Story of the Day:
In the first week of August bond trading on the Lusaka Stock Exchange we have yet again another mundane week as there where absolutely no bonds traded throughout the week, we are not quite certain the cause behind the lack of trades on the bond market. The equities market eclipsed the bond market with a score of 100%. Read more
Local Business and Finance Sponsored By Liquid Intelligent Technologies
Zambia’s sovereign dollar bonds jumped nearly 2 cents on Monday after opposition leader opposition leader Hakainde Hichilema secured a landslide election win in the country’s presidential ballot. Read more: Yahoo Finance
The Mobile Money Business Association of Zambia has attributed the growth of the mobile banking sector, to its convenience. Association President, Pamfred Hasweeka says the convenience of mobile banking is a key driver to people’s motivation to use mobile money transactions. Read more: ZNBC
National Pension Scheme Authority (NAPSA) Head Corporate Affairs Ceohas Sinyangwe says the authority credited the first accounts of eligible former Roan Antelope Mining Corporation PLC (RAMCOZ) employees by midday today. Mr. Sinyangwe says the payment process is ongoing until all eligible members are paid. Read more: ZNBC
The Rural Electrification Authority (REA), a Government special purpose vehicle established in 2003 to drive the rural electrification agenda in Zambia, has continued to improve the lives of many rural dwellers. Read more: Zambia Daily Mail
International Business and Finance
Japan rebounded faster than expected from its pandemic-driven slump in the run-up to the Tokyo Olympics. Official figures show the world’s third-largest economy grew at twice the rate forecast in April to June. Preliminary data show Japan’s gross domestic product (GDP) grew by an annualised 1.3% in the second quarter of the year. That came after a 3.7% slump in the previous three months. Read more: BBC News
Binance ranks Nigeria as the leading country per capita for Bitcoin and cryptocurrency adoption in the world. In a recent survey that evaluated dozens of countries according to crypto usage, Nigeria ranks 1st as the country with the highest crypto adoption in the world. Read more: Business Insider
China’s worst coronavirus outbreak in a year has authorities taking dramatic measures to stamp out new infections. But while locking down cities, canceling flights and suspending trade may bring the virus back under control, those actions risk stalling an already precarious recovery. Goldman Sachs analysts forecast China’s GDP to grow by just 2.3% in the third quarter from the previous quarter — dramatically lower than the 5.8% increase they originally expected. Read more: CNN
Futures contracts tied to the major U.S. stock indexes slipped early Monday morning as the S&P 500 hovered in record territory after last week’s modest gains. Futures linked to the Dow Jones Industrial Average fell 71 points. Those tied to the S&P 500 and Nasdaq 100 also traded in negative territory. Read more: CNBC
Bitcoin’s rise helped push the value of the entire cryptocurrency market above $2 trillion on Saturday for the first time since mid-May, according to data from CoinMarketCap which tracks the prices of digital coins. Read more: CNBC
Capital Markets Report Sponsored By ZCCM-IH
In 20 trades recorded on Wednesday, 14,907 shares were transacted resulting in a turnover of K18,426. Trading activity was recorded in AECI, Lafarge and Zanaco. The LuSE All Share Index (LASI) maintained its close of 4,662.80 points, as there were no share price movements. The market closed on a capitalization of K61,090,615,597 including Shoprite Holdings and K26,307,930,157 excluding Shoprite Holdings.
Chart of the Day: