Old Mutual saves day for insurers as ZSE close in the red

Old Mutual saves day for insurers as ZSE close in the red


Harare, The Zimbabwe Stock Exchange (ZSE) closed in the red as sellers continued to dominate. In today’s session, foreign buys amounted to $705,675 while foreign sales were at $396,874. Turnover was decent at $2.1 mln with notable trades in Delta, Old Mutual and Seedco.

The Industrial Index lost 4.16 points on the back of marked losses in Barclays, Econet, Padenga and Willdale. Strong gains in Old Mutual stabilised the market as the All Share Index closed the day 1.26 points down. The Top 10 index was down 1.73 points while the Mining Index closed unchanged.

ECONET (ECO.zw) eased $0.0802 to trade at $0.7425, PADENGA (PHL.zw) dropped $0.0200 to $0.4800 while BARCLAYS (BARC.zw) slipped $0.0020 to end at $0.0500. WILLDALE (WILD.zw) inched down $0.0008 to settle at $0.0060.

Gains were seen in OLD MUTUAL (OML.zw) which advanced by $0.1464 to close at $5.0939, DELTA (DLTA.zw) put on $0.0080 to end at $1.5832 while CBZ (CBZ.zw) closed at $0.0900 after gaining $0.0065. MEIKLES (MEIK.zw) advanced by $0.0050 to close at $0.3050.

Insurance Monitor

Only Old Mutual was in action for insurance companies listed on the ZSE. The group which is among today’s top gainers rose 2.96% to trade at $5.0939.

CBZ Holdings which also has insurance units CBZ Life and CBZ insurance was today’s top riser after gaining 7.78% to trade at 0.09c.

Meanwhile, there were no trades in Fidelity, FMHL, Nicozdiamond and ZHL