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25 stocks gained more than 20% - Uncle Bob does it again

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ZFN-HARARE - 25 stocks gained more than 20% in today's trades to help the Industrials market gain more than 16%, while Minings ran amok with a record 42.28% gain after RioZim and Bindura clocked about 50% each. The Industrials index (IND.ZI) surged 2,073,747.01 points (or 16.38%) to 16,073,747.01. The Minings index (MIN.ZI) leapt 3,036,453.80 points (or 42.28%) to close at 10,217,643.43. Meikles Africa (MEIK.ZI) continued to push its market weight to 12.63% from 9.84% after gaining $40 000 (or 44.44%) to close at $140 000. Old Mutual (OML.ZI) remained the top share in terms of weight but down to 13.22% from 14.76%. The group was however up $10 000 to $255 000. PPC (PPC.ZI) was $400 000 stronger at $4.1 mln, while fellow blue chip Delta (DLTA.ZI) rose $1 600 to $13 600. Cottco (COTT.ZI) gained $500 to close at $7 000 ahead of its finals and analysts' briefing this week. Zimpapers (ZIMP.ZI) and Zimsun (ZMSM.ZI) were the best performing shares after they picked up $400 (or 160%) and $2 401 (or 150.06%) to close at $650 and $4 001 respectively. ZHL (ZIMR.ZI) was bid up to $3 000 in the afternoon call having traded steady at $2 000 in the morning session. The group will be holding its AGM tomorrow afternoon. 11 counters traded on the downside with Astra (ASTR.ZI) and Ariston (ARIS.ZI) sharing the top spot after dropping $300 and $500 (or 20%) each to close at $1 200 and $2 000 respectively. Minings closed firm as well with Riozim (RTNR.ZI) gaining $55 000 (or 52.38%) to close at $160 000, while Bindura (BIND.ZI) clocked $15 000 (or 50%) to close at $45 000.
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4 REPLIES 4
topgun
Super Contributor
lol you forgot the Z before the $. bring your wheelbarrow(s) along when you collect your profits. Bob the great liberator of value!!!
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destech
Contributor
Also keep in mind that inflation at 2000%, and profit up 50%, means their real earnings are 1950% less than last year :) Or were those US$ you quoted. Take for e.g. Hwange - EY >50% (nice and cheap when quoted in Z$), but you buy the share here in ZAR, meaning a realistic EY of 0.00000x% (x=factor of inflation)
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Q2W
Super Contributor
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Nope, all Zim currency; still, what's happening is that dudes are taking their Zimkwachas and putting them into the market, especially dual listed shares like Old Mutual and PPC, whose share price reflects the rand-parity and are therefore used as a gage of the true value of the Zim dollar; when investors cash out, they buy real dollars. But because the demand for inflation hedges is brisk, the zim stock market means investors stay ahead. To give you an idea of how lucrative it can be, while I was there in March one of the country's brokers was offered US$ 1million for a 50 percent share in his company by a US investment house. He turned it down. Point is, even in the worst crisis, there'l be folks who know how to turn a buck. Gotta love capitalism.
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