Econet drags industrials lower

Home/Comment, Company, ECO/Econet drags industrials lower

A 10% drop in Econet’s share price saw the main Industrials Index shed 0.55% on Wednesday to close the day at 120.24 points. The drop in Econet’s share price follows the company’s release of its interims results for the period ended 31 August 2016 which showed a 37% decline in profit after tax.By the close of trading, Econet was down 3 cents to 27 cents. Turnover for the day was below the average at $682,710. Masimba also dropped an almost similar 10.59% to 0.76 cents. Banking stocks however fared better with Barclays Bank adding 2.44% to 2.1 cent, CBZ put on 0.77% to 10.48 cents, while FBCH gained 0.79% to 7.7 cents.

By |November 2nd, 2016|Categories: Comment, Company, ECO|

About the Author:

Kudzanai Sharara
Kudzanai’s background in financial journalism with ZFN, combined with a continuing education in financial management, provide a solid grounding for his work in the research department.