Story of the Day:
The first week of 2020 on the equities market opened with four companies’ securities being traded on the LuSE. Read more
Local Business and Finance
UK-based copper-gold exploration and development company Bezant Resources has secured an extension to the initial expenditure phase for its conditional option to buy a 50% stake in a copper mining licence area, which contains the Buffalo exploration project in Zambia. Read more: Mining Technology
Zambia Chambers of Commerce and Industry (ZACCI) president Chabuka Kawesha called for increased private sector participation in the cement industry to raise competition that will effectively reduce prices of the commodity. Read more: News Diggers
Zambia’s copper sector, which dominates the country’s export economy, saw production drop in 2019 due to new mining taxes, which were also the primary cause of the drying up of investment, Zambia Chamber of Mines President Goodwell Mateyo told S&P Global Platts. Read more: Lusaka Times
Zambia National Service (ZNS) units in Luapula, Muchinga, Northern and North-Western provinces have been directed to open up more land for cultivation to increase production and contribute to national food security. Read more: Zambia Daily Mail
International Business and Finance
OPEC oil output fell in December as Nigeria and Iraq adhered more closely to pledged reductions and top exporter Saudi Arabia made further cuts ahead of a new production-limiting accord, a Reuters survey found. Read more: Reuters
Monday was a gloomy day for South Africa’s currency as the country resumed power cuts over the weekend. Read more: Africa News
Gold is a stronger hedge than oil for investors seeking safe returns amid the escalation of tensions between the U.S. and Iran, Goldman Sachs commodity strategists have suggested. Read more: CNBC
German car production fell to its lowest in almost a quarter of a century as Europe’s biggest economy suffers from the fallout of a global trade war. Read more: Bloomberg
France on Monday warned that it would retaliate if the US followed through with a proposal to slap tariffs on $2.4 billion worth of its products. Read more: Business Insider
Analysts estimate that Boeing will raise as much as $5 billion in extra debt to help cover expenses from the 737 Max disaster, The Journal reported. Read more: Business Insider
Capital Markets Report
There were no trades on yesterday. The LuSE All Share Index (LASI) maintained it previous close of 4,264.51 points. The market closed on a capitalization of K56,516,055,827 including Shoprite Holdings and K22,276,849,847 excluding Shoprite Holdings.
Chart of the Day: