Story of the Day:
What a month January 2020 was for the Bond Market in Zambia. The opening month of Government bond trading saw week 3 being the highest performing in terms of number of trades and sales. Read more
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The Lusaka Securities Exchange (LuSE) and Association of Chartered Certified Accountants in Zambia (ACCA) have signed a Memorandum of Understanding aimed at developing the financial industry in Zambia. Read more: ZNBC
Indo Zambia bank FY19 after tax earnings ebbed an impressive 62% to K188.62million supported by 26% total income growth to K657.22million. Read more: The Business Telegraph
The securities and exchange commission has cancelled an operational license for Panex commodity exchange. Read more: The Business Telegraph
The Greece Honorary Consul General in Zambia, Michail Kroupnik, says Greece is working at furthering its cooperation with Zambia in the tourism industry. Read more: Zambia Daily Mail
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As a result of the fluctuations in the Zambian economy and the volatility of the financial performance of industries caused by aggregate shocks from macroeconomic policies, there have been many businesses in distress. Read more
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For the first time in 10 years, Africa is celebrating investment expenditure accounting for over half of the regions GDP growth. This shift could help to sustain and accelerate the future growth in Africa, as well as increasing its productive base and workforce productivity. Read more: Africa Business Chief
The UK announced that starting in 2035, there will be a ban on the sale of petrol and diesel cars. Read more: Yahoo
The market is currently “piled up” in what history shows is a loss-making trade, according to one of JPMorgan’s top stock pickers. Read more: CNBC
The Trump administration plans to meet this month to discuss further curbing exports to China and its flagship telecoms company Huawei, two sources said, in a bid to resolve differences within the government over the possible crackdown. Read more: Reuters
Ford Motor Co. shares fell as much as 11% in the extended session Tuesday after the U.S. auto maker missed adjusted profit expectations and posted a GAAP loss for its fourth quarter. Read more: Market Watch
Shares of Tesla gained as much as 21% on Tuesday, pushing the company’s market value to more than $165 billion. Read more: Business Insider
Top White House economic aide Larry Kudlow said he expected the fallout from the coronavirus to delay—but not derail—the economic boost the U.S. anticipated from the first phase of the trade deal with China. Read more: Wall Street Journal
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In 15 trades recorded yesterday, 25,915,803 shares were transacted, yielding a market turnover of K12,958,502. Trading activity was recorded in AEL Zambia and Zanaco. The LuSE All Share Index (LASI) maintained its close of 4,255.55 points as there were no share price movements. The market closed on a capitalization of K56,516,311,713 including Shoprite Holdings and K22,277,105,733 excluding Shoprite Holdings.
Chart of the Day: