Second Chinese visit signals interest to invest

THE second visit by the Chinese Government’s National Development Reform and Commission China delegation three weeks ago was an indication of its interest to invest in the country further stating that it comes at an opportune time when the country is in dire need of Foreign Direct Investment. The country needs at least $4 billion FDI per year for five years to significantly turn things around. We look forward to actual investment taking place in various sectors to spur economic activity INDUSTRIALS The Industrial index closed the week higher at 123.22 points after gaining 0.36 points (0,29 percent) in trading dominated by heavyweight counters. British American Tobacco led the movers with a $0,1000 gain to close at $15,3500.Natfoods inched forward $0,0500 to settle at $3,3500 while Delta gained $0,0115 to $0,7440. Other gains were in Padenga which increased $0,0100 to close at $0,1600, Barclays put on $0,0013 to close at $0,0223 whilst CBZ and Innscor closed higher at $0,1050 and $0,3118 after gaining $0,0005 and $0,0003 respectively. Old Mutual picked up $0,0004 to $3.2204 and Simbisa Brands increased by $0,0003 to $0,1418.

Dawn Properties, First Mutual and Seedco all traded unchanged at $0,0160, $0,0250 and $0,8200 respectively.

Trading in the negative was Econet which retreated $0,0199 to $0,2701 as PPC lost $0,0175 to $0,4825 as AXIA was down $0,0010 to close at $0,0570.

Week on week the industrials gained 2.88 points (2,39 percent). MININGS The Mining index added 0.77 points (2,20 percent) to close at 35.72 points. RioZim rose further by $0,0098 to trade at $0.2098. Bindura, Falgold and Hwange remained unchanged at previous trading levels at $0,0200, $0,0060 and $0,0300 respectively.

The mining index went up by 2.01 points (5,96 percent) compared to week ending 4 November 2016.