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></o:p></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr><td width=880 colspan=4 valign=top style='width:660.25pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-left:26.1pt;line-height:105%'><span class=style30><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Bulls n Bears Daily Market Commentary : 31 August 2023</span></b></span><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p></o:p></span></b></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr style='height:1.0pt'><td width=880 colspan=4 valign=top style='width:660.25pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:1.0pt'><p class=MsoNormal style='line-height:105%'><span class=style30><b><o:p> </o:p></b></span></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm;height:1.0pt'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> </span><o:p></o:p></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr style='height:7.2pt'><td width=881 colspan=5 valign=top style='width:661.0pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:7.2pt'><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><!--[if gte vml 1]><v:shapetype id="_x0000_t75" coordsize="21600,21600" o:spt="75" o:preferrelative="t" path="m@4@5l@4@11@9@11@9@5xe" filled="f" stroked="f">
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</v:shapetype><v:shape id="Picture_x0020_4" o:spid="_x0000_s1026" type="#_x0000_t75" href="https://www.dulys.co.zw/" style='position:absolute;left:0;text-align:left;margin-left:-.3pt;margin-top:0;width:281.6pt;height:402.2pt;z-index:251659264;visibility:visible;mso-wrap-style:square;mso-width-percent:0;mso-height-percent:0;mso-wrap-distance-left:9pt;mso-wrap-distance-top:0;mso-wrap-distance-right:9pt;mso-wrap-distance-bottom:0;mso-position-horizontal:absolute;mso-position-horizontal-relative:text;mso-position-vertical:absolute;mso-position-vertical-relative:text;mso-width-percent:0;mso-height-percent:0;mso-width-relative:margin;mso-height-relative:margin' o:button="t">
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</v:shape><![endif]--><![if !vml]><a href="https://www.dulys.co.zw/"><img border=0 width=375 height=536 src="cid:image003.jpg@01D9DC9C.AF870290" align=left hspace=12 title="" v:shapes="Picture_x0020_4"></a><![endif]><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><br> ZSE commentary<o:p></o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Zimbabwe Stock Exchange (ZSE)<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The local bourse continues to extend gains. During today's trading session the market gained 2.60% with an overall Market Cap at ZWL$9.98 trillion. Total turnover aggressively increased by 61.02% to ZWL$ 2.60 billion while Total volumes traded subsided by 2.04% to ZWL$6.59 million. Delta, OK Zimbabwe, and BAT Zimbabwe were today's three most traded counters, constituting about 78% of the total turnover.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The All-Share Index increased by 2.63% to 125,134.79 points at the back of 15 risers and 7 decliners. The Top-15 index gained 2.86% to close at 81,140.54 points. The Top 10 Index also increased by 2.72% to close at 58,625.14 points.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The mover's list for today was led by the circuit breaker Nampak Zimbabwe, which earned 15.00% to close at $149.55. Trailing the risers list was BAT Zimbabwe, Seed Co and First M. Ltd after advancing by 14.86%, 14.60% and 14.00% to close at $17,953.16, $1,133.25, and $171,00, respectively. <o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Willdale suffered a strong defeat of 66.46% and closed at $3.35. The shakers list also included CBZ Holdings and FBC Holdings which trimmed 12.08% and 1.24% to close at $718.96 and $809.86, respectively. OK Zimbabwe and Ariston were also among the defeated after losing 0.79% and 0.67%, respectively. <o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Victoria Falls Stock Exchange (VFEX) <o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The VFEX All Share Index gained 1.04% to close at 71.84 points. Innscor Africa Ltd was the most traded counter on the VFEX Exchange, contributing 47.50% of the total turnover.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Global Currencies & Equity Markets<o:p></o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>South Africa<o:p></o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>South African rand weakens against stronger dollar<o:p></o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>(Reuters) - South Africa's rand weakened on Thursday against a stronger dollar as data painted a mixed picture of the U.S. economy.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>At 1544 GMT, the rand traded at 18.9300 against the dollar , nearly 1.3% weaker from its previous close.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>South Africa's July producer inflation (ZAPPIY=ECI) and trade figures (ZATBAL=ECI) did little to prop up its currency, with the rand taking cues from the stronger dollar.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>South Africa recorded a trade surplus of 15.96 billion rand ($849.53 million) in July, revenue service figures showed, while the statistics agency said the country's producer inflation slowed to 2.7% year on year in July from 4.8% in June.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The dollar index was last up nearly 0.6% against a basket of other major currencies.