Economy-Zimbabwe - The benchmark index ended on a high note last Friday, the final trading day of the year marked by further price ramping by fund managers. After trades, the industrial index advanced 2,07 percent to 145,86 points. Driving the industrial index were Seed Co, which rose US7c to US110c, Hippo which added US6c to US115c and ABC up US5,01c to US95c. Aico advanced US3c to US19c on reports that Olam, an international cotton giant, is talking to Aico for possible acquisition of a significant stake. The negotiations are a still in their infancy.

ZB was up US2c to US20c.

Only two counters traded in the negative territory as Zimpapers lost US0,10c to US0,70c while TN Holdings was marginally lower at US3,99c.

Week on week the industrial index was 5,19 percent in the shortened week.

The mining index was flat at 100,07 points as all resource counters remained unchanged.

Week on week, the mining index gained 20,16 points or 25,03 percent.

But on a year-to-date return basis, both indices closed in the red with the main industrial index shedding 3,58 percent while the mining index lost a comprehensive 49,75 percent since January last year.

Activity as represented by volumes and turnover value was on the high side with volumes totalling 21 million supported by a special bargain of 6,4 million shares traded in Pearl Properties worth US$211 000.

Total market turnover was up 57 percent to about US$2 million with bankers ABC and CBZ contributing the bulk of the value traded.

On a year to date basis the top performer was Fidelity Life soaring by 627 percent followed by TN up 399 percent. Cafca and Pelhams and Truworths capped the top five up 347 percent, 339 percent and 157 percent respectively. On the downside starafrica was the worst performer this year losing 87 percent while Bindura gave up 85 percent.

RioZim lost 82 percent while agrochemicals supplier Chemco fell 78 percent.

Hospitality group African Sun capped the shakers pack down 68 percent. Overall for the year shakers were 44 compared to 33 risers.

During the same in 2010, NTS topped the risers with a 200 percent while TN and Zeco were the worst performers of the year after losing 85 percent each.

Martin Kadzere

The Herald/03/01/2012