Story of the Day:
15th April 2021, Lusaka, Zambia – ZCCM Investments Holdings Plc (ZCCM-IH) has continued to engage various stakeholders past the close of the Transaction on 31st March 2021 to acquire the 90% shares in Mopani Copper Mines Plc (Mopani) previously held by Carlisa on behalf of Glencore and First Quantum Minerals. Read more
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President Edgar Lungu says government plans to zero rate tax on inputs for manufacturing of fish feed. He has explained that government wants to help the fisheries sector so that it can be self sustaining and contribute to job creation in the country. Read more: ZNBC
The Competition and Consumer Protection Commission – CCPC has exclusively disclosed to the Zambian Business Times – ZBT that market prices for cement in Zambia will have to conform to the issued directive to cut cement prices by the ninth of next month (9 May 2021). Read more: Zambian Business Times
Oil Marketing Companies Association of Zambia has warned of a potential upward adjustment of fuel pump prices should the kwacha continue to depreciate without making positive gains against the United States dollar in the next 2 months. Read more: Zambian Observer
Five Zambian agri-business companies have been awarded grants, under the Enterprise Zambia Challenge Fund. The €26million project is supported by the European Union (EU) and the Zambia government. The companies awarded include Afriseed, Copperbelt Forestry, Good Nature, Alliance Ginneries and CHC Griffin. Read more: ZNBC
International Business and Finance
Netflix reported a slowdown in subscriber growth, sending its shares tumbling. About 3.98 million people signed up for Netflix between January and March, well short of the projected 6 million. Netflix shares fell 11% in after-hours trading to $489.28, wiping $25bn off the company’s market capitalization. Read more: BBC News
The UK inflation rate rose to 0.7% in the 12 months to March, up from 0.4% to February, pushed up by the increased cost of clothes, fuel and transport. The increase was slightly below economists’ forecasts, held back by lower food prices. Read more: BBC News
For decades, crude oil has been at the center of global commodities markets. Demand has served as a crucial metric of economic health, and price spikes have had major ramifications for gas-guzzling consumers. But as countries around the world try to combat the climate crisis, oil could take a backseat, while metals like copper and lithium gain prominence. Read more: CNN
With a policy change pretty much off the table this week, European Central Bank watchers will have to closely monitor finer details about its pandemic stimulus program as policymakers wait for more data before taking decisive action. Read more: CNBC
Capital Markets Report Sponsored By ZCCM-IH
In 15 trades recorded yesterday, 16,458 shares were transacted resulting in a turnover of K18,069. Share price gains were recorded in PUMA of K0.18 and in Copperbelt Energy Corporation of K0.06. Trading activity was also recorded in Zanaco. The LuSE All Share Index (LASI) closed at 4,050.57 points, down 0.04% from its previous close of 4,052.29 points. The market closed on a capitalization of K57,975,092,793 including Shoprite Holdings and K23,730,452,019 excluding Shoprite Holdings.
Chart of the Day: