Stocks to watch this week comprises the top gainers and losers of the previous week, as well as companies that have released results or taken other corporate actions after trading hours.
Stocks to watch is not a Buy/Sell/Hold recommendation.
Wema Bank Plc
Wema Bank tops our watchlist by virtue of being the best performing stock last week. The stock closed at N0.66 up 26.92%. Investors could decide to cash out some of their profits, especially in view of current market sentiments.
First Aluminium Nigeria Plc
First Aluminium has a spot on our watchlist by virtue of being the worst performing stock last week. The stock fell by 21.43% to close at N0.33. The stock could make slight gains in the following week, as speculators could decide to go in for short-term trades.
The suspended 6
DN Tyre & Rubber Plc, FTN Cocoa Processors, International Energy Insurance Plc, Thomas Wyatt Nigeria Plc, Union Dicon Salt Plc and Unic Diversified Holdings Plc all have a joint spot in our watchlist.
Last week, the companies were suspended from trading by the NSE for failure to submit their results when required. Union Dicon has since responded with the release of its most recent results.
PZ Cussons Nigeria Plc
PZ Cussons Nigeria has a spot on our watchlist by virtue of its Annual General Meeting (AGM) which will hold on the 18th of October, 2018.
Royal Exchange Plc
Royal Exchange Plc has a spot on our watchlist by virtue of its Annual General Meeting (AGM) on the 18th of October, 2018.
Dangote Sugar Refinery Plc
Dangote Sugar Refinery Plc has a place on our watch list this week, by virtue of a notice announcing the resignation of its Group Managing Director, Abdullahi Sule. A few weeks ago, Nairametrics had reported that Sule might step down following his clinching the APC gubernatorial ticket for Nassarawa State.
CAP Plc has a spot on our watchlist by virtue of a board meeting which will hold on the 19th of October, 2018. At this meeting, the company’s Q3 2018 results will be considered and approved.
The company has had stellar 2018 results so far and could be in for one of its best results in the last few years.
Dangote Cement Plc
Dangote Cement has a spot on our watchlist by virtue of the company’s board meeting holding on the 19th of October, 2018. The board will be considering the company’s Q3 2018 results at the meeting.
Diamond Bank Plc
Diamond Bank Plc has a spot on our watchlist by virtue of its board meeting which will be held on the 18th of October, 2018. The board will consider and approve the bank’s Q3 2018 results.
Transcorp Hotels Plc
Transcorp Hotels Plc has a place on our watchlist this week, by virtue of the company holding a board meeting on the 16th of October, 2018. The board will consider the company’s Q3 2018 results.
Portland Paints and Products Plc
Portland Paints and Products Plc has a spot on our watch list this week, by virtue of the company holding a board meeting on the 16th of October, 2018. On the agenda is the company’s Q3 2018 results.
Africa Prudential Plc
Africa Prudential Plc has a spot on our watchlist by virtue of the company holding a board meeting on October 18, 2018. Agenda is to consider the company’s Q3 2018 results.
Guaranty Trust Bank Plc
Guaranty Trust Bank has a spot on our watchlist by virtue of the bank’s board meeting scheduled for October 17, 2018. Agenda is to consider the bank’s Q3 2018 results.
RT Briscoe Plc
RT Briscoe Plc takes a spot on our watchlist by virtue of the company’s board meeting holding on October 16, 2018. Agenda is to consider the company’s Q3 2018 results.
Ripple’s chairman transfers 500,000,000 XRP
Chris Larsen, Ripple’s co-founder and Chairman transferred 499,999,979XRP.
The fourth most valuable crypto in the crypto-verse is on limelight again. Data from Whale Alert revealed that Chris Larsen, Ripple’s co-founder and Chairman transferred 499,999,979XRP worth (115,847,491 USD) to unknown wallet.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 499,999,979 #XRP (115,847,491 USD) transferred from Chris Larsen to unknown wallet
— Whale Alert (@whale_alert) September 22, 2020
The Ripple’s co-founder, via his Twitter feed, commented on the move, and further revealed the unknown wallet, he transferred the huge stacks of Ripple.
“As some of you may have noticed, I moved an $XRP wallet to NYDIG. I’ve known the founders for a while, and am impressed by their security and top-notch institutional standards — this is truly custody 2.0.,” Larsen tweeted.
As some of you may have noticed, I moved an $XRP wallet to NYDIG. I’ve known the founders for a while, and am impressed by their security and top notch institutional standards — this is truly custody 2.0. Check them out at https://t.co/lbr8bG1kEe
— Chris Larsen (@chrislarsensf) September 22, 2020
What we know: NYDIG provides digital asset services to investors around the world. NYDIG’s custody platform, built fully in-house, is designed to satisfy the highest regulatory, audit, and governance standards, and NYDIG’s team is comprised of professionals with deep experience in capital markets, technology, and digital assets.
Quick fact: Ripple (XRP) plays dual roles as a payment platform and a currency. The platform is an open-source platform that is created to allow quick and cheap transactions.
Unlike its crypto rival, Bitcoin, which was never intended to be a simple payment system, Ripple has gained the attention of major global banks such as Standard Chartered and Barclays for international transactions worldwide.
Global banks having a relationship with Ripple
Japan-based Mitsubishi UFJ Financial Group, with assets of more than USD 2.8 trillion, announced in November 2018 that, in cooperation with Ripple, it would provide an international money transfer service on the payment corridor from Japan to Brazil.
Banks using Ripple include Europe’s banking giant, HSBC Holdings Plc, with assets of about $2.5 trillion, which disclosed in 2019 that it would use the XRP payment solution.
Japan Post Bank with assets of USD 1.9 trillion, Sumitomo Mitsui Financial Group, and Mizuho Financial Group with trillions of dollars in assets, also have a close relationship with Ripple Asia. Others having a relationship with Ripple include Banco Santander, Barclays PLC, Royal Bank of Canada, and Toronto-Dominion Bank.
MTN Nigeria records gain, investors profit up by N42 billion
REDSTAREX led 9 Gainers as against 17 Losers topped by UBN at the end of today’s session.
Nigerian bourse on Tuesday closed its trading session on an impressive note. The All Share Index gained by +0.31% to close at 25,574.35 points as against +0.01% appreciation recorded on Monday.
- Its Year-to-Date (YTD) returns currently stands at -4.42%. Nigerian Stock Exchange capitalization presently stands at N13.408 trillion.
- Investors gained N42.09 Billion.
- Nigerian bourse trading turnover printed positive as Nigerian Stock Market trading moved and gained 33.61% as against +1.36% uptick recorded on Monday.
- ZENITHBANK, FBNH, and TRANSCORP were the most active to boost market turnover.
Market breadth ended negative as REDSTAREX led 9 Gainers as against 17 Losers topped by UBN at the end of today’s session – an unimproved performance when compared with the previous outlook.
- REDSTAREX up 9.80% to close at N3.25
- TRANSEXPR up 9.33% to close at N0.82
- MTNN up 2.41% to close at N123
- FBNH up 2.04% to close at N5
- DANGSUGAR up 0.83% to close at N12.1
- UBN down 6.54% to close at N5
- INTBREW down 2.94% to close at N3.3
- UACN down 1.56% to close at N6.3
- PRESCO down 0.80% to close at N49.5
- DANGCEM down 0.22% to close at N134.7
Nigerian bourse unsurprisingly ended higher amid rising oil prices and high buying pressures noticed in NSE30 stocks like Dangote Sugar, First Bank, and MTN Nigeria.
- Market liquidity was notably higher as institutional investors increased their stakes on decent stock brands.
- In spite of the sell-offs in global markets, and the dollar strengthening upward, as Local investors are taking advantage of undervalued stocks across the spectrum
- Nairametrics, however, envisages caution in selecting stocks, as market indicators show high uncertainty in the coming days.
United Capital Plc lists N10 billion fixed rate bonds
United Capital Plc has listed its N10bn, 5 Year 12.5% Senior Unsecured Fixed Rate Series I Bonds.
Today, September 22, 2020, the Nigerian Stock Exchange (NSE) announced the listing of United Capital Plc’s N10 billion, 5 year senior unsecured fixed-rate series bonds due 2025, with a 12.5% interest.
In a statement made available on the NSE website, and signed by Godstime Iwenekhai, Head, Listings Regulation, the medium-term bond will be issued as part of the N30 billion Debt Issuance Programme.
The subscription for the offer will last for twelve (12) days, as the offer will open on the 4th of May, 2020, and close on the 15th of May, 2020.
— The Nigerian Stock Exchange (@nsenigeria) September 22, 2020
Summary of the offer
- Issuer: United Capital Plc
- Offer date: 28th of May, 2020
- Maturity date: 28th of May, 2025.
- Units of sale: 10,000,000
- Price: N1000 per units offered
- Coupon rate: 12.5%
Redemption: Semi-annually, and payable in arrears on 28th November and 28th May of each year, up to and including the Maturity Date.
Note: Senior unsecured bonds are a non-convertible corporate bond, that is not subordinated to any other unsecured indebtedness of the related issuer. Hence, it guarantees bondholders a quick payout in cases of default. While a fixed rate bond is a long-term bond, with an already specified coupon rate (Interest).
United Capital Plc, is a leading African financial and investment banking group, providing bespoke value-added service to its client. The firm was incorporated in Nigeria on March 14, 2004.