Story of the Day:
In the third week of corporate bond trading, bonds of total face value of K205,692,234 were transacted in 28 trades, yielding a market value sales of K194,561,190. Read more
Local Business and Finance
Zambia will be looking to redeem its dismal bond market performance for 2019 as it attempts to sell a third of a yard (K300million) of local currency bonds on Friday 24 January. Read more: The Business Telegraph
Exploration in Zambia represents the third pillar in Castillo’s three pillar strategy to build itself into a mid-tier copper company. Read more: Proactive Investors
Zesco on Wednesday refuted reports that construction works at a power plant that was expected to boost electricity generation may stall due to financial constraints. Read more: China.org
Airtel Mobile Money Commerce Zambia Limited has no intentions of introducing automated teller machine (ATM) cards in the provision of financial services. Read more: Zambia Daily Mail
International Business and Finance
The spread of the coronavirus could negatively impact oil prices, according to a new research note from Goldman Sachs. Read more: CNN
GM and Honda unveiled the Origin, a new self-driving vehicle. The six-seat electric vehicle has no steering wheel, brake or accelerator pedals, windshield wipers or rear view mirror. Read more: CNN
Japan’s exports fell for a 13th straight month in December, hurt by U.S.-bound shipments of cars, construction and mining machinery, suggesting weak external demand is likely to remain a drag on the trade-reliant economy for a while longer. Read more: CNBC
European politicians said they are prepared to defend themselves and would retaliate against any American tariffs, after President Trump set his sights on the Continent as the next front in his global fight over trade. Read more: Wall Street Journal
South Africa’s inflation remained well below the midpoint of the central bank’s target range in December, even as the rate rose for the first time in four months. Consumer-price growth quickened to 4% compared with 3.6% in November. Read more: Bloomberg
Zimbabwe’s central bank governor said on Wednesday annual inflation was expected to sharply fall to 50% by the end of this year, as the bank left the main lending rate unchanged saying it was working to stabilise the exchange rate and prices. Read more: Reuters
Capital Markets Report
In 32 trades recorded yesterday, 6,648 shares were transacted, yielding a market turnover of K15,112. A share price loss of K0.50 was recorded in AEL Zambia. Trading activity was also recorded in Cavmont Capital Holdings Zambia, Standard Chartered Bank Limited, and Zanaco. The LuSE All Share Index (LASI) closed at 4,256.51 points, 0.06% down from its previous close of 4,258.96 points. The market closed on a capitalization of K56,522,312,910 including Shoprite Holdings and K22,283,106,930 excluding Shoprite Holdings.
Chart of the Day: