Story of the Day:
The year 2020 was one to forget for most companies with regard to earnings. Covid-19 happened; a Black Swan event that very few risk managers around the globe had dared to put on their risk registers. This underperformance in earnings would in turn register on stock exchanges where these companies are listed. Read more
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The Bank of Zambia has purchased 47 kilograms of Gold from the Zambia Gold Company Limited, under ZCCM Investments Holdings. Central Bank Governor Christopher Mvunga says the recently purchased gold is currently sitting in the central bank’s vault. Read more: Lusaka Times
Zambia’s earnings from refined copper in November last year increased by 5.3 percent to K11.72 billion from K11.14 billion in October due to improved commodity prices on the international market. Read more: Zambia Daily Mail
After recording a trade surplus of K6.5 billion in October, Zambia last month registered a trade surplus of over K7.1 billion. And the inflation rate for December increased to 19.2 percent from last month’s 17.4 percent. Read more: Zambia Daily Mail
Undersubscription and underwater ‘real’ yields is the best description for Thursday December 31, treasury bill sale. With aggregate interbank liquidity north of K3.5bln, the central bank in Africa’s red metal producer Zambia sold K760.4mln ($36.0mln) worth of bills in the last treasury bill auction of the year. Read more: The Business Telegraph
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The New York Stock Exchange has reversed its decision to kick out three of China’s largest state-owned telecom companies. The exchange said late Monday that it no longer intends to delist the firms after “further consultation with relevant regulatory authorities,” and that they will continue to be listed and traded on the NYSE “at this time.” Read more: CNN
Some EU specialist online retailers have said they will no longer deliver to the UK because of tax changes which came into force on 1 January. Read more: BBC News
The International Monetary Fund (IMF), using the more reliable and now widely accepted yardstick said that Nigeria maintained its lead as the biggest economy in Africa in 2020. However, the latest IMF data ranks Nigeria as the 26th largest economy globally, with an average GDP of $442.976 billion. Read more: Business Insider
Stock futures held steady in overnight trading on Monday after the S&P 500 suffered its first decline to start a year since 2016. Futures on the Dow Jones Industrial Average rose 40 points. S&P 500 futures and Nasdaq 100 futures both gained 0.2%. Read more: CNBC
Capital Markets Report Sponsored By ZCCM-IH
In 18 trades recorded yesterday, 18,759 shares were transacted yielding a market turnover of K356,563. Trading activity was recorded in AEL Zambia, Cavmont Capital Holdings Zambia, PUMA and Zambia Sugar. The LuSE All Share Index (LASI) maintained its close at 3,912.33 points, as there were no share price movements. The market closed on a capitalization of K57,508,103,642 including Shoprite Holdings and K23,268,897,662 excluding Shoprite Holdings.
Chart of the Day: