Bulls n Bears Daily Market Commentary : 31 January 2020

Mon Feb 3 08:44:52 CAT 2020

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Bulls n Bears Daily Market Commentary : 31 January 2020

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Zimbabwe Stock Exchange Update

Market Turnover ZWL$36,412,155.60 with foreign buys at ZWL$5,242.50 and
foreign sales were ZWL$21,112,319.31 Total trades were 254

The All Share index ended the week on a high pitch after a massive gain of
37.25 points  to close at 332.90 points. BAT LIMITED led the movers with a
significant $10.0500 gain ending at $60.3500, DELTA traded $0.8421 higher at
$5.0624 and OLD MUTUAL LIMITED  went up by $0.7710 to $47.9881. PADENGA
HOLDINGS LIMITED  advanced by $0.6043 to $4.1571 and AFRICAN DISTILLERS
traded $0.5995 stronger at $3.6000.

Trading in the negative was TSL LIMITED  which lost $0.2000 to end at
$0.8000, RIO ZIM  was $0.1300 lower at $ 2.3200 and DAIRIBOARD traded
$0.0253 lower at $0.5842. Two more counters to lose ground were MASHONALAND
HOLDINGS  which went down by $0.0201 to close at $0.1149 and WIILDALE  which
eased $0.0082 to end at $0.0432.

  Global Currencies & Equity Markets

Tunisia

Tunisian banks lend government about $500 mln

(Reuters) - Tunisian banks agreed on Friday to lend the government 455
million euros ($504 mln), the government said, as it struggles to borrow
about $4.3 billion this year.

The North Africa country has awaited the installation of a new government
since elections last October and political parties failed to reach an
agreement.

Prime Minister designate Elyes Fakhfakh, proposed this month by President
Kais Saied, hopes to form a coalition government next week.

Tunisia needs about $4.3 billion of loans this year including $1.3 billion
from the local market.

The finance ministry said that the loan will help to stabilize the Tunisian
currency and aimed to finance the budget. 

Kenya

Kenyan shilling firms against the dollar

(Reuters) - The Kenyan shilling was firm on Friday helped by inflows from
offshore investors buying government debt amid thin dollar demand from the
energy sector,traders said.

At 0822 GMT, commercial banks quoted the shilling at 100.45/65 per dollar,
compared with 100.55/75 per dollar at Thursday's close.  

EMERGING MARKETS

EM stocks log dour week as China epidemic dents growth optimism

(Reuters) - Emerging market stocks fell for the seventh straight session on
Friday, with optimism around faster global growth fading as the World Health
Organization declared a global emergency in the wake of the deadly
coronavirus outbreak in China.

An index of emerging market stocks shed 0.4% and was on track to log its
biggest weekly decline since May 2019, as risk appetite took a hit from the
epidemic that has killed more than 200 people and drew a warning from the
U.S. government against travelling to China.

With several companies suspending operations in China and with the travel,
tourism and retail sectors taking a hit from tough containment measures by
Beijing, investors have turned wary about an uptick in economic growth.

Latest data from the world’s No.2 economy showed factory activity faltered
in January, raising concerns about a further slowdown in February as the
full economic effects of the outbreak become known.

With Chinese onshore markets closed until Feb. 3 for the Lunar New Year
holidays, declines in Asia were led by South Korean shares, which closed out
the week with their sharpest fall in 15 months.

Several emerging market currencies remained muted on Friday against a steady
dollar, but were still eyeing their second straight week of declines.

The Turkish lira was nearly unchanged, a day after the central bank released
quarterly inflation forecasts for 2020 and kept the door open for more
policy easing after aggressively cutting interest rates last year.

Turkish equities were down about 0.2%. Glassmaker Sisecam outperformed the
wider index with an 11% jump after forecasting a 200-300 basis points
increase in EBITDA as a result of a merger with its units.

South Africa’s rand shed about half a percent, weighed down by renewed power
cuts and a weak domestic economic outlook. The currency had tumbled nearly
1% on Thursday.

Other currencies in central and eastern European economies including
Hungary, the Czech Republic and Romania were flat versus the euro.

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Commodities Markets

Gold on track for best month in 5 as virus stifles risk appetite

(Reuters) - Gold prices rose on Friday and were heading for their best month
in five as worries over economic growth due to the fast-spreading
coronavirus boosted appetite for safe havens.

Supply-squeezed palladium, meanwhile, was on track for its biggest monthly
percentage gain since November 2016.

Spot gold was up 0.5% at $1,582.35 per ounce by 10:13 a.m. EST (1513 GMT).
The metal has gained more than 4% so far this month.

U.S. gold futures edged 0.1% lower to $1,587.30.

The World Health Organization declared the epidemic a global emergency after
the virus killed more than 200 people in China and affected thousands
globally.

The virus fears gripped financial markets, overshadowing the latest batch of
upbeat corporate earnings.

On the physical side, however, an extended holiday in top consumer China due
to the outbreak dimmed activity in top Asian bullion hubs.

Auto-catalyst palladium, which is in short supply, has risen 18% so far this
month, having hit a record high of $2,582.19 per ounce on Jan. 20. On the
day, palladium was down 0.6% at $2,295.78.

Silver rose 0.5% to $17.91, but was down 1% for the week. Platinum dipped
2.1% to $956.64, and was on track for its worst week since early November.

INVESTORS DIARY 2020

Company

Event

Venue

Date & Time

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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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