Three weeks into July 2020 bond trading on the LuSE, we do not see a change in our frequent pattern of the bond market completely dominating the equities market. Hoping week four like we’ve seen in previous months the penultimate week or final week have a magnificent turn of events for the equities market. This week recorded a score of 99% on the bond market to 1% on the equities side.
Equity Market Update
In the week ended 17th July 2020, a total of 147,077 shares were transacted in 33 trades,yielding a market turnover of K130,150. Trading activity was recorded in COPPERBELT ENERGY CORPORATION, LAFARGE, MADISON FINANCIAL SERVICES, PUMA, ZANACO, ZAMBIA SUGAR and CEC AFRICA on the quoted tier. The Index (LASI) closed at 3,879.36 points. The market closed on a capitalization of K55,705,967,232 including Shoprite Holdings and K21,466,761,252 excluding Shoprite Holdings.
Bond Market Update
During the week, bonds of total face value of K21,663,000 were transacted in 16 trades, yielding a market value sales of K13,109,000.
Week one of July has been the best performing week in terms of Total Face Value, Trades and Sales.
Important announcements
CEC AFRICA INVESTMENTS LIMITED
In compliance with the disclosure requirements under the Act, CECA hereby notifies its shareholders and the market that, the Company received a letter of demand from Zambia Energy Corporation (Ireland) Limited (“ZECI”) on 3 July 2020 for repayment of a loan of principal and interest amounting to USD 15,427,263 entered into by the Company on 20 November 2014. On 10 July 2020, the Company was served with court process documents indicating that ZECI would seek to recover the debt through the courts in Mauritius