Economic Environment
Overall performance
Dividend declaration
Other issues in 2004
Future prospects
 

Weekly Market Commentary - 10 June 2006
weekly market commentary - 26 May 2006
weekly market commentary - 22 May 2006
Weekly Market Commentary - 12 May 2006
Weekly Market Commentary - 22 April 2006
Weekly Commentary - 24 March 2006
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WHAT DETERMINES GOOD FINANCIAL HEALTH?
THE CASE FOR A DERIVATIVE MARKET IN ZIMBABWE (PART II)
THE CASE FOR A DERIVATIVE MARKET IN ZIMBABWE
MANAGED OR FLOAT EXCHANGE RATE—WHICH ONE IS THE BEST SUITED FOR OUR ECONOMY?
WHAT THEN? WHEN THE MEDIUM OF EXCHANGE LEAKS VALUE…
IS MARKET TIMING RELEVANT?
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Weekly Market Commentary 29 July 2005
The bull run that started after the announcement of the inflation figures of June continued during the week despite a revision in the bank rate to 180% and 190% on secured and unsecured lending respectively. Market wide gains propelled both the industrial index and the mining index up as the appetite for equities remained strong on the back of higher current and anticipated levels of inflation in the outlook. The market expect the inflation situation to continue deteriorating as the year progresses, hence the need to reduce interest bearing assets in favour of stocks and real assets to preserve wealth. The mismatch between inflation and deposit rates is likely to continue, thereby causing investors to desert the money market in favour of the equities market...
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Weekly Market Commentary 05 August 2005
The bourse took a breather as from Thursday last week up to Monday the 1st of August on the background of profit taking on blue chip counters after a fine run that was induced by high inflation figures for the month of June. In addition, the central bank increased accommodation rate for the second time in two weeks as the fight against inflation intensifies. On 28 July, the accommodation rates were increased to 190% for secured accommodation while unsecured rate rose to 200% from 180% and 190% respectively. This could have provided an incentive to lock profits with a view to invest in less risk money market. However, the upward trend on the equities market started again on Tuesday and Wednesday with the industrial index registering a growth of 1.03% for the two day period...
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Weekly Market Commentary 12 August 2005
The equities market maintained the upward trend during the week on the background of expected high inflation figures for the month of July to be announced soon. Also, the reporting season that begun has increased the appetite for stocks as investors take positions to gain from the uplift associated with publication of results. ..
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Weekly Market Commentary 19 August 2005
The market softened over the week, with the industrial index loosing 1.17% to close the week at 4207981.21 points down from 4257771.58 last week. The mining index lost about 10% closing the week at 669319.66 points down from 743339.84 points last week. This loss was mainly driven by 13% loss in Wankie that closed the week at $3500 from $4050 and Rio Tinto that lost 7% to close at $24000. Other mining counters remained stable. ..
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Weekly Report 9 September 2005
There was no activity on the stock market as investor apathy continued this week. Traders remained on the side line as they wait for the outcome of the tripartite negotiations between Zimbabwe Stock Exchange, Ministry of Finance and Zimbabwe Revenue Authority. Reports has it that there is a deadlock with the Ministry insisting on the 10% withholding tax whilst the ZSE and the brokers are advocating for an increased stamp duty rather for easy of administration. ..
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Weekly Market Commentary 16 September 2005
The stock market traded firmer early this week with the industrial index recording an all time high of 4 744 675 points on Tuesday. This was mainly as a result of market correction after the resumption of trading on the local bourse on the background of the reduction of the 10% withholding tax on marketable securities to 5%.However, there was a downturn as from mid week that saw both the mainstream index and the industrial index shading 2% apiece to close the week at 4 470 278.32 and 697 140.45 points respectively as investors took profits. The introduction of the 5% tax on securities has caused smaller investors especially individual players to shun the bourse due to increased costs. This caused increased selling orders, pushing prices downwards despite excellent results posted by other counters like Turnall and Edgars. ..
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Weekly Market Commentary 07 October 2005
The upward run, mainly dominated by heavy weight counters continued this week sending the two indices to reach record time levels. The industrial index moved up by 41% to 6 677 823.25 from 4 746 680.54 points last week. The Mining Index went up by 55% to 991 771.41 points from 699 891.08 points. The surge was mainly due to movements in fungible stocks namely Old Mutual and PPC that were adjusting to the devaluation of the local currency...
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Weekly Market Commentary 23 September 2005
Sellers continued to dominate the equities market extending the bearish spell that started last week. The mainstream industrial index slid by 7% to close the week at 4 414 125.92 whilst the mining index shaded 8% to 681 631.64 points. Investors, especially individuals have thronged the bourse with selling orders trying to exit the market ahead of the new 5% withholding tax that will take effect on the 1st of October 2005. Behind this background, excellent results posted by firms like Econet, Colcom, Edgars, Turnall and Innscor have failed to excite the market. ..
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Weekly Market Commentary 14 October 2005
The equities market traded firmer during the week under review. The bullish trend was mainly driven by second tier stocks that were re-rating in line with the heavy caps that surged up in the previous week. The industrial index moved up by 18% to 8,468,274.99 from 7,160,852.61 points last week...
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Weekly Market Commentary 4 November 2005
The equities market remained firm during the week mainly driven by heavy counters and a general surge in counters across the market. The industrial index went up by 15% to close the week at 16 817 260.46 whilst the Mining Index registered a 20% growth to 2 065 654.67 points. The rise can be attributed to the effects of the third quarter Monetary Policy announced in October 2005. ..
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Weekly Report - 18 November 2005
The stock market continued to come down as investors crystallize profits. The industrial index lost 5% to close at 18 930 026.33 points from 19 900 543.46 points last week. The mining index retreated by 0.2% to 4 180 165.81 points. National Tyre Services was the highest gainer with a return of 144% to $1950. ..
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Weekly Market Commentary - 2 December 2005
Trading remained low during the week as investors waited for the year 2006 Budget that was presented on the 1st of December 2005. The industrial index dropped by a marginal 0.95% to 16 139 165.94 points from 16 294 072.71 last week and the Mining Index posted a 0.24% gain to close at 3 679 488.26 points buoyed by gains in Falgold and Halogen. ..
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Weekly Market Commentary - 12 January 2006
The New Year started off on a bullish note as a result of low interest rates obtainable on the rival money market. In addition, the market expected a high inflation figure for the month of December 2005 which was then announced to be 585% year on year.. ..
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Weekly Commentary - 27 January 2006
The bullish trend continued during the week ending 24 January 2006 with the industrial index going up 22% to close at 36 379 560.71 points and the Mining Index putting on 7% to close the week at 10 710 752.09. Year to Date return as at 24 January 2006 stood at 875 and 51% for the Industrial and Mining Indices respectively. ..
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Weekly Commentary - 3 February 2006
The week ended on a bearish note as investors lock profit after a fine run by almost all stocks during the month of January 2006. As a result, the industrial index shaded 9% in three days to close at 44 287 853.98 points on 01 February 2006. On the other hand, the industrial index lost 0.49% during the same period to close the week at 11 838 998.95 points...
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Weekly Commentary - 24 March 2006
The equities market continued to tumble with major counters trading at discounted levels from last week as the central bank maintained a tight monetary policy. Shortages on the money market maintained high interest rates luring investors to the less risk money market instruments. ..
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Weekly Market Commentary - 22 April 2006
The bourse showed signs of recovery during the week ended 20 April 2006 as the stock market factored in high inflation figures for the month of March 2006. In addition, expected excess liquidity in May and June behind a backdrop of heavy Treasury bills maturity is likely to dampen interest rates on the money market;..
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Weekly Market Commentary - 12 May 2006
The stock market went on a rampage during the week ending 12 May 2006 resulting in the Industrial Index increasing by 34% to close at a three months high of 45 368 054.33 points. Like wise, the Mining Index increased by 65% to close the week at 12 681 122.41 points. The surge across the board on the bourse was mainly as a result of the anticipated high inflation figures for the month of April that broke the 1000% mark for the first time and developments on the money market...
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weekly market commentary - 22 May 2006
Abnormal investment pattern was experienced on the stock market during the week ending 19 May 2006 with both the stock market and money market loosing ground from last week levels. Ideally, if money market rates are low, one would expect the stock market to surge. ..
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weekly market commentary - 26 May 2006
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Weekly Market Commentary - 10 June 2006
Interest rates dropped during the week ending 09 June 2006 from the previous week levels mainly due to heavy treasury bills maturities during the week. The week ended on Friday with a market position of $2 trillion up and the forecast stood at $2.1 trillion down...
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