Story of the Day:
This month Netflix is packing our screens with more than 45 new titles launching on the international version of the website. Thanks again to the team in South Africa for helping us keep you guys informed on all the latest movies / series coming this May. This includes the final season of Netflix Anime Castlevania, the long awaited return of Master of None and the introduction of the recently licensed Real Housewives of New York City for the reality buffs. Read more
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Zambia’s largest indigenous bank by both asset and profitability, Zambia National Commercial Bank PLC quadrupled its first quarter after tax earnings to K208.9-million year on year while maintaining income leadership across almost all earning lines to K815.5 million. This was according to quarterly financial statements in the press for the quarter ended March 31, 2021. Read more: The Business Telegraph
Lusaka Securities Exchange listed Standard Chartered Bank Zambia’s after tax earnings for the first quarter of 2021 took a positive cue from a more positive country risk outlook for Africa’ second largest copper producer by a catapult in profitability to K150.2 million compared to its steep loss levels a year ago. Read more: The Business Telegraph
Vice President Inonge Wina has stated that the steadily rising copper prices on the international market is a good indicator for Zambia’s mining industry and plays an important role in the equation of rebooting Zambia’s economy. Read more: Zambian Business Times
Government says it is hopeful that the consultative process between government and various stakeholders for the 2022 National budget will yield positive results. Read more: Lusaka Times
International Business and Finance
South Africa’s struggling national airline South African Airways (SAA) on Friday exited a local form of bankruptcy protection called business rescue after roughly 17 months, Reuters reported. The airline was placed under administration in December 2019 and its long-standing financial woes worsened during the COVID-19 pandemic. Read more: CGTN
The eurozone’s economy has fallen back into recession as the impact of the pandemic continues to hit activity. Europe’s economies have been set back by a renewed surge in infections this year and Covid-related restrictions. The eurozone shrank by 0.6% in the January-to-March period – the second consecutive contraction, which is a widely-used definition of a recession. Read more: BBC News
The UK is about to experience its biggest economic boom since the aftermath of World War Two, according to Barclays boss Jes Staley. His upbeat assessment came as Barclays revealed its profits for the first three months of this year had more than doubled from a year earlier to £2.4bn. “We estimate the UK economy will grow at its fastest rate since 1948. That’s pretty spectacular,” he said. Read more: BBC News
U.S. stock futures moved higher in overnight trading on Sunday as investors readied for the first trading day of May. Dow futures rose about 125 points. S&P 500 futures gained 0.45% and Nasdaq 100 futures rose 0.33%. Read more: CNBC
Capital Markets Report Sponsored By ZCCM-IH
In 30 trades recorded on Friday,160,766 shares were transacted resulting in a turnover of K1,123,017.73. Trading activity was recorded in Copperbelt Energy Corporation, First Quantum Minerals, AEL Zambia and ZCCM. The LuSE All Share Index (LASI) closed at 4,109.31 points, 0% up from its previous close of 4,109.26 points. The market closed on a capitalization of K58,223,694,148 including Shoprite Holdings and K23,979,053,374 excluding Shoprite Holdings.
Chart of the Day: