Story of the Day:
Mining commerce is alive! This is part of what the annual Mining Indaba, currently going on at the illustrious Cape Town International Convention Center seeks out to achieve. Read more
Local Business and Finance Sponsored By Liquid Telecom
One year treasury bills were repriced 24 basis points higher to 28.24% on Thursday government security auction. With K1.3billion of market liquidity into the sale, Bank of Zambia was able to raise K719million in cash terms a better outcome that the first two sales of the year. Read more: The Business Telegraph
Lusaka Securities Exchange (LuSE) listed Standard Chartered Bank’s FY19 after tax earnings slid 55.9% to K117.8million on a decline in income growth and widening impairments. Read more: The Business Telegraph
Zambia is opening for more investments in its mining industry in order to foster the growth of the industry, a senior mining official said on Monday. Read more: China.org
The World Bank has called on Zambia and African countries to prioritise addressing the deteriorating food security situation by leveraging science and digital technology to adapt agriculture to climate change. Read more: Zambia Daily Mail
KMPG Featured Article
Inward Foreign Direct Investment (FDI) and the effects it has on the host country has been the subject of debate over the years, producing a wide range of empirical results in academic literature with little convergence whereas policymakers generally accept that inward Forward Direct Investment is valuable to their economy. Read more
International Business and Finance Sponsored By Royal Air Charters
Fears over the coronavirus triggered a sharp fall in Chinese shares when the market reopened after the Lunar New Year holiday. The Shanghai Composite index closed nearly 8% lower, its biggest daily drop for more than four years. Read more: BBC News
The pound has fallen in value as comments from Prime Minister Boris Johnson renewed concerns the UK faces leaving the EU without a trade deal. Read more: BBC News
Chinese oil demand has fallen by about 3 million barrels per day, a 20% decline, as coronavirus weighs on the economy. It’s likely the largest hit to demand since the global financial crisis in 2008, and the fastest since the September 11 attacks in 2001. Read more: Business Insider
Shares of Tesla soared 19.9% on Monday after Argus Research raised its price target to $808 from $556 and short-sellers scrambled to catch up to the stock. The move was the biggest one-day jump since May, 2013. Read more: CNBC
Alphabet Inc’s new Chief Executive Sundar Pichai unveiled sales figures that investors have long demanded, but shares fell 5% as Google’s advertising business and the new data about YouTube and Google Cloud broadly disappointed. Read more: Reuters
Guinea has set a new economic growth rate of 8% in 2020, after a fairly satisfactory economic performance in 2019. Read more: Africa News
Capital Markets Report Sponsored By ZCCM-IH
In 23 trades recorded yesterday, 16,978 shares were transacted, yielding a market turnover of K45,069. A share price gain of K0.01 was recorded in Standard Chartered Bank Limited. Trading was also recorded in AEL Zambia, Airtel, CEC Zambia, and Lafarge. The LuSE All Share Index (LASI) closed at 4,255.55 points, 0.09% up from its previous close of 4,251.54 points. The market closed on a capitalization of K56,516,311,713 including Shoprite Holdings and K22,277,105,733 excluding Shoprite Holdings.
Chart of the Day: