Daily FiZ – Tuesday 12/01
Economy

Story of the Day:

Taj Pamodzi’s Earnings per Share (EPS) for the interim financials for the half-year ended 30 September 2020 are expected to be lower than the EPS of the interim financials for the half year ended 30 September 2019 by 2400%, according to a statement issued by the company. Read more 

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Management at Munali Nickel Mine in Mazabuka says robust and practical measures have been put in place to sustain production even in the face of COVID-19 challenge. Mine CEO Anton Mauve has revealed that production of nickel has been steadily increasing in the past six months with the firm recording an increase of about 20% in the production of the mineral. Read more: ZNBC

The Ministry of Tourism and Arts has signed a memorandum of understanding- MOU- with Zambia Postal Services Cooperation (ZAMPOST) aimed at promoting the growth of the tourism sector. Read more: ZNBC

The price of copper, which has since last month been on an upward trend, on Friday continued to rise, hiting US$8,229 a tonne.
Three-month copper on the London Metal Exchange (LME) rose 0.6 percentage point to US$8,229 a tonne , up by six percent on a weekly basis. Read more: Zambia Daily Mail 

Energy Minister Matthew Nkhuwa says the country should expect to see constant fuel supply on the market. Mr. Nkhuwa says this is because a number of fuel dealers have started importing fuel into the country following the removal VAT on fuel importation. Read more: Lusaka Times 

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The UK economy will “get worse before it gets better” as the country battles the pandemic, Chancellor Rishi Sunak has warned. The chancellor told MPs the new national restrictions were necessary to control the spread of coronavirus. However, he said they would have a further significant economic impact. Read more: BBC News

For the first time in eight months, the US economy saw a dip in job growth with 140,000 jobs lost in December. All of these jobs, according to an analysis from the National Women’s Law Center, belonged to women, emphasizing the disastrous impact the coronavirus pandemic is continuing to have on women in the workforce. Read more: CNBC

Thinking of investing in a cryptocurrency? Be prepared to lose all your money. That’s the message from the U.K.’s Financial Conduct Authority, which on Monday warned investments and lending products related to crypto come with “very high risks.” Read more: CNBC

A huge stock market slump on Friday cost Africa’s richest man more than N350 billion ($900 million) leaving him with a net worth of $17.5 billion as of January 10. Aliko Dangote lost $845 million on Friday, as the Shares of Dangote Cement closed with a loss, following the first tranche of the Cement behemoth’s share buyback programme. Read more: Business Insider


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There were no trades recorded yesterday. 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 K57,358,966,682 including Shoprite Holdings and K23,119,760,702 excluding Shoprite Holdings.

Chart of the Day:

For any feedback on the stories captured on the Daily FiZ, email Natasha on dailyfiz@fizambia.com

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