- Delta Corporation headlines the loses
- ZB Financial Holdings tumble $2.0000
- However, Innscor continues with gains
Harare - The Zimbabwe Stock Exchange (ZSE) failed to recover from this week’s Monday losses as the bourse continued to record bearish results after ending in red again yesterday.
The All Share Index went down 1.11% after dipping 78.32 points from 7,047.15 to close lower at 6,968.83 owing to losses propelled by blue-chip companies.
Zimbabwe’s largest beverages manufacturer, Delta Corporation headlined the losses after easing $6.1835 to close at $86.2177.
Delta’s non-alcoholic beverages market share is facing an overwhelming threat from Pepsi which has taken an aggressive market penetration strategy through offering competitive alternatives at lower prices.
Banking and insurance counter ZB Financial Holdings tumbled $2.0000 to close lesser at $90.0000 while contracting and industrial counter Masimba Holdings retreated by $1.9674 to end at $40.0027 respectively.
Meanwhile, diversified firm Zimplow Limited was lower at $15.7500 after easing $1.4233.
In June this year, Zimplow’s newly elected chairperson Godfrey Manhambara said the company expects to double the group’s production performance by 2024 through utilising the group’s diversified structure, premium brands and technical expertise it possesses.
However, trading in the positive was the conglomerate firm, Innscor Limited which buoyed $6.8275 further from $0.6894 which was gained this week on Monday to close firmer at $103.8487
Sugarcane farming counter, Hippo Valley Estates gained $1.7936 to close higher at $189.8974.
The counter managed to overturn Monday’s losses when it went down by $1.8962 to close lower at $188.1038.
Other gains were propelled by financial counter FBC Holdings which was up at $29.0000 after gaining $1.0000 while Zimbabwe’s largest milk processor, Dairyboard increased by $0.8667 to close at $37.000.
FBC Holdings is constructing a new headquarters in Borrowdale necessitated by a zeal to move its head office to a better environment that has less congestion than Harare CBD.
The company recently handed a $19,6 million dividend to Public Service Pension Fund following the latter’s investment in FBC.
Life assurance provider Fidelity Life limited traded $4.4286 to close stronger at $11.4286 respectively.
Earlier in May 2021, the company reported a 66% investment income decline owed to investment property fair value gains.
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