HomeBusiness DigestZSE heavyweights’ losses weigh down equity market

ZSE heavyweights’ losses weigh down equity market

THE Zimbabwe Stock Exchange industrial index yesterday closed trades 0,58% down to 130,91 points weighed down by losses in Delta and Innscor, the bourse’s two biggest counters respectively by market capitalisation.

Gains in Econet, Afdis and Seedco, the only three risers, were not enough to steer the equities market to positive territory. Official figures show that 43 out the 59 active counters traded unchanged.

ZSE heavyweight, Delta, whose parent company SABMiller agreed to takeover by the world largest brewer Anheuser-Busch InBev, was down 0,1%, while Innscor also shed 1,8% of its share price after announcing progress on the unbundling of its quick service restaurants.

The world’s two biggest brewers agreed on Tuesday to create a company making almost a third of the world’s beer after SABMiller accepted an offer worth more than US$100 billion from larger rival Anheuser-Busch InBev.

The mining index was flat on 23,57 points.-Staff Writer

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