Bulls n Bears Daily Market Commentary : 09 March 2018

Fri Mar 9 16:46:07 CAT 2018

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Bulls n Bears Daily Market Commentary : 09 March 2018

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Zimbabwe Stock Exchange Update

Market Turnover $2,240,524.76 with foreign buys at $138,230.82 and foreign
sales were $168,000.00. Total trades were 60.

The All Share index closed the week at 86.25 points following a 0.15 points
loss. BRITISH AMERICAN TOBACCO led the losers with a $0.2500 decrease to
settle at $19.7500, HIPPO  came off $0.0207 to end at $1.6793 as PADENGA
dropped $0.0048 to $0.4150. ECONET shed $0.0027 to close at $0.6700,
MASHONALAND HOLDINGS eased $0.0009 to $0.0270 whilst FIRST MUTUAL HOLDINGS
was $0.0005 weaker at $0.1695.

Five counters gained ground including OLD MUTUAL which added $0.0100 to
close at $5.4200, INNSCOR  was up by $0.0050 to $0.9350 while PPC LIMITED
rose by $0.0018 to end at $0.9218. DAIRIBOARD put on $0.0005 to trade at
$0.1120 and CBZ HOLDINGS  inched up $0.0001 to end at 0.1035.

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Global Currencies & Equity Markets

Kenya

Kenya shilling inches up against the dollar

(Reuters) - The Kenyan shilling edged up against the dollar on Friday,
helped by low demand and conversions from horticulture earnings, traders
said. 

At 0829 GMT, commercial banks quoted the shilling at 101.05/25 per dollar,
compared with 101.20/40 at Thursday's close.  

Uganda

Ugandan shilling inches higher due to farm exports

(Reuters) - The Ugandan shilling        edged up on Friday, buoyed by
dollar inflows from exporters of coffee, cocoa and other commodities. 

At 1200 GMT, commercial banks quoted the shilling at 3,650/3,660, stronger
than Wednesday's close of 3,655/3,665. 

Markets were closed on Thursday for a holiday.

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

Multi-month lows breached after U.S. tariff move

(Reuters) - Metals hit multi-month lows on Friday on fears over escalating
trade tensions after the U.S. move to slap tariffs on steel and aluminium
imports into the world’s largest economy.

U.S. President Donald Trump’s move to impose a 25 percent import tariff on
steel and 10 percent on aluminium, with initial exemptions for Canada and
Mexico, is set to take effect within 15 days.

China said it “resolutely opposed” the tariffs and that they would
“seriously impact the normal order of international trade”, while the EU
said it will go to the World Trade Organization to impose its own measures
if hit by the tariffs.

International Monetary Fund Managing Director Christine Lagarde said she
feared a “tit-for-tat” escalation of trade retaliation that would sap
business confidence and investment.

* PRICES: Benchmark LME copper contracts were flat at $6,840 a tonne at 1212
GMT, having touched a one-month low, while aluminium was down 0.2 percent at
$2,102.50 after dropping to a 2-1/2 month low.

* ZINC: Zinc, used to galvanise steel, was hit hardest among base metals,
falling 0.7 percent to $3,207 after hitting a 2-1/2 month low.

* STEEL: The most traded steel rebar contract in Shanghai slumped by 3.7
percent to a 3-1/2 month closing low.

* NICKEL: Bucking the trend, stainless steel raw material nickel rose 0.8
percent to $13,380 after LME data showed a 13 percent slide in on-warrant
stocks to 201,240 tonnes.

* ALUMINIUM STOCKS: Deliverable aluminium stocks in Shanghai Futures
Exchange warehouses rose by 4,517 tonnes to a record 846,913 tonnes while
LME stocks fell by 3,775 tonnes to 1,311,725 tonnes.

* CHINA DATA: China’s exports unexpectedly rose at their fastest pace in
three years in February, suggesting that its economy and global growth
remain resilient even as trade relations with the United States deteriorate.

* WIDER MARKETS: Global shares hit a one-week high before easing slightly as
caution ahead of jobs data in the United States outweighed a potential
breakthrough in nuclear tensions over the Korean peninsula.

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.

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