Bulls n Bears Daily Market Commentary : 04 January 2022

Tue Jan 4 16:43:00 CAT 2022

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Bulls n Bears Daily Market Commentary : 04 January 2022

 <mailto:info at bulls.co.zw> 

ZSE commentary

The ZSE shares closed today's session in the red with losses in heavyweight
and mid cap stocks. The newly listed Morgan & Co ETF registered its first
trades today. Activity levels were higher at 509 trades. Delta was the most
active stock at 45 trades followed by Econet and OK Zimbabwe at 36 and 32
trades respectively. Investor sentiment was strongly negative after the
session yielded 24 decliners against 13 risers while one of the active
stocks remained unchanged. Zimre Holdings anchored volume aggregate trading
828 600 shares and Meikles anchored the value aggregate with a value of
ZW$37.23 million.

The All-Share Index shaded 1.38% to close at 10 845.57 points. The Top 10
Index pared 1.81%. The Top 15 Index also lost 1.60%. The Medium Cap Index
was down by 0.46% to 20 596.16 points whilst the Small Cap Index added 2.86%
to 408 128.80 points. Leading the risers pack of the day was Turnall
Holdings adding 18.15%. NMB Holdings was up by 16.97%. First Mutual Holdings
added 5.00% and Simbisa Brands added 4.75% to 9487.52c. Mitigating the gains
were losses in First Mutual Properties  and Cassava which shaded 8.05% and
7.28% to 672.54c and 4350.48c respectively. CBZ Holdings was down by 6.69%
to 7494.29c. Wildale and RTG shaded 6.11% and 5.28% respectively. The Old
Mutual Top Ten ETF closed at 443.88c up by 0.11% and the Morgan & Co ETF
closed at 1097.77c up by 9.78%. Total units traded were 1 213 257 worth
ZW$11 395 663.25 in 111 trades.-wealthaccess

Global Currencies & Equity Markets

South Africa

Rand flat in early trade against the dollar

The rand was flat in early trade on Tuesday, holding on to some of the gains
made in the previous session on upbeat global mood as investors looked
beyond clouds cast by the rapidly spreading cases of the Omicron coronavirus
variant.

At 0622 GMT, the rand traded at 15.8500 against the dollar, largely
unchanged from its previous close.

While the surge in coronavirus cases caused by the Omicron variant continued
to impact global travel and public services, investors remained optimistic
that lockdowns would be averted.

In South Africa, officials believe the country has passed the peak of a wave
of coronavirus infections caused by Omicron.

The rand is likely to track the global mood, with the local economic data
calendar being light this week. A purchasing managers' survey is due on
Wednesday, while reserves figures are due on Friday.

 <mailto:info at bulls.co.zw> 

Global Markets

Dollar starts off 2022 on higher note as yields climb

(Reuters) - The U.S. dollar rose against a basket of major currencies on
Monday, the first trading day of the new year, in sync with government bond
yields as investors anticipate the Federal Reserve will stay on its path of
interest rate hikes in 2022.

While the surge in coronavirus cases caused by the Omicron variant continued
to impact global travel and public services, investors remained optimistic
that lockdowns would be averted.

On Monday, the U.S. Food and Drug Administration authorized the use of a
third dose of the Pfizer and BioNTech COVID-19 vaccine for children aged
between 12 and 15 years, and narrowed the time for all booster shots to five
months from six months after primary doses.

Yields on U.S. two-year notes, which are sensitive to rate hike
expectations, along with 5-year notes, soared to their highest level since
March 2020. Benchmark U.S. 10-year and 5-year yields rose to six-week peaks.
The U.S. central bank is seen as likely to begin hiking interest rates by
mid-2022.

Economic data showed a gauge of manufacturing for December by Markit dipped
to 57.7 from its prior reading of 57.8, but still indicating expansion.
November construction spending rose 0.4%, shy of expectations calling for a
rise of 0.6%.

The Japanese yen weakened 0.17% versus the greenback at 115.27 per dollar,
while sterling was last trading at $1.3482, down 0.35% on the day.

Trading volumes, however, were expected to be thin as London, Europe's main
FX trading center, is closed for a market holiday.

In the broader euro zone, manufacturing activity remained resilient as
factories took advantage of an easing in supply chain constraints and
stocked up on raw materials at a record pace.

Turkey's annual inflation rate surged to 36.1% last month, its highest in
the 19 years Tayyip Erdogan has ruled, laying bare the extent of a currency
crisis caused by the president's unorthodox interest rate-cutting policies.
The Turkish lira was last trading up 1.7% at 12.960 per dollar, but off an
early low of 13.92.

Bitcoin BTC=BTSP last fell 1.61% to $46,587.63.

The Thomson Reuters Trust Principles.

 <mailto:info at bulls.co.zw> 

Commodities Markets

Copper price down pressured by stronger dollar

Copper price fell on Tuesday pressured by a stronger dollar.

March delivery contracts were exchanging hands for $4.40 a pound ($9,680 a
tonne) on the Comex market in New York, down 0.4% compared to Monday's
closing.

Copper price on the Shanghai Futures Exchange ended daytime trading 0.5%
higher at 70,380 yuan ($11,043.46) a tonne. Shanghai copper benchmark has
gained more than 20% this year.

Click here for an interactive chart of copper prices.

The most-traded February copper contract on the Shanghai Futures Exchange
fell 0.5% to 69,760 yuan ($10,948.07) a tonne.

The dollar index held firm, after rising 0.6% in the previous session,
underpinned by a jump in Treasury yields overnight, as traders bet on an
early US Federal Reserve interest rate hike.

While a firmer dollar makes greenback-priced metals more expensive to
holders of other currencies, an early rate rise could trim liquidity in
financial markets and slow recovery in the world's biggest economy.

Shanghai copper benchmark gained more than 20% in 2021, on robust demand
from top consumer China, but some analysts expect demand to cool down in
2022.

(With files from Reuters)

Gold firms above $1800 per ounce as pandemic, inflation risks linger

Gold climbed above the key $1,800-per-ounce level on Tuesday, after a sharp
retreat in the last session, as some investors sought cover from
pandemic-led uncertainty, inflation and its impact on the U.S. Federal
Reserve's rate hike trajectory.

Spot gold rose 0.2% to $1,804.89 per ounce by 1110 GMT, after recording its
worst session in more than a month on Monday. U.S. gold futures rose 0.3% to
$1,805.3.

The dollar index and benchmark 10-year Treasury yields stayed strong on
Tuesday, after having driven bullion's sharp declines in the last session.

In the physical market, the world's second-biggest bullion consumer India
splurged a record $55.7 billion on gold imports, amid lower prices and
pent-up wedding demand. 

Spot silver fell 0.3% to $22.79 per ounce, platinum rose 0.7% to $961.40,
and palladium rose 2.4% to $1,868.68.

INVESTORS DIARY 2022

Company

Event

Venue

Date & Time

Counters trading under cautionary

ART

Seed co Int.

Starafrica

Medtech

Turnall

Seed co

Invest Wisely!

Bulls n Bears 

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