Story of the Day:
Investment group ZCCM IH has announced that it expects its earnings per share to be lower for the financial year ended March 2019 due to reduction in performance at KCM and impairment of receivables. Read more
Local Business and Finance
Zambia’s Kansanshi Holdings has begun arbitration proceedings against ZCCM Investments Holdings and Kansanshi Mining following a complaint from Zambian state mining company ZCCM-IH, which jointly owns Kansanshi, relating to a money transfer, a statement said on Friday. Read more: Reuters
Private enterprises in central Zambia’s Kabwe town on Saturday appealed to Chinese investors to explore the investment potential that the town offers. Read more: Xinhua
North Western Province Minister Nathaniel Mubukwanu has challenged business houses in the region to tap into the readily available markets in the neighbouring Democratic Republic of Congo – DRC and Angola. Mr. Mubukwanu says the province produces a lot of agricultural products which can be easily sold to the neighbouring countries. Read more: ZNBC
ZESCO is next week expected to start reducing the load-shedding periods to less than 12 hours from the current average of 15 hours. And one of the two machines which had developed a fault at Maamba Collieries has been repaired and has added 137 megawatts (MW) to the national grid. Read more: Zambia Daily Mail
President Edgar Lungu says there is need to expedite the implementation of the inter-governmental agreement to build electricity interconnection to the national grids of Zambia, Kenya and Tanzania. Read more: Lusaka Times
International Business and Finance
U.S. Trade Representative Robert Lighthizer said on Sunday that the phase one U.S.-China trade deal reached on Friday is “totally done,” and it will nearly double U.S. exports to China over the next two years. Read more: CNBC
The U.S. is weighing tariffs of up to 100% on European products the Trump administration previously absolved from such duties, targeting some of the euro zone’s most emblematic products, including Irish and Scotch whiskies and Cognac. Read more: CNBC
Saudi Aramco shares gained for a third consecutive day on Sunday, rising 1.63% to 37.4 Saudi riyal ($9.97), pushing the company’s value back toward the $2 trillion level it topped last week. Read more: Reuters
Senior KPMG executives have taken a £6m pay cut after a tough year in which a series of accounting controversies and sliding profits forced the Big Four firm into retreat. Read more: The Telegraph
Boeing Co. is considering either halting or further cutting production of the 737 Max amid growing uncertainty over the troubled airplane’s return to service and could disclose a decision as soon as Monday, according to people familiar with the matter. Read more: Market Watch
The longest United Nations climate talks on record have finally ended in Madrid with a compromise deal. Exhausted delegates reached agreement on the key question of increasing the global response to curbing carbon. Read more: BBC News
Capital Markets Report
In 4 trades recorded on Friday, 65,289 shares were transacted, resulting in a market turnover of K31,458. A share price loss of K0.04 was recorded in Zanaco. Trading activity was also recorded in Zambia Breweries and Zanaco. The LuSE All Share Index (LASI) closed at 4,251.10 points, -0.33% down from its previous close of 4,264.99 points. The market closed on a capitalization of K56,499,805,821 including Shoprite Holdings and K22,260,599,841 excluding Shoprite Holdings.
Chart of the Day: