Bulls n Bears Daily Market Commentary : 06 March 2019

Thu Mar 7 07:38:14 CAT 2019

 <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 : 06 March 2019

 <mailto:info at bulls.co.zw> 

Zimbabwe Stock Exchange Update

Market Turnover RTGS$674,685.55 with foreign buys at RTGS$146,918.90 and
foreign sales were RTGS$43,588.80. Total trades were 70.

The All Share index recovered 0.26 points  to close at 145.01 points. OLD
MUTUAL LIMITED continues its recovery path adding $0.5026 to close at
$7.5026, BRITISH AMERICAN TOBACCO   increased by $0.0481 to $33.0000 and
CASSAVA SMARTECH   gained $0.0360 to end at $1.4375. CBZ   traded $0.0195
stronger at $0.1595 and FIDELTY LIFE ASSURANCE  was $0.0100 up to settle at
$0.1100.

Gains were offset by losses in HIPPO VALLEY ESTATES  which lost $0.1300 to
$1.2500, ECONET  dropped $0.0228 to close at $1.3847 whilst DELTA  traded
$0.0123 weaker at $2.6875. AXIA  also decreased by $0.0101 to end at $0.4199
and AFRICAN SUN  traded $0.0100 lower at $0.1400.

 <mailto:info at bulls.co.zw> 

  Global Currencies & Equity Markets

South  Africa

South African rand weaker, stocks led up by Naspers

(Reuters) - South Africa’s rand weakened against the dollar on Wednesday,
weighed down by a souring growth outlook as the continent’s most advanced
economy continued to show signs of slowing down.

Stocks firmed, led higher by bourse heavyweight and e-commerce group
Naspers.

At 1515 GMT the rand was 0.28 percent weaker at 14.2100 per dollar from its
New York close of 14.1725 overnight.

The rand has fallen nearly 3 percent in the last week, weighed down by woes
at power utility Eskom and overall mixed fortunes for emerging currencies as
the greenback regained momentum and powered to near a two-week high.

The currency edged firmer after Tuesday’s GDP data showed the economy grew
0.8 percent in 2018, slightly higher than expected, but was back on the
ropes on Wednesday after business confidence slumped to a five-month low.

Reserve Bank governor Lesetja Kganyago said on Wednesday growth was set to
remain below 2 percent in 2019, while rising fuel and electricity prices
posed a risk to the inflation outlook.

Low inflation has boosted demand for Pretoria’s debt, with the 10-year paper
offering around a 3 basis point spread above U.S. Treasuries, shielding the
rand from even deeper losses.

The yield on the 2026 bond was 1 basis point higher at 8.69 percent at close
of play.

On the bourse, the Johannesburg all-share index rose 0.42 percent to 56,053
points, while the Top-40 index gained 0.58 percent to 49,875 points.

Naspers led the market higher, up 1.91 percent to 3,215.34 rand after gains
in Hong Kong technology giant Tencent , in which it has a 31 percent stake.

Shares in Africa’s largest pay-TV business MultiChoice were unbundled to
Naspers shareholders on Monday helping to further lift shares. MultiChoice
listed on the JSE last week.

Zambia

Zambia plans to swap Chinese debt from dollars to yuan - minister

(Reuters) - Zambia plans to swap its Chinese debt from dollars to yuan in a
bid to ease pressure on foreign reserves, Finance Minister Margaret
Mwanakatwe said on Wednesday.

Zambia’s total external debt at the end of 2018 was $9.7 billion, including
$3.1 billion owed to China.

Discussions with China on the planned debt swap were likely to be held in
late March, she added.

China was the largest importer of copper from Zambia, and the planned debt
swap could benefit both countries, the minister said.

Debt servicing costs are putting pressure on Zambia’s central bank reserves,
Bank of Zambia Governor Denny Kalyalya said during a monetary policy
committee briefing last month.

       <mailto:info at bulls.co.zw> 

Asia

China stocks rally on stimulus hopes, Aussie dlr hit by weak GDP data

(Reuters) - Asian stocks held their ground on Wednesday as Chinese equities
soared on stimulus hopes, although a resurgence in regional tensions capped
broader gains with North Korea opting to restore part of a missile test site
it had began dismantling earlier.

The Shanghai Composite Index was up 1 percent, hovering near a nine-month
high, as China’s state planner said the government will boost domestic
consumption further this year. Beijing announced billions of dollars in tax
cuts and infrastructure spending on Tuesday to reduce the risk of a sharper
economic slowdown.

Hong Kong’s Hang Seng added 0.2 percent and Australian stocks advanced 0.7
percent as mining stocks climbed on the prospect of increased Chinese
stimulus.

Some of region’s other equity markets, however, underperformed.

