Old mutual sole gainer on local bourse, as insurer Fidelity trade flat 

Insurance24
HARARE – Old Mutual emerged as the only gainer on the Zimbabwe Stock Exchange on Wednesday after its share price marginally rose 0.03 percent to close at 520.17 cents.

Some 244,072 shares of the heavyweight were also traded at $1.26 million as interest in the heavyweight’s counter continues.

The counter is still trading at a premium to both the price on the Johannesburg Stock Exchange and the London Stock Exchange, with the Old Mutual Implied Rate being quoted at 1.5802 today.

The market was in the red with the All Share and industrial indexes easing 0.05 percent and 0.06 percent to close the trading session at 91.32 points and 305.35 points, respectively. The Top 10 index also lost 0.02 percent to 90.43 points.

Seed Co shed 0.28 percent to 200 cents, with 187,978 shares of the seed manufacturing giant being traded at a total value of $376,000.Properties concern Dawn was down 6.45 percent to settle at 1.59 cents with Ariston edging down 3.33 percent to reach 1.445 cents.

Turnover rose to $2.79 million with a total of 2,929,225 shares being traded. Telecoms giant Econet Wireless saw 1,125,682 of its shares changing hands at a total value of $788,000. Innscor Africa’s 220,763 shares also went through with $177,000 being realised from the trade.

Financial services concern FBC Holdings’ 347,656 shares were also traded at a value of $69,531. The largest company by market capitalisation Delta Corporation’s 27,814 shares went through at a total value of $46,171.

The mining index was unchanged at 130.42 points with market capitalization standing at $8.65 billion. The trading session also saw foreign buyers dominating at $1.5 million, with sellers closing at $7,355.

Insurance Monitor

 

Fidelity Life Assurance traded flat at 8c and a total 10,491 shares exchanged hands. There were no trades in FMHL, Nicozdiamond and ZHL.

 

FinX/Insurance24