Bulls n Bears Daily Market Commentary : 15 April 2025

Wed Apr 16 06:28:21 CAT 2025

 <http://www.bullszimbabwe.com> Bullszimbabwe.com         <mailto:bulls at bulls.co.zw> Views & Comments        <http://www.bullszimbabwe.com> Bullish Thoughts        <http://www.twitter.com/BullsBears2010> Twitter         <https://www.facebook.com/BullsBearsZimbabwe> Facebook           <http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn          <mailto:%20bulls at bullszimbabwe.com?subject=Unsubscribe> Unsubscribe

Bulls n Bears Daily Market Commentary : 15 April 2025

ZSE commentary

ZSE reverses prior session's gains..

The ZSE market  reversed prior session's gains as it retreated 1.06% to close at 198.38pts while, the Blue-Chip Index was 1.52% weaker at 190.58pts. The Agriculture Index was 2.46% lower at 175.20pts while, on the contrary the Mid Cap Index was 0.28% firmer at 250.74pts. Leading the laggards of day was banking group CBZ that shed 14.46% to $5.5600 while, cigarette producer BAT eased 10.58% to $74.0000 as 7,900 shares exchanged hands in the name. Retailer OKZim that is trading under a cautionary parred of 0.81% to $0.3400 while, bankers FBC trimmed 0.40% to $7.5000.

Nampak capped the top  five  worst   performers  of  the  day  on  a  0.04%  loss  to $1.1495 . Partially offsetting today's losses were gains in mid cap counters that clinched four spots in the risers list. Sugar processor Star Africa led the gainers as it edged up 10.87% to $0.0443, trailed by Ecocash that advanced 3.02% to $0.1494. Telecommunications   giant   Econet  was   0.16%  firmer   at $2.7048  while,  tea  producer  Tanganda   added  0.08%  to $1.0008 . Seed producer SeedCo Limited gained a negligible 0.01% to $2.6300 .

Activity aggregates faltered in the session as volume of shares traded declined by 71.50% to 700,800 shares while, turnover was 51.74% lower at $5.35m. The trio of Econet, Delta and SeedCo Limited drove the volume outturn of the day as they claimed a combined 87.83% of the total traded. Beverages giant Delta drove the turnover aggregate of the day as it claimed 69.00% of the total traded. In the ETF category, no trades were recorded. The Tigere REIT was 2.16% higher at $1.1725 as 3,434 units traded in the name.efesecurities

 <mailto:info at bulls.co.zw> 

South Africa

South African rand recovers further on bets coalition will hold

(Reuters) – The South African rand extended gains in early trade on Tuesday, bolstered by bets that the country’s coalition government will remain intact despite disagreements over the budget.

At 0725 GMT the rand traded at 18.84 against the U.S. dollar, about 0.4% firmer on the day.

The rand fell to a record low last Wednesday on risk aversion over U.S. President Donald Trump’s trade war and concerns that South Africa’s national unity government could split.

But it has recovered sharply since, helped by signs that the coalition partners are trying to resolve the budget impasse and a Sunday news report that the biggest political party, the African National Congress, may back down on a plan to raise value-added tax, the budget’s most contentious element.

“News doing the rounds that the ANC may backtrack on their VAT increase as support from the other smaller parties is waning has … helped the local unit to better levels,” Rand Merchant Bank analysts said.

Analysts cautioned that Trump’s changing tariff plans were likely to be a source of ongoing volatility. But they said the rand’s recovery could have further to run if local political headlines stay positive.

South Africa’s benchmark 2030 government bond was marginally stronger in early deals, as the yield fell 2 basis points to 9.195%.

Nigeria

Naira Gains Value Against Dollar on Black Market

The naira appreciated against the dollar in the parallel foreign exchange market on Monday, marking a positive start to the week.

According to Abubakar Alhasan, a Bureau de Change operator based in Wuse Zone 4, the local currency traded at ₦1,610 per dollar on Monday, an improvement from the ₦1,620 rate recorded last Friday. He attributed the gain to reduced demand for the U.S. dollar at the beginning of the week.

Alhasan reportedly said that the appreciation was driven by weak dollar demand on Monday.

The development reflects a ₦10 day-on-day gain for the naira in the unofficial market.

CBN_naira_dollar (News Central TV)

However, the trend was different at the official market, where the naira experienced a slight decline. According to data from the Central Bank of Nigeria, the local currency closed at ₦1,603.78 per dollar on Monday, down from ₦1,604.48 on Friday. This represents a marginal loss of ₦0.70 against the dollar.

The naira had ended last week on a negative note at the official foreign exchange window, weakening against the greenback on Friday.

Monday’s foreign exchange performance precedes the anticipated release of Nigeria’s consumer price index and inflation statistics by the National Bureau of Statistics, scheduled for Tuesday.

 <mailto:info at bulls.co.zw> 

Global Markets

Dollar gains on euro, yen, but tariffs keep investors cautious

(Reuters) - The dollar rose against the euro and yen on Tuesday, showing tentative signs of recovery following a sharp selloff that saw the dollar index tumble more than 3% last week.

Investors nonetheless remain cautious on concerns about the impact of U.S. President Donald Trump's trade tariffs on the U.S. economy.

