EFE Securities •

7 years ago •

Market Commentary

Market Comment 08.05.2017

The mainstream Industrial Index continued with its fine run, escalating its gains by a further 0.59% to 146.12pts in week opening trades. Heavy caps Econet, Colcom and Old Mutual spurred today’s rise with demand from local participation. Telecom giant Econet led the risers, putting on a weighty 5.49% to $0.2000 on persistent demand. Banking group FBC was 4.17% firmer at $0.1000, as the group fends off allegations of fraud from a disgruntled investor with a press release. Colcom added 2.70% to trade higher at $0.3800 while, multi-listed Old Mutual rose 1.32% to settle at $3.7512 on continued demand. Two stocks traded in the negative. CFI led after paring 0.40% to $0.1245, though it ended with a bid at that level. Delta followed with a 0.28% slump to end fixed at $0.88. The Mining Index traded unchanged at 70.22pts for the fifth consecutive session with no trades in the resources sector.