Nigerian Stock Stock

The Nigerian Stock Exchange ended the third trading session for the week on a negative note. The All Share index closed today’s trading session down 0.71%. Year to date, the market, the market remains in the green up 2.59%.

Top Gainers and Losers 

Neimeth International Pharmaceuticals was the best performing stock today. The stock gained 9.84% to close at N0.67. PZ Cussons Nigeria appreciated 9.35% to close at N13.45. NPF Microfinance Bank rounds up the top three gainers for the day, up 8.72% to close at N1.62.

On the flip side, Union Diagnostics and Clinical Services was the worst performing stock today. The stock shed 9.68% to close at N0.28. Oando was next, declining by 9.66% to close at N6.55. Wema Bank rounds up the top three losers for the day, declining by 8.24% to close at N0.78.  

Top Trades by volume 

Diamond Bank was the most actively traded stock today. 187million shares valued at N466 million were traded in 135 deals. Fidelity Bank was next with 45 million shares valued at N108 million traded in 174 deals. Access Bank rounds up the top three most actively traded with 33 million shares valued at N204 million traded in 345 deals.  

Corporate Actions

Dangote Cement FY 2018 results

Dangote Cement released its audited full-year 2018 results. Revenue increased from N805 billion in 2017 to N901 billion in 2018. Profit before tax rose from N289 billion in 2017 to N300 billion in 2018. Profit after tax jumped from N204 billion in 2017 to N390 billion in 2018

The company also announced the resignation of its Chief Financial Officer Brian Egan, effective Thursday, February 28, 2019. The move is a voluntary one by Egan, to enable him to return to Ireland and spend more time with his family.

Newrest ASL placed on full suspension

Newrest ASL Nigeria Plc shares were today placed on full suspension. This suspension is required to prevent further trading in the shares of Newrest ASL and in order for the Company to comply with the post-approval requirements which will precede its final delisting from the NSE.

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 onome.ohwovoriole@nairametrics.com

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