Ex-Real Madrid Striker, David Barral becomes first-ever footballer to be bought with Bitcoin
Biden reverses US immigration ban on Nigeria, others
Lafarge moves to divest 35% shareholding in CBI Ghana
AfDB and EIB collaborate to fast-track development in Africa
African tech startups raise over $700 million in 2020 despite pandemic
Malabu Oil Scandal: Prosecutors demand JPMorgan documents
How PR can transform the future and profitability of a business – CEO, Mosron Communications
Oil prices tumble on fears that energy demand is dropping
Joe Biden sworn-in as the 46th President of the United States
273,000 Bitcoins taken away from crypto market within a month
Markets
Skye Bank makes gainers chart for the last time
The NSE All-Share Index and Market Capitalisation appreciated by 0.66%.
The NSE All-Share Index and Market Capitalisation appreciated by 0.66% to close the week at 32,540.17 basis points. Year to date, the index is down 14.91%.
50 equities appreciated in price during the week, higher than 13 in the previous week. 25 equities depreciated in price, lower than 58 equities of the previous week, while 94 equities remained unchanged, lower than 98 equities recorded in the preceding week.
Gainers
Union Diagnostic and Clinical Services Plc
Union Diagnostic and Clinical Services Plc was the best performing stock this week, appreciating by 26.67%. The stock opened at N0.30 and closed at N0.38, up N0.08. Year to date, the stock is down 24%.
First Aluminium Nigeria Plc
First Aluminium Nigeria Plc opened at N0.30 and closed at N0.37, up N0.07 or 23.33%. Year to date, the stock is down 26%.
Forte Oil Plc
Forte Oil gained 22.86% this week. The stock opened at N17.50 and closed at N21.50, up N4.50. Year to date, the stock is down 50.55%.
Regency Alliance Insurance
Regency Alliance Insurance opened at N0.22 and closed at N0.26, up N0.04 or 18.18%. Year to date, the stock is down 52%.
UACN Plc
UAC of Nigeria Plc opened at N10.50 and closed at N11.80, up N1.30. Year to date, the stock is down 30.18%.
Union Bank Plc
Union Bank gained 16% this week. The stock opened at N5.00 and closed at N5.80, up N0.80. Year to date, the stock is down 25.64%.
Skye Bank Plc
The defunct Skye Bank Plc opened its last trading week at N0.67, and closed at N0.77, up N0.10 or 14.93%. Year to date, the stock gained 54% and was one of the best-performing banking stocks on the Nigerian Stock Exchange (NSE).
The CBN, in a press briefing yesterday announced the revocation of the bank’s operating licence. As such, the bank has ceased trading on the Nigerian Stock Exchange.
Lafarge Africa Plc
Cement giant, Lafarge Africa Plc, appreciated by 13.53% this week. The stock opened at N20.70 and closed at N23.50, up N2.80. Year to date, the stock is down 47.65%.
Prestige Assurance Plc
Prestige Assurance Plc opened the week at N0.43 and closed at N0.48 up N0.05 or 10.42%. Year to date, the stock is up 6%.
Linkage Assurance Plc
Linkage Assurance Plc rounds up our top gainers for the week. The stock opened at N0.59 and closed at N0.63, up N0.04 or 8.47%. Year to date, the stock is down 3.03%.
Losers
Standard Alliance Insurance Plc
Standard Alliance Insurance Plc was the worst performing stock this week, declining by 20%. The stock opened at N0.25 and closed at N0.20, down N0.05. Year to date, the stock is down 60% and is trading at a year low.
AXA Mansard Insurance Plc
AXA Mansard Insurance opened at N2.30 and closed at N1.86, down N0.44 or 19.13%. Year to date, the stock is down 3.63% and is trading at a year low.
Red Star Express Plc
Red Star Express Plc depreciated by 17.43% this week. The stock opened at N5.45 and closed at N4.50, down N0.95. Year to date, the stock is down 12.11%, currently trading at a year low.
Cornerstone Insurance Plc
Cornerstone Insurance opened at N0.24, and closed at N0.20, down N0.04 or 16.67% Year to date, the stock is down 60%.
John Holt Plc
John Holt Plc fell by 8.62% this week. The stock opened at N0.58 and closed at N0.53, down N0.05. Year to date, the stock is down by 6%.
Universal Insurance Plc
Universal Insurance Plc opened the week at N0.25 and closed at N0.23, down N0.02. or 8%. Year to date, the stock is down 54%.
Capital Oil Plc
Capital Oil Plc also declined by 8% this week. The stock opened at N0.25, and closed at N0.23, down N0.02. Year to date, the stock is down 54%.
Consolidated Hallmark Insurance Plc
Consolidated Hallmark Insurance opened at N0.32 and closed at N0.30, down N0.02 or 6.25%. Year to date the stock is down 40%.
Niger Insurance Plc
Niger Insurance fell by 6.05% this week. The stock opened at N0.33 and closed at N0.31, down N0.02. Year to date, the stock is down 38%.
Diamond Bank Plc
Diamond Bank Plc rounds up the top 10 losers for the week, dropping by 5.43%. The stock opened at N1.29 and closed at N1.22, down N0.07. Year to date the stock is down 18.67%.
Cryptocurrency
Ex-Real Madrid Striker, David Barral becomes first-ever footballer to be bought with Bitcoin
Former Real Madrid Striker, David Barral has become the first-ever footballer to be bought with Bitcoin.
Former Real Madrid striker, David Barral, makes transfer history as he became the first-ever professional player to be bought solely with virtual currency, Bitcoin.
Spanish third division side, DUX Internacional de Madrid, simply known as Inter Madrid, has officially signed the 37-year-old after teaming up with their new sponsors, Criptan that deals in cryptocurrency, The SUN reports.
Inter Madrid who are part of DUX gaming, eSports club owned by footballers Borja Iglesias and Real Madrid star, Thibaut Courtois, is yet to disclose the total value of the deal.
The Segunda Division B club went to Twitter to welcome their new signing and thank their sponsor.
“David Barral new player of DUX Internacional de Madrid, welcome to the infinite club! He becomes the first signing in history in cryptocurrencies. Thanks to Criptan, our new sponsor, for making it possible,” the club tweeted.
The 37-year-old, who made over 50 appearances playing in the Real Madrid reserve side, expressed his delight at his latest move. Barral has also played for Spanish La Liga clubs Sporting Gijon, Levante, and Racing Santander.
“Glad to join the project of @interdemadrid with eager ambition and responsibility to continue competing and achieve important challenges in my sports career,” he wrote on his official Twitter handle.
What you should know
- A similar deal was when a Harunustaspor, Turkish amateur side, paid 0.0524 Bitcoin (£385) plus 2,500 Turkish Lira in cash (£841) for Omer Faruk Kıroğlu in 2018.
- Back in December, Carolina Panthers offensive tackle Russell Okung became the first high-profile athlete in the United States to be paid in bitcoin.
- Similarly, the Mark Cuban-owned Dallas Mavericks became the second NBA franchise to accept Bitcoin as a means of payment for both game tickets and merchandise.
Market Views
Netflix gains 17% after beating investors expectation
Netflix for the first time ever passed the 200 million subscriber mark and had an impressive reserve of $8.2 billion in cash.
Netflix’s share price bounced about 17% higher after it beat market expectation, powering the video streaming stock to close high after adding more customers than expected and revealed it no longer needs debt in building its entertainment empire.
The positive upbeat guidance on free cash prompted bullish remarks from Wall Street analysts, though some questioned how much of the subscriber growth was pulled forward.
Stock traders increased their buying pressure on Netflix stock because of the surprisingly strong growth, as well as news that Netflix balance sheets are solid enough for Netflix considering share buybacks. Shares jumped 17% percent to $586.34 in recent trading Wednesday.
Netflix for the first time ever passed the 200 million subscriber mark and had an impressive reserve of $8.2 billion in cash.
READ: Netflix, Amazon, Zoom, Shopify drop over 10%
COVID-19 pandemic has aided Netflix’s business, forcing people in spending more time indoors coupled with curbing other traditional entertainment options like movie theaters and concerts.
Netflix added 25.9 million customers in H1, 2020, and ended up adding 36.6 million customers in all – a record.
“Investors come out of the fourth quarter incrementally more bullish on the potential of a powerful developing shareholder return story for Netflix in the coming years,” Evercore ISI analyst, Lee Horowitz wrote in a note to Bloomberg News.
READ: McCaleb, co-founder of Ripple sells 28.6 million XRP
Analysts at J.P. Morgan Securities said the company is likely to begin share buybacks in the second half of the year.
Quick fact: Netflix is an American streaming company that allows subscribers to watch movies, documentaries, different popular TV shows, and many more through internet-connected hardwires.
Stephen Innes, Chief Global Market Strategist at Axi in a note to Nairametrics also spoke on the impressive gains sighted in the $259 Billion valued company;
“Earnings reports also underpinned equity sentiment. Netflix rose 16% after noting its subscriber numbers increased by a record 37 million in 2020. Serenely, it seems lockdowns and TV go hand in hand.
READ: Nigeria leads the world in Bitcoin searches on Google
“A testament to the maximum policy overdrive, investors wasted little time getting their feet wet after Janet Yellen espoused by the Biden “go big” policy approach to repair the economic damage caused by the pandemic, which also highlights the importance of helping small businesses and the unemployed.”
What to expect: The Stock market is seeing through longer lockdowns on the premise that COVID vaccinations will lead us out of the pandemic quickly and had helped triggered significant buying pressure on stocks like Netflix taking advantage of reduced social mobility in play
Cryptocurrency
World’s biggest asset manager provides Bitcoin to clients
The world’s largest asset manager BlackRock Inc is adding bitcoin futures as an eligible investment asset class.
The world’s largest asset manager, BlackRock Inc is adding bitcoin futures as an eligible investment asset class according to a recent filing by the leading asset management company in a move to bring crypto to its customers.
BlackRock, in a report credited to Reuters disclosed that it was using such asset class as bitcoin derivatives for its two funds namely; BlackRock Global Allocation Fund and BlackRock Strategic Income Opportunities.
Such funds listed above will invest only in cash-settled bitcoin futures traded on commodity exchanges registered with the Commodity Futures Trading Commission, the company said in a filing to the Securities and Exchange Commission yesterday.
Recall some weeks ago, BlackRock CEO, Larry Fink had disclosed, the flagship crypto is on his company’s radar amid the rapid gains recorded by Bitcoin this year alone.
Speaking recently at the Council on Foreign Relations alongside Mark Carney, former Governor of the Bank of England, Fink said, “Bitcoin has caught the attention and the imagination of many people. Still untested, pretty small relative to other markets.”
- BlackRock is the world’s biggest asset manager with about $7.4 trillion in assets under management as of the end of Q4 2019.
- Its massive size allows it to do what no other asset management on planet earth can do.
Upshot
Also, the BlackRock CIO of Fixed Income buttressed his bias, on why Cryptos are here to stay, taking into account its role in payments among the world’s millennials.
“I think cryptocurrency is here to stay and I think it is durable and you’ve seen the central banks that have talked about digital currencies. I think digital currency and the receptivity, particularly millennials’ receptivity to technology and cryptocurrency is real. Digital payments systems are real, so I think Bitcoin is here to stay,” he said.
Anonymous
October 16, 2018 at 8:36 pm
What happens to my Skye bank shares now that the CBN has revoked her licence and replaced same with Polaris bank?