Bulls n Bears Daily Market Commentary : 05 February 2020

Thu Feb 6 00:06:34 CAT 2020

 <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 : 05 February 2020

<https://www.fbc.co.zw/about-us/updates/step-new-world-endless-convenience-m
odernised-fbc-mobile-banking-platform> 

Zimbabwe Stock Exchange Update

Market Turnover ZWL$12,290,021.08 with foreign buys at NIL and   foreign
sales were ZWL$2,238,965.91 Total trades were 120

The All Share index went further down by 4.35 points  to close at 317.12
points. OLD MUTUALLI MITED led the shakers with a $0.6105 loss to $40.0000,
CASSAVA SMARTECH 

eased $0.2974 to $2.0874 and PADENGA was $0.0627 lower at $4.2000. SIMBISA
also decreased by $0.0401 to $2.0250 and ECONET traded $0.0295 weaker at
$2.2492.

Losses were offset by gains in SEEDCO  which added $0.2643 to $2.9956, AXIA
added $0.1976 to $1.1975 and INNSCOR was $0.1115 up at $4.5000. ZB FINANCIAL
HOLDINGS also rose by $0.0600 to $1.0000 and AFRICAN SUN  was $0.0520
stronger at $0.3120

 <mailto:info at bulls.co.zw> 

  Global Currencies & Equity Markets

Kenya

Kenyan shilling strengthened due to inflows from remittances

(Reuters) - The Kenyan shilling strengthened on Wednesday due to inflows
from remittances and offshore investors buying government debt exceeding
dollar demand from importers, traders said.

At 0848 GMT, commercial banks quoted the shilling at 100.20/40 per dollar,
compared with 100.30/50 at Tuesday’s close.

Uganda

Ugandan shilling weakens as interbank players beef up positions

(Reuters) - The Ugandan shilling weakened on Wednesday, on the back of an
uptick in demand from players in the interbank market seeking to beef up
their hard currency positions.

At 0927 GMT commercial banks quoted the shilling at 3,680/3,690, compared to
Tuesday’s close of 3,670/3,680.

EMERGING MARKETS

EM stocks stage rebound, set to snap eight-day losing streak

(Reuters) - Stocks across the developing world staged a comeback on Tuesday,
rising for the first time in nine sessions as China’s pledge to use monetary
policy tools calmed some nerves around the coronavirus epidemic.

In efforts to ease concerns, the People’s Bank of China said it was
injecting 1.2 trillion yuan ($174 billion) worth of liquidity into the
markets via reverse repo operations on Monday.

A basket of emerging market equities rose 1.7%, after losing more than 6% in
the last eight sessions, as risk appetite was battered by the fast spreading
virus in China.

Hong Kong reported its first death from the coronavirus on Tuesday, the
second outside mainland China from an outbreak that has killed over 420
people so far.

Turkish stocks climbed more than 1%, with shares in state-owned Halkbank
leading gains as it jumped more than 7% after a federal U.S. appeals court
on Monday agreed to pause proceedings while a three-judge panel reviews a
motion by the bank to dismiss charges against it.

Stocks in Russia stabilized, while the rouble gradually firmed after hitting
two-month lows in the previous session. The commodity-linked currency also
tracked a slight recovery in oil prices.

Currencies in central and eastern European economies including Hungary, the
Czech Republic and Romania strengthened versus the euro.

 <mailto:info at bulls.co.zw> 

Commodities Markets

Copper jumps to one-week high after China stimulus

(Reuters) - Copper prices rebounded to their highest level in more than a
week on Wednesday as investors unwound bearish positions after the central
bank in China, the world’s biggest metals consumer, pumped stimulus into its
economy.

Industrial metals joined broad-based rises across financial markets with
investors hoping that the Chinese move would offset any economic damage from
the coronavirus outbreak.

Three-month copper on the London Metal Exchange hit $5,769 a tonne, its
highest since Jan. 27, before paring gains to trade at $5,737 by 1100 GMT, a
rise of 2.1%.

LME copper had tumbled 13% during a string of 14 consecutive losing sessions
on fears that the virus would curb economic activity and demand for metals,
but the slide ended on Monday.

Shanghai Futures Exchange’s most-traded copper contract rose 1.1% on
Wednesday to 45,550 yuan a tonne

* COPPER OUTPUT/DEMAND: China’s copper smelters will reduce output by more
than 15% in February from last month due to the coronavirus outbreak, said
Antaike, the research arm of the China Nonferrous Metals Industry
Association.

“We expect some short-term headwinds to copper demand from China as a result
of the novel coronavirus epidemic,” said analyst Sabrin Chowdhury at Fitch
Solutions in Singapore.

* DEATH TOLL: China’s National Health Commission said another 65 people had
died, a new daily record taking the toll on the mainland to 490, while there
were 24,324 people infected.

* CHINA TRADE: China’s exports and imports likely fell in January after a
brief rebound at the end of 2019.

* ZINC SPREAD: The premium of LME cash zinc over the three-month contract
receded to $5.25 a tonne, the lowest since late December, from $23.75 two
weeks ago, indicating there are more metal supplies in the LME system.

* PRICES: LME aluminium rose 2.1% to $1,720 a tonne, nickel climbed 3.1% to
$13,225, zinc advanced 2.8% to $2,228, lead added 1% to reach $1,843.50 and
tin was 0.6% higher at $16,420.

INVESTORS DIARY 2020

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) 2020 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/20200206/f3f1c982/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/20200206/f3f1c982/attachment-0007.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 13337 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200206/f3f1c982/attachment-0008.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 30147 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200206/f3f1c982/attachment-0009.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 35850 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200206/f3f1c982/attachment-0010.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 37760 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200206/f3f1c982/attachment-0011.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image006.jpg
Type: image/jpeg
Size: 30178 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200206/f3f1c982/attachment-0012.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image007.jpg
Type: image/jpeg
Size: 4846 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200206/f3f1c982/attachment-0013.jpg>