ZSE closes week in the black

Zim latest news my harare times

The Zimbabwe Stock Exchange (ZSE) closed last week in the black as indices remained flat with the Top Ten Index marginally rising. Zimbabwe Stock Exchange The Top Ten Index was buoyed by gains in heavies Delta, Econet and Old Mutual, gaining a marginal 0,07 percent despite losses in conglomerate Innscor as gains in the trio managed to maintain the index in the black. Resultantly, the Top Ten Index closed last week at 86,04 points, while the other three indices remained unchanged. The Industrials, All share and Mining indices were stable…

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Strong Sales Performance Boosts BAT Revenue

Strong sales performance has boosted revenue for the Zimbabwe Stock Exchange-listed company, British American Tobacco Zimbabwe (BAT) for the year ended December 2017 after realizing US$2.7 million- 8% higher than the prior year. According to the group chairperson, Lovemore Manatsa, gross profit was also 8% up as compared to the prior year. “Consequently, gross profit was up by US$2.0 million (8%) compared to the same period in 2016, in line with the volume increase combined with effective cost management measures taken by the company. “Selling and marketing costs increased by…

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Speculation drive ZSE swings

Zimbabwe Stock Exchange

THE upswing and downswing of the Zimbabwe Stock Exchange (ZSE) last year was due to speculative tendencies, with analysts attributing the latter to market correction. In his 2018 Monetary Policy statement last week, Reserve Bank of Zimbabwe governor John Mangudya said developments on ZSE last year pointed to more speculative tendencies. “Speculative tendencies largely drove the resurgence of the stock market in 2017. Reflecting this, the total market capitalisation rose to well over $15,2 billion in November 2017, before retreating to $9,6 billion by year end. The stock market, however,…

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