Thin volumes recorded on ZSE

index lost 0,22 percent to 167,46 points in trades characterised by thin volumes.
The mining index declined 0,46 percent to 240,45 points after Hwange’s US0,5c loss to US76c.
Daily turnover improved slightly to US$1,5m on about 23,7m shares from about US$1,2m achieved a day earlier.
ABCH, whose profitability was affected by losses from its associate PG Industries, lost US3c to US45c. TA, which has issued a loss warning statement, declined US0,99c to US18c.
Innscor was the only blue-chip to trade on the downside after losing US0,97c to US68c ahead of its interim dividend record date this Friday.
Delta, the country’s largest beer and soft drinks maker, was unchanged at US77c as was Econet, the biggest cellular company at US490c.
Phoenix dropped US0,50c to settle at US2c. FBCH came off US0,31c to US5,49c after the group reported that the bulk of its full-year profits to December 31 2010 came from Turnall.
Turnall is now a subsidiary of FBC Holdings Ltd, after a dividend in specie by the bank to the holding company.
FBC’s total income for the period amounted to US$38,2m after interest income of US$11,4m and net trading income of US$14,8m.
The trading income was made up of US$11m booked in from gross sales at Turnall and US$3m in net earned insurance premium.
Three counters traded in the positive territory as Truworths moved up US0,80c to close at US7c. Padenga gained US0,30c to US5,90c as CAPS put on 0,10c to US1,20c.
Analysts have projected the pharmaceutical firm could post big losses as a result of the three-month plant closure last year.
PG Industries was bid and offered at US2,5c and US2,8c.
General Beltings was at US0,1c after reporting a net loss of US$1,213m in its finals. The group said capacity utilisation increased by 10 percent to 35 percent in the period under review. Hwange was slightly lower at US76c as Bindura, Falgold and diversified resource company RioZim were unchanged.
Shares have been generally going up, particularly for blue chip counters primarily driven by offshore funds buying into these stocks.
Such stocks have been so attractive to foreign investors as most well-capitalised counters are achieving increased revenue and profits. Analysts say such demand in likely to prevail.
Foreign investors are also attracted to blue chips as they can easily move in and out, than in small to medium counters. However, the small to mid-tier counters have been largely driven by local investors, particularly the pension funds.