While you were sleeping our analysts gathered market data for things you need to start your day. These include:
Zambian Judge’s bemoan being tried by Advocates at Judicial Complaints Commission – Judge Chitabo
Judges in Zambia have bemoaned the anomaly of being tried by advocates at the Judicial Complaints Commission. This was contained in a statement by Judge Chitabo as he gave a speech at the opening ceremony of the High Court Criminal session in Lusaka the capital yesterday graced by the Chief Justice Irene Mambilima and her deputy Marvin Mwanamwambwa.
In his speech, Judge Chitabo recommended that judges should only be tried by their peers or any one higher. “How can those on the bench be tried by those from the bar, they are too junior,” he said. The government was also urged to increase the number of judges and court rooms to help expedite case turn around. To read more….
Copper hits two-week low, Zinc at Highest in more than a Decade
Copper hit a two-week low on Monday, weighed down by a stronger dollar and as the market consolidated following sharp gains in December, while zinc again reached its highest in more than a decade on supply concerns.
The dollar rose against the euro, making dollar-priced metals costlier for non-U.S. investors, while world stocks were near all-time highs as the best start to a year in eight years showed little sign of abating.
“We had a very strong period at the back end of last year (and) in 2018 we still have supply side growth (in copper) with new mining projects coming online,” said Bernstein analyst Paul Gait, adding however, that he still expected copper to be “pushing higher over the course of 2018”. To read more…
JSE All Share Index breaks through 60,000 points in low-volume trade, led by rand hedges
A Softer rand and positive mood on global markets helped the JSE begin the week on a high note on Monday, with most of the major European and US equity markets reaching record highs.
Domestically, all eyes remained fixed on any developments within the ANC that could move the rand, while globally, sentiment has been bullish.
Wall Street had seen its best start to the year in a decade, with inflation in the US remaining low, economic growth improving and interest rates likely to stay at their historically low level for some time, said TreasuryOne currency dealer Phillip Pearce. To read more…
Look out for the 8th edition – the first in the year 2018 tomorrow!