[2008-04-16]  Equities Rally Past 20-Billion Point Mark
Equties opened the week firm rallying past the 20-billion point mark on positive sentiment across the board driven by stagnant money market rates and firming US dollar rates.

Money market rates remained between 80 percent to 100 percent for short-term, 150 percent for long-term with a surplus of $76 trillion. At close the industrial index gained 12,55 percent to 21 690 283 352,78 points and the mining index rose 23,63 percent to 20 623 563 872,76 points.


KMAL rose $20 million to $120 million taking its market cap to $28,486 quadrillion, Innscor gained $10 million to $40 million and Econet put on $35 million to $170 million.

Old Mutual was $30 million ahead to $170 million in line with the strengthening of the US dollar.

Powerspeed led the risers with a 100 percent gain to $1,2 million while Hunyani was the worst performer after losing $700 000 (or 23 percent) to $2,3 million.

Heavyweight Delta shed $10 000 to $26,99 million. Last week the group called for an urgent review in the prices of soft drinks to boost viability. NIPC said the new price would be announced not later than today. Indications are that the retail price of a 300ml bottle of carbonated drink is now $25 million.

CFX was $6 000 ahead to $71 000. CFX results have been delayed due to a "technical problem", which resulted in the finance manager and one of the contracted auditors being relieved of their duties. The banking group has been given up to the end of the month by the ZSE to release its results.

Willdale rose $10 000 to $90 000 on reports of its intentions to raise over $400 trillion for refurbishing its plant in Mt Hampden.


Source: Allafrica