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LuSE records K92m turnover

By NKOLE MULAMBIA
THE Lusaka Stock Exchange (LuSE) last week recorded a significant increase in turnover of over K92.7 million, with Lafarge Cement Plc accounting for the bulk of trading.
Lafarge Cement Plc filed over K92.2 million in turnover after 3.46 million shares changed hands in 46 trades.
According to LuSE weekly news update for August 22, a total of 3,670,790 shares were transacted in 84 trades resulting in a turnover of K92,736, 883.
This is in comparison with 3,253,231 shares which were transacted in 120 trades yielding K50,301,229.
Overall, trading activity occurred in eight listed firms British American Tobacco Zambia (BATZ), Puma, Copperbelt Energy Corporation (CEC), Lafarge, National Breweries, Standard Chartered Bank Zambia, Zambian Breweries and Zanaco.
On the other hand, the LuSE All Share Index (LASI) closed at 6,216.42 points down by 0.14 percent compared to the previous week’s close of 6,225.08 points.
The index, which is a simple guide to gauge performance of the stock market, declined due to loses in most listed firms.
Meanwhile, the Nigerian Business Day reports that trading resumed this week at the Nigerian stock market on a negative note evidenced in the 0.54 percent decline recorded by the Nigerian Stock Exchange (NSE) All Share Index (ASI).
The recorded decline on Monday was largely driven by share price losses of largely capitalised stocks led by Nigerian Breweries plc, Dangote Cement plc, Ashaka Cement plc, Oando plc, among other equities.
Nigeria’s All Share Index depreciated by 224.71 points to close at 41,339.48 points from 41,564.19 points recorded the preceding trading day (Friday).
The Johannesburg Stock Exchange was flat at midday yesterday with little data due on the day to provide direction, according to Business Day.
At 12:20 hours the all-share index was down 0.12 percent to 51,375.18 points and the blue-chip top 40 index was 0.2 percent lower.
Major indices on the bourse were mixed. The gold index led gains rising 1.34 percent, while the platinum index was down 0.54 percent. The resource index was down 0.3 percent and the banking index was up 0.18 percent. The industrial and financial indices were flat.
Nedgroup Securities analyst Susan Lendrum said it was an “unexciting” day on the market.
“The market has been indecisive; we began the day firmer but overall we are just a touch weaker. The JSE has taken its guide from international markets. Asia ended lower and European stocks are lower with the exception of the FTSE. Volumes are playing a bit of catch-up because the FTSE is open again after Monday’s bank holiday. Naspers is the most traded stock. There isn’t any data due today that could shake the market up a bit,” she said.
Europe’s main stocks were mixed, with Paris awaiting the formation of a new government and London returning from a long holiday weekend.
The UK FTSE 100 was up 0.16 percent, the Paris Cac 40 was flat and the Composite Dax was down 0.48 percent.
Among individual shares, Glencore was down 2.28 percent to R63.76 and BHP Billiton was down 0.76 percent to R344.
Rand hedge SAB was down 1.14 percent to R582.66 and British American Tobacco shed 0.82 percent to R623.72.

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