THE equities market’s slide continued without respite going into the holidays as the industrial index eased 0,62 points to close at 164,79 points on Thursday.
Analysts see no likely improvement in the short term, with some suggesting the index could stabilise around the 150-point mark.
Losses were recorded in SeedCo, which retreated 2,60 cents to 66,90 cents, Dairibord 0,40 cents to 8,10 cents while Cottco slipped 0,20 cents to 0,80 cents.
Barclays and Edgars dropped 0,10 cents each to settle at 3,40 cents and 13 cents. Pearl was also down 0,05 cents to 2,60 cents.
Turnover for the day fell nearly 60% to $1,7 million from the $4,1 million recorded yesterday with Delta and Dairibord contributing 65% of the total value of trades.
Old Mutual plc, whose local subsidiary held its first ever analyst briefing on Wednesday to announce a $64 million operating profit, was the only counter to trade in the positive after adding five cents to trade at 245 cents.
Total market capitalisation for the week was $4,80 billion, 2,5% lower than the previous week.
The mining index was flat at 28,82 points despite Falgold easing 0,10 cents to trade at 3,30 cents with Bindura, Hwange and RioZim maintained previous trading levels. – The Source
