HomeWednesday 1 March 2023

Wednesday 1 March 2023

Daily Market News - 1 March 2023
The main headlines of the day were Zambia Attracts USD8 Billion Investment In Energy, Bola Tinubu Wins Nigeria’s Presidential Election Against Atiku Abubakar And Peter Obi and House Prices See Biggest Annual Fall In Over 10 Years. The main stocks traded were Copperbelt Energy Corporation, Puma Energy and Zambeef.

Zambia Attracts USD8 Billion Investment In EnergyDaily Mail

Zambia has attracted investment pledges in the energy sector worth USD8 billion since January, owing to President Hakainde Hichilema’s high-level engagements with fellow world leaders, says Zambia Development Agency (ZDA) Director-General Albert Halwampa. The USD8 billion solar, wind and thermal-powered projects, once actualised, will generate 7,000 megawatts (MW) of electricity and create over 10,000 jobs for the local people. Mr Halwampa said in an exclusive interview yesterday that the USD8 billion worth of investment in the energy sector an unprecedented phenomenon.

Bola Tinubu Wins Nigeria’s Presidential Election Against Atiku Abubakar And Peter ObiBBC News

Ruling party candidate Bola Tinubu has been declared the winner of Nigeria’s disputed presidential election. The 70-year-old veteran politician got 37% of the vote, official results show. His main rival Atiku Abubakar polled 29%, and Labor’s Peter Obi 25%. Their parties had earlier dismissed the poll as a sham and demanded a rerun.

House Prices See Biggest Annual Fall In Over 10 YearsBBC News

United Kingdom (“UK”) house prices fell by 1.1% in the year to February, as higher mortgage rates and living costs made homes less affordable. Aside from a small drop at the start of the pandemic, this was the first annual fall in property values since November 2012, according to Nationwide.

Prices slipped on a monthly basis too, falling by 0.5% from January. The building society said it would be “hard for the market to regain much momentum in the near term. Economic headwinds look set to remain relatively strong, with the labor market widely expected to weaken as the economy shrinks in the quarters ahead,” said its Chief Economist Robert Gardner.


Bond Trading Summary

Bond trades of face value ZMW240,249,000 were traded in 26 trades resulting in a market value of ZMW151,991,950

Lusaka Securities Trading Summary

In 81 trades recorded today, 68,666 shares were transacted resulting in a turnover of ZMW120,728.16. A share price gain of ZMW0.04 was recorded in ZNCO. Trading activity was also recorded in CECZ, PUMA, SCBL and ZMBF. The LuSE All Share Index (LASI) closed at 7,262.89 points, 0.18% up from its previous close at 7,249.62 points. The market closed on a capitalization of ZMW72,545,745,256.93 including Shoprite Holdings and ZMW37,763,059,816.93 excluding Shoprite Holdings.


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