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ZSE rally continues unabated

September 12, 2017 11:01 AM
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ZSE rally continues unabated

Harare - The Zimbabwe Stock Exchange (ZSE) is now trading above the $8.5bn mark for the first time since dollarisation, a 507% jump from its level of $1.4bn when the Zimbabwean economy was dollarised.

As of September 11 2017, the ZSE’s main Industrials index was up 108% from the beginning of the year, and is on course to record its highest year-to-date gain since 2009.

One of the most notable gains recorded by ZSE-listed companies is that of Old Mutual [JSE:OML], which is also listed on the JSE and London Stock Exchange.

At a price of $5, the stock is currently trading at a 90% premium to its share price on both the JSE and the LSE.

This has prompted some investors to buy Old Mutual shares on the JSE and sell them on to the ZSE.

Other notable stocks include Anheuser-Busch Inbev [JSE:ANH] associate Delta Corporation, which is trading at an all-time high of $1.82.

The ZSE has been on a rally for most of this year as cash-rich individuals and companies try to hedge against currency uncertainties.

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Source: fin24.com

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