Story of the Day:
With only two trading weeks remaining on the 2019 financial calendar, Corporate bonds have maintained stronger performance compared to equities in the Zambian Capital Markets. At week 3, bonds outpaced equities trade sales by 98 to 2 percentage points. Read more
Local Business and Finance
Zambia plans to make copper mining companies account for the gold they produce as it seeks to boost revenue from its mineral resources, a senior ministry of mines official said on Thursday. Read more: Reuters
November currency ‘bear’ effects were priced into the December headline inflation accelerating it to 11.7%, 90bps wider from previous month. Read more: The Business Telegraph
The Energy Regulation Board (ERB) on 26 December approved a tariff hike application by the power utility ZESCO to hike electricity pricing by an average of 106% effective January 2020. This was contained in a press release by the regulator signed by the board chairman Raymond Mpundu. Read more: The Business Telegraph
The Zambia Forestry and Forest Industries Corporation Limited (ZAFFICO) and the Industrial Development Corporation IDC have maintained that only Zambians will be allowed to buy the 40 per cent shares offloaded on the stock market. Read more: Zambian Observer
Energy Regulations Board (ERB) has adjusted upwards the fuel Pump prices with effect from Midnight tonight. Read more: Zambian Observer
UZI Zambia Limited is in the process of mobilising funds in readiness to start operations as the fourth mobile company, Ministry of Transport and Communications Permanent Secretary Misheck Lungu said. Read more: Zambia Daily Mail
Home Affairs Minister Stephen Kampyongo has clarified that the International Narcotics Control Board will regulate the export of marijuana by Zambia once the cultivation of the drug starts for medicinal purposes. Read more: Lusaka Times
International Business and Finance
The Nasdaq Composite logged its tenth record in a row on Thursday and finished above 9,000 points for the first time ever. The index closed up 0.8%. Read more: CNN
Chinese industrial companies returned to profit growth in November, in line with recovering factory production as government policies start to take effect. Read more: Market Watch
The economics profession embarked this year on a soul-searching appraisal of perceived hostility to women and minorities in its ranks, and the Federal Reserve—the nation’s largest employer of Ph.D. economists—wants to get ahead of the curve. Read more: Wall Street Journal
Energy equities are set to bottom in 2020, and that could set the stage for improved energy equity sentiment later in the year, according to a December note from Goldman Sachs. Read more: Business Insider
For the year through Tuesday’s close, Apple has gained more than 80%. It’s the best annual performance since the company’s roughly 150% gain in 2009. Read more: Business Insider
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: