[Bullsn'Bears] Bulls n Bears Daily Market Commentary : 10 January 2018

Wed Jan 10 16:27:28 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 : 10 January 2018

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

Zimbabwe Stock Exchange Update

Market Turnover $1,168,440.64 with foreign buys at $961,384.98 and foreign
sales were $149,356.94 . Total trades were 59 .

The All Share Index shed 0.62 points  to settle at 96.94 points. HIPPO
VALLEY  dropped $0.0600 to close at $1.7000, INNSCOR   eased $0.0400 to
$0.9500 while FIDELITY LIFE   lost $0.0215 to end at $0.0885. CBZ HOLDINGS
went down by $0.0205 to trade at $0.1000 and ECONET   was $0.0087 weaker at
$0.8913.

OLD MUTUAL   put on $0.0081 to close at $4.8081, DELTA  shifted up $0.0025
to $1.5550 while PADENGA  added $0.0015 to settle at $0.5500. MEIKLES  rose
by $0.0012 to end at $0.2997. 

 <mailto:info at bulls.co.zw> 

Global Currencies & Equity Markets

South Africa 

S.Africa's rand slumps to 2-week low after ANC says no discussions on early
Zuma exit

(Reuters) - South Africa’s rand weakened as much as 1.7 percent in midday
trade on Wednesday to its worst in nearly three weeks after the ruling
African National Congress said an early exit for President Jacob Zuma had
not been discussed at a party meeting.

Initially hit by softening demand for emerging market assets as global bond
yields picked up, the rand’s losses accelerated to a session-low 12.55
shortly after the ANC Secretary-General Ace Magashule told reporters Zuma’s
removal was not on the agenda of a meeting of the party’s top
decision-making body.

At 1100 GMT the rand was 1.4 percent weaker at 12.5075 per dollar, slightly
better than the slide to its weakest level since Dec. 26.

The rand has swung between 12.2275 and the upper 12.50s for the first two
weeks of the year, pushed and pulled by mostly rumour-fuelled bets of a Zuma
resignation before his term ends in 2019.

The rand has rallied since mid-December, supported by investors’ hopes that
the newly elected leader ANC head Cyril Ramaphosa would push through
business-friendly policies.

The rally has since stalled, with signs of higher rates in the United States
shifting some of the focus back to fundamentals, although analysts said a
decision on Zuma remained the main swing factor.

Bonds tracked the weaker currency, with yield on the benchmark paper due in
2026 up 4.5 basis points to 8.63 percent.

In equities, the benchmark Top-40 index slipped 0.11 percent to 53,126
points while the All-Share index declined 0.22 percent to 59,980 points.

Troubled South African group Steinhoff was on course for a three-day losing
streak, weakening 3.58 percent to 7.28 rand as the retailer scrambled to
plug short-term funding gap.

The retailer needs 200 million euro ($238 million) to meet obligations in
the next few days and avoid default by its smaller units, like Austrian
Kika-Leiner, pulling down the entire entity, sources close to the
negotiations told Reuters. 

Uganda

Ugandan shilling steady as importer and commercial bank dollar demand slows

(Reuters) - The Ugandan shilling was steady on Wednesday due to slowing
dollar demand from commercial banks and importers.  

At 0830 GMT commercial banks quoted the shilling at 3,655/3,665, same level
as Tuesday's close.

Jamaica

J$124.76 to one US dollar

KINGSTON, Jamaica — The US dollar on Tuesday, January 9, ended trading at
J$124.76 up by 21 cents according to the Bank of Jamaica's daily foreign
exchange trading summary.

Meanwhile, the Canadian dollar ended trading at J$100.21 up from J$98.01
while the British pound sterling ended trading at J$166.92 up from J$166.70.

Commodities Markets

Gold hits near 4-month high as dollar slides on China report

(Reuters) - Gold jumped to its highest in nearly four months on Wednesday as
a report that Chinese officials had recommended slowing or halting U.S.
Treasury purchases sparked a broad-based sell-off of the dollar, lifting
assets priced in the U.S. currency.

The dollar, already under pressure versus the yen after the Bank of Japan
moved to trim its long-dated government bond purchases earlier this week,
slid 0.6 percent versus a currency

basket, its biggest one-day drop in a month.       

Spot gold        was up 0.9 percent at $1,324.84 an ounce at 1211 GMT,
having earlier touched its highest since Sept. 15 at $1,326.56. U.S. gold
futures        for February delivery were

up $12.30 an ounce at $1,326.00.

The U.S. currency slumped on Wednesday after a report that China was
reconsidering its stance on U.S. treasury purchases, with the greenback
posting its biggest single-day drop against the Japanese yen in nearly eight
months.       

Officials reviewing China's foreign-exchange holdings have recommended
slowing or halting purchases of U.S. Treasuries, Bloomberg News reported,
citing people familiar with the matter.

Major government bond yields hit multi-month highs on Wednesday as investors
reevaluated the likelihood of continued easy-money policies by the world's
major central banks following

the BoJ move. The 10-year U.S. Treasury yield             hit 2.57 percent
for the first time since March.            

The dollar's slide helped gold shrug off the impact of rising global
Treasury yields, which increase the opportunity cost of holding non-interest
bearing bullion.

Among other metals, palladium        was down 0.2 percent at $1,098.22 an
ounce, after hitting a record high on Tuesday at $1,111.40. Tightening
emissions standards and a switch away from diesel cars to more
palladium-heavy gasoline models has shored up demand expectations for the
autocatalyst metal. 

Silver        was up 1.2 percent at $17.15 an ounce, while platinum
was 0.4 percent higher at $969.40 an ounce.

Copper up from 2-week low on weaker dollar, global growth forecast

(Reuters) - Copper prices rose on Wednesday from a two-week low, while other
industrial metals also gained after the World Bank forecast solid global
economic growth in 2018 and the dollar weakened, making metals cheaper for
holders of other currencies.

Meanwhile, investors shrugged off weak inflation data from China, the
world’s biggest consumer of metals.

COPPER: Benchmark copper on the London Metal Exchange was up 0.5 percent at
$7,136.50 a tonne at 1039 GMT after touching $7,086 on Tuesday, the lowest
since Dec. 22.

GLOBAL GROWTH: The global economy is set to expand by 3.1 percent in 2018,
slightly up from 3 percent last year and marking the first year since 2008
that it will near or achieve full growth potential, the World Bank said.

CHINA ECONOMY: Chinese producer prices rose at their slowest pace in 13
months in December as a battle against winter smog dented factory demand for
raw materials.

CHINA AUTO DEMAND: Automakers in China, the world’s largest car market, face
their weakest year of sales growth in at least two decades as tax cuts on
smaller engine cars are phased out, potentially reducing demand for metals.

DOLLAR: The dollar weakened for the first time in four sessions, potentially
boosting demand for metals by making them cheaper for non-U.S. investors.

ALUMINIUM: U.S. aluminium products makers sought new trade protections
against Chinese imports, accusing China Zhongwang Holdings Ltd and its
affiliates of evading U.S. anti-dumping and anti-subsidy duties by shipping
aluminium products through Vietnam.

ZINC: Benchmark zinc was up 0.2 percent at $3,341 a tonne after concerns
over supplies and falling inventories drove it on Tuesday to $3,400, its
highest in more than a decade.

ZINC STOCKS: On-warrant stocks available to the market at LME-registered
warehouses fell to 129,300 tonnes after by 9,950 tonnes of fresh
cancellations, supporting prices. On-warrant inventories are down 35,000
tonnes this month. MZNSTX-TOTAL

OTHER METALS: Aluminium was up 0.8 percent at $2,169 a tonne, nickel was 1
percent higher at $12,825, lead was up 1.2 percent at $2,576 and tin had
gained 0.1 percent to $19,970.

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.

(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/20180110/b3608591/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/20180110/b3608591/attachment-0006.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 131664 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180110/b3608591/attachment-0007.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 29401 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180110/b3608591/attachment-0008.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 37760 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180110/b3608591/attachment-0009.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 159128 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180110/b3608591/attachment-0010.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image006.jpg
Type: image/jpeg
Size: 4846 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20180110/b3608591/attachment-0011.jpg>