Story of the Day:
Two weeks into the month of June 2021 bond trading on the Lusaka Stock Exchange, there was very little trading activity on the bond market as only one day recorded trades which was quite the opposite for the equities market as there was a significant amount of trading as Twenty-one companies securities’ recorded trades. Read more
Local Business and Finance Sponsored By Liquid Intelligent Technologies
The Energy Regulation Board (ERB) has assured that Zambia has enough fuel to last for over two weeks should borders be circumstantially closed. ERB Director General Langiwe Lungu said members of the public should not panic as the country had enough fuel in stock. Read more: News Diggers
ZCCM Investments Holdings Plc (ZCCM-IH) will develop a mining project that is expected to produce 200,000 tonnes of lead and zinc per annum in Kapiri Mposhi. According to a Zambia Environmental Management Agency environmental impact assessment report submitted for review, the firm will develop the zinc and lead mining project to take advantage of high prices on the London Metal Exchange (LME). As at June 15, 2021, zinc fetched US$2,986.30 a tonne on LME. Read more: Zambia Daily Mail
Indeni Petroleum Refinery has constituted technical teams to make proposals aimed at improving operations at the company and create more jobs for Zambians. The teams are expected to brainstorm on how Indeni can add value to its products and improve its financial viability. Indeni Petroleum Refinery managing director David Lungu said the suggestions will also include those of venturing into different business lines the company will consider investing in. Read more: Zambia Daily Mail
ZESCO Limited says the introduction of Statutory Instrument No. 24 will create a more liberalised and open electricity sector that enables players in the sector to supply electricity to any customer on agreed and transparent terms. Read more: News Diggers
International Business and Finance
The World Bank, in a report, has said that about 7 million Nigerians may have been pushed into poverty in 2020 due to the increase in prices of goods. The report said that the 7 million people might have become poor from no direct impact of Covid-19. Read more. Business Insider
ByteDance, the Chinese company behind the smash-hit video app TikTok, saw its earnings double last year. An internal memo released to staff showed that the firm’s total revenue jumped by 111% to $34.3bn for 2020. The figures underscore TikTok’s continued global popularity. Read more: BBC News
Japan’s core consumer prices grew slightly to post their first rise in more than a year in May, largely due to a rebound in energy prices. Nationwide core consumer prices, which exclude volatile fresh food costs, gained 0.1% in May from a year earlier. Read more: CNBC
U.S. stock futures were little changed in early Friday morning trade, following a two-day sell-off for the Dow in the wake of the Federal Reserve’s policy update. Futures for the Dow Jones Industrial Average gained just 12 points. S&P 500 futures and Nasdaq-100 futures both traded in mildly positive territory. Read more: CNBC
Capital Markets Report Sponsored By ZCCM-IH
In 80 trades recorded yesterday 56,674 shares were transacted resulting in a turnover of K200,774. Share price gains were recorded in AEL Zambia of K0.79 and in Lafarge of K0.02. Trading activity was also recorded in Airtel, British American Tobacco Zambia, Copperbelt Energy Corporation, First Quantum Minerals, National Breweries, Real Estate Investments Zambia, Standard Chartered Zambia, ZCCM, ZAMEFA, and Zambia Sugar. The LuSE All Share index (LASI) closed at 4,386.35 points, 0.11% up from its previous close of 4,381.74 points. The market closed on a capitalization of K59,346,206,049 including Shoprite Holdings and K25,101,565,274 excluding Shoprite Holdings.
Chart of the Day: