Bulls n Bears Daily Market Commentary : 07 March 2018

Wed Mar 7 16:32:23 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 : 07 March 2018

 <mailto:info at bulls.co.zw> 

Zimbabwe Stock Exchange Update

Market Turnover $822,996.89 with foreign buys at $166,946.68 and foreign
sales were $336,816.44. Total trades were 44.

The All Share index shed 0.06 points  to close at 86.64 points. AFDIS  eased
$0.0300 to end at $1.4500, LAFARGE  slipped by $0.0200 to close at $1.3600
whilst WILLDALE   went down by $0.0010 to trade at $0.0050.

However,  CAFCA  jumped up $0.0500 to $0.4000, OLD MUTUAL (OML.zw) gained
$0.0143 to settle at $5.4196 whilst CBZ was $0.0005 higher $0.1034.

 <mailto:info at bulls.co.zw> 

Global Currencies & Equity Markets

Uganda

Ugandan shilling under pressure from higher demand for dollars

(Reuters) - The Ugandan shilling weakened on Tuesday on the back of higher
demand for hard currency from commercial banks and importers across various
sectors. 

At 0925 GMT, commercial banks quoted the shilling at 3,652/3,662, down from
Tuesday's close of 3,645/3,655. 

Kenya

Kenyan shilling stable amid slow trade

(Reuters) - The Kenyan shilling was stable against the dollar on Wednesday
due to slow market activity, traders said.

At 0727 GMT, commercial banks quoted the shilling at 101.20/40 per dollar,
the same as Tuesday's close.

Trade war spectre spooks emerging stocks, FX

(Reuters) - Fears over a looming trade war following the departure of a key
White House adviser spooked emerging markets on Wednesday with stocks and
currencies suffering, while investors in Turkey and Poland awaited interest
rate decisions.

Gary Cohn, U.S. President Donald Trump’s top adviser who was seen as a
bulwark against protectionist forces within the administration, said on
Tuesday he was leaving in a move that came after he lost a fight over
Trump’s plans for hefty steel and aluminium import tariffs.

His resignation sent global stocks slumping on Wednesday with MSCI’s
emerging market benchmark falling 0.5 percent. The falls were widespread,
with bourses across Russia and South Africa tumbling around 1.7 percent
while China’s indexes chalked up losses of as much as 1 percent.

With commodity and oil prices slipping lower, the tumbling dollar failed to
lift emerging currencies.

Mexico’s peso, a lightening rod for market anxiety around U.S. trade
relations, chalked up its steepest daily decline in 10 days, weakening 0.7
percent.

Copper producer South Africa saw the rand slip 0.9 percent, as falling FX
reserves and business confidence added some extra pressure. Russia’s rouble
and Korea’s won slipped 0.4 percent while Turkey’s lira was not far behind.

However, the declines came after many emerging market currencies had broadly
rallied in recent months thanks to a solid macroeconomic backdrop. While the
fundamental story for emerging market economies was intact, some headwinds
lay ahead, Luis Organes at J.P. Morgan wrote in a note to clients.

Turkey was also in focus with investors awaiting the central bank’s decision
on interest rates. In a Reuters poll, the bank was forecast to keep key
rates steady despite inflation pressures.

Meanwhile Poland’s central bank was also expected to keep rates on hold at
an all time low on Wednesday, with a hike expected in the first quarter of
2019.

Earlier in the day, Malaysia’s central bank left its key interest rate
unchanged after hiking it for the first time in over three years in January,
as easing inflationary pressures and solid growth gave it room to hold off
further tightening for now.

Commodities Markets

Aluminium slips on rising expectations of U.S. tax on imports

(Reuters) - Aluminium prices slid on Wednesday as the prospect of U.S.
tariffs were bolstered by the resignation of Gary Cohn, a key advocate for
free trade in the White House, while base metals generally came under
pressure from worries about a trade war.

Benchmark aluminium prices on the London Metal Exchange were down 0.9
percent at $2,127 a tonne, towards the lows seen last week after U.S. plans
for a 10 percent levy on aluminium were announced.

“Nobody should be surprised by the idea of taxes on metal imports in the
United States,” said SP Angel analyst John Meyer.

Europe has drawn up a list of U.S. products from bourbon to Harley Davidson
motorbikes on which to apply tariffs if U.S. President Donald Trump follows
through on a plan to impose global duties on aluminium and steel, EU sources
said.

Canada will also retaliate against any U.S. tariffs on steel and aluminium
products, officials there say.

COHN: The top economic adviser to U.S. President Donald Trump said on
Tuesday he would resign, a move that comes after he lost a fight over plans
for import tariffs.

OPPOSITION: “Apart from a few U.S. steel mills and a number of U.S.
domiciled aluminum smelters, most other companies, trade and industry
associations, as well as most of Congress, are all vehemently opposed,” said
INTL FCStone analyst Edward Meir.

EXCESS: Expectations of growing surpluses of aluminium has reinforced the
trend of falling discounts for the cash contract over the three-month
forward, at around two-month lows of $18 a tonne from a premium near $50 a
tonne on Feb 19.

STOCKS: Rising stocks of aluminium in LME approved warehouses, up at 1.32
million tonnes from around 1.06 million tonnes a month ago, are also
weighing on prices.

SHANGHAI: Aluminium stocks in warehouses monitored by the Shanghai Futures
Exchange are at record highs above 842,000 tonnes.

TECHNICALS: Price support is around $2,120 near last week’s low and strong
resistance comes in around $2,150, near the 100-day moving average.

COPPER: Prices of copper were down 1.2 percent at $6,918 a tonne as the
market looked ahead to key data from top consumer China, accounting for
nearly half of global demand estimated at around 24 million tonnes this
year.

CHINA: A raft of Chinese economic data over the next couple of weeks is
expected to show growth was mostly stable at the start of the year as
exports picked up and factory activity remained largely resilient.

PRICES: Zinc was down 0.7 percent at $3,280, lead fell 0.9 percent to
$2,417, tin slipped 0.4 percent to $21,355 and nickel lost two percent to
$13,415 a tonne.

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

Simbisa Brands Limited

EGM

SAZ Building Northend Close, Northridge Park, Borrowdale

09 Mar 2018 8:15am

CFI

AGM

Farm & City Boardroom, 1st Floor, Farm & City Complex, 1 Wayne Street

12 Mar 2018 11am

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/20180307/359ccf05/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/20180307/359ccf05/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/20180307/359ccf05/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/20180307/359ccf05/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/20180307/359ccf05/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/20180307/359ccf05/attachment-0009.jpg>