HomeFriday 3 March 2023

Friday 3 March 2023

Daily Market News - 3 March 2023
The main headlines today were; ZABS Gets Accreditation Certification From SADC, Chinese Contractors To Borrow From NAPSA, WCFCB For Lusaka-Ndola Road and Bank Of Canada To Hold Rates Steady At 4.50% Through This Year Traded Stocks today were Copperbelt Energy Corporation, Zambeef and Zambia Sugar.

ZABS Gets Accreditation Certification From SADCLusaka Times

The Zambia Bureau of Standards (“ZABS”) has received an accreditation certificate from the Southern African Development Community (“SADC”) Accreditation Services.

Minister of Commerce, Trade and Industry, Chipoka Mulenga, said the certificate is internationally recognized. He said the accreditation certificate will therefore help to eliminate all the technical barriers of health, safety and competency of local products that are certified by ZABS on the international market.

Chinese Contractors To Borrow From NAPSA, WCFCB For Lusaka-Ndola RoadNews Diggers

Finance and National Planning Minister Dr Situmbeko Musokotwane has justified the intention by the Macro Ocean Investment Consortium to borrow from National Pension Scheme Authority (“NAPSA”), Workers Compensation Fund Control Board (“WCFCB”) and other financiers towards the upgrade of the Lusaka-Ndola Dual Carriageway. Macro Ocean Investment Consortium which consists of AVIC International Project Engineering Company, Zhenjiang Communications Construction Group Limited and China Railway Seventh Group Limited has engaged NAPSA and Workers Compensation Fund, among other institutions for a loan facility towards the upgrading of the 327KM Lusaka- Ndola Dual Carriageway and rehabilitation of 45KM of Masangano-Fisenge Luanshya Road.

Bank Of Canada To Hold Rates Steady At 4.50% Through This YearReuters

The Bank of Canada (“BoC”) will keep its key interest rate on hold at 4.50% for the rest of this year, according to economists polled by Reuters, who said the bank was more likely to sound a hawkish tone on March 8 than dovish as inflation remains a worry. A slowing housing market, weak business investment and consumer spending and data showing a halt to economic growth at the end of 2022 suggest 425 basis points of BoC rate hikes over the past year are starting to take hold.


Bond Trading Summary

Bond trades of face value ZMW126,943,890 were traded in 12 trades resulting in a market value of ZMW97,704,260.

Lusaka Securities Trading Summary

In 97 trades recorded today, 20,028 shares were transacted resulting in a turnover of ZMW86,299.45. A share price gain of ZMW0.35 was recorded in ATEL. A share price gain of ZMW0.02 was recorded in BATA. A share price loss of ZMW0.02 was recorded in SCBL. Trading activity was also recorded in AECI, BATZ, CECZ, ZABR, ZMBF, ZNCO, ZSUG and in CCAF on the quoted tier. The LuSE All Share Index (LASI) closed at 7,348.99 points, 0.01% up from its previous close at 7,347.93 points. The market closed on a capitalization of ZMW72,920,500,022.79 including Shoprite Holdings and ZMW38,137,814,582.79 excluding Shoprite Holdings.


More services for you