Bulls n Bears Daily Market Commentary : 03 April 2018

Tue Apr 3 16:30:19 CAT 2018

 <http://www.bulls.co.zw/> Bulls.co.zw        <mailto:bulls at bulls.co.zw>
Views & Comments        <http://www.bulls.co.zw/blog> 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:info at bulls.co.zw?subject=Unsubscribe> Unsubscribe

Bulls n Bears Daily Market Commentary : 03 April 2018

 <mailto:info at bulls.co.zw> 

Zimbabwe Stock Exchange Update

Market Turnover $208,578.95 with foreign buys at $96,858.22 and foreign
sales were $48,893.82. Total trades were 27.

The All Share index inched up 0.02 points  to settle at 87.00 points. Three
counters gained ground as POWERSPEED added $0.0014 to close at $0.0700,
ARISTON put on $0.0008 to $0.0120 whilst OLD MUTUAL was marginally up by
$0.0005 to end at $5.6200.

There were no trades in the negative territory while heavyweights DELTA ,
ECONET  , INNSCOR  ,  PPC and SEEDCO  traded unchanged at $1.5875, $0.6700,
$0.9700, $0.9625 and 1.9500 in that order.

 <mailto:info at bulls.co.zw> 

Global Currencies & Equity Markets

Kenya

Kenyan shilling holds steady against the dollar

(Reuters) - The Kenyan shilling was stable on Tuesday as portfolio
investment dollar flows balanced out demand from importers, traders said.

At 0857 GMT, commercial banks quoted the shilling at 101.00/20 per dollar,
same as Thursday's close. Markets were closed on Friday and Monday for the
Easter holiday.

Uganda

Uganda shilling stable as wave of demand recedes

(Reuters) - The Ugandan shilling was stable on Tuesday, after a recent swell
in demand for hard currency from firms paying dividends subsided.

At 0916 GMT, commercial banks quoted the shilling at 3,685/3,695, unchanged
from last Thursday’s close. Markets were closed on Easter Friday.

Russia

Russia FX reserves were 47 pct dollar, 24 pct euro as of September - c.bank

(Reuters) - The Russian central bank said on Tuesday it held 46.5 percent of
its international reserves in dollars and 24.1 percent in euros as of Sept.
30, 2017, marking a shift towards the greenback over the preceding year.

The central bank, which reports changes in reserves with a delay of several
months, held 16.3 percent of reserves in gold and 8.1 percent in sterling.

At the end of September 2016, the dollar accounted for 40.1 percent of
reserves and the euro for 29.5 percent. 

Commodities Markets

Gold prices slip after Monday's surge

(Reuters) - Gold prices edged lower on Tuesday, having surged in the
previous session as falling U.S. stock markets and fears of a global trade
war pushed investors towards safer assets. 

Spot gold        was down 0.3 percent at $1,337.07 an ounce at 1231 GMT
after rising 1.3 percent on Monday. U.S. gold futures         were 0.4
percent lower at $1,341.20 an ounce.

Gold has struggled to break from a trading range of $1,310- $1,360 since the
start of the year.  

European stock markets continued to fall on Tuesday, led by technology
shares, but Wall Street futures suggested that U.S. markets would open
higher.             

The Trump administration is meanwhile expected this week to unveil a list of
advanced technology Chinese imports targeted for U.S. tariffs after Beijing
on Monday raised tariffs on 128

U.S. products, escalating a dispute between the world's two largest
economies.                          

Gold is often used as a safe place to park assets during times of financial
or political uncertainty. 

Funds have raised their bets on higher prices, with the net long position on
the Comex exchange rebounding from a three-month low.                  

Speculative investors have room to expand their long positions further,
which would help drive prices higher, analysts at Citi said in a note. 

Higher market volatility and rising tension between Washington and Beijing
will likely hold gold above $1,300 throughout 2018, they said. 

Momentum indicators suggested gold prices would rise, with technical
Fibonacci support at $1,317.25 and resistance at $1,361.80, analysts at
ScotiaMocatta said in a note. 

In other precious metals, spot silver        was down 0.4 percent at $16.55
an ounce after rising 1.8 percent in the previous session.

Platinum        was flat at $937.70 an ounce. 

Palladium        was up 0.4 percent at $938.45 after touching $927.75, its
lowest since Oct. 10.

Copper hits one-week high, shrugs off trade dispute

(Reuters) - Copper prices touched one-week highs on Tuesday as investors
bought on expectations the escalating trade dispute between China and the
United States would not undermine flows of metal.

Benchmark copper on the London Metal Exchange was untraded in official
rings, but bid up 1.1 percent at $6,790 a tonne from an earlier high at
$6,828.

China on Sunday announced tariffs on $3 billion in imports of U.S. food and
other goods in response to U.S. tariffs on imports of aluminium and steel.

TARIFFS: The U.S. is this week expected to announce tariffs on $50 billion
to $60 billion of Chinese imports following an investigation under Section
301 of the 1974 U.S. Trade Act.

PROTRACTED: “Over the course of April, we think investors will come to the
conclusion that the trade issue is going to be protracted and complicated
and will likely be “defanged” as it plods along,” INTL FCStone analyst
Edward Meir said in a note.

STOCKS: Traders expect higher inventories of copper, up 20 percent at
383,025 tonnes since March 22, in LME approved warehouses to cap price
gains. MCUSTX-TOTAL

TECHNICALS: Upside resistance for copper prices is at $6,830, near the
21-day moving average. Support is at $6,700, near the 200-day moving
average.

ZINC: Concern about the nearby availability of zinc on the LME market due to
one company holding between 50 and 79 percent of warrants has created a
premium of $12 a tonne for the cash contract over the three-month forward.
Three-month zinc slipped 0.1 percent to $3,272 a tonne.

NICKEL: Prices were up 2.3 percent at $13,600 a tonne from an earlier
two-week high at $13,660. Nickel’s gains have been fuelled by falling stocks
in warehouses monitored by the Shanghai Futures Exchange.

RESISTANCE: A break of key resistance at $13,450, where the 21-day and
55-day moving averages met, triggered a flurry of buying by funds.

PRICES: Aluminium was up 1.1 percent at $2,026 a tonne, lead added 0.2
percent to $2,399 and tin gained 1.1 percent to $21,300.

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

TSL

AGM

28 Simon Mazorodze Road, Southerton

27/03/2018 12pm

Willdale

AGM

19.5km peg, Lomagundi Road, Mount Hampden

29/03/2018 11am

Good Friday

30/03/2018 

Easter Monday

02/04/2018

Zimbabwe

Independence Day

Zimbabwe

18/04/2018

Workers’ Day

01/05/2018

Africa Day

25/05/2018

Zimbabwe

Heroes’ Day

Zimbabwe

13/08/2018

Zimbabwe

Defence Forces Day

Zimbabwe

14/08/2018

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) 2018 Web: <http:// www.bulls.co.zw >  www.bulls.co.zw Email:
<mailto:info at bulls.co.zw> info at bulls.co.zw Tel: +263 4 2927658 Cell: +263 77
344 1674

Invest Wisely!

Bulls n Bears 

Telephone:      <tel:%2B263%204%202927658> +263 4 2927658

Cellphone:      <tel:%2B263%2077%20344%201674> +263 77 344 1674

Alt. Email:       <mailto:info at bulls.co.zw> info at bulls.co.zw  

Website:
<http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw&sa=D&sntz=1&usg=AF
QjCNH8LYgdY55h-XKseuM8Kpr-JKdfhQ> www.bulls.co.zw 

Blog:
<http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw%2Fblog&sa=D&sntz=1
&usg=AFQjCNFoIy6F9IXAiYnSoPSgWDYsr8Sqtw> www.bulls.co.zw/blog

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

Facebook:
<http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimba
bwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA>
www.facebook.com/BullsBearsZimbabwe

Skype:         Bulls.Bears 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180403/b6d20957/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.jpg
Type: image/jpeg
Size: 3653 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180403/b6d20957/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 29401 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180403/b6d20957/attachment-0006.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/20180403/b6d20957/attachment-0007.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 159128 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180403/b6d20957/attachment-0008.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 4846 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180403/b6d20957/attachment-0009.jpg>