Bulls n Bears Daily Market Commentary : 08 Jul 2025

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Bulls n Bears Daily Market Commentary : 08 Jul 2025

 

 	



 

 	


ZSE commentary

 

ZSE market continues to falter...

 

The ZSE market continued to falter in the session as the AllShare Index fell 0.04% to 196.39pts while, the Agriculture Index retreated 1.03% to 157.16pts. The Mid Cap Index parred off 0.15% to close at 240.80pts. On the contrary, the ZSE top Ten Index added a negligible 0.0069% to end at 190.63pts. Brick manufacturer Willdale led the fallers of the day having lost 25.00% to end pegged at $0.0300. Following was Hippo Valley Estates that declined 6.85% to settle at $4.6950. Retailer OKZIM shed 1.26% to $0.2770 while, beverages manufacturer Delta eased 0.20% to land at $13.2000. Ecocash Holdings completed the losers of the day on a 0.04% retreat to settle at $0.1395. Partially mitigating today's losses was FBC Holdings that climbed 1.98% to finish at $7.7502. Another banking group NMB Holdings followed after rising 0.07% to $3.7025 while, Tanganda Tea Company added 0.05% to $0.9000. Telecoms giant Econet improved 0.04% to close at $3.8000 while, Seed Co Limited capped the gainers of the day on a 0.03% lift to $2.4033.

 

 

Gainers and fallers of the day were equally distributed at five. Foreigners were net sellers in Econet as 2.58m shares worth $9.83m exchanged hands. Econet Wireless highlighted the session as it drove both the volume and value aggregates claiming 82.46% of the former and 90.41% of the latter. Activity aggregates improved in the session as turnover soared 385.64% to $11.27m while, volumes traded surged 222.71% to 3.25m shares. The Tigere REIT shed 0.07% to close at $1.3354 as 19,443 units exchanged hands in the name.

 

 <mailto:info at bulls.co.zw> 

 

South Africa

 

South African rand slumps after Trump's tariff threat on BRICS-aligned countries

 

 

JOHANNESBURG (Reuters) -South Africa's rand fell on Monday as markets reacted to U.S. President Donald Trump's threat to impose additional tariffs on BRICS-aligned countries, while also awaiting updates on country-specific levies ahead of Washington's looming July 9 deadline.

 

Trump said on Sunday in a post on Truth Social that countries aligning themselves with what he called the "anti-American policies" of BRICS will be charged an extra 10% tariff, adding that there will be no exceptions to this policy.

 

At 1144 GMT, the rand traded at 17.7450 against the dollar, down about 1% from Friday's close and paring some of its recent gains.

 

South Africa, which is part of the BRICS group, said on Monday that it is not anti-american and that the group of developing countries should be seen as a push for "reformed multilateralism, nothing more".

 

"The additional 10% BRICS tariffs would add further drag to South Africa’s export competitiveness," said Annabel Bishop, Investec's chief economist. As a result, she said, the rand is expected to remain volatile for the rest of the month and early August.

 

Trump said the U.S. is close to finalising several trade pacts in the coming days and will notify other countries of higher tariff rates by July 9, set to take effect on August 1.

 

Trump imposed a 31% tax on U.S. imports from South Africa in April as part of his global tariff policy and Pretoria has been trying to negotiate a trade deal since May, when the U.S. leader hosted President Cyril Ramaphosa for talks in the White House.

 

South Africa aims for a deal that would exempt some of its key exports from the tariffs, including autos, auto parts, steel, and aluminium in exchange for buying liquefied natural gas from the United States over a 10-year period.

 

"SA still has a significant bargaining position if one focuses on the mining industry and some of the rare earth minerals that the country can provide over and above its position as the world’s largest platinum producer," ETM Analytics said in a research note.

 

The Johannesburg Stock Exchange's Top-40 index was last down 0.1%.

 

South Africa's benchmark 2035 government bond was weaker, with the yield up 9.5 basis points at 9.835%.

 

 

 

 

Nigeria

 

Naira Maintains Stability in Official Market, Closes at N1,529/$1

 

The naira maintained its rate in the official market on Tuesday, holding firm at N1,529/$1, the same as the previous day.

 

According to data from the Nigerian Foreign Exchange Market (NFEM), the currency traded between N1,527/$1 and N1,532.50/$1 during Tuesday’s session

 

This marks the third consecutive day the naira has held this level, signalling a moment of calm in the foreign exchange market and suggesting that ongoing economic reforms may be taking effect.

 

In the parallel market, however, the naira weakened slightly against other foreign currencies. It fell to N1,555/$1 from N1,550/$1, dropped to N2,135/£1 from N2,130/£1 and declined to N1,790/€1 from N1,780/€1.

 

The naira’s relative stability in the official market indicates that Nigeria’s ongoing economic reforms are beginning to yield results.

 

However, sustained intervention by the Central Bank of Nigeria (CBN)  will be pivotal in maintaining this stability.

 

 

 

 

 

 

 <mailto:info at bulls.co.zw> 

 

Global Market

 

 

Dollar rises after Trump announces Japan, South Korea tariffs

(Reuters) - The dollar rose sharply against other major currencies on Monday, after U.S. President Donald Trump announced new tariffs set to go into effect August 1 for a spate of countries including Japan and South Korea.

 

Trump posted letters to the leaders of several countries on his social media platform, saying that he would impose tariffs of 25% on Japan and South Korea. He also sent letters to the leaders of Malaysia, Kazakhstan, Myanmar, South Africa and Laos, all of which outlined tariffs close to the levels previously announced for each country in April.

 

 

The dollar's rise was most pronounced against the yen, and was last up 1.09% at 146.130.

The dollar was up 0.38% to 0.798 against the Swiss franc on Monday.

"There were some country-specific things that were already putting some of these currencies on the back foot," said Brad Bechtel, global head of FX at Jefferies. "But clearly, the news this morning out of the U.S. with Trump and the tariffs is definitely hitting currencies other than the dollar, for a change."

The euro slipped 0.57% to $1.172 having rallied over 13% so far this year.

 

Investors are concerned that Brussels might not be able to secure deals with Washington ahead of the deadline as progress on agreements with the European Union has been slow, despite multiple rounds of negotiations.

Most U.S. trade partners face the prospect of steeper duties at the end of the 90-day moratorium on U.S. President Donald Trump's "Liberation Day" reciprocal tariffs on Wednesday.

 

Trump has also threatened an additional 10% tariff on nations aligning with what he deemed to be the "anti-American" policies of the BRICS emerging economies.

The dollar index , which measures the currency against six major counterparts, rose 0.517% to 97.467, reaching a one-week high.

The index extended gains from last week when data reflecting labour market resilience pushed back expectations for imminent monetary policy easing by the Federal Reserve.

 

Still, the index is close to a 3-1/2-year trough and has declined 10% so far this year as investors questioned the safe-haven status of the U.S. currency and reassessed earlier expectations that the U.S. could be spared in the event of a global economic slowdown.

Sterling weakened 0.26% to $1.362, but stayed near its strongest level since October 2021.

Currencies positively correlated to risk appetite, such as the Aussie dollar and the New Zealand dollar lost 0.79% and 0.74%, respectively ahead of monetary policy decisions in both countries in the coming two days.

 

The Reserve Bank of Australia is widely expected to cut the cash rate by another quarter point on Tuesday, while New Zealand's central bank is predicted to hold rates steady on Wednesday.

 

U.S. policy uncertainty weighing on the dollar "may not be as potent as in early April, but we think this correlation still matters," Paul Mackel, global head of FX research at HSBC said.

 

 

 <mailto:info at bulls.co.zw> 

 

Gold price declines alongside a bearish correctional trend line  

Gold price continues to decline due to bearish correctional trend line and weakness in bullish momentum below EMA50

RSI indicators show positive overlapping after reaching oversold levels, temporarily calming the decline

Extra technical signals needed to support upcoming moves and limit losses on near-term basis

 

The (Gold) price continued its decline in its last intraday trading, affected by the dominance of the bearish correctional trend on the short-term basis and trading alongside a bias line, and the negative pressure remains valid due to the price stability below EMA50, indicating weakness in the bullish momentum.

 

 

On the other hand, the (RSI) indicators began showing positive overlapping after reaching oversold levels, assisting in calming the decline temporarily, and limiting the losses on the near-term basis, if there are extra technical signals to support the upcoming moves.

 

The (EURUSD) declined slightly in its last intraday trading, with the continuation of the bearish correctional trend domination on the short-term basis, the price is under clear negative pressure due to its trading below EMA50, indicating the bullish momentum currently.

 

 

The negative signals on the (RSI) assisted in reinforcing the selling pressures, after the price success in offloading the clear oversold levels in the previous periods, opening the way for more correctional moves.

 

 

 

 

 


 

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 

 

 

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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.

 

 	

 

 

 	


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