Story of the Day:
In a magnificent turn of events, the final week of May 2020 bond trading on the LuSE has closed the month of May with a bang. For the very first time this year we see the equities market finally turn around as it recorded a staggering score of 63% to 37% on the bond market. Hoping this is the kick start the equities market needed to keep the ball rolling and hold its glory. Read more
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Zambia’s Copperbelt Energy Corp (CEC) will stop supplying power to Vedanta’s local unit Konkola Copper Mines (KCM) from Monday, it said after talks on an extension to their supply agreement broke down over debt owed to CEC. Read more: Reuters
Zambia on Friday launched an online trade portal in a move aimed at facilitating access to information on merchandise and non-merchandise trade between the southern African nation and other countries. Launching the Zambia Trade Information Portal in the capital Lusaka, Commerce, Trade and Industry Minister Christopher Yaluma said the portal is a credible source of trade statistics on Zambia and is expected to position the country as one of the countries that are open for business. Read more: APA News
The existing good bilateral relations between China and Zambia are witnessing an increase in Chinese investment in Zambia, according to Wang Xin, the Zambia China Association (ZCA) Copperbelt branch president. Wang said there has been intensified marketing of Zambia in China as an investment destination and Zambia’s political stability has resulted in increased Chinese investment flow into the southern African country. Read more: Xinhua
Zambia has for the second consecutive month recorded a trade surplus valued at K2.2 billion in April 2020, up from K359 million recorded in March 2020, indicating a 521% increase. The trade surplus means that Zambia exported more than it imported in the months of March and April 2020. Read more: Zambian Business Times
The Kalumbila Multi-purpose Cooperative Society Limited has urged Zambians to come on board and buy shares in the Gold mine which they have acquired in North Western Province. Read more: ZNBC
International Business and Finance
COVID-19 is skewing economic data, meaning policymakers will struggle to correctly assess the damage done by the pandemic and type of recovery needed, the International Monetary Fund said this week. Read more: Business Insider
In the face of a global recession after , China looks set to be one of the few countries that will expand, economically and politically, analysts say. Read more: CNBC
Dubai’s long-haul carrier Emirates said Sunday it fired an undisclosed number of employees as the coronavirus pandemic has halted global aviation, becoming the latest Mideast airline to shed staff over the outbreak. Read more: Japan Today
The U.K. government is preparing to unveil an economic stimulus package in July as it steps up attempts to lessen the depth of the recession caused by the coronavirus pandemic, the Financial Times reported, citing unidentified government officials. Read more: Bloomberg
Capital Markets Report Sponsored By ZCCM-IH
In 29 trades recorded on Friday, 7,472 shares were transacted yielding a market turnover of K15,739. Trading activity was recorded in AEL Zambia, Copperbelt Energy Corporation, Lafarge and ZCCM. The LuSE All Share Index (LASI) maintained its close at 4,024.34 points, as there were no share price movements. The market closed on a capitalization of K56,336,993,780 including Shoprite Holdings and K22,097,787,800 excluding Shoprite Holdings.
Chart of the Day: