Story of the Day:
First Quantum Minerals Sentinel Mine in Kalumbila has prioritised optimisation and ensuring it has a well-coordinated workforce, which it believes is fundamental to increasing efficiency, productivity and the overall success of any business. Read more
Local Business and Finance Sponsored By Liquid Telecom
Zambia’s finance minister Bwalya Ng’andu on Friday presented a 6.31 billion kwacha ($300.26 million) supplementary budget for 2020, which he said would mostly be funded by unrealised savings from unspent provisions. Ng’andu said the additional spending would go towards things including arrears for fuel and electricity and outstanding payments for additional medical staff. Read more
Zambia’s November Purchasing Managers’ Index (PMI) of 49.3 was 0.4 points higher than Octobers 48.9 constrained by Kwacha depreciation sending selling prices higher as manufacturers passed on higher inout costs to consumers. Read more: The Business Telegraph
In the Zambia’s central bank 25th treasury bill sale, the market observed increased interest in demand for government securities in the 9month and 1year tenors. With market appetite of just under 2 Kwacha yards, the Bank of Zambia were able to sell K1.6billion worth of bills of the K1.3billion of assets on offer, of which a billion Kwacha of liquidity was housed in the tenors between 6m-1yr. Read more: The Business Telegraph
The Copperbelt Energy Corporation Plc has declared a dividend to its shareholders amounting to 2.1 US cents per share for the 2020 financial year following an improved financial performance during the second-half of this year. Read more: News Diggers
International Business and Finance Sponsored By Royal Zambian Airlines
Talks between the UK and EU are due to resume later in a final bid to agree a post-Brexit trade deal. After a weekend of tense negotiations, EU sources told the BBC an agreement on fishing was close – but this was disputed by Downing Street. Read more: BBC News
China’s exports rose at the fastest pace since February 2018 in November, by 21.1% from a year earlier, customs data showed on Monday, soundly beating analysts’ expectations for a 12.0% increase and quickening from an 11.4% increase in October. Read more: CNBC
The Secretary-General of the Africa Continental Free Trade Area (AfCFTA) Wamkele Mene called on countries in the continent to end their heavy dependence on export markets in Western countries. Read more: CGTN
The U.S. economy is primed to take big strides next year if a slew of promising coronavirus vaccines turn out to be effective, but it’s going to get worse before it gets better. Read more: Market Watch
Capital Markets Report Sponsored By ZCCM-IH
In 38 trades recorded yesterday, 7,543,879 shares were transacted yielding a market turnover of K7,649,252. Share price gains were recorded in Copperbelt Energy Corporation of K0.18 and in Zanaco of K0.01. Trading activity was also recorded in AEL Zambia and CCHZ. The LuSE All Share Index (LASI) closed at 3,847.99 points, 1.83% up from its previous close of 3,777.65 points. The market closed on a capitalization of K57,227,324,429 including Shoprite Holdings and K22,988,118,449 excluding Shoprite Holdings.
Chart of the Day: