Story of the Day:
ZCCM IH has officially advised shareholders and investors that the Board Chairperson’s appointment has been terminated, according to a statement from the investment house. Read more
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Instant loan application Lupiya has been selected for Google’s first ‘Black Founders Fund’, an initiative started by the US $2 trillion company in order to promote African founders. Lupiya became famous as the first female-led start-up to raise over $1million in investment last year. Read more: The Mast
Castillo Copper Ltd has increased its understanding of the Luanshya Copper Project in Zambia, with Induced Polarisation (IP) surveying modelled by CCZ’s consultant geophysicist identifying 14 highly prospective drill targets along a 6-kilometre strike. Read more: Proactive Investors
Zambia’s energy regulator on Wednesday refuted reports that it intends to increase the pump prices of fuel. Kasonde Nkole, acting communication officer at the Energy Regulation Board (ERB), said that contrary to reports, the regulator has no immediate plan to raise fuel prices. Read more: News Ghana
Government will facilitate a smooth passage of conducting business with Lafarge Zambia Plc by using the railway line as it moves cement for export to the Great Lakes region through Mpulungu Harbour, Minister of Transport and Logistics Frank Tayali has said. Read more: Zambia Daily Mail
International Business and Finance
Facebook has posted better-than-expected profits for the third quarter, as it continues to face bad press over leaked internal documents. The social media giant made $9bn of profit in the three months to September, up from $7.8bn last year. Read more: BBC News
Twitter lost more than half a billion dollars in the three months to September after it paid $809.5m to settle a long-running lawsuit. The social media giant was accused of misleading investors over user engagement in 2015. However despite this one-off charge, its quarterly revenue grew 37% as it managed to shrug off the impact from Apple’s privacy changes which hit rivals such as Snap and Facebook. Read more: BBC News
U.S. stock index futures were little changed during overnight trading on Tuesday after the Dow and S&P closed at record highs as earnings season continues. Futures contracts tied to the Dow Jones Industrial Average and S&P 500 were flat. Nasdaq 100 futures declined 0.09%. Read more: CNBC
Microsoft shares edged 2% higher in extended trading Tuesday after the software and hardware maker reported fiscal first-quarter earnings that exceeded analysts’ estimates. Total company revenue climbed almost 22% year over year, according to a statement. That’s the fastest growth since 2018. Revenue grew 21% in the previous quarter. Microsoft reported $20.5 billion in net income, growing 48%. Read more: CNBC
Alphabet reported profit and earnings for the third quarter that topped analysts’ estimates. The company’s shares were little changed after the report. Google’s advertising revenue rose 43% to $53.13 billion, up from $37.1 billion the same time last year and slightly higher than the prior quarter. YouTube ads rose to $7.21 billion, up from $5.04 billion a year ago. Read more: CNBC
Capital Markets Report Sponsored By ZCCM-IH
In 157 trades recorded yesterday, 836,781 shares were transacted resulting in a turnover of K974,070.58. Trading activity was recorded in CEC Africa, Copperbelt Energy Corporation, Standard Chartered Limited Zambia, Zambeef, Zanaco, ZAFFICO and Zambia Sugar. The LuSE All Share Index (LASI) remained at 4,832.46 points.
Chart of the Day:
