Bulls n Bears Daily Market Commentary : 04 November 2021

Thu Nov 4 15:54:59 CAT 2021

 <http://www.bullszimbabwe.com> Bullszimbabwe.com
<mailto:bulls at bulls.co.zw> Views & Comments
<http://www.bullszimbabwe.com> 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 : 04 November 2021

 <mailto:info at bulls.co.zw> 

ZSE commentary

The ZSE closed today in the negative with losses across the board amid low
levels of liquidity. Activity levels were at 317 trades. OK Zimbabwe was the
most active stock at 29 trades followed by Star Africa and Delta at 28 and
22 trades respectively. Market bias was negative as 20 stocks declined
against 16 risers while five of the active stocks remained unchanged.
Truworths anchored volume aggregate trading 3 380 600 shares and Delta
anchored value aggregate with a value of ZW$14.1 million. The All-Share
Index closed 0.50% lower at 11 673.80 points. The Top 10 Index shaded 0.20%.
The Top 15 Index also shaded 0.41%. The Medium Cap Index lost 1.27% to 22
226.89 points whilst the Small Cap Index also shaded 0.68% to 350 441.68
points.

Leading the risers pack of the day was Mashonaland Holdings adding 18.28%
and Cassava up by 6.48%. Rio Zimbabwe gained 5.71% and FBC gained 2.72% to
3199.86c. Innscor Africa was up by 2.38%. Mitigating the gains were losses
in National Tyre Services and Meikles which shaded 16.67% and 14.32%
respectively. CBZ Holdings was down by 13.64% to 9500c. First Mutual
Holdings and Zimpapers pared 11.54% and 9.90% respectively. The Old Mutual
Top Ten ETF closed at 441.15c down by 1.22% after 42 235 units were traded
worth ZW$186 321.40 in 20 trades.wealthaccess

Global Currencies & Equity Markets

South Africa

South Africa's rand weaker ahead of local polls results

(Reuters) - The South African rand weakened early on Thursday ahead of the
announcement of municipal elections results later in the day, with the
outcome expected to show the country's ruling party recorded its poorest
ever electoral showing.

At 0640 GMT, the rand ZAR=D3 traded 0.44% weaker at 15.3200 against the
dollar, giving up some overnight gains that were spurred by a weaker dollar
after the U.S. Federal Reserve said it would not rush to raise interest
rates.

South Africa's electoral commission is due to announce final results in
Monday's local government polls at 6 p.m. (1600 GMT), according to a
statement from the presidency.

On Wednesday, with results in from over 80% of more than 23,000 polling
stations, the ruling African National Congress had 46% of the national vote,
down from 54% in 2016, itself the worst result yet. Party officials
acknowledged public anger over poor services and corruption.

Such a result could weaken the hand of President Cyril Ramaphosa and dent
his efforts to drive reforms.

In fixed income, the yield on the benchmark 2030 government bond ZAR2030=
was down 6.5 basis points to 9.64%.

Nigeria

Despite 113% Spike in Forex Demand, Naira Gains 27 kobo 

It was a good day for the Naira at the Investors and Exporters (I&E) window
of the foreign exchange (FX) market on Wednesday as it appreciated against
the US Dollar at the close of transactions.

Business Post reports that the Nigerian currency gained 0.06 per cent or 27
kobo against its American counterpart to quote at N414.80/$1 compared with
N415.07/$1 it was quoted on Tuesday at the same market segment.

This was despite the 113.1 per cent or $70.79 million spike in forex demand
at the midweek trading session as the turnover for the day stood at $133.37
million compared with the $62.58 million achieved at the preceding session.

However, for yet another session, the Naira depreciated against the
greenback at the interbank segment of the market by 7 kobo yesterday to sell
for N411.24/$1 in contrast to N411.17/$1 it finished on Tuesday.

A look at the digital currency market showed that a majority of the cryptos
tracked by this newspaper were bullish on Wednesday as the market aims to
find its footing after a strong October.

Ripple (XRP) recorded the highest gain after growing by 6.3 per cent to sell
for N680.00, followed by Litecoin (LTC) and Tron (TRX), which both went up
by 2.1 per cent during the session to trade at N115,114.21 and N60.90
respectively.

Cardano (ADA) saw its value rise by 1.3 per cent to N1,216.06, Binance Coin
(BNB) made a 1.2 per cent gain to trade at N229,962.24, while the second
most popular of the digital currencies, Ethereum (ETH), appreciated by 0.9
per cent to trade at N2,524,985.96, with Dash (DASH) moving up by 0.3 per
cent to sell for N114,989.99.

However, three coins were bearish on Wednesday led by the US Dollar Tether
(USDT), which moved downwards by 1.5 per cent to sell for N563.10. Dogecoin
(DOGE) closed 0.9 per cent lower to sell at N161.00, while Bitcoin (BTC)
declined by 0.3 per cent to quote at N35,244,925.39.

 <mailto:info at bulls.co.zw> 

Global Markets

Dollar stems losses, sterling waits for key BoE meet

(Reuters) - The dollar halted its slide on Thursday after losing ground the
day before when the U.S. Federal Reserve said it would not rush to raise
interest rates, while the pound was on edge ahead of a closely watched Bank
of England meeting.

Sterling , which had initially led the gains on the dollar after the Fed was
last at $1.3660, down from its week high of $1.3698 hit in early Asian hours
Thursday.

The euro, which had also climbed on Wednesday, gave up some of its gains and
stood at $1.15932.

The two accounted for many of the moves of the dollar index which rose 0.15%
on Thursday after Wednesday's 0.25% fall.

Moves in the British currency were also capped by caution ahead of a Bank of
England meeting at which could it could become the first of the world's big
central banks to raise rates since the coronavirus pandemic.

Markets are pricing in a rate rise from the BoE, and a steady pace of rises
in 2022, but economists polled by Reuters said it was too close to call, as
Britain, like much of the world grapples with balancing rate rises to combat
inflation with worries about the growth outlook. read more

Minutes of BoE's Monetary Policy Committee meeting are due at 12.00 GMT.

Overnight the Fed announced a $15 billion monthly cut to its $120 billion in
monthly purchases of Treasuries and mortgage-backed securities, but chairman
Jerome Powell said the U.S. central bank would be "patient" in deciding when
to raise its benchmark overnight interest rate from near zero levels. read
more

Elsewhere, the yen stayed soft, with one dollar at 114.14 yen within a good
leap of the dollar's multiyear high of 114.69 yen hit last month.

The Aussie dollar climbed slightly to $0.7453, helped by the softer dollar,
but has more work to do to recover from its 1.2% fall on Tuesday after the
Reserve Bank of Australia adopted a dovish tone at its key meet. read more

In the world of cryptocurrencies. Bitcoin was around $62,750 having largely
traded sideways since it hit its all time high of $67,000 last month. Ether,
the world's second-largest cryptocurrency, dropped 0.5% to $4,581,
retreating from its record high hit the day before.

The Thomson Reuters Trust Principles.

 <mailto:info at bulls.co.zw> 

Commodities Markets

Copper rises as Fed plans no immediate rate hike

(Reuters) - London copper prices advanced on Thursday after the U.S. Federal
Reserve signalled no immediate hike in interest rates to sustain a recovery
in economic growth and employment.

Three-month copper on the London Metal Exchange was up 0.7% at $9,526 a
tonne, as of 0724 GMT, rebounding from two straight sessions of losses.

The most-traded December copper contract on the Shanghai Futures Exchange
eased 0.6% to 70,150 yuan ($10,971.74) a tonne, tracking overnight losses in
London.

The Fed said it would trim its massive bond-buying programme starting this
month, but stay patient and wait for more job growth before raising interest
rates.

Copper is often used as a gauge of global economic health due to its
widespread application in many sectors. A delay in U.S. rate hikes is likely
to sustain growth in the world's biggest economy.

Meanwhile, fundamentals remained supportive for copper prices amid supply
uncertainty and resilient consumption, Jinrui Futures said in a note.

Copper inventories in LME and ShFE warehouses MCUSTX-TOTALCU-STX-SGH
remained at multi-years low levels, with the LME cash copper trading at a
premium of $190 a tonne over the three-month contract MCU0-3, indicating
tightness of nearby supply.

FUNDAMENTALS

* Top copper miner Codelco's output in September fell 16% year-on-year to
133,800 tonnes, while production at BHP's Escondida, the world's largest
copper mine, dropped 12.2% to 82,600 tonnes in the same month, Chilean state
copper commission Cochilco said on Wednesday.

* LME aluminium rose 0.6% to $2,672.50 a tonne, nickel advanced 1.2% to
$19,385 a tonne, and zinc was up 1% at $3,340 a tonne.

* ShFE aluminium fell 1.6% to 19,780 yuan a tonne, nickel decreased 1.4% to
142,820 yuan a tonne, while tin rose 1.6% to 277,700 yuan a tonne.

INVESTORS DIARY 2021

Company

Event

Venue

Date & Time

National Unity Day

December 22

Christmas Day

December 25

Boxing Day

December 26

Public Holiday in lieu of Boxing Day falling on a Sunday

December 27

Counters trading under cautionary

ART

Seed co Int.

Starafrica

Medtech

Turnall

Seed co

Invest Wisely!

Bulls n Bears 

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.bullszimbabwe.com> www.bullszimbabwe.com 

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 

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) 2021 Web: <http://www.bullszimbabwe.com>  www.bullszimbabwe.com Email:
<mailto:info at bulls.co.zw> info at bulls.co.zw Tel: +263 4 2927658 Cell: +263 77
344 1674

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20211104/a3e50c4a/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20211104/a3e50c4a/attachment-0002.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 22328 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20211104/a3e50c4a/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 107064 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20211104/a3e50c4a/attachment-0004.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/20211104/a3e50c4a/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20211104/a3e50c4a/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65555 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20211104/a3e50c4a/attachment-0001.obj>