Markets
Zenith Bank trades heavy volumes as NSE closes in the green
The bulls regained control in today’s trading session on the Nigerian Stock Exchange (NSE). The All-Share Index closed at 30,822.33 basis points, up 0.71%. Year to date, the index is down 19.40%
Top Gainers and Losers
Neimeth International Pharmaceuticals was the best performing stock today. The stock gained 10% to close at N0.66. The uptick in price may be due to the positive full-year result released by the firm today. Cement Company of Northern Nigeria was next with a 9.91 gain to close at N18.85. Forte Oil also gained 9.91% to close at N23.85
On the flip side, Access Bank was the worst performing stock today. The stock shed 5.52% to close at N7.70. Mutual Benefits Assurance was next with a 4.76% decline to close at N0.20. Nigerian Breweries shed 3.40% to close at N76.70.
Top Trades by Volume
Zenith Bank was the most actively traded stock today. 102 million shares valued at N2.3 billion were traded in 286 deals. AXA Mansard insurance was next with 40 million shares valued at N80 million traded in 13 deals. Lafarge Wapco rounds the top three most traded with 25.9 million shares valued at N309 million traded in 193 deals.
Corporate Actions
Morrison Industries Plc
Morrison Industries Plc has announced the resignation of its Managing Director Mr Nwabueze Oputa, effective November 30, 2018.
The board has also appointed Mr Deji Mustapha as Acting Managing Director, effective 10th of December, 2018
Lafarge Africa opens rights issue
Lafarge Africa has commenced an N89.2 billion rights issue. The issue opened yesterday and will be closing on the 23rd of January 2019.
The company is offering 7,434,367,256 shares at the rate of 6 new shares for every 7 already held at N12 per share.
Neimeth declares bonus
Neimeth International Pharmaceuticals Plc released its results for the financial year ended September 30, 2018. Turnover increased from N1.5 billion in 2017 to N2.2 billion in 2018. The firm made a profit before tax of N202 million in 2018 as against a loss before tax of N411 million recorded in 2017.
The company also declared a bonus of 1 new share for every 10 shares held. Qualification date is Thursday 17th of January 2019.
Cryptocurrency
Rich investors are moving cryptos at an alarming rate
Over $1.5 billion worth of Bitcoins have been transferred from one point to another in more than 15 transactions.
Wealthy investors have lately intensified their moves at an astronomical rate, with the prevailing price seen at the world’s flagship crypto hovering above $13,000.
At the time of writing, over $1.5 billion worth of Bitcoins have been transferred from one point to another in more than 15 transactions tracked by Nairametrics, thus giving a signal that wealthy investors are definitely up to something.
The most recent price movement captured by Nairametrics showed a BTC whale moving about $34 million worth of cryptos to Coinbase, the world’s most valuable crypto exchange company.
🚨 🚨 🚨 2,500 #BTC (33,671,694 USD) transferred from unknown wallet to #Coinbase
— Whale Alert (@whale_alert) October 31, 2020
Why you should know: In the crypto-verse, traders, or global investors who own large numbers of BTCs are typically called Bitcoin whales. This means a Bitcoin whale would be an individual or business entity (with a single Bitcoin address) owning around 1000 Bitcoins or more.
The number of large entities owning BTCs recently reached an all-time high amid Bitcoin’s ascension. By October 25, the number of large entities owning over 1000 BTCs increased to 2,231.
Whales could be anticipating a strong medium to long-term Bitcoin price trend, and are choosing to hold on to BTC in expectation of a bull market.
What this means: much of the recent increase can be attributed to wealthy entities withdrawing their BTC from exchanges. Apparently, this is not new wealth; rather, it represents a change in the way Bitcoin whales are choosing to hold their coins.
- That said, it’s critical to note these large entities are on record highs amid last week’s price ascension. Statistics obtained from BitcoinCharts revealed that Bitcoin whale addresses actually control a much higher 7,902,469 BTC, or 42% of the total supply.
- That brings an affirmative bias that these large entities’ movements are trajectory to price movements at unprecedented levels.
- This is an indication that more high-net-worth individuals are entering the space to invest in Bitcoin, in expectation of $BTC price appreciation.
- Bitcoin accumulation has been on a constant upward trend for months. 2.6M $BTC (14% of supply) are currently held in accumulation addresses.
Stock Market
Total, Nestle, lead Nigerian Stocks to record high
Market breadth closed positive as NESTLE led 43 Gainers as against 11 Losers topped by PRESTIGE at the end of today’s session.
Nigerian stocks were blue hot on Friday, as investors momentarily went bullish on most listed stocks. The All Share Index gained 3.71% to close at 30,530.69 points as against +1.58% appreciation recorded on Thursday.
- Nigerian Stock Exchange capitalization presently stands at about N16 trillion naira.
Its Year-to-Date (YTD) returns currently stands at +13.74%. - That said, Nigerian bourse trading turnover was very impressive at Friday’s trading session as volumed surged by +115.27% as against -2.68% downtick recorded on Thursday.
- UBA, ACCESS, and FBNH were the most active to boost market turnover. GUARANTY and STANBIC topped the market value list.
- Market breadth closed positive as NESTLE led 43 Gainers as against 11 Losers topped by PRESTIGE at the end of today’s session – an unimproved performance when compared with the previous outlook.
Top gainers
- NESTLE up 10.00% to close at N1421.7
- MOBIL up 9.98% to close at N196.1
- BUACEMENT up 9.90% to close at N45.5
- TOTAL up 9.25% to close at N129.9
- DANGCEM up 3.03% to close at N160
Top losers
- PRESTIGE down 10.00% to close at N0.54
- NAHCO down 5.41% to close at N2.1
- GUINNESS down 3.13% to close at N17
- PZ down 2.20% to close at N4.45
- ETI down 0.88% to close at N5.65
Outlook
Nigerian bourse was fired up at all cylinders amid falling oil prices across the market spectrum.
- NSE30 stocks saw high buying pressures as Total and Nestle recorded maximum daily gains on Friday.
- Nigerian institutional investors seem to be shifting more of their funds to Nigerian Stocks on the prevailing low returns seen in the Nigerian debt market.
- Nairametrics, however, envisage cautious buying amid growing uncertainty in Nigeria’s key international market, particularly Europe, where about 40% of Nigeria’s major oil earning comes from.
Company Results
Seplat declares a total interim dividend of $29 million for shareholders
The Interim dividend of US$0.05 per share will be paid on all the outstanding 588,444,561 ordinary shares of the company.
Seplat Petroleum Development Company Plc, a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange and London Stock Exchange, has announced the payment of a total $29,422,228.05 as interim dividend to shareholders.
This information is contained in its notification dated 30 October, 2020, which was signed by the Company Secretary, Mr. Emeka Onwuka, and sent to the floor of the Nigerian Stock Exchange today.
The notification partly reads:
“Seplat Petroleum Development Company Plc (“Seplat” or the “Company”), a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange and London Stock Exchange, today announces an interim dividend at a rate of US$0.05 (United States Five Cents) per Ordinary Share (subject to appropriate WHT) to be paid to SEPLAT’s shareholders whose names appear in the Register of Members as at the close of business on 13th November 2020.”
What you should know
- The Interim dividend of US$0.05 per share will be paid for all the outstanding 588,444,561 ordinary shares of the company owned by the shareholders of the leading energy company, and this gives a total interim dividend of $29,422,228.05, to be distributed to the shareholders of the company.
- The Interim Dividend of US$0.05 (United States Five Cents) per Ordinary Share of N0.50k each (subject to appropriate withholding tax) will be paid to shareholders whose names appear in the Register of Members as at the close of business on 13th November, 2020.
- To enable SEPLAT’s Registrar, Datamax Registrars Limited, prepare for the payment of the interim dividend, the Register of Shareholders will be closed on 16th November 2020.
- On the London Stock Exchange, the Associated Record Date will be 13th November, 2020, and the Ex-Dividend date will be 12th November, 2020.
- The exchange rate for the naira or pounds sterling amounts payable will be determined by reference to the relevant exchange rates applicable to the US dollar on 12th November, 2020, and will be communicated by the Company on 13th November, 2020.
- On or around 7th December, 2020, the interim dividend will be paid electronically to shareholders whose names appear on the Register of Members as at 13th November 2020, and who have completed the e-dividend registration and mandated the Registrar to pay their interim dividend directly into their Bank accounts.
- Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.
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