Stage set for establishment of an alternative exchange

THE continuous rowth of small and medium enterprises in the country is setting the tone for the establishment of an alternative exchange. Globally, SMEs are being hailed for their pivotal role in promoting grassroots economic growth and equitable sustainable development thus the need for the setting up of a secondary bourse to enable SMEs to access growth capital. The concept of secondary bourses originated from the difficulties faced by SMEs in gaining visibility and attracting sufficient trading volumes when listed along with other stocks on the Main Board of stock exchanges. INDUSTRIALS The Industrial Index advanced by 1.99 points (1,26 percent) to close at 160.30 points. Econet led the movers with a $0,0225 gain to close at $0,3000, Innscor gained $0,0083 to $0,5358 while Meikles went up by $0,0050 to trade at $0,1970. Power Speed increased by $0,0047 to end at $0,0282 while OK Zimbabwe and Old Mutual were each $0,0025 higher at $0,0700 and $3,7625 respectively.

Seed manufacturer SeedCo was the only lame duck as it lost $0,0180 to settle at $0,9820.

Week on week Industrial index put on 6.97 points (4,55 percent). MININGS The Mining index was flat at 69.21 points. Bindura, Falgold, Hwange and RioZim remained unchanged at previous trading levels at $0,0295, $0,0100, $0,0233 and $0,5500 in that order.

Week on week Mining index came off 1.77 points (2,49 percent).