As we anticipated the fourth week of July 2020 bond trading on the LuSE would be the turn around week for the equities market as it recorded a score of 18% to 82% on the bond market. Although, this score is not the best we’ve seen in comparison to the penultimate weeks in the previous months. It is just as significant, as it is the best we’ve seen in the month of July hoping the final week will hold much glory.
Equity Market Update
In the week ended 24th July 2020, a total of 1,112,832 shares were transacted in 89 trades, yielding a market turnover of K7,414,098. Trading activity was recorded in BATA, CEC ZAMBIA, LAFARGE, MADISON FINANCIAL SERVICES, STANDARD CHARTERED ZAMBIA, ZAMBEEF, ZAMBIA BREWERIES, ZANACO, ZAMBIA SUGAR and CEC AFRICA on the quoted tier. The Index (LASI) closed at 3,837.54 points. The market closed on a capitalization of K55,523,951,222 including Shoprite Holdings and K21,284,745,242 excluding Shoprite Holdings.
Bond Market Update
During the week, bonds of total face value of K55,068,000 were transacted in 40 trades, yielding a market value sales of K34,533,770.
MADISON FINANCIAL SERVICES PLC
Shareholders are referred to the Further Cautionary Announcement issued on 19 May 2020 wherein the Board of Directors of Madison Financial Services PLC (“the Board”) (“MFS” or “the Company” or “the Group”) informed the shareholders and the market that the Board and Management of MFS has a general mandate to explore and identify specific assets that would be earmarked and considered for disposal by the Company in accordance with the LuSE Listing Requirements.