09 March 2017
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The ZSE closed the week mixed as main stream Industrial Index put on a cumulative 0.68% to 135.36pts while, the Mining Index shed 3.63% and closed at 53.66pts. The market losses come in the wake of the ongoing reporting season that saw AXIA and TRUWORTHS amongst others, releasing results for the year. So the reporting season has been rather subdued as companies continued to struggle as they contend with the difficult operating environment. In economic news, the government of Zimbabwe has reportedly revised its growth forecast for 2017 to 3.7% from 1.7% owing to anticipated bumper harvests in the current agricultural season. The market however remained tepid with Econet’s LA’s being the dominantly traded security as punters seek exposure to the telecoms giant.
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