Bulls n Bears Daily Market Commentary : 20 November 2019

Wed Nov 20 21:57:10 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 : 20 November 2019

Zimbabwe Stock Exchange Update

Heavies weigh on the market

Three of the ZSE benchmark Indices sank further in midweek session as losses
in heavies dragged down the market. The All Share Index lost 0.78% to
242.93pts while, the Industrials went down 0.87% to close at 809.02pts. The
ZSE Top Ten Index closed at 221.53pts after letting go 1.21%.

Brickmakers Willdale dipped 20% and closed at $0.0240, followed by hotelier
African Sun which succumbed 10.93% to $0.4500. Telecoms giant Econet let go
3.56% to close at a vwap of $1.6914 while, crocodile skin producers Padenga
came off 2.93% to $2.9016. Retailer OKZim completed the top five fallers of
the day on a 1.87% retreat to $0.8612. ZHL topped the winners of the day
after surging 19.05% to close at $0.1000. 

The Mining Index put on 4.49% to end at 333.50pts buoyed by nickel miner
Bindura that jumped 13% to $0.1582. Afdis advanced 10% to $2.2000 while,
conglomerate Meikles ticked up 0.97% to settle at $2.0698. Wrapping the top
gainers’ pack was banking group FBC that rose 0.81% to $0.6200. Activity
aggregates faltered in the session with the volume total dropping 69.68% to
2.72m shares while, value outturn was down 39.81% to $4.43m. Top volume
drivers of the day were FMP and Cassava which claimed 22.58% and 13.65%
apiece. Heavies Delta, Old Mutual and Cassava were the top value drivers
with a combined contribution of 49.76%. Foreign purchases stood at $0.66m
while, sales were $0.17m to set a net funds inflow position for the day.-EFE
Securities

 <mailto:info at bulls.co.zw> 

  Global Currencies & Equity Markets

Uganda

Ugandan shilling unchanged as banks' and importer demand slackens

(Reuters) - The Ugandan shilling extended its stable trading on Wednesday,
drawing support from sluggish demand for hard currency from players in the
interbank market and typical large importers like fuel firms and
manufacturers.

At 0915 GMT commercial banks quoted the shilling at 3,685/3,695, unchanged
from Tuesday.

Kenya

Kenyan shilling extends gains against the dollar

(Reuters) - The Kenyan shilling gained against the dollar on Wednesday with
dollar supply from diaspora remittances and offshore investors buying stocks

exceeding dollar demand from merchandise importers, traders said.

At 0827 GMT, commercial banks quoted the shilling at 101.65/85 per dollar,
compared with 101.75/95 at Tuesday's close. 

       <mailto:info at bulls.co.zw> 

EMERGING MARKETS

Currencies on edge as hopes fade for U.S.-China trade truce

(Reuters) - Emerging-market currencies weakened in subdued trading on
Tuesday, amid growing doubts about a resolution to the U.S.-China trade war
that has slowed global growth and rankled financial markets this year.

Investor sentiment turned dour after a report that Beijing was pessimistic
about striking a trade deal with Washington. Declines were limited when the
United States extended by 90 days permission for U.S. companies to do
business with China’s Huawei Technologies Co Ltd.

An index of developing world currencies fell 0.2% after trading near flat in
the previous session.

Currencies in the developing world have weakened this month on conflicting
headlines about resolving the tariff dispute that has now gone on for a year
and a half.

Financial markets are now looking to major central banks for further hints
on monetary policy to stem a global slowdown. The minutes from the U.S.
Federal Reserve’s latest policy meeting are due on Wednesday, while ECB
chief Christine Lagarde delivers her first major speech on Friday.

The Hungarian forint was trading about flat to the euro ahead of the central
bank’s monthly policy meeting, which is expected to leave interest rates
unchanged and signal that the economy is not overheating.

The South African rand and Russian rouble gained against a weaker dollar
after easing in the previous session. The rouble is also typically supported
in the second half of every month by exporters buying the currency to meet
local duties.

Turkey’s lira gained 0.2%, while currencies in central and eastern European
economies including Poland, Czech Republic and Romania were trading in a
narrow range.

A basket of emerging-market stocks was up for the third straight session,
led by Chinese shares , which posted their best day in two weeks as a
surprise cut in a key lending rate on Monday bolstered hopes for more
government stimulus.

Hong Kong’s Hang Seng index closed up 1.6%, lifted by a report that Alibaba
had logged strong demand for its $13.4 billion secondary listing in the
Asian financial hub.

 <mailto:info at bulls.co.zw> 

Commodities Markets

Copper touches one-week high as China cuts rates

(Reuters) - Copper prices touched one-week highs on Wednesday after top
consumer China cut interest rates to shore up growth, and on hopes the
country’s trade dispute with the United States could move towards a
resolution.

Benchmark copper on the London Metal Exchange ended unchanged at $5,875 a
tonne. Prices of the metal used widely in power and construction earlier
touched $5,905.50, the highest level since Nov. 12.

CHINA RATE CUT: China lowered its lending benchmark rate on Wednesday, as
widely expected, to shore up an economy hurt by slowing demand and U.S.
trade tariffs.

The cut was the second to a key Chinese rate this week and came a day after
central bank governor Yi Gang said Beijing would step up credit support and
lower real lending rates, as pressure on the world’s second-largest economy
increases.

TRADE: A “phase one” trade deal between the United States and China was
supposed to be a limited agreement that would allow leaders from both
countries to claim an easy victory while soothing financial markets.

U.S. President Donald Trump issued a fresh threat against China on Tuesday,
saying Washington would raise tariffs on Chinese imports if no deal was
reached with Beijing to end the spat.

PROCESSING: Two leading Chinese copper smelters, Jiangxi Copper Co and Daye
Nonferrous Metals Group, need charges for processing copper concentrate into
metal to be higher than the current spot rate to avoid losing money.

CHARGES: Freeport McMoRan Inc expects treatment and refining charges for
copper concentrates in 2020 to be well below last year’s levels as Chinese
smelting capacity is expected to rise.

INDONESIA: Indonesian President Joko Widodo said on Wednesday the
government’s policy of processing natural resources at home would end the
country’s current account deficit problem within three years.

ALUMINIUM: Global primary aluminium output rose to 5.392 million tonnes in
October from a revised 5.222 million tonnes in September, data from the
International Aluminium Institute (IAI) showed on Wednesday.

PRICES: Aluminium was up 0.6% at $1,741; zinc was down 1.3% at $2,313; lead
fell 0.3% to $1,987; tin rose 0.3% to $16,030; and nickel slid 2.2% to
$14,360 a tonne. 

Trade commission finds Chinese aluminum wire, cable export harms U.S.
industry

(Reuters) - The U.S. International Trade Commission (ITC) on Wednesday said
it had determined that U.S. industry was materially injured by imports of
aluminum wire and cable from China, locking in U.S. antidumping and
countervailing duties.

The U.S. Commerce Department in October said it had determined that Chinese
exporters sold aluminum wire and cable at less than fair value in the United
States. Such imports from China amounted to $115 million in 2018, it said.

The ITC said it would release a public report on its investigation backing
the Commerce Department’s findings on Jan. 6.

INVESTORS DIARY 2019

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) 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> +263 719 441 674

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 

Whatsapp Group:   <https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO> Click
Here to Join

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20191120/02e7b792/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/20191120/02e7b792/attachment-0006.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 17697 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20191120/02e7b792/attachment-0007.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 29447 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20191120/02e7b792/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/20191120/02e7b792/attachment-0009.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 29478 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20191120/02e7b792/attachment-0010.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image006.jpg
Type: image/jpeg
Size: 3256 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20191120/02e7b792/attachment-0011.jpg>