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Zimbabwe stock market plunges after Mugabe victory
August 5, 2013 / 10:25 AM / 4 years ago

Zimbabwe stock market plunges after Mugabe victory

HARARE, Aug 5 (Reuters) - Zimbabwe’s main stock market index fell 11 percent on Monday in its first trading day since official results confirmed President Robert Mugabe would extend his 33 years in power after trouncing Prime Minister Morgan Tsvangirai, who is contesting the outcome.

The industrial index fell to 205.57 points in the mid-morning session, with all the top-ten shares save for the local unit of insurance giant Old Mutual trading in the red.

The bourse’s biggest company, Delta Corporation, the local unit of global brewer SAB Miller, crashed 20 percent to $1.20 a share. (Reporting by MacDonald Dzirutwe; Editing by Ed Cropley)

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