Bulls n Bears Daily Market Commentary : 17 September 2018

Tue Sep 18 06:47:29 CAT 2018

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Bulls n Bears Daily Market Commentary : 17 September 2018

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

Zimbabwe Stock Exchange Update

Market Turnover $1,097,026.68 with foreign buys at $390,337.34 and foreign
sales were $122,567.22. Total trades were 99.

The All Share index opened  the week in the red losing 1.42 points  to close
at 114.49 points. Beverage manufacturer DELTA  led the shakers with a
$0.0758 loss to $2.2034, INNSCOR   was $0.0500 weaker at $1.4000 and AFRICAN
SUN  decreased by $0.0078 to end at $0.0802. MASIMBA also went down by
$0.0057 to setlle at $0.0643 and FIRST MUTUAL LIMITED   traded lower at
$0.1600 after dropping $0.0050.  

Trading in the positive was OLD MUTUAL LIMITED  which recovered $0.2112 to
trade at $5.2112, CAFCA  was $0.0143 stronger at $0.7143 and POWERSPEED
gained $0.0112 to close at $0.1492. CBZ  traded higher at $0.1500 following
a $0.0022 increase whilst AMALGAMATED REGIONAL TRADING and FIDELITY LIFE
ASSURANCE  both added $0.0010 to close at $0.0621 and $0.1030 respectively.

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Global Currencies & Equity Markets

South Africa

South Africa's rand firms on dollar tariff slip, stocks down

(Reuters) - South Africa’s rand firmed on Monday, as a dollar rally fuelled
by signs of higher lending rates in the United States was undermined by the
latest salvo in a tit-for-tat trade battle between Beijing and Washington.

Stocks fell with other global equities as investors worried about goods that
could incur higher tariffs and the subsequent impact on earnings and growth.

At 1535 GMT the rand was 0.2 percent firmer at 14.8950 per dollar after a
close at 14.9250 last Friday, most of those gains coming late in the session
as New York traders sold dollars.

Rising bets that South Africa’s central bank will raise rates at its policy
meeting on Thursday, in line with emerging economies such as Turkey and
Argentina, have also lured back some yield-seeking investors.

Bonds took a hit, with the yield of benchmark government paper due in 2026
rising 7.5 basis points to 9.25 percent.

The blue chip top 40 index shed 0.48 percent to 50,197 points and the
broader all share index was 0.5 percent softer at 56,299 points.

Market heavyweight Naspers closed 0.68 percent higher at 3,206 rand ($215)
after announcing plans to spin off and separately list its pay-TV unit.
“They are getting rid of a business that for the most part has not been a
part of their core business for a long time,” said Ryan Woods, equities
trader at Independent Securities. ($1 = 14.8926 rand)

Uganda

Ugandan shilling weakens due to demand from manufacturing, energy companies

(Reuters) - The Ugandan shilling weakened on Monday, hurt by a spike in
dollar demand from commercial banks and manufacturing, energy and
telecommunications companies.

At 1138 GMT commercial banks quoted the shilling at 3,815/3,825, weaker than
Monday's close of 3,800/3,810.

       <mailto:info at bulls.co.zw> 

America

US stock futures, Asian shares slip as Trump puts new tariffs on China

(Reuters) - Asian shares fell and copper prices eased on Tuesday after
Washington announced new tariffs on Chinese imports, inflaming trade
tensions between the world’s two biggest economies.

U.S. stock futures took a knock as well, with E-Minis for S&P 500 and the
Dow Minis both down 0.2 percent.

U.S. President Donald Trump imposed 10 percent tariffs on about $200 billion
worth of Chinese imports, and warned of tariffs on more goods if China took
any retaliatory action.

Trump spared smart watches from Apple and Fitbit and other consumer products
such as bicycle helmets and baby car seats.

Chinese Vice Premier Liu He is set to convene a meeting in Beijing on
Tuesday morning to discuss the government’s response, Bloomberg News
reported, citing a person briefed on the matter.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.3
percent with Hong Kong’s Hang Seng index off 0.7 percent and Australian
stocks down 0.4 percent.

Chinese shares were largely unchanged while Japan’s Nikkei bucked the trend,
gaining more than 1.5 percent.

Some analysts said the market reaction was a bit muted because Tuesday’s
announcement was in line with expectations and was baked into the prices,
while others see the U.S. economy riding out the impact for now.

Investors were also bracing for Beijing’s response.

Against the yen, the greenback inched up 0.1 percent to 111.98.

The risk-sensitive Australian dollar shed as much as 0.5 percent on the
tariff news to near a recent 2-1/2 year low, then it changed direction and
was up 0.2 percent at $0.7194.

The euro gained a fraction to $1.1692.

The tariff announcement drove some investors to the safety of U.S.
Treasuries with 10-year yields coming off Monday’s four-month top of 3.0220
percent. They were last at 2.9940.

Oil prices fell on worries rising trade tensions could dent global crude
demand.

U.S. crude futures skidded 25 cents to $68.67 a barrel while international
benchmark Brent futures lost 42 cents to $77.63 per barrel.

Copper, considered a barometer of global growth, drifted lower for a third
session running. 

 <mailto:info at bulls.co.zw> 

Commodities Markets

Australian shares slip as trade war hits materials and energy stocks; NZ
flat

(Reuters) - Materials and energy stocks drove declines in Australian shares
on Tuesday as the escalating U.S.-China trade war put pressure on commodity
and oil prices.

The S&P/ASX 200 index declined 0.2 percent or 12.2 points to 6,172.8 by 0200
GMT. The benchmark rose 0.3 percent on Monday.

Materials, especially mining stocks, were under the cosh on Tuesday as
reports of new U.S. trade tariffs on China pushed industrial metals lower.

Benchmark copper on the London Metal Exchange fell 0.8 percent, driving the
metals and mining index 0.9 percent lower.

Dalian iron ore dipped 0.5 percent, pressuring global miner BHP which fell
0.8 percent and was the top drag on the benchmark.

A slide in prices hit gold miners. Newcrest Mining Ltd tumbled as much as
2.4 percent, its biggest intraday percentage fall since August 24, while St
Barbara Ltd fell 2.3 percent.

Energy stocks also fell as the Sino-U.S. trade war clouded the oil demand
outlook.

Origin Energy Ltd dropped 3.1 percent to a one-week low, while Woodside
Petroleum Ltd fell 1 percent.

Health care stocks also fell as investors took profits. Drugmaker CSL Ltd,
which has had a stellar year so far marked by multiple all-time highs and a
record annual profit, dipped 1.2 percent, while Cochlear Ltd weakened 1.3
percent to its lowest in more than a month.

Bucking the trend, financials stocks rose 0.4 percent, braking the
benchmark’s losses.

Index heavyweight Australia and New Zealand Banking Group Ltd firmed 0.8
percent, while top lender Commonwealth Bank of Australia rose 0.4 percent to
its highest since August 31.

Across the Tasman Sea, New Zealand shares traded unchanged as gains in
telecommunication services and industrials were offset by losses in consumer
staples.

The benchmark S&P/NZX 50 index rose 0.1 percent or percent or 5.67 points to
9,277.2.

Teleco Spark New Zealand Ltd gained 1.5 percent and was the top boost to the
benchmark, while Auckland International Airport Ltd firmed 1.2 percent to a
near two-week high.

Earlier in the day, the airport operator said it was considering an offer of
fixed rate bonds to New Zealand retail investors and institutional
investors.

But dairy operator A2 Milk Company Ltd dipped 1.8 percent and was the
biggest drag on the benchmark.

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

Hippo

AGM

Meikles

26/09/2018 12PM

Bindura

AGM

Chapman Golf Club, Eastlea

27/09/2018 9AM

CBZH

interim dividend of 0.5c per share record date

28/09/2018

Hippo

final dividend of 2c per share record date

28/09/2018

Star Africa

AGM

45 Douglas Road, Workington

28/09/2018 11AM

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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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