Zimbabwe stocks continues positive run

THE Zimbabwe Stock Exchange defied global market developments gaining 0.06% but oil prices retreated 1.5% after breaching the $70 mark due to Iran US tensions after the death of a top Iranian commander.

After opening the year on a positive note the Zimbabwe Stock Exchange registered a second day of gains scoring 0.06% to 233.67 points. The top 10 index also gained marginally by 0.36% to 208.63 points with the newly established Top 15 Index surging by 0.31% to 209.60 points. Top gainers were Willdale which went up 15.25% to 3.47 cents, TSL rose 5.6% to 80 cents, Ok Zim firmed 4.71 % to 64.68 cents and lastly, Zimpapers surged 4.4 % to 14 cents. On the opposite end, Riozim fell 16.67% to 225 cents, Edgars lost 14.29 % to 18 cents, Afdis was down 18.98 % to 300.02 cents with Natfoods declining 0.11% to 900 cents.

In Regional and global markets, the JSE all-share index added 0.35% to 57397.62 points, in the US talks of retaliatory attacks by Iran has weighed down investor sentiment with all major global stocks including the Dow Jones, S%P 500, NASDAQ and the FTSE in UK shedding value.

The local dollar traded 16.88 against the US dollar, 22.22 against the British pound and it was being exchanged for 18.893 with the Euro. Against regional currencies the Zimbabwe dollar was averaging 1.584 to the Botswana Pula and 0.8401 to the SA rand.

In commodities, gold prices added 0.18% to $ 1571.70 per ounce p. After a spike-triggered by the death of Qasem Soeliman, oil tumbled by 1.5% to $67.86 as investors rethink the Middle East disruption risk.