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>U.S. consumer spending accelerated in July with an 0.8% increase, but slowing inflation fuelled expectations that the Federal Reserve would leave interest rates unchanged next month.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Shares on the Johannesburg Stock Exchange fell, with the blue-chip Top 40 index (.JTOPI) closing 0.34% lower.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>South Africa's benchmark 2030 government bond fell, sending its yield up 7 basis points to 10.275%.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Malawi<o:p></o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Kwacha continues to lose value against dollar<o:p></o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The Malawi kwacha has hit K1,126 to the dollar this month as it continues to lose value under the Lazarus Chakwera administration.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The Kwacha has fell by 2.8 percent from K1,095 last month.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>This follows a foreign exchange auction the Reserve Bank of Malawi (RBM) conducted on Tuesday.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>In a letter addressed to Authorised Dealer Banks (ADBs) on Thursday, Reserve Bank of Malawi Governor Wilson Banda said the maximum selling price of the Kwacha shall be K1,126.77 per dollar effective tomorrow, September 1.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The central bank announced in January this year that foreign exchange auctions will be determining the market clearing price of the Malawi Kwacha against the United States dollar and other major currencies.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>However, on the black market and in some banks, the Kwacha is being sold at between K1500 and K1800 per dollar.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The Kwacha which was trading at K1,034.67 per dollar n December 2022 has been losing value for several months. Malawi has also been facing challenges of foreign currency scarcity for over a year.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Analysts have been advising the Lazarus Chakwera administration to control expenditure and use of foreign currency such as cutting foreign trips.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><a href="mailto:info@bulls.co.zw"><span style='font-family:"Verdana",sans-serif;color:windowtext;text-decoration:none'><img border=0 width=300 height=296 id="_x0000_i1030" src="cid:image004.jpg@01D9DC9C.AF870290"></span></a><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Global Markets<o:p></o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Dollar set for weekly loss as crucial US jobs data looms<o:p></o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>(Reuters) - The dollar was on course to snap a six-week winning streak against major peers on Friday, as it headed into a pivotal monthly U.S. jobs report that is likely to inform the path for Federal Reserve policy over coming months.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The U.S. currency dipped to a one-week low against the yen, weighed down by slumping Treasury yields, after a volatile week when overall soft economic data tempered the outlook for further Fed rate hikes.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>However, the greenback held on to gains made against the euro and sterling overnight after policymakers at the respective central banks struck more dovish postures ahead of policy meetings this month.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Elsewhere, the Chinese yuan strengthened after the nation's central bank cut forex reserve requirements for the first time in a year.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The U.S. dollar index - which measures the currency against a basket of six developed-market peers, including the euro, sterling and yen - edged 0.05% lower to 103.58 on Friday, bringing declines this week to 0.53%.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>A parade of employment and inflation data has paved the way to the nonfarm payrolls report later in the global day, and much of it has been on the weaker side, leading traders to pare bets for a rate hike on Sept. 20 to 12% from 18% a week ago, according to the CME Group's FedWatch tool.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Two-year Treasury yields , which are particularly sensitive to rate expectations, have declined about 20 basis points this week to 4.86%, the biggest slide since mid-March.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>That has helped push the dollar down against the yen . It slipped 0.08% to 145.405 yen on Friday, putting its loss for the week at 0.7%.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The dollar made up some ground on the euro overnight though. The single currency was little changed at $1.08455 following a 0.74% tumble on Thursday that pared its weekly advance to 0.49%.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Euro-area data on Thursday showed core inflation fell in August. Expectations for an "upside surprise" had been building after German inflation outpaced forecasts in a reading on Wednesday, said Ray Attrill, head of foreign-exchange strategy at National Australia Bank.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>"There's a little bit of relief there, (which) had an impact in just dampening expectations for a September ECB hike," he said. "That's basically what took the bite out of the euro."<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Also on Thursday, Bank of England chief economist Huw Pill highlighted the risk that policy tightening will hurt Britain's economy, even as he said the central bank will "see the job through" on bringing inflation back to target.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>"Pill's comments appear consistent with another quarter-point turn of the screw on 21 September, but not necessarily thereafter," Attrill said.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>In Asia, the early focus turned to the yuan, which jumped to the highest since Aug. 11 at 7.2392 per dollar in offshore trading , before paring some of those gains. The dollar was last 0.25% weaker at 7.2574 yuan.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The People's Bank of China said it would cut the foreign exchange reserve requirement ratio (RRR) by 200 basis points to 4% beginning Sept. 15, according to an online statement, as it expanded efforts to shore up its embattled currency, which sank to an 11-month trough at 7.3426 in mid-August.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>In cryptocurrencies, bitcoin unwound all of its gains for the week, last trading at $26,021 after dropping 5% overnight as the Securities and Exchange Commission (SEC) delayed a decision on whether to approve several applications for spot bitcoin ETFs.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Bitcoin had jumped as high as $28,142 on Tuesday after a U.S. court ruled that the SEC was wrong to reject an application from Grayscale Investments to create such an ETF, which would be the first of its kind.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><a href="mailto:info@bulls.co.zw"><span style='font-family:"Verdana",sans-serif;color:windowtext;text-decoration:none'><img border=0 width=300 height=296 id="_x0000_i1029" src="cid:image004.jpg@01D9DC9C.AF870290"></span></a><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p></o:p></span></p><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Commodities Markets<br><br><o:p></o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Gold prices rise to reach Rs 60,160, silver prices unchanged at Rs 77,600<o:p></o:p></span></b></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The price of 24-carat gold registered a marginal rise of Rs 160 during Friday's early trade, with ten grams of the precious metal selling at Rs 60,160, according to the GoodReturns website. On the other hand, the price of silver remained unchanged, selling for Rs 77,600 per kilogram.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The price of 22-carat gold rose by Rs 150 per 10 grams, with the yellow metal selling at Rs 55,150 per kilogram.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The price of ten grams of 24-carat gold in Mumbai is on par with that in Kolkata and Hyderabad, at Rs 60,160.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 60,310, Rs 60,160 and Rs 60,490, respectively.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>The price of ten grams of 22-carat gold in Mumbai is on par with that in Kolkata and Hyderabad, at Rs 55,150.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Spot gold edged down 0.1 per cent to $1,940.23 per ounce at 13:51 EDT (17:51 GMT), close to its highest since 2 August, at $1,948.79, reached on Wednesday.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Bob Haberkorn, senior market strategist at RJO Futures, said that while the numbers were "not terrible," they were "not great" either and might mean that the US Federal Reserve could halt interest rate increases early next year.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Gold is now in wait-and-see mode, and a drop in bond yields could prompt some strength in bullion, added Haberkorn.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Silver eased 0.7 per cent to $24.48 per ounce, having climbed to a more than one-month high on Wednesday. Platinum fell 0.8 per cent to $966.05 but was headed for its second consecutive monthly gain.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=6 colspan=2 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:7.2pt'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td></tr><tr><td width=881 colspan=5 style='width:661.0pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><strong><span style='font-family:"Verdana",sans-serif;color:#345883;mso-fareast-language:EN-US'>INVESTORS DIARY 2023</span></strong><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p></o:p></span></p></td><td width=6 colspan=2 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p></td></tr><tr style='height:3.25pt'><td width=221 style='width:165.7pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Company</span></b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p></o:p></span></p></td><td width=157 style='width:117.8pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Event</span></b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p></o:p></span></p></td><td width=327 style='width:245.25pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Venue</span></b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Date & Time</span></b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p></o:p></span></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr style='height:3.25pt'><td width=221 valign=top style='width:165.7pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=157 style='width:117.8pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=327 style='width:245.25pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=175 valign=top style='width:131.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr style='height:3.25pt'><td width=221 valign=top style='width:165.7pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=157 style='width:117.8pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=327 style='width:245.25pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=175 valign=top style='width:131.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr style='height:3.25pt'><td width=221 valign=top style='width:165.7pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=157 style='width:117.8pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=327 style='width:245.25pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=175 valign=top style='width:131.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr style='height:3.25pt'><td width=221 valign=top style='width:165.7pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#D9D9D9;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><b><span style='font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p></td><td width=157 style='width:117.8pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#D9D9D9;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='mso-margin-top-alt:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:39.6pt;margin-bottom:.0001pt;line-height:105%'><b><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p></td><td width=327 style='width:245.25pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#D9D9D9;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='mso-margin-top-alt:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:39.6pt;margin-bottom:.0001pt;line-height:105%'><b><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p></td><td width=175 valign=bottom style='width:131.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#D9D9D9;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='mso-margin-top-alt:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:39.6pt;margin-bottom:.0001pt;line-height:105%'><b><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'><o:p> </o:p></span></b></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr style='height:3.25pt'><td width=378 colspan=2 valign=top style='width:10.0cm;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='mso-margin-top-alt:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:39.6pt;margin-bottom:.0001pt;line-height:105%'><b><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Counters trading under cautionary<o:p></o:p></span></b></p></td><td width=327 style='width:245.25pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='mso-margin-top-alt:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:39.6pt;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=175 valign=bottom style='width:131.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='mso-margin-top-alt:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:39.6pt;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr style='height:3.25pt'><td width=378 colspan=2 valign=top style='width:10.0cm;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=327 style='width:245.25pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=175 valign=bottom style='width:131.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr style='height:3.25pt'><td width=378 colspan=2 valign=top style='width:10.0cm;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>CBZH<o:p></o:p></span></p></td><td width=327 style='width:245.25pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>GetBucks<o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>EcoCash<o:p></o:p></span></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr style='height:3.25pt'><td width=378 colspan=2 valign=top style='width:10.0cm;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Padenga<o:p></o:p></span></p></td><td width=327 style='width:245.25pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Econet<o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>RTG<o:p></o:p></span></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr style='height:3.25pt'><td width=378 colspan=2 valign=top style='width:10.0cm;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Fidelity<o:p></o:p></span></p></td><td width=327 style='width:245.25pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>TSL<o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>FMHL<o:p></o:p></span></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr style='height:3.25pt'><td width=378 colspan=2 valign=top style='width:10.0cm;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>ZBFH<o:p></o:p></span></p></td><td width=327 style='width:245.25pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=175 valign=bottom style='width:131.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr style='height:99.35pt'><td width=880 colspan=4 style='width:660.25pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:99.35pt'><p class=MsoNormal style='line-height:106%;background:white'><i><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'>Invest Wisely!</span></i><span style='mso-fareast-language:EN-US'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><b><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'>Bulls n Bears </span></b><span style='mso-fareast-language:EN-US'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'> </span><span style='mso-fareast-language:EN-US'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'>Cellphone:     </span><span style='mso-fareast-language:EN-US'><a href="tel:%2B263%2077%20344%201674" target="_blank"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black'>+263 77 344 1674</span></a></span><span style='mso-fareast-language:EN-US'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'>Alt. Email:      </span><span style='mso-fareast-language:EN-US'><a href="mailto:info@bulls.co.zw"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif'>bulls@bullszimbabwe.com</span></a></span><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'>  </span><span style='mso-fareast-language:EN-US'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'>Website:        </span><span style='mso-fareast-language:EN-US'><a href="http://www.bullszimbabwe.com"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif'>www.bullszimbabwe.com</span></a></span><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'>  </span><span style='mso-fareast-language:EN-US'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'>Blog:           </span><span style='mso-fareast-language:EN-US'><a href="http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw%2Fblog&sa=D&sntz=1&usg=AFQjCNFoIy6F9IXAiYnSoPSgWDYsr8Sqtw" target="_blank"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black'>www.bullszimbabwe.com/blog</span></a></span><span style='mso-fareast-language:EN-US'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'>Twitter:         @bullsbears2010</span><span style='mso-fareast-language:EN-US'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'>LinkedIn:       Bulls n Bears Zimbabwe</span><span style='mso-fareast-language:EN-US'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'>Facebook:     </span><span style='mso-fareast-language:EN-US'><a href="http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimbabwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA" target="_blank"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black'>www.facebook.com/BullsBearsZimbabwe</span></a></span><span style='mso-fareast-language:EN-US'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%'><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-US'>Skype:         Bulls.Bears </span><span style='mso-fareast-language:EN-US'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%'><span style='mso-fareast-language:EN-US'><img border=0 width=278 height=115 id="_x0000_i1028" src="cid:image001.png@01D9DC9C.AF870290"><!--[if gte mso 9]><xml>
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</xml><![endif]--></span><span style='mso-fareast-language:EN-US'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%'><span style='mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm;height:99.35pt'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr><td width=880 colspan=4 valign=top style='width:660.25pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#1F497D;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><i><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></i></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr><td width=880 colspan=4 valign=top style='width:660.25pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#1F497D;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><i><span style='font-size:7.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:white;mso-fareast-language:EN-US'>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.</span></i><i><span style='font-size:7.0pt;line-height:105%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p></o:p></span></i></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr><td width=880 colspan=4 valign=top style='width:660.25pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><i><span lang=EN-GB style='font-size:7.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:white;mso-fareast-language:EN-US'><o:p> </o:p></span></i></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr><td width=880 colspan=4 valign=top style='width:660.25pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-size:7.0pt;line-height:105%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>(c) 2023 <b>Web</b>:</span><span style='mso-fareast-language:EN-US'><a href="http://www.bullszimbabwe.com"><span style='font-size:7.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'> www.bullszimbabwe.com </span></a></span><b><span style='font-size:7.0pt;line-height:105%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'>Email:</span></b><span style='font-size:7.0pt;line-height:105%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> </span><span style='mso-fareast-language:EN-US'><a href="mailto:info@bulls.co.zw"><span style='font-size:7.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'>bulls@bullszimbabwe.com</span></a></span><span style='font-size:7.0pt;line-height:105%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <b>Tel:</b> +263 4 2927658 <b>Cell:</b> +263 77 344 1674<o:p></o:p></span></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr><td width=880 colspan=4 valign=bottom style='width:660.25pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-left:39.6pt;line-height:105%'><span style='font-size:7.0pt;line-height:105%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'><o:p> </o:p></span></p></td><td width=6 colspan=2 style='width:4.45pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-US'> <o:p></o:p></span></p></td><td style='border:none;padding:0cm 0cm 0cm 0cm' width=1><p class='MsoNormal'> </td></tr><tr height=0><td width=221 style='border:none'></td><td width=157 style='border:none'></td><td width=327 style='border:none'></td><td width=175 style='border:none'></td><td width=1 style='border:none'></td><td width=5 style='border:none'></td><td width=1 style='border:none'></td></tr></table></div><p class=MsoNormal style='margin-left:36.0pt'><o:p> </o:p></p><p class=MsoNormal style='margin-left:36.0pt'><span style='mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>