Bulls n Bears Daily Market Commentary : 09 October 2019

Thu Oct 10 03:44:59 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 : 09 October 2019

 <mailto:info at bulls.co.zw> 

Zimbabwe Stock Exchange Update

Market Turnover ZWL$8,658,600.01 with foreign buys at ZWL$ 1,348,054.00 and
foreign sales were ZWL$ 697,739.00 Total trades were 229.

The All Share index gained 0.60  points ending at 233.38 points. PADENGA
and CAFCA LIMITED   both added $0.1000 closing at $2.9000 and $1.6000
respectively whilist SEEDCO INTERNATIONAL LIMITED   traded $0.0492 stronger
at $2.7525. ECONET WIRELESS   also increased by $0.0269 to end at $1.8294
and OK ZIMBABWE   was $0.0236 firmer at $0.6038. 

Gains were offset by losses in OLD MUTUAL LIMITED   which dropped by $0.5381
to settle at $34.0183, ZIMPLOW   which eased $0.0475 to $0.5525 and AXIA
CORPORATION   which traded $0.0271 weaker at $0.6329.  CASSAVA SMARTECH
LIMITED   also went down by $0.0097 to settle at $1.5906 and DELTA
CORPORATION   traded $0.0079 lower at $3.7954. 

 <mailto:info at bulls.co.zw> 

  Global Currencies & Equity Markets

South Africa

South African rand firms on improved sentiment, stocks down

(Reuters) - South Africa’s rand firmed on Wednesday as  global market
sentiment improved, with investors hopeful that a trade agreement  can be
reached between United States and China.

Stocks, led by the retail sector, fell on concerns around the local economy
which in turn weighed on shares whose primary business is in South Africa.

At 1524 GMT the rand was up 0.49% at 15.1950 per dollar, after it closed at
15.2700 on Tuesday.

Markets have begun October nervously, and this week has seen investors dump
stocks on concerns the U.S.-China conflict over trade and foreign policy is
nowhere near a resolution and is increasingly damaging the global economy.

The rand is one of the most liquid and frequently traded emerging-market
currencies, and a high degree of foreign investment makes it sensitive to
offshore events and swings in risk sentiment.

Bonds were slightly higher, with the yield on the benchmark 2026 paper down
5 basis points at 8.230%.

The benchmark Top-40 stock index fell 0.32% to 48,311 points, while the
All-Share index dropped 0.35% to 54,339 points.

Among the biggest fallers were general retailers, which dropped 2.26%, with
Truworths down 5.32% at 50.33 rand and TFG 3.64% lower at 157.39 rand.

Further losses were curbed by the bullion sector, up 2.72%, amid safe-haven
buying and a higher spot gold price.

Kenya

Kenyan shilling strengthens against the dollar

(Reuters) - The Kenyan shilling strengthened against the dollar on Wednesday
due to inflows from offshore investors buying government debt and tightening
liquidity in the local money market, traders said.     

At 0836 GMT, commercial banks quoted the shilling at 103.65/85 per dollar,
compared with 103.75/95 at Tuesday's close.

       <mailto:info at bulls.co.zw> 

Stocks slide, safe assets gain on anxiety over trade talks

(Reuters) - Global stocks tumbled and the safe haven yen and Swiss franc
gained in early Asian trade on Thursday, on signs Washington and Beijing
were still wide apart on trade issues and were making no progress in
deputy-level talks.

The South China Morning Post (SCMP) reported the Chinese delegation, headed
by Vice Premier Liu He, was planning to leave Washington after just a day of
minister-level meetings, instead of as originally planned on Friday.

S&P500 mini futures slumped as much as 1.3%, though they pared some losses
following a tweet from a CNBC reporter that the White House said it was not
aware of change in Liu’s plans. U.S. stock futures last stood down 0.7%.

MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.31% while
Japan’s Nikkei slip 0.11%.

The SCMP report on the U.S.-China trade talks came less than a couple of
hours after U.S. President Donald Trump told reporters he thought China
wanted to make a trade deal more than he did.

Chinese government officials told Reuters that Beijing has lowered
expectations for significant progress from this week’s trade talks with the
United States, upset by the blacklisting of Chinese companies.

Top negotiators from the two countries were scheduled to meet in Washington
on Thursday and Friday to try to end a bruising 15-month-old trade war.

Without significant progress, Trump is set to hike the tariff rate on $250
billion worth of Chinese goods to 30% from 25% next Tuesday.

China is unlikely to be willing to make an easy compromise with a U.S.
president who seems increasingly vulnerable to domestic political pressure
as opposition Democrats seek to impeach him, Mitsubishi’s Fujito added.

U.S. Democratic presidential contender Joe Biden called for the impeachment
of Trump for the first time in a deepening partisan fight over a
congressional investigation of the Republican president.

Before the report over stalled trade talks, share prices had gained on
Wednesday, with the S&P 500 rising 0.91% on hopes of a possible compromise
between the world’s two biggest economies.

In the currency market, the yen advanced up to 0.4% to 107.035 to the dollar
and last stood at 107.33.

The Swiss franc also gained as much as 0.4% to 0.9923 franc per dollar.

The Chinese yuan dropped 0.4% in offshore trade to 7.1685 per dollar,
touching its lowest in five weeks before bouncing to 7.1461.

The euro firmed slightly to $1.0986.

Sterling wobbled near one-month lows against the dollar and the euro as
hopes of a break-through on a key sticking point for a Brexit deal were
dashed.

Northern Ireland’s Democratic Unionist Party, a coalition partner in the
British government, said it would emphatically oppose a reported European
Union concession on the Irish backstop under any Brexit deal.

The pound last stood at $1.2212, near Tuesday’s five-week low of $1.2196.

The Turkish lira retreated to six-week lows as Turkish troops, together with
their Syrian rebel allies, attacked Kurdish militia in northeast Syria,
opening a fresh chapter in Syria’s eight-year-old civil war.

The lira fell to 5.8777 per dollar, the lowest since its flash crash on Aug.
26.

U.S. Treasuries yield slipped back after having risen to 1.594% on
Wednesday, pressured partly by this week’s heavy bond supply.

The 10-year U.S. Treasuries yield dropped 3.3 basis points on Thursday to
1.554%.

The price of front-end Fed funds rate futures gained, however, on increasing
bets on more rate cuts by the U.S. Federal Reserve.

The November contract is almost fully pricing in a 0.25 percentage point cut
on Oct. 30.

Oil prices also slid on the report on U.S.-China talks.

Brent crude futures fell 0.55% to $58.00 a barrel while U.S. West Texas
Intermediate (WTI) crude lost 0.48% to $52.34 per barrel.

 <mailto:info at bulls.co.zw> 

Commodities Markets

Gold at one-week high as trade talk hopes fade

(Reuters) - Gold prices scaled a one-week peak on Thursday as diminishing
hopes of progress at the ongoing Sino-U.S. trade talks sent stock markets
lower and prompted investors to seek bullion’s safety.

FUNDAMENTALS

* Spot gold rose 0.4% to $1,511.24 per ounce as of 0049 GMT. U.S. gold
futures gained 0.3% to $1,516.50.

* Asian stocks dropped, with MSCI’s broadest index of Asia-Pacific shares
outside Japan down 0.1%.

* The United States and China made no progress in deputy-level trade talks
held during Monday and Tuesday in Washington, the South China Morning Post
reported, with Chinese delegation planning to leave Washington on Thursday,
instead of Friday, as earlier planned.

* Hopes of a breakthrough in trade talks had dwindled earlier this week
after the U.S. government widened its trade blacklist to include some of
China’s top artificial intelligence startups, punishing Beijing for its
treatment of Muslim minorities and ratcheting up tensions.

* The talks were to take place ahead of a scheduled increase in U.S. tariffs
on $250 billion worth of Chinese goods, to 30% from 25% on Oct. 15.

* U.S. job openings fell to a 1-1/2-year low in August and hiring declined,
suggesting employment growth was slowing largely because of ebbing demand
for labour as the economy loses momentum.

* A 15-month trade war between the two countries has hurt business
confidence, leading to a retrenchment in business spending and a downturn in
manufacturing. The trade war has fanned financial market fears of a
recession.

* U.S. Federal Reserve Chair Jerome Powell on Tuesday flagged openness to
further rate cuts to fend off global economic risks. The minutes showed most
Fed policymakers supported the need for an interest rate cut in September.

* Elsewhere, Newmont Goldcorp said on Wednesday a blockade that began on
Sep. 14 at its Penasquito gold mine in Mexico has been lifted, though
operations remained temporarily suspended.

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/20191010/79605a80/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/20191010/79605a80/attachment-0006.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 29436 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20191010/79605a80/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/20191010/79605a80/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/20191010/79605a80/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/20191010/79605a80/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/20191010/79605a80/attachment-0011.jpg>