Weekly Capital Market Report (6th to 10th July 2020)
Economy, Opinion

In the second week of July 2020 trading on the LuSE, the equities market was completely dominated by the bond market. Scoring a 100% on the bond market.

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Equity Market Update

In the week ended 10th July 2020, a total of 25,538 shares were transacted in 22 trades, yielding a market turnover of K26,104. Trading activity was recorded in AEL ZAMBIA, CEC ZAMBIA, LAFARGE and ZANACO. The Index (LASI) closed at 3,915.55 points. The market closed on a capitalization of K55,863,479,239 including Shoprite Holdings and K21,624,273,259 excluding Shoprite Holdings

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Bond Market Update

During the week, bonds of total face value of K57,945,000 were transacted in 17 trades, yielding a market value sales of K33,693,000.

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Week one of July 2020 Bond trading has been the best week of the Month thus far.

Important announcements   

First Quantum Minerals Limited

First Quantum Minerals Ltd. (“FQM” or the “Company”) announces that Cobre Panama can resume full production. The Company has received notice of Resolution No. 1651, dated July 03, 2020, issued by the Ministry of Health of the Republic of Panama (“MINSA”) lifting the temporary suspensions at its Panamanian subsidiary, Minera Panama, S.A. Cobre Panama has been in Preservation and Safe Maintenance mode since April 6, 2020. The Company will implement a reopening plan which provides for a phased increase of onsite personnel while production is ramped up to an 85 million tonnes per annum annualized throughput rate.

 

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