EFE Securities •

7 years ago •

Weekly Reports

Weekly-08.12.17

The ZSE slumped in the week under review as the country’s 2018 fiscal policy was unveiled. A US$5,5bn budget was presented by the Minister of Finance as the government embarks on a New Economic Order targeted at improving production and exports by implementing investor welcoming policies, re-engaging with the world, easing the way we do business, tackling corruption and indiscipline. An estimated GDP growth above 4.5% in 2018 premised on a new way forward with economic and investment recovery measures. Waning demand in several market heavies pushed the market lower with the main stream Industrial Index tripping by a hefty 37.96pts or 10.15% to 335.97pts. The Mining Index registered another week of gains as it recovered 4.67% for the week to 132.79pts largely due to activity in the nickel miner Bindura which posted gains for its HY2017 review, where management reported a PAT of $2.23m