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EFE Securities Year to Year Financial Statements
The ZSE market recorded marginal gains in the week under review as three of the four indices we review closed pointing northwards. The All-Share Index rose by a negligible 0.03% to close at 200.54pts while, the Industrial Index was 0.02% up at 200.17pts. The Blue-Chip Index was 0.85% firmer at 209.29pts, mainly anchored by gains in Ecocash and Econet while, on the contrary the Mid Cap Index was the only loser amongst the indices as it dropped 2.69% to end pegged at 166.99pts. Elsewhere, financial services CBZ released its HY24 results in which the group reported a profit for the period of ZWG$656.29m.
Written by EFE Research
Demand for selected counters in the Top 10 Index drove market momentum in the week under review to see all the Indices we review close at all-time highs. The demand emanated from increased liquidity in the economy which has caused parallel exchange rates to skyrocket, and this has resulted in excess funds being channelled into the market as economic agents search for value preservation. The All-Share Index and the segregated Industrials rose by a similar 28.15% to settle at 257.00pts and 256.52pts respectively. The Blue-Chip Index was 35.88% firmer at 284.39pts as its constituents claimed six spots in the top ten risers’ list of the week while, the Mid Cap Index advanced 6.05% to 177.09pts.
The ZSE market buttressed prior week’s gains, mainly anchored by the Mid Cap Index as its constituents experienced increased demand in the week under review. The All Share Index was 0.80% firmer at 259.05pts while, the segregated Industrials added 0.26% to end at 257.19pts. The Mid Cap Index recorded double digit gains as it surged 12.35% to close at 198.96pts while, the Blue-chip Index dropped 1.65% to settle at 279.69pts mainly weighed down by Ecocash, Delta, CBZ and Econet. Financial companies continued to report on their half year performances with, FBC recording a PAT of ZWG$631.24m which was 58% lower from prior comparable period. In the same vein, the banking outfit declared a dividend of US0.25cents per share.
The ZSE recovered in the new month of October to see the mainstream All Share Index rebounding 3.30% to 252.81pts while, the Top Ten Index rose 3.59% to 271.77pts, mainly driven by the duo of banking groups in CBZ and NMB. The segregated Industrial Index charged 3.32% to end the week at 252.49pts while, the Mid Cap Index ticked up 10.41% to 211.82pts. Elsewhere, half year results for companies continued to trickle in during the week under review with Fidelity registering a PAT increase of 135% to USD$5.2m while, Turnall recorded a loss of USD$1.19m which was a 90.1% increase from prior comparable period.
Heavy and mid cap counters weighed on the market in the week under review as all the Indices we review closed in the red. The All Share Index was 2.59% weaker at 208.36pts while, the segregated Industrials fell by 2.61% to settle at 208.10pts. The Blue chip Index was 2.70% lower at 206.60pts mainly weighed down by Hippo and Econet while, the Mid Cap Index retreated 2.59% to 240.23pts. Elsewhere, the proposed merger between CBZ Holdings Limited and ZB Financial Holdings Limited, meant to create Zimbabwe’s largest financial institution, is on the verge of collapse following the imposition of stringent conditions precedent by the Competition and Tariff Commission.
Mid-cap counters weighed the market in the week under review as its Index faltered 2.55% to close pegged at 234.10pts as eight of its constituents clinched eight spots in the top ten fallers’ list. The mainstream All Share Index trimmed 0.91% to close at 206.47pts while, the ZSE Top Ten Index shed 0.47% to 205.62pts. The Industrial Index parred off 0.90% to end the week at 206.22pts. Elsewhere, Ariston Holdings Ltd, a diversified agricultural concern listed on the Zimbabwe Stock Exchange (ZSE), anticipates a significant increase in earnings from macadamia nut production following the recent acquisition of an advanced X-ray machine.
Heavy cap counters anchored the market in the week under review, as demand in selected counters surged. The All Share Index was 7.76% firmer at 204.06pts while, the segregated Industrials gained a near similar 7.45% to close pegged at 203.78pts. The Blue-Chip Index was 9.76% higher at 204.65pts mainly buoyed by gains in BAT and Delta while, Mid Cap Index added 1.26% to 225.24pts. Elsewhere, TSL released its FY24 results for the period ended 31 October 2024, in which it reported a profit after tax of US$3.62m and did not declare a dividend as it is channeling the funds for the acquisition of Nampak.
The ZSE market reversed prior weeks’ losses as it retreated 1.59% to 207.57pts mainly weighed down by losses in selected heavies while, the Industrial Index lost a similar 1.59% to 207.36pts.The Blue-Chip Index was 2.88% weaker at 205.53pts mainly dragged by CBZ, TSL, BAT and Ecocash while, on the contrary the Mid Cap Index was 2.85% higher at 239.22pts. Elsewhere, dual listed counter that is currently on suspension Old Mutual, released its FY24 results in which it reported a PAT of R8.39bn and consequently declared a final dividend of R0.52.
The ZSE market faltered in the session as the All Share Index retreated 1.67% to 204.11pts mainly weighed down by selected heavies that experienced selling pressure. The Blue-Chip Index was up 2.97% to settle at 199.43pts extending its YTD losses to 7.35% while, the Industrial Index was 1.67% lower at 203.89pts. On the contrary, the Mid Cap Index was 2.56% higher at 245.34pts. Elsewhere, the Tigere REIT released FY24 results in which its total income surged by 14% to $1.72m and declared a quarterly dividend of US0.04327 cents.
The ZSE market faltered in the week under review as the All-Share index retreated 1.16% to 201.75pts on the back of losses in selected heavies. In the same vein the segregated industrial Index lost 1.13% to 201.58pts while, the Blue Chip Index was 2.40% weaker at 194.65pts as BAT, Econet, Hippo, SeedCo and Ecocash continued weaken during the week. On the contrary, the Mid Cap Index was 2.65% higher at 251.83pts as its constituents clinched eight spots in the risers list of the week.
Losses persisted on the ZSE in the week under review as the All Share Index retreated 0.66% to close pegged at 200.42pts on the back of losses in heavy and mid cap counters. The segregated Industrials parred off 0.67% to close at 200.23pts while, the Blue-Chip Index was 0.76% softer at 193.16pts widening its YTD losses to 10.26% mainly weighed down by Econet, BAT and CBZ. The Mid Cap Index was 0.36% lower at 250.94pts.
