Story of the Day:
Cavmont Capital announced the exit of Johannes Swanepoel from the Bank after 12 years of service as a non-executive director on the Guy Phiri led board. Read more
Local Business and Finance
As festivities draw nigh, more and more retailers are looking to stock up on their inventory to meet Christmas demand. This is expected to add more pressure to the Kwacha as demand for foreign exchange widens. Read more: The Business Telegraph
Zambian President Edgar Lungu on Monday said his government will consider turning some of the state-owned enterprises into private hands as it believes that the private sector has a huge role to play in the diversification of the country’s economy. Read more: China.org
The Zimbabwe Miners Federation (ZMF) has signed a Memorandum of Understanding with the Small-Scale Miners Association of Zambia (SSMAZ), which will see the two countries sharing experiences on the small-scale mining sector. Read more: Chronicle
Mopani Copper Mines Plc has announced the appointment of its new chief executive officer, Nathan Bullock, who joins the company from BHP Olympic Dam Mine in Australia. Read more: News Diggers
The Consumer Unity and Trust Society (CUTS) says there is need to take advantage of the International Monetary Funds (IMF) officials’ visit this month to accelerate fiscal consolidation. Zambia has been seeking to acquire an IMF bailout of about US$1.3 billion. Read more: Zambia Daily Mail
International Business and Finance
Boeing Co on Monday said it expected U.S. regulators to approve the return to commercial service of its grounded 737 MAX jet in the coming weeks, and its shares jumped as investors grew more hopeful the planemaker had addressed software problems at the heart of two fatal crashes. Read more: Reuters
The biggest risk facing the stock market in the coming year isn’t trade jitters or the election, Deutsche Bank warns. Read more: Market Watch
The Middle East is launching a new oil benchmark to rival WTI and Brent. The Abu Dhabi National Oil Company (Adnoc) and nine of the world’s largest energy traders have partnered with the Intercontinental Exchange (ICE) to set up the world’s first Murban crude oil futures contracts. Read more: CNBC
Yields on longer-term U.S. government debt climbed above those on shorter-term Treasurys in recent weeks—a sign investors expect no immediate pullback in growth and inflation. Read more: Wall Street Journal
A doubling of pork prices last month sent Chinese consumer inflation to its highest level in nearly eight years, constraining Beijing’s ability to stimulate the economy as growth continues to slow. Read more: Wall Street Journal
A group of academic researchers has taken aim at Morningstar, the financial services giant, arguing the company is luring investors into unsuitable products by understating the riskiness of many of the funds it rates. Read more: Financial Times
Britain’s economy has grown at the slowest annual rate in almost a decade, according to official figures.
Year-on-year growth in the three months to end-September slowed to 1% from 1.3% in the second quarter, the Office for National Statistics said. Read more: BBC News
Capital Markets Report
In 5 trades recorded yesterday, 2,314 shares were transacted, resulting in a market turnover of K3,317. A share price gain of K0.01 was posted in Lafarge. Trading activity was also recorded in Copperbelt Energy Corporation. The LuSE All Share Index (LASI) closed at 4,311.14 points up by 0.01% from its previous close of 4,310.66 points. The market closed on a capitalization of K56,749,515,530 including Shoprite Holdings and K22,510,309,550 excluding Shoprite Holdings.
Chart of the Day: