Connect with us
nairametrics

Markets

Stocks to watch: Q3 2018 results are on their way

Stocks to watch this week comprises the top gainers and losers of the previous week.

Published

on

Stocks to watch

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.

GTBank 728 x 90

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

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.

GTBank 728 x 90
Fidelity ads

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.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via [email protected]

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Cryptocurrency

Ripple’s chairman transfers 500,000,000 XRP

Chris Larsen, Ripple’s co-founder and Chairman transferred 499,999,979XRP. 

Published

on

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.

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.

GTBank 728 x 90

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.

Continue Reading

Stock Market

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.

Published

on

Global stocks sell-off persists as resurgence of COVID-19 frighten investors 

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.

Top gainers

  • 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

Top losers

  • 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

Outlook

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.

Continue Reading

Debt Securities

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.

Published

on

United Capital Asset Management explains mutual funds’ positive performance

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.

Summary of the offer

GTBank 728 x 90
  • 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.

Continue Reading
Advertisement
Advertisement
Advertisement
ikeja electric
Advertisement
Patricia
Advertisement
FCMB ads
Advertisement
IZIKJON
Advertisement
Fidelity ads
Advertisement
first bank
Advertisement
bitad
Advertisement
deals book
Advertisement
financial calculator
Advertisement
deals book
Advertisement
app
Advertisement