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ZIMBABWEAN STOCK SHRUGS OFF MONETARY POLICY
THE EQUITIES market has discounted an imminent monetary policy review expected soon, with the key industrial index gaining by over 10% as speculation swirled, and Reserve Bank governor Gideon Gono was unlikely to adjust interest rates upward. The mainstream industrial index rose by 9.63% to close at 4,714,402.81 points, from 4,300,423,14 points previously.
Stockbrokers said foreign currency-earning stocks had gained largely from a rampage on the parallel foreign currency market where the Zimbabwe dollar had lost significant ground against the dollar.
Delta and Tanganda were both $500 firmer to close at $6,500 and $4,000 respectively. Marginal losses were recorded in BAT, which shed $5,000 to $60,000 and Gulliver, which retreated by $200 to $3,300.
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