Industrial index rises again

Daily turnover improved to US$1,4 million shares from a volume of about 10,39 million shares.

The major highlight of the session was a special bargain of 5,6 million FBC Holdings shares, worth US$448 000, bought by IH Securities from FBC Securities at US8c each.
Econet Wireless, the second largest company in terms of value, rose US2,60c to US69,71c ahead of its full-year financials.

Innscor Africa recovered another US1,01c to US82,1c in deals worth US$249 584, ahead of its interim dividend of US0,80c per share today.
Old Mutual recovered US10c to US235c after the group declared a final dividend of US5,25c which will be determined using exchange rates prevailing at the close of business on April 11 this year.

NicozDiamond topped the risers after advancing 10 percent to US1,1c ahead of its full-year financials and analysts’ briefing next Tuesday.
Star Africa recovered US0,03c to US1,7c after publishing a further cautionary statement, saying the company was still engaged in discussions that may result in transactions that could have a material impact on the value of the company’s shares.

African Sun rose US0,02c to US1,27c after chief executive Dr Shingi Munyeza told an annual general meeting that the company has trimmed revenue growth expectation to 8 percent in the year to September 2013, but maintained EBITDA forecast at 12 percent.

BAT lost US5c to US720c, after setting the record date for the final dividend of 42c for Friday April 5.

CBZ was US2,44c weaker at 12c. DZLH eased 0,50c to 29c in trades worth US$473 730. The company says it will take measures to avoid further decline of profits as happened in the financial year to December 31 2012 due to a mismatch between revenue, volumes and costs. DZL saw revenue increasing only 11 percent to US$107 million ahead of prior year, yet costs increased at a faster rate, jumping 14 percent against the 2011 comparative period to weigh down profit.

As such, profit for the year to December 2012 was little changed at US$7,1 million compared with US$7 million the previous year, although revenue went up from US$95 million to US$107 million last year.

Retail shares were largely in the red with Edgars losing US0,20c to US12,5c while OK Zimbabwe dropped US1c to US19c. Truworths remained buyers and sellers only at US4c and US4,5c.