Market report: Trimming down of products requiring export licences welcome

by Sunday News Online | Sunday, Oct 8, 2017 | 217 views

AS part of the ongoing Ease of Doing Export Business — Rapid Results Initiative, Government, through the Ministry of Industry and Commerce, has reduced the number of products that require export licences. The reduction was done through Statutory Instrument (SI) 122 of 2017, which was published on 22 September 2017. Some of the products that were removed from the list include butter, cream, vegetable oil, margarine and melamine boards, among others. The move will go a long way towards improving the ease of doing export business.

INDUSTRIALS

The Industrial Index ended the week higher at 448.83 points after putting on 4.56 points (1,03 percent). As British American Tobacco gained a further $1,4242 to close at $36,4242, National Foods traded $0,3094 solid at $6,4600 and Old Mutual added $0,1407 to close at $10,1571. Econet was $0,0369 firmer at $1,1025 and First Mutual Holdings moved up $0,0200 to close at $0,1200.

Counters which traded in the negative territory included Axia which came off $0,0183 to settle at $0,3117, Padenga went down $0,0130 to $0,8869 and Innscor retreated by $0,0095 to trade at $1,7905. Masimba shed $0,0090 to close at $0,0710 while Meikles was $0,0041 lower at $0,3936.

Week on week the industrial index increased by 30.44 points (7,28 percent).

MININGS

The Mining index was unchanged at 140.71 points. Bindura, Falgold, Hwange and RioZim remained unchanged at $0,0720, $0,0200, $0,0374 and $1,0100 respectively.

The mining index was up by 18.14 points (14.80 percent) compared to week ending 29 September 2017.

 

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