The Zimbabwe Stock Exchange ended Friday’s trading session in the red for the second consecutive day. The mainstream All Share Index closed today’s trading session at 15,115.56 points, down 0.47%. Year to date, the index, however, remains in the green, up 39.67%.
Market breadth was negative, as 13 laggards were reported compared to 11 gainers. The Top 10 Index was off 0.64% to close at 8,870.73 points. Cigarette manufacturer BAT lost 5.51% to close at $3.00 while Econet fell 1.96% to $86.77.
Tanganda was the best performing stock at the close of trading. The stock gained 5.88% to close at $90.00. FMP rose 3.49% to close at $8.90. Zimplow was next, appreciating by 2.53% to end at $18.25. Hospitality group RTG climbed by 0.99% to close at $8.20. SeedCo rounds up the top five gainers for today. The stock gained 0.52% to close at $82.47.
On the flip side, First Capital Bank was the worst performing stock today. The stock shed 9.48% to close at $9.59. Horticulture exporter Ariston was next, declining by 3.47% to close at $3.82. However, the Medium Cap Index retreated 0.10% to 33,647.23 points.
The Small Cap Index fell slightly by 0.01% to 522,497.81 points on Edgars which eased 1.18% to $7.51.
Market capitalisation declined by $9.91 billion to $1.83 trillion. Turnover declined from yesterday’s $272.05 million to $205.27 million in 248 trades. Innscor was the most actively traded stock today. 236,100 shares valued at $80,379,780 were traded.
The Datvest ETF was down 0.18% to $1.7469 while the Morgan & Co Multi-Sector lost 0.04% to $21.6500.
Oil rose by more than 3 percent on Friday as the dollar eased, with an EU ban on Russian oil looming large and investors weighing the prospects for an easing of China’s Covid-19 curbs.
Though fears of a global recession capped gains, Brent crude futures were up US$3.29, or 3.48%, at US$97.96 a barrel, setting the stage for a weekly gain of more than 2%.
US West Texas Intermediate (WTI) crude futures were up US$3.52, or 3.99%, at US$91.69 and on course for a weekly gain of more than 4 percent.
Gold prices edged higher after the dollar took a breather, though bullion was headed for a second straight weekly drop as the US Federal Reserve’s hawkish policy narrative clouded the outlook for the non-yielding asset.
Spot gold was up 0.4% at US$1 635.71 per ounce, but lost 0.4% so far this week.
US gold futures rose 0.5% to US$1 638.20. Spot silver rose 0.4% to US$19.54, platinum was flat at US$918.68 and palladium gained 0.6% to US$1 811.92 – Harare