Bulls n Bears Daily Market Commentary : 09 April 2018

Tue Apr 10 09:25:55 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 : 09 April 2018

 <mailto:info at bulls.co.zw> 

Zimbabwe Stock Exchange Update

Market Turnover $822,825.07 with foreign buys at $159,642.50 and foreign
sales were $264,707.48. Total trades were 26.

The All Share index rebounded 0.63 points  to close at 87.84 points as
trading was dominated with movers. ECONET  went up by $0.0287 to close at
$0.7000, CBZ HOLDINGS   and NMB HOLDINGS  both added $0.0100 to trade at
$0.1100 and $0.1000 respectively. SIMBISA rose by $0.0085 to $0.3675,
INNSCOR  went up by $0.0047 to end at $0.9675 while PROLPLASTICS  was
$0.0010 firmer at $0.0740.

Two counters lost ground; OLD MUTUAL   dropped $0.0026 to close at $5.6200
and MASHONALAND HOLDINGS  shed 0.0020 to settle at $0.0250.

 <mailto:info at bulls.co.zw> 

Global Currencies & Equity Markets

South  Africa

South Africa rand weaker as risk appetite wanes, stocks up

(Reuters) - South Africa’s currency weakened against the dollar on Monday,
slipping to its weakest in more than two weeks in a broad sell-off of
emerging market currencies as fears of a U.S.-China trade war weighed on
global risk appetite.

At 1525 GMT the rand was 0.46 percent weaker at 12.0825 per dollar compared
to its opening of 11.9725. The rand slipped to its weakest since March 19,
and threatened to touch a 2-month low. Stocks rose, meanwhile.

On Monday, China upped its retaliation to President Donald Trump’s proposed
tariffs. Beijing has said it would be impossible to negotiate under “current
circumstances”, assigning blame to Washington for the rising tension.

In the fixed income market, bonds were also weaker, with the yield on the
benchmark government paper due in 2026 up 2.5 basis points to 8.08 percent.

On the bourse, the benchmark Top-40 index rose 0.51 percent to 49,391 points
while the All-Share index rose 0.38 percent to 56,092 points.

Local shares benefited from positive sentiment for emerging markets stocks,
with the wider emerging market benchmark up 0.2 percent.

Among the biggest gainers on the All-share, EOH Holdings rose 11.26 percent
to 47.94 rand, real estate firm Resilient REIT gained 6.96 percent to 63.50
rand Royal Bafokeng Platinum lifted 2.74 percent to 26.25 rand.

Uganda

Ugandan shilling steady after central bank holds key rate

(Reuters) - The Ugandan shilling traded in a stable position on Monday as
the central Bank of Uganda maintained its benchmark lending rate unchanged
at 9 percent.

At 1203 GMT commercial banks quoted the shilling at 3,690/3,700, the same
level as Friday’s close.

America

Asian shares pressured as Wall St ends off highs, focus on Xi speech

(Reuters) - Asian shares edged lower on Tuesday as Wall Street retreated
from its highs after the FBI raided the offices of U.S. President Donald
Trump’s long time lawyer, dampening risk appetite already under strain from
an escalating U.S.-China trade spat.

MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.2
percent. South Korea’s KOSPI fell 0.8 percent, while Japan’s Nikkei shed 0.4
percent.

The sharp pull-back on Wall Street late in Monday’s trading seems to be
dampening market sentiment, said Hirofumi Suzuki, an economist for Sumitomo
Mitsui Banking Corporation in Singapore.

News that the Federal Bureau of Investigation had raided the offices and
home of Trump’s personal lawyer Michael Cohen on Monday had put a dampener
on equities, which had rallied on signs of cooling in the China-U.S. trade
spat.

Cohen has been at the centre of a controversy surrounding payment to a porn
star who has alleged that she had sex once in 2006 with Trump and was paid
money shortly before the 2016 election to keep quiet about it.

On Wall Street on Monday, the S&P 500 stock index gave up intraday gains as
much as 1.9 percent to end up 0.3 percent.

Markets are keenly awaiting a speech by Chinese President Xi Jinping at the
Boao Forum on Tuesday, which could elicit Xi’s first reaction on the tariff
standoff with the United States.

Financial markets have been buffeted over the past week or so amid the
tit-for-tat tariff threats between the world’s two biggest economies.

On Monday, China stepped up its attacks Washington over billions of dollars
worth of threatened tariffs, but Trump again voiced optimism the two sides
would hammer out a trade deal.

Global equities managed to rally overnight on hopes the two sides will cool
tensions and avert a full-scale trade row, with oil prices up more than 2
percent overnight for their biggest daily percentage gain since March 21.

Brent crude futures rose $1.54 to settle at $68.65 a barrel.

Russian stock indexes and the rouble both fell sharply on Monday after the
United States hit Russian companies and officials with new financial
sanctions to punish Moscow for a range of activities, including alleged
meddling in the 2016 U.S. election.

The dollar-denominated RTS stock market index slid 11.4 percent, its largest
single-day drop since December 2014, while the rouble slid more than 4
percent against the dollar, the biggest loss since January 2015.

DOLLAR ON DEFENSIVE

The U.S. dollar nursed its losses after slipping against a basket of six
major currencies on Monday, hampered by persistent worries about the
U.S.-China trade conflict.

The dollar index held steady at 89.805, after shedding 0.3 percent on
Monday.

The euro inched up 0.1 percent to $1.2327, clinging to the gains made on
Monday when it rose 0.3 percent as comments from European Central Bank
President Mario Draghi were seen as supportive for the common currency.

A slide in stock markets this year has not materially impacted euro zone
financial conditions, Draghi said on Monday, suggesting that policymakers
remain calm about the recent market volatility.

Commodities Markets

Aluminium prices extend gains on Rusal sanctions

(Reuters) - London aluminium prices rose for a third session on Tuesday,
striking a five-week high, as U.S. sanctions on Russian producer United
Company Rusal  continue to fuel concerns over supply.

London aluminium is up 6.9 percent over the past three trading days, whereas
aluminium prices in top producer China have risen only 1.9 percent since the
Rusal sanctions were

announced on Friday.

China imported only 14,631 tonnes of primary aluminium from Russia in 2017,
according to Chinese customs data, although Russia was still its top foreign
supplier of the metal.

* LME ALUMINIUM: Three-month aluminium on the London Metal Exchange was up
0.4 percent at $2,148.50 a tonne by 0415 GMT, having jumped 4.8 percent in
the previous session, its

biggest daily jump since November 2011. It earlier touched $2,151 a tonne,
the highest since March 6.

* SHFE ALUMINIUM: The most-traded May aluminium contract on the Shanghai
Futures Exchange climbed 1 percent to 14,275 yuan ($2,267.13) a tonne by the
mid-session interval. It

earlier hit 14,345 yuan a tonne, the highest since March 7.  

* ARB: The arbitrage between ShFE and LME aluminium prices, which has helped
keep Chinese aluminium exports buoyant in recent months, narrowed by more
than 100 yuan to a discount of 1,356.97 yuan a tonne on Tuesday.  

* ALUMINIUM: Rio Tinto will be among the biggest winners from the U.S.
sanctions imposed on Russian aluminium giant United Company Rusal as the
penalties further shake up the global metals trade and boost costs for U.S.
consumers, industry sources said on Monday.

* COLUMN: U.S. sanctions on Rusal threaten aluminium turmoil: Andy Home.

* CHINA: Chinese President Xi Jinping on Tuesday promised to open the
country's economy further and lower import tariffs on products including
cars, in a speech that struck a conciliatory tone on the rising trade
tensions between China and the United States. 

* COPPER: Three-month copper in London was up 0.8 percent at $6,886 a tonne,
extending a 0.9 percent gain on Monday, while Shanghai copper climbed 1.2
percent to

50,930 yuan a tonne.

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

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/20180410/1339b002/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/20180410/1339b002/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/20180410/1339b002/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/20180410/1339b002/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/20180410/1339b002/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/20180410/1339b002/attachment-0009.jpg>