11 May 2017
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The market rally showed no signs of abating in the second week of May amidst generally tepid trades despite strong demand against the back drop of constrained supply. Bids continued to firm up on the market as more participants sought to exit their liquid positions for equities. Activity was further spurred by the a coterie of corporate events including the release of the full year results by the market’s top capitalised stock Delta which went on to declare a final dividend of $0.0245 shares per share in spite of the lower performance relative to the previous year’s performance. Internecine shareholder battles continued to rock the banking group ZBFH as investors held their annual general meeting, as fellow banking group CBZ updated that their first quarter performance was much improved on the prior year. For the week however the main stream Industrial Index edged 1.06% higher and closed at 146.80pts while, the Mining Index held at 70.22pts for the whole week due to lack of activity.
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