Story of the Day:
In the first week of 2020, the corporate bond market continues with its dominance over the equities market scoring 100% of the sales in the Zambian capital markets. Read more
Local Business and Finance
Factory activity in Africa’s red metal producer, Zambia, slid sharply into contraction as purchasing Managers Index (PMI) readings headlined 46.9 from 48.7 in November. Read more: The Business Telegraph
Electricity generation at the ZESCO Victoria Falls Power Station in Livingstone has now increased to 80 Mega Watts from 44 megawatts in October last year. Read more: ZNBC
The Mine Workers Union of Zambia Milling plant has reduced the price of mealie from 185 to 130 Kwacha. Read more: ZNBC
President Edgar Lungu has launched the Cassava Outgrower scheme for the US$190m Sunbird Bioenergy refinery in Kawambwa district. Read more: Lusaka Times
International Business and Finance
Global economic growth is likely to be only slightly faster this year than the weak performance seen in 2019, according to a World Bank forecast. Read more: BBC News
Some of Wall Street’s biggest banks have stepped up their research into quantum computing, signalling growing confidence that recent breakthroughs in the field have laid the foundation for the first practical applications of the revolutionary new computing technology. Read more: Financial Times
For the first time, Tesla Inc’s stock market value has eclipsed the combined values of General Motors Co and Ford Motor Co. Read more: Reuters
Microsoft stock has higher to go even after its stunning recent rally, says Morgan Stanley. The company’s shares have risen more than 50% over the past year. Read more: Barron’s
European Central Bank President Christine Lagarde used her first public remarks of 2020 to push for greater coordination between the region’s policy makers, arguing that a joint fiscal push would help jump-start the sluggish economy. Read more: Bloomberg
Boeing tumbled as much as 2.3% on Wednesday, erasing about $4.3 billion of the firm’s market value in the wake of a fatal 737 crash in Iran. Read more: Business Insider
Capital Markets Report
In 6 trades recorded yesterday, 199 shares were transacted, yielding a market turnover of K247. There were no share price movements. Trading activity was recorded in Copperbelt Energy Corporation. The LuSE All Share Index (LASI) maintained its close of 4,260.60 points. The market closed on a capitalization of K56,539,305,418 including Shoprite Holdings and K22,300,099,438 excluding Shoprite Holdings.
Chart of the Day: