Equities back in the black as Econet bumps

The local bourse’s mainstream industrial index moved back into positive trading after a prolonged bear run, recovering 0.98 today to close at 140.92.

Trades, though, were typified by thin volumes.Telecoms giant Econet led the movers as it recovered a hefty $0, 0248 to close at $0, 1798 after it announced earlier this morning that it had come up with an arrangement with the Reserve Bank of Zimbabwe to set up a facility for its local shareholders to deposit proceeds of the rights offer locally.

 Proplastics gained $0, 0080 to trade at $0, 0500 and Barclays moved up $0, 0010 to $0, 0290.  The cement maker PPC Limited was the only counter that traded in the negative territory after shedding $0,0050 to close at $0, 5575. Axia Corporation, Colcom, Fidelity Life and First Mutual traded unchanged at $0,0700, $0,3500, $0,1100 and $0,0450 respectively.

The mining index lost 0.42 to close at 55.89 as Bindura slipped $0, 0006 to trade at $0, 0344. The other mining counters were unchanged. -BH24

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