Bulls n Bears Daily Market Commentary : 19 October 2018

Fri Oct 19 19:51:40 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 : 19 October 2018

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

Zimbabwe Stock Exchange Update

Market Turnover$3,515,121.67 with foreign buys at $602,374.12 and foreign
sales were $1,625,575.18. Total trades were 146.

The All Share index closed the week on a higher note adding 2.37 points  to
close at 180.93 points. HIPPO VALLEY ESTATES  led the movers with a $0.4000
gain to close at $2.8000, SEEDCO INTERNATIONAL  incresead by $0.1750 to
trade at $1.0500 and PADENGA traded $0.1425 higher at $0.8625. PROPLASTICS
also went up by $0.0290 to $0.1740 and NMB  was $0.0270 firmer at $0.2000.

Trading in the negative was DELTA  which dropped $0.0118 to $3.5500, EDGARS
lost $0.0055 to close at $0.1595 and BINDURA  was $0.0050 down at $0.0081.
SEEDCO also dropped by $0.0005 to end at $2.5500

 <mailto:info at bulls.co.zw> 

  Global Currencies & Equity Markets

Uganda

Uganda shilling unchanged; dollar demand slow

(Reuters) - The Uganda shilling        was  stable on Friday in quiet trade,
with traders looking to square positions as they prepared to close the week.

At 1029 GMT, commercial banks quoted the shilling at 3,755/3765, unchanged
from Thursday's close. 

Kenya

Kenyan shilling steady, remittances match importer dollar demand

(Reuters) - The Kenyan shilling was stable against the dollar on Friday and
was expected to trade in a narrow range due to demand from merchant
importers matching supply from  iaspora remittances, traders said.

At 0948 GMT, commercial banks quoted the shilling at  100.90/101.00 per
dollar compared with 100.95/101.05 atThursday's close.

       <mailto:info at bulls.co.zw> 

America

Stocks bounce back despite Italy angst; dollar dips

(Reuters) - Stocks rose across the world on Friday with a global index
aiming to avoid a fourth consecutive weekly loss, but concerns over Italy’s
budget weighed on its stocks and bonds.

The benchmark Italian bond yield rose to 4-1/2 year highs and the euro
touched a 10-day low before rebounding as the European Union called Rome’s
draft budget an “unprecedented” breach of EU fiscal rules.

The selling of Italian assets subsided after European Economics Commissioner
Pierre Moscovici said he wanted to reduce tensions with Italy over its 2019
budget.

The closely watched Italian/German bond yield spread touched a 5-1/2 year
high of 338 basis points.

But stocks in China and the United States rose a day after posting sharp
losses, putting a global stock index on track to post its first positive
week in four.

Strong earnings boosted shares on Wall Street as traders set aside concerns
over growth in China and Europe, as well as political tension between the
West and Saudi Arabia, the world’s largest oil exporter.

Fallout from the disappearance of Saudi journalist Jamal Khashoggi, last
seen entering the Saudi consulate in Istanbul early this month, has
compelled King Salman to intervene despite having given his son, Crown
Prince Mohammed bin Salman, vast powers.

In late-morning trade, the Dow Jones Industrial Average rose 181.21 points,
or 0.71 percent, to 25,560.66, the S&P 500 gained 21.83 points, or 0.79
percent, to 2,790.61 and the Nasdaq Composite added 63.43 points, or 0.85
percent, to 7,548.57.

The pan-European STOXX 600 index rose 0.15 percent and MSCI’s gauge of
stocks across the globe shed 1.21 percent.

Italy’s benchmark 10-year bond yield rose as high as 3.783 percent in early
trade on Friday, the highest since February 2014. It last traded at 3.563
percent.

Italian stocks were last trading flat on the day, while its bank stocks were
last down -0.6 percent.

Italy is the third-largest economy in the 19-country euro zone, and a crisis
there could unsettle the entire bloc.

Emerging market stocks lost 1.30 percent. MSCI’s broadest index of
Asia-Pacific shares outside Japan closed 0.68 percent lower.

In currencies, the British pound rose after EU negotiator Michel Barnier
said a Brexit deal with the United Kingdom was 90 percent done although
hurdles remained.

Sterling was last trading at $1.3039, up 0.17 percent on the day.

The euro recovered from one-week lows against the U.S. dollar as investors
took profits on bets against the bloc’s currency.

The dollar index fell 0.12 percent, with the euro up 0.38 percent to
$1.1496.

He said traders are “taking profit on a short that’s worked for them.”

The Japanese yen weakened 0.29 percent versus the greenback at 112.56 per
dollar.

Oil prices rose on signs of surging demand in China, but the market remained
concerned over rising U.S. inventories and trade wars that could curb
economic activity.

U.S. crude was up 87 cents, or 1.3 percent, at $69.52 per barrel and Brent
was last at $80.15, up 86 cents, or 1.1 percent, on the day.

U.S. Treasury yields rose as stocks rose on Wall Street.

Benchmark 10-year notes last fell 7/32 in price to yield 3.1996 percent,
from 3.175 percent late on Thursday.

 <mailto:info at bulls.co.zw> 

Commodities Markets

Copper, nickel rise as China pledges support for illiquid firms

(Reuters) - Copper rose on Friday and nickel prices rebounded from a
one-month low after regulators in China pledged support for firms with
liquidity issues brought on by months of slowing growth.

Both metals were still on track for weekly declines however, under pressure
from a firmer dollar and the negative effects of a lingering trade dispute
between the United States and China.

China is the world’s top consumer of metals.

The benchmark copper contract on the London Metal Exchange (LME) was bid up
0.5 percent to $6,190 per tonne after failing to trade in official rings. It
was still on track for a near 2-percent weekly decline.

LME nickel was bid up 1.6 percent to $12,550 after slumping to its lowest
since Sept. 18 on Thursday.

CHINA STEEL: Production cuts ordered for this winter by China’s top
steelmaking city Tangshan look less restrictive than last year, analysts
said, potentially keeping output high even as the city seeks to fight
pollution by cutting smokestack smog.

CHINA ECONOMY: China’s economic growth in the third quarter slowed to its
weakest pace since the global financial crisis, and missed expectations, as
a years-long campaign to tackle debt risks and the trade war with the United
States began to bite.

TARIFFS: Disputes over U.S. tariffs and retaliatory moves by other countries
have sparked 12 requests for adjudication at the World Trade Organization,
signalling an escalation in global trade tensions.

ALUMINIUM OUTPUT: China’s primary aluminium production fell for a second
straight month in September, sliding to its lowest level since May as weaker
aluminium prices and higher input costs led smelters to cut back output.

STOCKS: LME nickel stocks have slumped 43 percent since this time last year
to about 220,000 tonnes. In warehouses monitored by the Shanghai Futures
Exchange, zinc stocks jumped 23.3 percent to 53,479 tonnes from a week ago
while copper stocks rose 12 percent to 140,789 tonnes.

CHINA STEEL: China’s daily steel output hit a record high of 2.7 million
tonnes in September, as mills in the world’s top producer cashed in on
strong profit margins before the start of winter production curbs aimed at
tackling smog.

PRICES: Aluminium rose 0.5 percent to $2,023 per tonne, zinc was bid down
1.1 percent to $2,653, lead fell 0.5 percent to $1,991.50 and tin gained 0.4
percent to $19,105.

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

 <mailto:info at bulls.co.zw> 

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/20181019/a989c470/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/20181019/a989c470/attachment-0006.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 31067 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20181019/a989c470/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/20181019/a989c470/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/20181019/a989c470/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/20181019/a989c470/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/20181019/a989c470/attachment-0011.jpg>