By ETimes
Gains in Simbisa and Econet saw Zimbabwe Stock Exchange shares open the week in positive territory albeit marginally.
The ZSE All-Share Index which has a year-to-date gain of 27,81% gained by 5.84% last week as there were 26 gainers against 14 in the red.
Market turnover for the previous week was up by 61,20% to S3,8 billion from to $2,4 billion, led by FBC $1,06 billion, Econet $871 million, EcoCash $403 million, Delta $230 million and Innscor $227 million. On the ETFs section, Cass Saddle Agric was the biggest gainer, after rising by 10,80% from $1.81 to $2.00.
On the VFEX, Padenga was up by 0,03% to close at US$33.95c while SeedCo International was down by 4,88% to close at US$38.00c. Bindura and Caledonia were unchanged at US$3.00 cents and US$1.30 respectively.
Gold prices rose on Monday after declining more than 1% in the previous session, as a pause in the dollar rally alleviated some pressure from the greenback-priced bullion, though looming US rate hikes restricted further gains.
Spot gold rose 0.4% to US$1 648.91 per ounce, as the metal posted its biggest weekly decline since July last week.
US gold futures were up 0,4% at US$1 655.30 per ounce.
Spot silver rose 0,7% to US$18.39 per ounce, platinum was 0,3% higher at US$901.67 per ounce and palladium gained 1,7% to US$2 022.60 per ounce.
Oil prices also rose on Monday after China rolled over liquidity measures to help its pandemic-hit economy, igniting hopes for a better fuel demand outlook from the world’s top crude importer.
Brent crude futures rose US$66c, or 0,7%, to US$92.29 a barrel, recovering from a 6,4% fall last week. US West Texas Intermediate crude was at US$86.17 a barrel, up US$56c, or 0,6%, after a 7,6% decline last week.
China’s central bank rolled over maturing medium-term policy loans while keeping the interest rate unchanged for a second month on Monday.
At Monday’s close, the ZSE All Share Index was 0.47% up to 13,897.26 pints and the Top 10 was 0.49% higher to 8,262.25 points. On the heavyweights, Simbisa rose the most, gaining 5% to close at $180.00 taking its market cap to $101.19 billion. Telecoms giant Econet added 3.35% to end at $89.81 and left its year-to-date gain at 5.66%.
There were losses in Delta, which was the most traded counter, depreciating by 1.19% to close at $224.24.
ZBFH led the day’s risers after gaining 14.99% to close at $80.50. Milk processor Dairibord rose 9.20% to close at $32.00. TSL was 3.96% higher to $38.77. The Medium Cap Index was up 0.44% to close at 30,044.06 points.
Nampak topped the losers’ chart, declining by 5.86% to end at $8.90. Construction firm Masimba eased 2.57% to $70.80. First Capital Bank fell 1.62% to $9.53.
Gold miner RioZim lost 1.52% to $130.00.
The Small Cap Index recovered 0.01% to close at 493,318.53 points.
Turnover rose 23.35% to $151.06 million. Market capitalisation increased 0.57% to $1.71 trillion.
In the derivatives market, the Datvest Modified Consumer Staples ETF gained 0.66% to $1.7215 while the OM ZSE Top-10 ETF rose 0.49% to $5.2335.
On the flip side, the Morgan & Co Made in Zimbabwe lost 2.72% to $1.1674. Other ETFS were virtually flat – Harare