South Korea’s KOSPI was down 0.3 percent following news that North Korea had
restored part of a missile test site, with U.S. President Donald Trump’s
national security advisor John Bolton warning that new sanctions could be
introduced if Pyongyang did not scrap its nuclear weapons program.

Japan’s Nikkei lost 0.7 percent. MSCI’s broadest index of Asia-Pacific
shares outside Japan nudged up 0.1 percent.

Robust U.S. economic data supported the dollar, but its Australian
counterpart slid after data showed the economy slowed to a near standstill
in the fourth quarter.

The Australian economy expanded just 0.2 percent in the fourth quarter,
slower than the 0.3 percent increase economists had forecast in a Reuters
poll. The Aussie was down 0.66 percent at $0.7036 following a slip to a
two-month trough of $0.7029.

Wall Street dipped on Tuesday as a drop in General Electric shares countered
positive retailer earnings and investors eyed a key resistance level for the
benchmark S&P 500 after the market’s run to a five-month peak on Monday.

A report from the Institute for Supply Management showed U.S.
non-manufacturing sector companies in February placing the most new orders
since August 2005, an indicator of robust health.

Beijing revealed at the annual meeting of its parliament on Tuesday that it
is targeting economic growth of 6.0 to 6.5 percent in 2019, less than the
6.6 percent gross domestic product growth reported last year.

On the trade front, U.S. Secretary of State Mike Pompeo said on Monday he
thought the United States and China were “on the cusp” of a deal to end
their trade war. Pompeo added on Tuesday that “Things are in a good place,
but it’s got to be right.”

The dollar held gains after rising against its peers on Tuesday’s upbeat ISM
non-manufacturing sector report.

The dollar was a touch lower at 111.76 yen after going as high as 112.135
overnight, its strongest since Dec. 20.

The euro was little changed at $1.1299 following a decline of 0.3 percent
the previous day, when it plumbed a two-week trough of $1.1289.

U.S. crude oil futures were down 0.8 percent at $56.12 per barrel after data
from the American Petroleum Institute (API), an industry group, showed a
larger-than-expected increase in U.S. crude stockpiles.

Brent crude eased 0.7 percent to $65.39 per barrel.

 <mailto:info at bulls.co.zw> 

Commodities Markets

Gold steadies above 5-week lows as market rally pauses

(Reuters) - Gold prices steadied on Wednesday, after recovering from a more
than five-week low in the previous session, supported by a pause in global
equities’ rally, while a firmer dollar curbed gains.

Spot gold was steady at $1,286.75 per ounce, as of 0528 GMT, after slipping
to $1,280.70 in the previous session, its lowest since Jan. 25.

U.S. gold futures were up about 0.3 percent at $1,287.90 per ounce.

Asian stocks held their ground on Wednesday as Chinese equities soared on
stimulus hopes, although a resurgence in regional tensions capped broader
gains.

The dollar index held near a two-week high hit in the previous session.

Markets were a bit cautious over the Sino-U.S. trade dispute and are
awaiting developments in talks between the two major economies after a
tit-for-tat tariff war, analysts said.

U.S. Secretary of State Mike Pompeo said President Donald Trump will reject
any trade deal that is not perfect but that they will still keep working on
an agreement rekindling concerns in the market.

While a series of robust data from the United States has strengthened the
dollar, the Federal Reserve’s patience on policy is nowhere close to running
out.

Markets will now look ahead to the European Central Bank’s monetary policy
meeting on Thursday and U.S. non-farm payrolls data on Friday.

On the technical front, gold is expected to hover above a support at $1,283
per ounce, as it seems to be stabilising around this level, according to
Reuters analyst Wang Tao.

However, gold continues to see downwards pressure from outflows in exchange
traded funds and a firmer dollar, MKS PAMP Group said in a note.

Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded
fund, dropped 2.7 percent so far this year.

Among the other precious metals, palladium slipped 0.4 percent to $1,509.40
per ounce.

Spot silver lost 0.3 percent to $15.08 per ounce, after slipping to its
lowest since Dec. 27 in the previous session, while platinum dipped 0.8
percent to $830.65 per ounce.

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

Zimbabwe 

Independence Day

Zimbabwe

18 Apr 2019 

Good Friday

19 Apr 2019

Easter Saturday

20 Apr 2019

Easter Sunday

21 Apr 2019

Easter Monday

22 Apr 2019

Workers Day

01 May  2019

Africa Day

25 May 2019

 <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) 2019 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/20190307/6ab606ec/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/20190307/6ab606ec/attachment-0004.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 159128 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20190307/6ab606ec/attachment-0005.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/20190307/6ab606ec/attachment-0006.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 4846 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20190307/6ab606ec/attachment-0007.jpg>