Rapid shifts in tariff announcements have reduced faith in U.S. policymakers and led investors to seek calmer waters outside of the United States, which last week sent Treasury yields sharply higher and dented the appeal of the greenback.

"The dollar has been primarily driven by asset flows rather than traditional short-term drivers such as rate differentials," said Vassili Serebriakov, FX and macro strategist at UBS, adding that "it does appear that the market is driven by a rethink of U.S. exceptionalism."

Factors driving the move away from the U.S. include "the slowdown in the U.S. economy, uncertainty about tariffs, broader U.S. policy uncertainty, improved sentiment towards Europe, rotations out of U.S. tax, things like that," Serebriakov said.

Data on Tuesday showed that U.S. import prices unexpectedly fell in March, pulled down by decreasing costs for energy products, the latest indication that inflation was subsiding before Trump's sweeping tariffs came into effect.

Trading this week has so far been relatively calm but investors remain cautious as they wait on further tariff clarity.

"Last week was all about deleveraging, liquidation, and asset re-allocation out of U.S. assets. This week's tone is calmer in what is a holiday-shortened week," said Prashant Newnaha, senior Asia-Pacific rates strategist at TD Securities.

Most U.S. markets will be closed for this week's Good Friday holiday though foreign exchange will remain open.

The euro was last down 0.70% on the day at $1.127, after last week reaching a three-year high at $1.1473.

Euro/dollar is one of the most overvalued currency pairs, showing that the single currency is acting as "the preferred channel for loss of confidence in the dollar," ING analysts Francesco Pesole and Benjamin Schroeder said in a note.

The shift from U.S. to European assets, combined with the diminished safe-haven appeal of the dollar, may continue to justify the euro's overvaluation, they added.

German investor morale in April posted its strongest decline since Russia invaded Ukraine in 2022 due to uncertainty unleashed by U.S. tariffs, data showed on Tuesday.

Euro zone banks also curbed firms' access to credit last quarter and expect to keep tightening credit standards due to increasing concerns about the economic outlook, the European Central Bank's lending survey showed.

The ECB is expected to cut rates by 25 basis points when it concludes its two-day meeting on Thursday.

The dollar gained 0.12% against the Japanese yen to 143.16 yen per dollar, not far off Friday's six-month low of 142.05.

Japan will seek full removal of additional tariffs imposed by Trump, its top negotiator, Ryosei Akazawa, said on Tuesday, ahead of his scheduled three-day visit to Washington.

The dollar gained 0.91% to 0.822 Swiss francs after slumping to a 10-year low against the Swiss currency last week.

Sterling was up 0.15% at $1.3209 after earlier reaching $1.3252, the highest since October 3.

The Australian dollar rose 0.32% to $0.6345 and the New Zealand dollar rose 0.39% to $0.5899 and earlier reached $0.5943, its highest since November 13.

In cryptocurrencies, bitcoin fell 0.52% to $84,436.

 <mailto:info at bulls.co.zw> 

Gold Breaking: Gold price hits an all-time high near $3,275

The Gold price (XAU/USD) extends the rally and reached a record high near $3,275 per troy ounce during the early Asian session on Wednesday. Safe-haven demand amid US President Donald Trump's uncertain tariff plans, softer US Dollar (USD) and prospects of further easing by the Federal Reserve (Fed) provide some support to the yellow metal. 

INVESTORS DIARY 2025

Company

Event

Venue

Date & Time

Counters trading under cautionary

CBZH

GetBucks

EcoCash

Padenga

Econet

RTG

Fidelity

TSL

FMHL

ZBFH

Invest Wisely!

Bulls n Bears 

 Invest Cellphone:            +263 71 944 1674 | +27 79 993 5557 

Email:               bulls at bullszimbabwe.com

Website:            www.bullszimbabwe.com 

Blog:                 www.bullszimbabwe.com/blog

Twitter (X):        @bullsbears2010

LinkedIn:           Bulls n Bears Zimbabwe

Facebook:          www.facebook.com/BullsBearsZimbabwe

Skype:         Bulls.Bears 

DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of Faith Capital (Pvt) Ltd for general information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities. The information contained in this report has been compiled from sources believed to be reliable, but no representation or warranty is made or guarantee given as to its accuracy or completeness. All opinions expressed and recommendations made are subject to change without notice. Securities or financial instruments mentioned herein may not be suitable for all investors. Securities of emerging and mid-size growth companies typically involve a higher degree of risk and more volatility than the securities of more established companies. Neither Faith Capital nor any other member of Bulls ‘n Bears nor any other person, accepts any liability whatsoever for any loss howsoever arising from any use of this report or its contents or otherwise arising in connection therewith. Recipients of this report shall be solely responsible for making their own independent investigation into the business, financial condition and future prospects of any companies referred to in this report. Other  Indices quoted herein are for guideline purposes only and sourced from third parties.

 (c) 2025 Web: www.bullszimbabwe.com Email: bulls at bullszimbabwe.com Tel: +27 79 993 5557 | +263 71 944 1674

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250416/83cc55f7/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250416/83cc55f7/attachment-0001.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 29359 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250416/83cc55f7/attachment-0002.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 37760 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250416/83cc55f7/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 130902 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250416/83cc55f7/attachment-0001.obj>