In the tale of opposites, the forth week of April 2020 corporate bond trading, we see a replica of week one which opened up the month of April with a 97% score to a 3% on the equities market. Which is a better performance as compared to week four of March in which the bond market completely dominated the equities market with a score of 100% to 0% on the equities market.
Equity Market Update
In the week ended 24th April 2020, a total of 226,223 shares were transacted in 72 trades, yielding a market turnover of K249,017. Trading activity was recorded in AFRICA EXPLOSIVES LIMITED ZAMBIA, BRITISH AMERICAN TOBACCO ZAMBIA, CEC ZAMBIA, LAFARGE, PUMA, ZAMBEEF and ZANACO. The Index (LASI) closed at 4,145.82 points. The market closed on a capitalization of K56,864,150,163 including Shoprite Holdings and K22,624,944,183 excluding Shoprite Holdings.
A share price gain of K0.03 was recorded in LAFARGE as well as a share price gain of K0.02 was recorded in ZANACO.
Bond Market Update 24th April 2020
During the week, bonds of total face value of K11,396,000 were transacted in 6 trades, yielding a market value sales of K8,118,000.
Week two e of April 2020 bond trading has been the best performing week thus far, followed by week three there after week one leaving week four as the least week with low records.
Important announcements
First Quantum Minerals Limited
“During this unprecedented time, the Company, with the support of its long-term relationship lenders, has taken the proactive step of renegotiating the terms of the financial covenants under the loan agreement. We appreciate the flexibility and support from our lenders and their continued commitment to work with us as we navigate this current uncertainty,” said Philip Pascall, Chairman and CEO. “The amendment of the financial covenants continues management’s long held practice of proactively addressing debt compliance and managing risk in periods of uncertainty.”