• Tue. Jul 16th, 2024

Edgars shares gain 15% after Chesternoel Mutevhe appointed as CFO


Jan 9, 2024

By ETimes

Shares of Edgars ended 15% higher at $132.25 on the Zimbabwe Stock Exchange (ZSE) on Monday after it announced Chesternoel Mutevhe as the new chief finance officer of the company, replacing Happiness Vundla.

He worked for CFI Holdings for 7 years, most recently as group finance director.

Most recently, he was head of finance in Zimbabwe for Karo Platinum.

Chesternoel is a qualified realtor and chartered accountant, having trained with Deloitte.

The local bourse gained 0.83% to close at 255,730.17 points.

Specifically, market capitalisation gained 2.11% to close at $19,48 trillion.

The Top 10 Index was up 0.83% to settle at 114,825.29 points.

As measured by market breadth, market sentiment was positive, as 18 tickers gained relative to 3 losers.

General Beltings recorded the highest gain to lead the gainers’ chart, gaining 48.13% to close at $35.55.

SeedCo Limited followed with a gain of 15% to close at $1150.00, while RioZim rose by 12.50% to close at $900.00.

Proplastics added 3.70% to end at $633.00.

On the other hand, Mash Holdings led the losers’ chart in percentage terms, dropping by 2.95% to close at $155.32.

Econet followed with a loss of 0.27% to close at $1,007.71, while BAT shed 0.27% to close at $13,000.00.

Market turnover fell 25.20% to $1.26 billion.

Datvest Modified Consumer Staples ETF was $0.0100 up at $11.6117.

Old Mutual Top 10 ETF added $0.0358 to $43.0338.

Morgan & Co Multisector ETF, Morgan & Co Made In Zimbabwe and Cass Saddle Agriculture ETF remained flat at $514.9500, $9.5000 and $6.4600 respectively.

Tigere REIT and Revitus Property Opportunities remained flat at $350.0000 and $400.0000 respectively-HARARE

By ETimes

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