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Record one-day fall on stock exchange

    JOHANNESBURG

    The Zimbabwe Stock Exchange record its biggest one-day fall in its history on Tuesday when industrial prices dropped 9.01 percent at the close of trading.

    Brokers cited a sudden halt to buying by Old Mutual as the country reels from farm occupations, civil unrest and economic crisis. The index ended the day at 11,583 points, 18 percent down from the beginning of the year.

    Analysts said Old Mutual, a major South African-owned insurance house, had been propping up the market recently, and that others had taken fright at its decision.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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