[2008-05-22]   ZSE Shares Hit All-Time Highs
Zimbabwe Stock Exchange shares rose to all time highs yesterday as investors took positions in light of the prevailing high asset price inflation while resource counters rallied on the back of strong global metal prices.

At close the minings index set an all time high record after gaining 27,42 percent to 145 586 456 899,54 points after gains in all the counters.


The industrials index rose 15,90 percent to marginally surpass the previous all time at 128 021 119 250, 89 points Meanwhile, in interbank foreign currency trading Standard Chartered was buying the US dollar at $304 million, FBC at $310 million and CFX $305 million. KMAL gained $110 million to $700 million, Old Mutual put on $130 million to $900 million and PPC rose $600 million to $1,5 billion.

Delta rose $15 million to $150 million. The group says it needs US$100 million capex to upgrade its plant and equipment with a total urgent need of US$20 million for repairs and maintenance at its Southerton plant and glass furnace. CFX with an ongoing $680 trillion rights issue was $10 000 up to $410 000. Other banking groups traded firm with Barclays up $1 million and CBZ rising $5 million to $35 million.

Tractive was $500 000 ahead at $4 million after its interims where turnover amounted to $50,4 trillion up 333 499 percent on last year. The group said branded tractor volumes increased 1 207 percent over the prior half-year period after benefiting from the ongoing Farm Mechanisation Programme. TA Holdings put on $85 million to $305 million after its AGM last week where the group said pretax profit for the first quarter was up 112 000 percent but down 58 percent in US dollar terms.

The top heavyweight counters have not changed much since last month with KMAL holding on as the leading ZSE counter with a market capitalisation based on Monday's prices of $143,35 quadrillion. The only newcomer is Lafarge at $40 quadrillion.

Border led on the year to date gains at 85 614 percent but trades in the counter are generally rare.


Source: allafrica