Stocks buoyant after gains

weekly rise of 0,82 percent.
Resource shares were also firm resulting in the mining index gaining 2,72 percent to 191.60.
The stock market was generally firm last week although investors’ sentiment remains subdued due to uncertainties on the political front largely due to the country’s empowerment laws, which require foreign- owned companies to sell at least 51 percent of their shareholding to local businesspeople.
The country is also likely to hold elections this year after the expiry of the Global Political Agreement, which gave birth to the inclusive Government.
However, two of the parties to the agreement seem to be disagreeing with Zanu-PF that is insisting that elections should be held this year.
The main MDC faction has maintained that the political environment is not yet conducive for the country to hold elections.
As long as the political landscape remains unstable, investors’ confidence will remain low.
After trades on Friday, Mash was unchanged at US2c after the group posted a net profit of US$1,43 million in its first quarter to March 31.
Rentals continued to grow in the period under review, driven by lease reviews and a few new lettings.
Monthly revenue grew by 29 percent for the entire portfolio from September last year to March this year.
Meikles led the losers with a US1,99c loss to US38,01c and Hippo dropped US$0,01c to US$1,05c.
Innscor, however, gained US1c to US$0,63c and Aico put on US$0,49c to US$18,5c. Afre lost US$0,02c to US$3,5c.
CBZ was unchanged at US$0,17c in the wake of its annual general meeting. The group is budgeting on total income in the year to December this year rising 36,6 percent to US$111,5 million from US$81,6 million last year.
The cost to income ratio is forecast to fall to 63 percent this year from 67 percent last year, according to chief finance officer Never Nyemudzo.
Dairibord reached a new 52-week high after it put on US$0,66c to US$25,76c on notable volume of 1,53 million shares worth close to US$400 000.
The counter has a 51,5 percent year to date gain while it has grown 243,5 percent year-on-year.
Lafarge had offers at US$0,90c after the group’s managing director, Mr Jonathan Shoniwa, told the annual general meeting that the company remains on course to achieve its full-year turnover forecast of US$54 million with the operating margin forecast at 14 percent.
Turnover in the four months to April 30 rose 52,3 percent to US$16,1 million, while operating margins had improved to 10,4 percent, although this was before the annual kiln shutdown, which is currently underway.
Capacity utilisation stood at 84 percent compared to 75 percent last year. Zimpapers was bid and offered at US0,7c and US0,8c. The group said turnover in first quarter was US$8,8 million against US$6,6 million last year,
Chief executive Mr Justin Mutasa said the group would get a US$2,4 million line of credit from PTA Bank which would be used to recapitalise the commercial printing division, which has been affected by competition from cheap imports from India and South Korea.
Pioneer was steady at US0,07c in the wake of a cautionary statement over an impending deal.