Zimbabwe stocks slide as market reopens without Old Mutual

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Seedco and PPC also prevented from trading

A broker makes a bid at a morning trading session of the Zimbabwe Stock Exchange in the capital Harare. Picture: REUTERS

Activity was light, with 117 trades worth Z$10.25m comparing poorly with an average daily turnover of Z$95m in June. The market upheaval has added to an economic crisis in the southern African nation, where inflation has surged to more than 700% amid shortages of food, fuel and foreign exchange. The Zimbabwe dollar trades at more than 100 to the US dollar in the parallel market, compared with the official rate of 76.759.

 

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