HomeBusinessHeavyweights stumble as ZSE opens week bearish

Heavyweights stumble as ZSE opens week bearish

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THE equities market opened the week bearish, with the industrial index weakening by 3,04 points to 178,06 points following losses in several blue chip counters.

Total daily volume was at $1,34 million with no counters trading in the black against eight that retreated.

Cigarette maker BAT’s losing streak continued, plummeting by 50 cents to trade at 1 150c, its lowest price for the year in trades of 2 500 shares worth $29 000.

Innscor pared off 3c to 65 while Seed Co shed 2,89c to close at 87c. The company announced John Patrick Rooney as its chairman today, replacing Bekithemba Nkomo, who quit on February 28.

Rooney comes on board along with other directors representing Limagrain, a UK company which bought 25% in Seed Co through its French subsidiary, Vilmorin & Cie.

Market movers, Delta and Econet along with Afdis traded two cents weaker to close at 115,99c, 60c and 30c in that order. The resources index closed 0,10 points lower at 32,44 points after Hwange traded 0,09c in the red at 5,01c.

— The Source

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