Daily FiZ – Thursday 18/02
Economy

Story of the Day:

In the Second  week of February  2021 trading on the LuSE, twelve companies’ securities recorded trades with ZCCM as the highest priced security in comparison to week two of February 2020 which recorded seven companies’ securities with Zambeef as its highest priced security. Read more 

Local Business and Finance Sponsored By Liquid Telecom

Zambia became the second country in the world to increase its benchmark interest rate this year as it seeks to bring down “spiraling” inflation that’s at a five-year high. The monetary policy committee lifted the rate to 8.5% from 8%, Governor Christopher Mvunga told reporters on Wednesday. Read more: Bloomberg

First Quantum Minerals sees no risk of nationalization in Zambia following the sale last month of Mopani Copper Mines to the country’s mining investment arm ZCCM-IH in a $1.5 billion deal, the Canadian miner’s chief operating officer Tristan Pascall said on Wednesday. Read more: Reuters

Zambia still intends to launch Zambia Airways despite delays in commencing operations, according to Transport and Communications Minister Mutotwe Kafwaya. Read more: CH Aviation 

Vedanta Resources has warned potential buyers of assets held in its 85%-owned Konkola Copper Mines (KCM) that any corporate activity would be “deemed inappropriate”, and that it would seek to protect its interests in Zambia and internationally. Read more: Mining Mx

International Business and Finance

Mastercard and MTN today announced a strategic partnership to enable millions of consumers in 16 countries across Africa to make global e-commerce payments safely and securely. It will  enable millions of MTN customers to pay on global online platforms with a Mastercard virtual payment solution linked to MTN MoMo wallet. Read more: Business Insider 

The Dow eked out another record high Wednesday, even as the three major stock indexes finished the day mixed. The Dow finished up 0.3%, or 90 points. The S&P 500 ended flat. The Nasdaq Composite closed down 0.6%. Read more: CNN

Amazon’s aircraft fleet is on pace to have doubled in size between May 2020 and June of this year, laying further groundwork for Amazon Air to rival the likes of carriers FedEx and UPS, according to a study. Read more: CNBC

Credit Suisse swung to a better-than-expected loss in the fourth quarter of 2020, on the back of higher provisions for legal disputes. The Swiss bank reported Thursday a net loss of 353 million Swiss francs ($392.8 million) for the fourth quarter of 2020. Read more: CNBC

Capital Markets Report Sponsored By ZCCM-IH

In 36 trades recorded yesterday, 54,262 shares were transacted yielding a market turnover of K86,610. Trading activity was recorded in AEL Zambia, Copperbelt Energy Corporation, FQM Zambia, Zanaco and Zambia Sugar. The LuSE All Share Index (LASI) maintained its close of 3,971.18 points, as there were no share price movements. The market closed on a capitalization of K57,610,286,783 including Shoprite Holdings and K23,376,515,598 excluding Shoprite Holdings.

Chart of the Day:

Powered by Financial analytics Zambia.
For any feedback on the stories captured on the Daily FiZ, email Natasha on dailyfiz@fizambia.com

Sharing is caring!

(Visited 17 times, 1 visits today)
The information contained on this website is for general information purposes only. While we endeavour to keep the information as accurate as possible, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or subject companies or matters contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
 right-arrow   right-arrow