[2008-01-14]  Stock market closes lower in mixed trading
THE stock market fell again on Friday to close the week below the 2,5 billion-mark although trading was relatively mixed.

The industrials index shed 2,65 percent to 2 467 244 426,52 points and the minings index fell below the two billion-mark after losing 4,68 percent to 1 996 746 589,05 points largely weighed down by a 18,75 percent or $1,5 million fall in Bindura at $6,5 million.

Meikles was unchanged at $15 million as was Kingdom at $2,3 million while Tanganda gained $300 000 to $3 million. Together with Cotton Printers, the three groups will start trading as Kingdom Meikles Africa today.

Zimnat led the day’s fallers after closing $100 000 lower to $350 000 and parent TA Holdings lost $500 000 to $7,5 million.

Old Mutual pared $2 million to $20 million and PPC lost $3 million to $37 million.

Zimsun added $100 000 to $1,5 million on positive investor sentiments spurred on by a projected increase in international capital flows. The hotel group is also leading on year to date gains with 300 percent.

Zimplow picked up $10 000 to $710 000. The plough manufacturer has been one of the biggest suppliers of the RBZ farm mechanisation programme.

Willdale gained $15 000 to $70 000. Natfoods picked up $200 000 to $2 million after the group said that it would have adequate raw materials for cooking oil to last the year

CFX put on $2 000 to $32 000 but NMB lost a further $10 to $170 000.

Hunyani, which reported a 36 444 percent increase at $937 billion in its bottom-line for the 2007 full year, was sellers only at $300 000.

Chemco was also sellers only at $30 million while parent TSL with upcoming full years was steady at $480 000.

Steelnet was $20 000 ahead at $200 000 and Gulliver was unchanged at $850 000. The two steelmakers and engineers will soon be joined on the ZSE by Phillip Chiyangwa’s Zeco Holdings.

Source: copyright(c)2008 The Herald ltd.