ZSE equities mixed

Analysts say investors, particularly foreigners were reluctant to partici-pate on the ZSE due to uncertainties over the country’s general elections.
Parties to the Global Political Agreement, which gave birth to the Inclusive Government, have confirm-ed the elections would be held later this year.
Foreign interest has been waning on most listed stocks except on the highly sought bluechips counters such as Delta, Innscor and SeedCo.

Analysts are hoping that the resolution to the Eurozone crisis will be successfully implemented. This will result in an increase in liquidity in European markets and a return to demand for emerging stocks.
Despite the bearish trend the market has been experiencing since last year, the local equities market still offers longterm growth potential given the increased profitability and return to dividends.

Zimbabwe is also likely to benefit from the increased attention the developed markets are paying to emerging markets and frontier markets.
After trades yesterday, BAT gained 5c to 190c. The cigarette manufacturer reported a 884 percent increase in attributable profit to  $4,8 million in the full year to December 31 2012 on the back strong volumes.

Chairman Mr Kennedy Mandevhani said increased sales volumes were registered in “key and iconic” brand Madison, which grew by 61 percent.
The tremendous increase in volumes helped turnover growth to $39,8 million from $22,9 million, an increase of 74 percent year on year.
Innscor rose 1c to 58c, Dairibord advanced 0,45c to 17,95c and Zimpapers pushed up 0,35c to 1,05c. The gains were however offset by losses in Hippo, which shed 5c to 95c. Colcom was down 0,99c to 30c, Edgars retreated 0,5c to 7,50c Meikles dropped 0,22c to 13,78c while Pelhams slipped 0,2c to 0,60c.

Bindura was 0,20c firmer at 2,50c, Falgold, Hwange and Riozim were unchanged at previous trading levels. Last week, there were several special bargains on the market. Bargains in OK, Hippo and Ariston lifted the daily average value to $4 million.

Also, good volume in blue chip counters such as Delta Corp, Econet and Innscor Africa contributed to the high turnover for the week.
Despite high levels of trading, the industrial index ended 1,8 percent lower at 136,76 points whilst the mining index lost 0,51 percent to 85,01 points.