Zimbabwe Stock Exchange suffers heavy losses

Trading on the Zimbabwe Stock Exchange ended on a low note on the back of huge losses by the blue chip or heavyweight counters.

It was not a rosy day for investors within the market as share prices declined by an average of 5% leading to a drop in trading volumes.

Counters that gained included BAT whose share price went up by a cent to 197 cents, CFI  was 0,4 cents up to 5,4 cents, while OK  Zimbabwe share price rose by 0,1 cents to 10,1 cents.

On the shakers were Old Mutual who shed 46,14 cents to 155 cents; Murray and Roberts was 2,5 cents down to close at 7 cents; Pioneer share price declined by 1,7 cents to 1,8 cents; Econet was a cent down to 374 cents, while Colcom shed 0,99 cents to end at 30,01 cents.

On the mining or resources front there was little activity as investors assess the impact of international commodity prices on the value of locally listed mining firms.

Only Rio-Zim traded 3 cents down to close at 55 cents while other counters remained unchanged.

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