Story of the Day:
The appointment of Barnaby Mulenga will be announced and his position on the Board of ZCCM IH Group ratified by shareholders when the group of companies hosts its next annual general meeting in mid-January 2020, according to a statement from the Group. Read more
Local Business and Finance
Energy Minister Matthew Nkhuwa says Maamba Collieries is now feeding 135 megawatts of power into the national grid. Read more: Zambian Observer
With little dollar appetite for energy and agriculture funding which have been the biggest drivers of market appetite, dollar conversions by miners to meet monthend perks extended Kwacha bulls into Christmas eve. Opening at 13.25/13.45 on the interbank on 24 December, the Kwacha rallied to close at 12.95/13.15. Read more: The Business Telegraph
Copper export earnings have this year declined by 22% to US$2.8 billion from US$3.5 billion, following a drop in both export volumes and copper prices. Read more: Zambia Daily Mail
The Ministry of Finance has started processing payment of 1.4 Million United States dollars in loan repayment to the African Development Bank. Read more: ZNBC
The Presidential Empowerment Fund has set aside half a million kwacha to empower thousands of marketeers at Chisokone market in Kitwe. Read more: ZNBC
International Business and Finance
Global stock markets have been on a torrid run in 2019, adding more than $17 trillion in total value, according to Deutsche Bank calculations. Read more: CNBC
Shares of Nissan fell nearly 2.8% in Tokyo on Wednesday after the Japanese automaker announced that a top executive will leave. Read more: CNN
Travis Kalanick is stepping off of the board of Uber Technologies, the ride-sharing company he co-founded ten years ago. Read more: Barron’s
South Africa published a long-anticipated draft of oil and gas legislation that will give the state a 20% carried interest in exploration and production rights, with the aim of increasing development of the industry. Read more: Bloomberg
President Donald Trump said on Tuesday he and Chinese President Xi Jinping will have a signing ceremony to sign the first phase of the U.S.-China trade deal agreed to this month. Read more: Reuters
Capital Markets Report
There were no trades yesterday. The LuSE All Share Index (LASI) maintained it previous close of 4,264.51 points. The market closed on a capitalization of K56,516,055,827 including Shoprite Holdings and K22,276,849,847 excluding Shoprite Holdings.
Chart of the Day: