Story of the Day:
In the second week of January 2022 trading on the Lusaka Stock Exchange, twelve companies’ securities recorded trades with Zambia Consolidated Copper Mines as the highest priced security in comparison to week two of January 2021 with six companies and Zambia Sugar as the highest priced. Read more
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Zambia’s creditors would have to take losses of about two-thirds if the country is to meet the International Monetary Fund’s requirements for a debt restructuring, according to a study by groups advocating for debt forgiveness. Read more: Bloomberg
Government has collected over K7.35 billion toll fees since the launch of the National Road Tolling Programme (NRTP) in 2013, Ministry of Infrastructure, Housing and Urban Development Permanent Secretary Danny Mfune has said. Read more: Daily Mail Zambia
Standard Chartered Bank Zambia has saved 70 percent of electricity and water bills following construction of the green building energy-efficient office complex, which has been installed with solar panels and water recycling and purification facilities. Read more: Zambia Daily Mail
International Business and Finance
The rising cost of living and squeeze on living standards will not ease until next year, the governor of the Bank of England has said. Andrew Bailey said many people in the UK faced a “difficult period” ahead. It comes after the Bank increased interest rates from 0.25% to 0.5% on Thursday and said that it expected prices to climb faster than pay. Read more: BBC News
Amazon on Thursday said revenue climbed 9% in the fourth quarter and the company reported a gain of almost $12 billion from its investment in electric vehicle company Rivian. Amazon shares popped as much as 14% in extended trading. Should the stock sustain this rally on Friday, it would be the biggest one-day gain since 2012. Read more: CNBC
Stock futures rose in early morning trading Friday as investors digested a slew of corporate earnings reports after the Nasdaq Composite posted its worst day in more than a year. Futures on the Dow Jones Industrial Average gained 205 points, or 0.59%. S&P 500 futures added 1.19%, and Nasdaq 100 futures rallied 2%. Read more: CNBC
Amid the news that Kenya Airways is in the process of restructuring its debts, Business Insider Africa has gathered that the Kenyan Government plans to inject the sum of $176 million in the struggling state-owned airline. Read more: Business Insider
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In 35 trades recorded yesterday, 20,163 shares were transacted resulting in a turnover of K19,860.73. Share price gains were recorded in British American Tobacco Zambia of K0.02 and in Standard Chartered Zambia of K0.15. Trading activity was also recorded in Bata, Copperbelt Energy Corporation, First Quantum Minerals Chilanga Cement, Investrust, Madison Financial Services, PUMA, Standard Chartered Zambia, Zambia Breweries, ZAMEFA, ZAFFICO, Zanaco and in CEC Africa on the quoted tier. The LuSE All Share Index (LASI) closed at 6,359.56 points, -0.90% up from its previous close of 6,416.86 points. The market closed on a capitalization of K68,741,420,469 including Shoprite Holdings and K33,958,735,029 excluding Shoprite Holdings.