ZSE shares recover

to US$2,909 million, representing a 101,2 percent jump.
The recovery came on the back of significant gains in Willdale, up 16,7 percent to US0,35c, ZHL up 9,1 percent to US1,20c as Old Mutual gained 4,5 percent to US230,02c, OK 4,1 percent to US25c and Meikles 1,3 percent to close yesterday’s trading session at US32c.

The gains helped the main industrial index recover from the June downslide hangover after gaining 0,5 percent to start the week higher at 216,2 points.
Losses in Art, down 11,1 percent to US0,40c and Pearl 3,2 percent weaker at US3,0c did nothing to dampen the industrial index mood for a bull run.
However, the mining index was in no rush to get off the blocks after trading unchanged on Friday, losing 2,3 percent to close at 68,5 points.

Hwange lost 8,1 percent to US14,7c while Bindura, Falgold and RioZim were unchanged at US260c, US12c and US45c, respectively.
The value of shares traded on the Zimbabwe Stock Exchange in June plunged 35 percent to US$25,6 million against the May figures.
Analysts contend investors have started taking positions ahead of harmonised elections set for July 31 with the market trading sideways.

In its June monthly market snapshot equities research firm IH Securities said the month marked a subdued ending to the first half with the market cap declining.
Beverages manufacturer Delta Corporation dominated the trades, accounting for more than half of the value shares traded at US$12,87 million.

Financial group FBC Holdings was a distant second in terms of shares sold coming in at US$7,49 million followed by Econet at US$5,87 million.
IH Securities said despite the beginning of the interim reporting season for companies with December year ends stress in run-rates would continue. The equities firm cited persistent liquidity challenges for its prognosis.

The market, however, reversed gains made in May, with total market capitalisation declining 2,15 percent to close June at US$5,99 billion (plus 36,64 percent year-to-date), including shares on foreign registers.

The industrial index eased 0,08 percent as all heavyweights closed the month in the red; Econet (US140c) lost 5,71 percent, while Delta (US66c) and Innscor (US91,02c) gave up 4,12 percent and 1,07 percent respectively.

There was mixed trading in mid-caps with OK Zimbabwe, ABC, Old Mutual and National Foods declining 18,37 percent, 16,81 percent, 10,83 percent and 9,26 percent respectively while BAT, Seed Co, and Hippo gained 21,21 percent, 12,50 percent and 1,17 percent respectively.