US$5m deal spurs industrial index

industrial index to recover 0,41 percent to 138,41 points.
The deal executed by Old Mutual Securities was done at US110c, representing a 10 percent premium to the market price of US100c.
Volume of shares for the day increased to 156 203 436 and turnover was US$8,3 million.
A transaction of 145 million Pelhams valued at about US$1 million also went through at a stable price of US1,71c.
Hippo is remains a strong counter after posting a US$13,7 million after-tax profit for the interim to September 2011, as output rose 80 percent on improved milling performance.
This comes as the company projects sugar production this financial year to increase by 32 tonnes to 365 000 tonnes against 333 000 tonnes last year. Hippo Valley expects private farmers to deliver 61 000 tonnes.
In its unaudited financial results for the six months Hippo Valley said after tax profits increased 139 percent from US$7,7 million achieved last year.
The producer of raw sugar had seen revenues for the period jumping a massive 79,5 percent to US$70 million to lift it to a US$21,2 million operating profit. Unavoidably, earnings per show rose 30 percent to US7,1c.
Hippo Valley saw output registering a 79,8 percent increase to 118 654 tonnes compared to the same period last year after extensive mill maintenance. The firm said sugar recovery for the period was 85,58 percent.
Meanwhile, the equities broke for the holiday trading in the positive territory where Old Mutual went up US5c to close at US130c and TSL gained US1,46c to trade at US8,96c.
Other gains were in Seed Co US1,01c firmer at US103,01c and RTG putting on US0, 40c to US2,40c.
Gains were countered by losses in Pioneer losing US2c to US5c as Dairibord and TA were a cent lower at US18c and US12c respectively. Hotel group Meikles went down US0,97c to settle at US16,98c while Afdis and Ariston were US0,50c down at US10 50c and US0,90c.
The mining index was largely unchanged at 79,80 points after RioZim was marginally lower at US35c with Bindura, Falgold and Hwange were unchanged at previous day’s levels.