Miserable week for resources stocks

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THE resources index endured a miserable week, dropping a notable 11.04 points week on week to 47.09 points after three of the four counters traded in the negative.
Bindura, Falgold and RioZim were among the top five losers for the week, although Hwange Colliery went up by 0,25 cents to 4,25 cents in Friday’s trades.
The equities market closed weaker on Friday, after the benchmark index dropped 0.23 points week-on-week to 168.13 points, weighed down by a 10 cents loss in National Foods to 310 cents and a 0,80 cents drop in OK Zimbabwe to 13,20 cents.
Market mover Delta also shed 0,50 cents on Friday to 115,5 cents in thin trades.
Weekly turnover was at S$9,9 million, rising to $14,9 million including special Delta and Econet special bargain trades on Wednesday.
During Friday’s trades, the ZSE traded in the negative, with the industrial index losing 0.42 points despite gains in Innscor and Seedco which closed trade 0,80 cents and one cent higher.
Dairibord also gained a cent to nine cents, with a year to date growth of 12,5 percent.
Turnover for the day fell to $1,1 million against the $1,2 million recorded on Thursday.Advertisement