Story of the Day:
In the battle of opposite, in the fourth week of April the bond market once again completely dominates the equities market recording a score of 100% to 0%, in comparison to week 4 of 2020 which recorded a 3% on the equities market to 97% on the bond market. Companies securities continue to record negative earnings. Read more
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Zambia and Botswana have signed the bilateral agreement for the operationalisation of the One-Stop Border Post ahead of the commissioning of the Kazungula bridge project by President Edgar Lungu and his Botswana counterpart Mokgweetsi Masisi. Read more: ZNBC
Now that all commercial banks have gone live on the National Financial Switch (NFS) on Automated Teller Machines (ATMs) and Point of Sale (PoS) channels, the industry intends to fight back by enhancing their automated mobile money or mobile banking offering. The banking industry mobile money and mobile banking platforms are expected to go live at the end of the second quarter of 2021. Read more: Zambian Business Times
Copper prices yesterday rose, eyeing their highest level in nearly 10 years, as a weakening dollar and supply concerns in top producer Chile boosted prices. The red metal, which is Zambia’s main source of export revenue, traded as high as US$9,617 a tonne on the London Metal Exchange. Read more: Zambia Daily Mail
INDUSTRIAL Development Corporation (IDC) Chief Executive Officer Mateyo Kaluba says the Corporation will spearhead investments into Mulungushi Textiles following a sustained approach. Responding to a query, Mateyo said the decision by the government to limit new debt had an impact on securing required capital on the Textiles. Read more: News Diggers
International Business and Finance
Google owner Alphabet saw its earnings soar in the first quarter as people stuck at home in the pandemic used more of its services. Net profit jumped by 162% to a record $17.9bn in the three months to March as advertising revenue swelled by a third. Read more: BBC News
Microsoft’s net income for the third quarter ended March 31 jumped 44% on a year ago to $15.5 billion. Revenue and adjusted earnings per share were $41.7 billion and $1.95 per share, above analysts’ estimates of $41.03 billion and $1.78 per share, according to data from Refinitiv. Read more: Yahoo Finance
Apple is expected to post stellar second-quarter results with revenues of $76.6bn that will turn the standard narrative about the company on its head. In recent years the consensus take on Apple is that the iPhone maker is pushing hard into services and software because hardware sales are already saturated. Read more: Yahoo Finance
U.S. stock futures were flat in overnight trading on Tuesday as investors digested major technology earnings and geared up for the latest Federal Reserve policy announcement. S&P 500 futures gained 0.05% and Nasdaq 100 futures rose 0.1%. Dow futures fell about 60 points. Read more: CNBC
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In 35 trades recorded yesterday, 78,951 shares were transacted resulting in a turnover of K100,779. Trading activity was recorded in Copperbelt Energy Corporation, First Quantum Minerals and Zanaco. The LuSE All Share Index (LASI) maintained its close at 4,113.54 points, as there were no share price movements. The market closed on a capitalization of K58,242,363,948 including Shoprite Holdings and K23,997,723,174 excluding Shoprite Holdings.
Chart of the Day: