Bulls n Bears Daily Market Commentary : 14 March 2018

Wed Mar 14 17:33:54 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 : 14 March 2018

 <mailto:info at bulls.co.zw> 

Zimbabwe Stock Exchange Update

Market Turnover $1,135,794.54 with foreign buys at $370,218.19 and foreign
sales were $467,724.38. Total trades were 68.

The All Share index retreated 0.28 points to close at 86.22 points. SIMBISA
shed $0.0590 to trade at $0.3300,  BRITISH AMERICAN TOBACCO was down by
$0.0243 to $19.9757 while DELTA lost $0.0023 to end at $1.5602. HIPPO
inched down by $0.0002 to close at $1.6798.

However, PPC put on $0.0276 to close at $0.9494, MEIKLES added $0.0173 to
$0.2973 whilst OLD MUTUAL was $0.0061 stronger at $5.4261. BINDURA gained
$0.0025 to settle at $0.0300 and DAIRIBOARD was $0.0010 firmer at $0.1130.

 <mailto:info at bulls.co.zw> 

Global Currencies & Equity Markets

Kenya

Kenyan shilling steady, forecast to gain due to remittances

(Reuters) - Kenya's shilling was stable against the dollar on Wednesday and
traders said it was expected to gain ground in the coming days, helped by
remittances.

At 0924 GMT, commercial banks quoted the shilling at 101.25/35 to the
dollar, the same as Tuesday's close. 

Uganda

Ugandan shilling weakens as demand from energy, manufacturing weighs

(Reuters) - The Ugandan shilling weakened on Wednesday, undermined by a pick
up in dollar demand from the manufacturing and energy sectors.

At 0957 GMT commercial banks quoted the shilling at 3,655/3,665, weaker than
Tuesday’s close of 3,645/3,655.

America

Dollar Pushes Higher but Soft Inflation, Tillerson Firing Weigh

Investing.com - The dollar pushed higher against the other major currencies
on Wednesday, but gains were checked by tepid inflation data and concerns
over political instability in the wake of the sudden firing of U.S.
Secretary of State Rex Tillerson.

The U.S. dollar index, which measures the greenback’s strength against a
basket of six major currencies, edged up to 89.77 by 04:40 AM ET (08:40 AM
GMT).

The index ended the previous session lower after the Labor Department
reported Tuesday that U.S. consumer price inflation remained muted in
February, indicating that the Federal Reserve is likely to stick to a
gradual pace of rate hikes this year.

The inflation data came after last week jobs report showed tepid wage
growth, easing concerns over a faster than expected pickup in inflation.

Some investors had speculated a strong inflation reading could prompt the
Fed to increase its planned pace of interest rate increases above the three
projected at the banks’ December meeting.

The Fed is to hold a two-day policy meeting starting next Tuesday and is
widely expected to hike rates for the first time this year.

The dollar came under additional selling pressure after U.S. President
Donald Trump fired Secretary of State Rex Tillerson on Twitter on Tuesday,
replacing him with Central Intelligence Agency Director Mike Pompeo.

The news undermined investor confidence in the U.S. currency.

The dollar gained ground against the euro, with EUR/USD sliding 0.10% to
1.2378.

The dollar was fractionally higher against the yen, with USD/JPY edging up
to 106.66.

The yen had come under pressure since the start of the week amid a growing
cronyism scandal linked to the Japanese Prime Minister Shinzo Abe and his
wife involving the sale of public land.

The scandal raised concerns over Abe’s ability to continue pursuing his
Abenomics policies, which include aggressive monetary easing.

The pound was a touch lower, with GBP/USD dipping 0.09% to 1.3950.

Commodities Markets

Mounting LME inventories undermine zinc prices

(Reuters) - Zinc prices slipped on Wednesday as inventories in London Metal
Exchange-approved warehouses climbed, but support came from expectations of
stronger demand in top consumer China.

Benchmark zinc on the London Metal Exchange did not trade in official rings
but was bid down 0.3 percent at $3,277 a tonne. Prices of the metal used to
galvanise steel are down more than 8 percent since hitting $3,595.50 on Feb.
15, their highest level since July 2007.

STOCKS: Stocks of zinc in LME warehouses have jumped nearly 60 percent since
March 3 to 207,775 tonnes. Cancelled warrants - material earmarked for
delivery and so not available to the market - account for about 8 percent of
stocks, down from nearly 50 percent at the start of March. MZNSTX-TOTAL

CHINA: The country accounts for about half of global zinc demand, estimated
at 14.4 million tonnes.

SPREAD: Greater availability of zinc on the LME market has seen the premium
for the cash contract over the three-month forward - above $55 a tonne at
the end of January - slide into a discount around $3.5 a tonne. MZN0-3

MINERS: “Higher zinc prices have helped miners’ profit margins, and this
should work as an incentive to miners to speed up their pipeline of projects
or restart idled operations,” GFMS analysts said in a note.

CONCENTRATE: Traders are watching treatment charges for zinc concentrate.
Sliding treatment charges suggest less availability of concentrate, while a
rising number would mean surpluses.

NICKEL: The stainless steel ingredient was bid 0.7 percent higher at $13,970
a tonne in official rings. It earlier hit a two-week high at $14,030.

NICKEL STOCKS: Concern about shortages on the LME market have been fanned by
a 10 percent fall in stocks since Jan. 10 to 325,434 tonnes and cancelled
warrants rising to 39 percent from 30 percent. MNISTX-TOTAL

OVERALL: Strong industrial output data from China, suggesting the economy
may be picking up momentum, helped boost prices of industrial metals.

PRICES: Copper traded up 1.5 percent at $7,050 a tonne, aluminium was bid
0.6 percent higher at $2,115, lead traded up 2.4 percent at $2,447 and tin
traded 0.3 percent lower at $21,100.

Gold edges lower on political drama and firm dollar

(Reuters) - Gold prices edged lower on Wednesday, pressured by a recovering
dollar but supported by safe-haven buying after the sudden dismissal of U.S.
Secretary of State Rex Tillerson. 

The U.S. dollar inched higher against major currencies after slipping
following the dismissal of Tillerson.               

A stronger dollar makes commodities priced in the greenback more expensive
for holders of other currencies. 

Spot gold        was down 0.2 percent at $1,323.31 an ounce  at 1301 GMT. It
earlier touched $1,330.02, its highest since March 7.

U.S. gold futures         for April delivery were 0.2 percent lower at
$1,324.20 an ounce.

Technical Fibonacci support for gold was at $1,317.20 an ounce with
resistance at $1,336.30, said analysts at ScotiaMocatta in a note. 

Gold is seen as a safe haven during times of political and financial
uncertainty and benefited on Tuesday when President Donald Trump fired
Tillerson after a series of public rifts over

policy, replacing him with loyalist CIA Director Mike Pompeo.

Investors have switched to become more risk averse following the unexpected
news of Tillerson's dismissal and the appointment of Pompeo, said OCBC
analyst Barnabas Gan.

Meanwhile, data on Tuesday showed U.S. consumer prices cooled in February
amid a decline in gasoline prices and a moderation in the cost of rental
accommodation, the latest

indication that an anticipated pick-up in inflation probably will be
gradual.             

Inflation is a key economic factor the U.S. central bank considers when
deciding monetary policy. A strong U.S. inflation reading could raise
expectations for future interest rate

increases, which would put pressure on non-yielding bullion.

In other precious metals, silver        rose 0.1 percent to $16.55 an ounce.

Platinum        was up 0.7 percent at $968.30 an ounce after touching a
one-week high and palladium        moved 1.1 percent higher to $1,001.60 an
ounce having reached a near two-week high earlier in the session. 

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

CBZ

finals and analysts briefing

Stewart Rooms, Meikles

15/03/2018 3pm

Econet

3 2017 dividend of 0.9379c per share record date

16/03/2018 

NicozDiamond

finals and analysts briefing

7th Floor Auditorium, Insurance Centre, 30 Samora Machel Avenue

20/03/2018 12pm

Old Mutual Zim

analysts briefing

Stewart Room, Meikles

20/03/2018 2pm

Simbisa

EGM

Royal Harare Golf Club

21/03/2018 9am

Zimplow

final dividend 0.13c per share record

23/03/2018 

TSL

AGM

28 Simon Mazorodze Road, Southerton

27/03/2018 12pm

Willdale

AGM

19.5km peg, Lomagundi Road, Mount Hampden

29/03/2018 11am

Good Friday

30/03/2018 

Easter Monday

02/04/2018

Zimbabwe

Independence Day

Zimbabwe

18/04/2018

Workers’ Day

01/05/2018

Africa Day

25/05/2018

Zimbabwe

Heroes’ Day

Zimbabwe

13/08/2018

Zimbabwe

Defence Forces Day

Zimbabwe

14/08/2018

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.

(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/20180314/7d0d48c8/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/20180314/7d0d48c8/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/20180314/7d0d48c8/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/20180314/7d0d48c8/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/20180314/7d0d48c8/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/20180314/7d0d48c8/attachment-0009.jpg>