[Bullsn'Bears] Bulls n Bears Daily Market Commentary : 09 January 2018

Wed Jan 10 06:56:42 CAT 2018

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Bulls n Bears Daily Market Commentary : 09 January 2018

 <http://www.firstmutualproperties.co.zw/> 

Zimbabwe Stock Exchange Update

Market Turnover $3,924,929.42 with foreign buys at $3,083,317.84 and foreign
sales were $2,990,507.43 . Total trades were 70 .

The All Share Index rebounded 0.16 points  to close at 97.56 points. TSL
LIMITED was up by $0.0700 to close at $0.4400, CAFCA   added $0.0500 to
$0.3500 while OK ZIMBABWE   was $0.0046 higher at $0.1700. MEIKLES LIMITED
put on $0.0015 to end at $0.2985. 

INNSCOR shed $0.0100 to close at $0.9900,  ZIMRE PROPERTY INVESTMENTS lost
$0.0040 to close at $0.0200 and AFRICAN SUN  was down by $0.0030 to settle
at $0.0450. PADENGA   dropped $0.0015 to $0.5485 while DELTA  inched down
$0.0001 to close at $1.5525. 

 <mailto:info at bulls.co.zw> 

Global Currencies & Equity Markets

Uganda

Ugandan shilling stable, expected to weaken due to energy sector demand

KAMPALA, (Reuters) - The Ugandan shilling        wasstable on Tuesday, with
dollar demand from manufacturing and energy sector companies expected weaken
it, traders said. 

At 0922 GMT, commercial banks quoted the shilling at 3,653/3,663, the same
as Monday's close. 

Kenya

Kenyan shilling strengthens due to inflows from offshore investors

NAIROBI, (Reuters) - The Kenyan shilling strengthened against the dollar on
Tuesday due to inflows from portfolio investors buying government debt
meeting oil importer demand, traders said. 

At 0750 GMT, commercial banks quoted the shilling at 103.05/25 per dollar,
compared with 103.15/25 at Monday's close. 

Asia

Asian shares near decade highs, copper rallies to fresh 4-yr peak

(Reuters) - Asian shares marched towards a decade high on Thursday, on track
for their best annual performance since 2009 as investors bet on a bright
outlook for the global economy with copper at a four-year peak.

MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.8
percent to stay within sight of November’s high of 570.2 points, a level
unseen since late 2007.

It has risen about 33 percent in 2018 thanks to improving global growth as
exports boomed, sharply lifting corporate earnings. Much of the positive
impulse is expected to extend into 2018.

On the day, most Asian markets joined the year-end party with South Korea’s
KOSPI and China’s CSI 300 index both up about 1 percent, and Hong Kong’s
Hang Seng index adding 0.7 percent. Jakarta’s SE Composite Index advanced to
a record peak.

Japan’s Nikkei and Thailand’s SET Index were the only two Asian markets in
the red.

MSCI world equity index, which tracks shares in 47 countries, also held near
record highs. It has surged 21.5 percent this year.

Trade was light across the board with many market participants on holiday.

In the cryptocurrency arena, bitcoin’s woes persisted as it fell more than
10 percent to under $14,000. The losses came as South Korea said it will
impose additional measures to regulate speculation in cryptocurrency
trading.

The world’s biggest and best known digital currency has skyrocketed more
than 14 times on the Luxembourg-based Bitstamp Exchange this year. And, even
after a crushing blow from almost $20,000 it is still up about 39 percent in
December alone.

Elsewhere, currencies of commodity exporting countries got a boost from
stronger metal and oil prices.

Copper rose for a tenth straight session to a fresh four-year high.

Prices of the metal, considered a barometer for global growth and used
widely in power and construction, are up 31 percent in 2018.

Gold climbed to a one-month top while oil was not far from this week’s 2-1/2
year peak.

All that pushed the commodity-driven currencies of Australia , New Zealand
and Canada to multi-week highs.

The greenback slipped against the yen while the dollar index sagged to near
one-month lows as U.S. Treasury yields came off recent highs.

Treasury 2/10s yield curve slipped below 52 basis points, from almost 64
basis points last week.

The dollar index, which measures the greenback against other major
currencies, is seen ending more than 9 percent lower in 2018 as the
reflation trade seen at the start of the year faded.

For the year, the dollar is down more than 3 percent on the yen.

In commodities, spot gold rose 0.4 percent to $1,292.2 an ounce, a level
last seen in late November.

Brent crude, the international benchmark for oil prices, rose 16 cents to
$66.60 a barrel. U.S. crude added 15 cents to $59.79 after climbing to a
2-1/2 year high of $60.01 on Tuesday.

Commodities Markets

Tumbling stocks, deficits power zinc's rally to 2007 levels

(Reuters) - Zinc prices hit their highest in more than a decade on Tuesday
as investors anticipating another year of shortages and falling inventories
bought the metal used to galvanise steel.

Benchmark zinc traded down 0.2 percent at $3,380 a tonne in official rings
from an earlier $3,400, its highest since August 2007. Zinc gained more than
28 percent last year after climbing 60 percent in 2016.

DEFICITS: Societe Generale expects the zinc market deficit at 350,000 tonnes
last year and this year after a deficit of 200,000 in 2016. It sees world
refined metal production to rise to 14 million tonnes this year from 13.80
million in 2017.

DEMAND: China accounts for nearly half of global zinc demand. The country’s
war on smog cut local output of zinc last year and is expected to cut
supplies again this year.

IMPORTS: China’s zinc imports jumped to above 573,000 tonnes in the first 11
months of last year, up 43 percent from the same period of the previous
year.

STOCKS: Shortages have led to a drawdown of inventories in LME-approved
warehouses MZNSTX-TOTAL, which at 180,250 tonnes are down more than 30
percent since last October. Stocks in warehouses monitored by the Shanghai
Futures Exchange ZN-STX-SGH at 77,383 tonnes are down 60 percent since March
last year.

HOLDINGS: Worries about a tight LME market have been reinforced by two large
positions holding between 30 and 39 percent of zinc warrants and cash
contracts. <0#LME-WHL>

PREMIUM: Jitters about a shortfall on the LME market has since Dec. 27 seen
the cash contract trade at a premium over the three-month contract. The
premium traded at $19 a tonne at the close on Monday.

2017 RALLY: Copper, aluminium, lead and nickel all ended 2017 higher by
around 30 percent on expectations of market deficits and falling inventories
this year. Analysts expect another year of higher prices.

OTHER METALS: Copper was up 0.1 percent at $7,136, aluminium slid 0.6
percent to $2,161.5, lead fell 0.2 percent to $2,598, tin was flat at
$20,000 and nickel gained 0.3 percent to $12,565.

Growth of European gold-backed ETFs outpaces U.S. funds in 2017 -WGC

(Reuters) - European gold-backed exchange-traded funds added more than
double the amount of tonnes that North American ones did in 2017, growing
their assets by 13.9 percent, the World Gold Council said on Tuesday.

Though North America contained more than half the amount of global
exchange-traded fund holdings, European funds added the most to their
gold-backed ETFs last year. The additional 148.6 tonnes were valued at $5.8
billion.

European funds captured 75 percent of global inflows, led by German-listed
funds accounting for 35 percent of inflows, the council said.

North American funds grew assets under management by adding 62.9 tonnes in
2017, a 5.6 percent increase, the council said. Flows were valued at $2.9
billion.

Asian funds lost 12.9 tonnes valued at $404.8 million in 2017, a 13 percent
drop from the previous year, the data showed.

Global gold-backed exchange-traded funds added 197.5 tonnes in 2017, an 8.4
increase of assets under management. The flows were worth $8.2 billion.
Total global assets under management for gold-backed ETFs for 2017 were
valued at $98.1 billion.

For 2017, global net inflows spread across North America, Europe and Asia
totaled 221.3 tonnes worth $9.1 billion, the council said. Flows out of
global gold-backed ETFs totaled 23.8 tonnes worth $860.4 million.

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

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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