Mar­ket report

Ris­ing costs of pro­duc­tion, forex short­ages take toll on man­u­fac­tur­ing sec­tor

Sunday News (Zimbabwe) - - Finance -

CA­PAC­ITY util­i­sa­tion in the man­u­fac­tur­ing sec­tor de­clined to 45,1 per­cent in 2017 from 47,4 per­cent recorded last year as ris­ing costs of pro­duc­tion and for­eign currency short­ages, among other chal­lenges con­tinue to take a toll on the sec­tor. The Con­fed­er­a­tion of Zim­babwe In­dus­tries man­u­fac­tur­ing sec­tor sur­vey 2017 shows that other con­straints blight­ing the sec­tor in­clude com­pe­ti­tion from im­ports, an­ti­quated ma­chin­ery, which con­stantly breaks down, low lo­cal de­mand and ac­cess to fi­nance. INDUSTRIALS The In­dus­trial In­dex re­cov­ered 0.43 points (0,08 per­cent) to close at 514.30 points. British Amer­i­can To­bacco added $1,0000 to close at $38,0000 , Ce­ment maker La­farge in­creased by $0,0700 to trade at $0,9000 while OK Zim­babwe was up by $0,0177 to close at $0,2257. Delta re­cov­ered $0,0102 to set­tle at $3,0600 and Bar­clays gained $0,0011 to end at $0,0900.

On the neg­a­tive: Padenga lost $0,0375 to end at $0,7900, Meik­les de­creased by $0,0147 to $0,4253 and Axia (de­clined by $0,0145 to close at $0,2650. Innscor also lost $0,0133 to close at $1,6700 and Old Mu­tual (closed at $14,2886 after eas­ing by $0,0109.

Week on week the industrials lost 3.41 points (0,66 per­cent). MININGS The Min­ing in­dex went up by 5.76 points (4,38 per­cent) to close at 137.25 points after Bin­dura added $0,0071 to close at $0,0541 and Riozim im­proved by $0,0025 to close $1,1475. Fal­gold and Hwange re­mained un­changed at $0,0201 and $0,0374 re­spec­tively.

The min­ing in­dex gained 8.38 points (6,50 per­cent) com­pared to week end­ing 20 Oc­to­ber 2017.

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