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THE declining volumes of lager pushed by one of the country’s listed biggest companies Delta Corporation is indicative of a slowing economy, market watchers have noted. They added, however, that this could present an opportunity for investors as stocks were readily available at low prices.Delta reported last week that lager beer volumes for the six months period to September declined by 25 percent to 69,5 million litres on the back of an underperforming economy.
Beer consumption, analysts have added, has been used worldwide as a measure of the level of disposable income and the general performance of the economy.
Meanwhile, the Industrial index on Friday went down 1.56 points (0,89 percent) to 174.10 points.
Heavyweight counters dominated the losers with Lafarge decreasing by 10 cents to 40 cents, Old Mutual eased five cents to close at 235 cents while Delta slipped two cents to settle at 113 cents. CBZ shed a cent to trade at 13 cents and Ariston went down 0,15 cents to 0,85 cents.
The losses were partially offset by gains in CAFCA which put on 3,10 cents to close at 38 cents, Colcom and Meikles each traded a cent higher to 27 cents and 16 cents respectively.
Afdis advanced 0,99 cents to trade at 36 cents and Willdale added 0,02 cents to close at 0,20 cents.
Week on week the index was down 2.81 points (1,59 percent).
Bongani Ndlovu
Online Reporter