Story of the Day:
Three weeks into 2021 bond trading on the LuSE, the bond market completely dominates the equities market recording a 100% to 0% on the equities market which is identical to week 3 of 2020, there was minimal trading activity on the equities’ market as majority of the companies securities continue to record negative earnings. Read more
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Government is in the process of licensing a fourth mobile operator to enhance competition in the telecommunications sector. Transport and Communications Minister Mutotwe Kafwaya says the move is because government has prioritized the growth of the ICT sector. Read more: ZNBC
First Quantum Minerals (FQM) Ltd recorded its highest ever annual copper production of 779,000 tonnes in the fourth quarter of last year. The high production of copper is partly attributed to its operations at Sentinel mine in Zambia. Read more: ZNBC
Stanbic Bank has unleashed a very important card under its sleeves after opting for an Artificial Intelligence (AI) client support solution across social media and chat platforms. The solution will provide real time 24/7 support across a range of frequently asked question (FAQs) on mobile banking, insurance products, credit, online banking, and point of sale (POS) machines. Read more: The Business Telegraph
The Zambian government said that it would take advantage of the forthcoming Global Agro Business Forum to be hosted by Brazil to showcase the country’s agricultural potential. Read more: News Ghana
The Zambian government investment agency on Friday hailed a partnership with a Chinese firm that will become the country’s first manufacturer of sanitary ware. Read more: News Ghana
A rally in the price of copper globally is a major boost for Zambia in its efforts to revive the economy impacted by the coronavirus (Covid-19) and drought. Read more: The Herald
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Tesla reported record deliveries in the fourth quarter, boosted by increased demand for electric vehicles. But its shares fell in after-hours trading after profit fell short of analyst expectations. Net income rose to $903m from $386m last year, falling short of average analyst expectations for a $1.08bn quarterly profit. Read more: BBC News
Apple sales have hit another record, as families loaded up on the firm’s latest phones, laptops and gadgets during the Christmas period. Sales in the last three months of 2020 hit more than $111bn – up 21% from the prior year. Read more: BBC News
The US Federal Reserve left interest rates unchanged Wednesday and assured investors that there are no near-term plans to raise them. Interest rates are expected to stay at current record lows for the foreseeable future to facilitate this recovery, and the central bank isn’t concerned that inflation pressure will get in the way of that. Read more: CNN
Facebook said on Wednesday that it posted a profit of $11.2 billion in the final three months of last year, an increase of more than 50% from the year prior. Facebook’s revenue rose 33% to roughly $28 billion during the quarter, showing the durability of its core advertising business despite the pandemic. Read more: CNN
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In 9 trades recorded yesterday, 47,429 shares were transacted yielding a market turnover of K96,765. Trading activity was also recorded in Airtel, Lafarge, PUMA and Standard Chartered Zambia. The LuSE All Share Index (LASI) maintained its close at 3,912.33 points, as there were no share price movements. The market closed on a capitalization of K57,358,966,682 including Shoprite Holdings and K23,119,760,702 excluding Shoprite Holdings.
Chart of the Day: