Story of the Day:
352 trades were recorded in the month of November, a total of 10,937,526 shares were transacted on the equities market, resulting in a market turnover of K41,995,001. The LuSE All Share Index (LASI) closed the month at 4,259.02 points, decreasing by 1.65% from its close in October. The market closed on a capitalisation of K56,533,000,000 including Shoprite Holdings and K22,293,000,000 excluding Shoprite Holdings. Shoprite Holdings is a dual listed Security. The annual rate of inflation for November 2019 increased to 10.8% from 10.7% Lastly, bonds of total face value of K106,607,239 were transacted in 51 trades, resulting in a Bond turnover of K70,521,091 while the market recorded a net outflow of USD 3,551.
Local Business and Finance
The African Development Bank (AfDB) has lifted sanctions imposed on Zambia effective 15th December, 2019 following the payment of loan interest arreas of $1.4m. Read more: Zambian Observer
The currency in Africa’s red metal producer, Zambia, extended its losing streak on Monday 30 Dec. as Dollar liquidity dried up in the financial markets. Read more: The Business Telegraph
Israelis have made progress in setting up base in Pambashe Constituency of Kawambwa district for the construction of a farm block and agricultural training centre. Read more: Zambia Reports
The European Investment Bank (EIB) has disbursed 21.9 million Euros to clear contractor arrears for works done on the Great East Road between Luangwa Bridge and Mwami Border Post in Eastern Province. Read more: ZNBC
International Business and Finance
Uganda said it plans to borrow 6.9 trillion shillings ($1.89 billion) from external lenders in the 2020/2021 (July-June) fiscal year to partly finance its budget, which could come under pressure as veteran leader Yoweri Museveni seeks re-election. Read more: Reuters
The White House’s trade adviser on Monday said the U.S.-China Phase 1 trade deal would likely be signed in the next week, but said confirmation would come from President Donald Trump or the U.S. Trade Representative. Read more: Reuters
The world will face irreversible heating unless firms shift their priorities soon, the outgoing head of the Bank of England has told the BBC. Mark Carney said the financial sector had begun to curb investment in fossil fuels – but far too slowly. Read more: BBC
Tesla’s stock fell 4% Monday after an analyst said the company will miss its sales target in the fourth quarter. The analyst offered an even more dire forecast: Tesla’s shares could be cut in half next year. Read more: CNN
Gold prices clinched a 5-day win streak, its longest in about 6 months, while settling near a three-month high as investors got ready for the end of 2019 with one day remaining in trade. Read more: Market Watch
Shares of Apple Inc. rose 0.5% toward a record high in afternoon trading Monday, to buck the selloff in the broader stock market, as the technology giant extended its big lead as the best performer this year among Dow Jones Industrial Average components. Read more: Market Watch
Capital Markets Report
There were no trades yesterday. The LuSE All Share Index (LASI) maintained it previous closes at 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: