Bulls n Bears Daily Market Commentary : 16 April 2018

Mon Apr 16 20:34:13 CAT 2018

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Bulls n Bears Daily Market Commentary : 16 April 2018

 <mailto:info at bulls.co.zw> 

Zimbabwe Stock Exchange Update

Market Turnover $550,535.65 with foreign buys at $217,417.65 and foreign
sales were $235,950.00. Total trades were 12.

The All Share index opened the week on a high note adding 0.11 points  in
thin trading. AXIA  rose by $0.0200 to close at $0.2300 while SEEDCO  traded
unchanged at $1.9500. 

OLD MUTUAL   was the only counter in the negative territory losing $0.0067
to settle at $5.6519.

 <mailto:info at bulls.co.zw> 

Global Currencies & Equity Markets

South Africa

South Africa's rand firmer on lower risk aversion; stocks up

(Reuters) - South Africa’s rand inched firmer on Monday on subdued trade as
weak retail sales from the United States and nervousness globally over
Western missiles fired at Syria at the weekend kept investors on the
sidelines.

Stocks rose led by banks.

At 1632 GMT the rand was 0.12 percent firmer at 12.0650 per dollar compared
to 12.0800 close on Friday in New York. The rand has traded in a narrow
range over the last few sessions, breaching the 12 rand per dollar mark
briefly last week before worries of trade global war and mixed economic data
from China reawakened risk-off sentiment.

On Monday, U.S. retail sales in March rose following three months of
declines but failed to dispel some traders’ worries about economic growth
cooling, hobbling the dollar.

Emerging market currencies were also aided by firmer metal prices, with spot
gold up 0.3 percent at $1,346.91 an ounce and platinum rising 0.7 percent to
$934.

In fixed income, government bonds were flat, with the yield on the benchmark
instrument due in 2026 at 8.085 percent.

On the bourse, the benchmark Top-40 index gained 0.48 percent to 50,121
points while the All-Share index rose 0.3 percent to 56,733 points.

FirstRand rose 1.73 percent to 67 rand, while resources suffered due to the
stronger rand.

On the downside, one of the biggest decliners was Impala Platinum Holdings
Ltd fell 7.16 percent to 21.66 rand

AngloGold Ashanti, Africa’s largest gold producer, closed 1.5 percent lower
at 111.65 rand, after the firm announced that its CEO Srinivasan
Venkatakrishnan would take the top job at mining conglomerate Vedanta
Resources Plc 

Uganda

Ugandan shilling stable, to draw support from tax payments

(Reuters) - The Ugandan shilling       was stable on Monday and was expected
to gain ground as mid-month tax payments by most firms undermined demand for
dollars. 

At 1055 GMT, commercial banks quoted the shilling at 3,690/3,700, the same
level as Friday's close. 

America

Dollar Slips Against Yen as Markets Eye Syria

Investing.com - The dollar slipped lower against the yen on Monday as
markets assessed the fallout from U.S.-led missile strikes on Syria on
Friday, but losses were limited amid expectations that the conflict would
not escalate further.

USD/JPY was down 0.15% to 107.23 by 03:31 AM ET (07:31 AM GMT), after rising
briefly to an overnight high of 107.60.

The safe haven yen is often sought in times of market turmoil and political
tensions.

The dollar’s losses against the Japanese currency were held in check by
relief that the missile strikes on Syria did not prompt a response from
Russia, Syria’s main ally, but markets remained on the lookout for any signs
of escalation of the conflict.

The U.S. dollar index, which measures the greenback’s strength against a
basket of six major currencies, edged down to 89.47 after ending last week
down 0.31%.

The euro edged higher, with EUR/USD last at 1.2335 after ending little
changed for the day on Friday.

The pound was steady, with GBP/USD trading at 1.4246 after rising to
ten-week highs on Friday amid expectations for a rate hike by the Bank of
England as soon as next month.

The ris

Commodities Markets

U.S. stocks rise as oil, bond prices fall on ebbing Syria fears

(Reuters) - Wall Street rose while oil and government bond prices fell on
Monday on the view that this weekend’s U.S.-led missile strikes on Syria
were unlikely to mark the start of a broader conflict.

Saturday’s strikes marked the biggest intervention by Western countries
against Syrian President Bashar al-Assad and his ally Russia, which is
facing further economic sanctions over its role in the conflict.

The Dow Jones Industrial Average rose 190.35 points, or 0.78 percent, to
24,550.49, the S&P 500 gained 16.89 points, or 0.64 percent, to 2,673.19 and
the Nasdaq Composite added 29.31 points, or 0.41 percent, to 7,135.96.

Healthcare shares also rose after positive updates on a cancer drug from
Merck.

Hopes that the strike against Syria would not escalate further also spurred
investors to shed the U.S. dollar.

The dollar index fell 0.3 percent, with the euro up 0.28 percent to $1.2364.

European shares eased, however, adding to a mixed picture from Asian stock
markets and suggesting that a degree of caution prevails.

The pan-European FTSEurofirst 300 index lost 0.41 percent. MSCI’s broadest
index of Asia-Pacific shares outside Japan closed 0.5 percent lower, as
Chinese blue-chips skidded 1.6 percent.

MSCI’s gauge of stocks across the globe, which tracks shares in 47
countries, gained 0.30 percent.

European and U.S. government bond yields, which move inversely to prices,
rose across the board. That was partly as attention turned to what is
expected to be a robust first-quarter U.S. corporate earnings season, which
begins in earnest this week.

The yields on German and U.S. government bonds, among the most liquid and
safe assets in the world, were at their highest levels in nearly two weeks
and four weeks, respectively.

Benchmark 10-year notes last fell 5/32 in price to yield 2.8469 percent,
from 2.828 percent late on Friday.

The 30-year bond last fell 7/32 in price to yield 3.0463 percent, from 3.036
percent.

Some other traditional safe-haven bets held firmer, with gold and Japan’s
yen edging higher.

Dealers were keeping a wary eye on Japanese politics after a survey showed
support for Prime Minister Shinzo Abe had fallen to 26.7 percent, the lowest
since he took office in late 2012.

Even so, Japan’s Nikkei rose 0.26 percent.

Oil prices, meanwhile, recouped some losses after falling sharply. Brent
crude was last at $71.78, down 1.1 percent on the day, with a rise in U.S.
drilling for new production also dragging on prices.

U.S. crude fell 1.34 percent to $66.49 per barrel.

For Reuters’ Live Markets blog on European and UK stock markets, open a news
window on Reuters Eikon by pressing F9 and type in ‘Live Markets’ in the
search bar.

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
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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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