Bulls n Bears Daily Market Commentary : 19 February 2018

Mon Feb 19 15:36:21 CAT 2018

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Bulls n Bears Daily Market Commentary : 19 February 2018

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Zimbabwe Stock Exchange Update

Market Turnover $1,209,170.65 with foreign buys at $760,546.47 and foreign
sales were $2,171.10. Total trades were 51.

The All Share index opened the week lower at 88.44 points after losing 0.42
points . SEEDCO led the losers with a $0.0500 loss to close at 1.9000, DELTA
shed $0.0127 to $1.6000 and AMALGAMATED REGIONAL TRADING eased $0.0110 to
$0.0450. NAMPAK was down by $0.0050 to trade at $0.1650, PROPLASTICS
slipped $0.0030 to $0.0720 whilst  ECONET came off $0.0023 to end at
$0.6900.

Only two counters gained ground as ZIMPLOW put on $0.0020 to close at
$0.0820 and OK ZIMBABWE was $0.0010 stronger at $0.1670.

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Global Currencies & Equity Markets

Uganda

Ugandan shilling steady, tax payments squeeze dollar demand

(Reuters) - The Uganda shilling        was steady on Monday, underpinned by
a slowdown in appetite for dollars after most firms used some of their
liquidity to meet mid-month tax payments. 

At 0933 GMT, commercial banks quoted the shilling at 3,630/3,640, same level
as Thursday's close. Markets in Uganda were closed on Friday for a holiday.

Kenya

Kenya shilling stable against the dollar

(Reuters) - The Kenyan shilling was stable against the dollar supported by
inflows from horticulture exports and easing interbank rates, traders said.

At 0843 GMT, commercial banks quoted the shilling at 101.25/45 per dollar,
the same as Friday's close.  

The weighted average interest rate on the overnight borrowing market rose to
5.0898 percent on Monday from 4.6497 on Friday.

America

Dollar edges higher after hitting three-year low

LONDON (Reuters) - The dollar enjoyed a small rebound on Monday as investors
bought back the greenback following its plunge to three-year lows.

The U.S. currency has been hurt by a variety of factors this year, including
concerns that Washington might pursue a weak dollar strategy and the
perceived erosion of its yield advantage as other countries start to scale
back easy monetary policy.

Confidence in the dollar has also been shaken by mounting worries over the
U.S. budget deficit, which is projected to balloon to $1 trillion in 2019
amid a government spending splurge and large corporate tax cuts.

The return of risk appetite last week after a big stock market fall in early
February had also been detrimental to the dollar, but on Monday the U.S.
currency found its feet as some investors bought the dollar after the recent
falls.

The dollar index .DXY was up 0.1 percent at 89.215, off a low of 88.253 hit
last week, which was the weakest level for the U.S. currency since December
2014.

Against the euro, the dollar rose 0.2 percent at $1.2399 EUR= with traders
pointing to crucial business surveys later this week that could give the
single currency some more direction.

Versus the yen the dollar gained 0.3 percent to 106.58 yen JPY= but remained
down 2.3 percent this month.

The U.S. currency’s outlook remains uncertain in the longer-term,
strategists said, particularly as other parts of the world where central
banks are tightening policy and economies are strong are looking more
attractive for investors.

Commodities Markets

Gold steady as dollar tries to regain footing

(Reuters) - Gold prices were mostly flat on Monday as the dollar clawed back
some recent losses and stocks rose, but U.S. inflation fears kept buyers in
the metal.

Spot gold        was flat at $1,347.31 an ounce at 1124 GMT.     

The metal rose 2.4 percent last week in its biggest weekly gain in more than
five months.                          

U.S. gold         slipped 0.4 percent to $1,350 per ounce.

The dollar index       , which measures the greenback against a basket of
currencies, was firm on Monday after shedding 1.4 percent last week.

Investors piled into gold last week on concerns that U.S. inflation could
heat up. 

In wider markets, world stocks extended their recovery on Monday while oil
inched higher.                 

The minutes of the U.S. Federal Reserve's last policy meeting, held amid the
equities tumble on Jan. 30-31, are due on Wednesday. Besides the outlook on
rates, markets will be keen to

see what the Fed made of the market gyrations.

A 37-page indictment filed by U.S. Special Counsel Robert Mueller charged 13
Russians and three Russian companies with meddling in the 2016 U.S.
presidential election. Russia

denounced the allegations.              

Gold is often used as a hedge against geopolitical uncertainty. 

Hedge funds and money managers cut their net long positions in COMEX gold in
the week to Feb. 13, U.S. Commodity Futures Trading Commission data showed
on Friday.             

Trading is expected to be slower than usual this week due Lunar New Year
celebrations in China. Monday is also a market holiday in the United States.

SPDR Gold Trust      , the world's largest gold-backed exchange-traded fund,
said its holdings rose 0.39 percent to 824.54 tonnes on Friday.          

Among other precious metals, silver        was steady at  $16.67 an ounce
after falling 1.2 percent in the previous session.

Platinum        was up 0.8 percent at $1,010 an ounce, after earlier
touching its highest in over three weeks at $1,013.50. 

Palladium        rose 0.2 percent to $1,045.99 an ounce after touching its
highest in about two weeks.

Kazakhstan's Jan copper, steel, zinc output rises y/y

(Reuters) - Kazakhstan's January refined copper output jumped 11.1 percent
year-on-year and crude steel output rose 2.9 percent, while refined zinc
production climbed 2.6 percent, Statistics Committee data showed on Monday.

London-listed copper miner KAZ Minerals and Glencore's Kazzinc account for a
large part of Kazakhstan's metals production.

ArcelorMittal owns the country's only major steel plant in Temirtau. 

The Statistics Committee provided the following data on Kazakhstan's
non-ferrous, steel and precious metals output in its latest monthly
bulletin:

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

  Public Holiday

Public Holiday

Robert Mugabe National Youth Day

21 Feb 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.

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