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Markets

Japaul switches positions this week

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NSE, Gainers and Losers, Nigerian Stock exchange

This week was a bearish one on the Nigerian Stock Exchange, as the All Share Index shed 2.12%.

26 equities appreciated in price during the week, lower than 34 in the previous week. 38 equities depreciated in price, the same with 38 equities of the previous week, while 104 equities remained unchanged, higher than 96 equities recorded in the preceding week.

Top Gainers

Cornerstone Insurance

Cornerstone Insurance Plc was the best performing stock this week. The stock gained 19.05%, opening at N0.21 and closing at N0.25, up N0.04. Year to date, the stock is up 25%.

Livestock Feeds Plc

Livestock Feeds Plc appreciated by 15.52% this week. The stock opened at N0.58 and closed at N0.67, up N0.09. Year to date, the stock is up 36.73%.

Veritas Kapital Assurance

Veritas Kapital Assurance Plc opened the week at N0.21 and closed the week at N0.24, up N0.03. Year to date, the stock is up 4.35%.

C and I Leasing Plc

C and I Leasing Plc gained 9.98% this week. The stock opened at N6.61 and closed at N7.27, up N0.66. Year to date, the stock is up 308%.

Neimeth International

Neimeth International Pharmaceuticals Plc opened the week at N0.61 and closed at N0.67, up N0.06. Year to date, the stock is down 14.1%.

AG Leventis Plc 

AG Leventis Plc appreciated by 9.68% this week. The stock opened at N0.31 and closed at N0.34, up N0.03 or 9.68%. Year to date, the stock is up 25.93%.

Newrest ASL Nigeria Plc

Newrest ASL Nigeria Plc opened the week at N6.45 and closed at N7.05, up N0.60 or 9.30%. Year to date, the stock is down 10.76%.

This week, the company’s shares were placed on full suspension by the Nigerian Stock Exchange prior to its delisting from the exchange.

Niger Insurance Plc

Niger Insurance Plc gained 9.09%. The stock opened at N0.22 and closed at N0.24, up N0.02. Year to date, the stock is flat.

PZ Cussons Nigeria

PZ Cussons Nigeria Plc opened at N12.35 and closed at N13.45, up N1.10 or 8.91%. Year to date, the stock is up 11.16%.

John Holt Plc

John Holt Plc rounds up the top 10 gainers for the week. The stock appreciated by 8.33% opening at N0.21 and closing at N0.24, up N0.03. Year to date, the stock is up 18.18%.

Losers

Transcorp Plc

Transnational Corporation Plc was the worst performing stock this week. The stock opened at N1.45 and closed at N1.21, down N0.24, or 14.48%. Year to date, the stock is down 6.06%.

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The stock was marked down by N0.03 this week, in line with its declaration of a dividend.

NPF Microfinance Bank

NPF Microfinance Bank Plc fell by 12.73% this week. The stock opened at N1.65 and closed at N1.44, down N0.21. Year to date, the stock is down 12.73%.

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Oando Plc

Oando Plc opened the week at N6.50 and closed at N5.75, down N0.75 or 11.54%. Year to date, the stock is up 15%.

Unilever Plc

Unilever Plc fell by 10% this week. The stock opened at N43 and closed at N38.70, down N4.30. Year to date, the stock is up 4.59%.

Goldlink Insurance Plc 

Goldlink Insurance Plc opened the week at N0.48 and closed at N0.44, down N0.04 or 8.33%. Year to date, the stock is down 16.98%.

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Wema Bank Plc

Wema Bank Plc also declined by 8.33% this week. The stock opened at N0.84 and closed at N0.77, down N0.07. Year to date, the stock is up 22.22%.

Eterna Plc

Eterna Plc opened the week at N4.80 and closed at N4.40, down N0.40 or 8.33%. Year to date, the stock is down 6.38%.

Japaul Oil and Maritime Plc 

Japaul Oil and Maritime Plc, which was last week’s best performing stock, took a tumble this week. The stock opened at N0.25 and closed at N0.23, down N0.02. Year to date, the stock is up 9.52%.

Access Bank Plc

Access Bank Plc opened at N6.40 and closed at N5.80, down N0.50 or 7.81%. Year to date, the stock is down 13.24%.

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FBN Holdings  

FBN Holdings Plc rounds up the top 10 losers for the week. The stock opened at N8.35 and closed at N7.75, down N0.60 or 7.19%. Year to date, the stock is down 2.52%.

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]

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Market Views

Nigerian Stocks bulls stage a comeback, ARDOVA, OANDO rally high

The performance of the market today was largely driven by price appreciation in Nigerian Oil stocks.

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Value of shares traded by top 10 stockbrokers up 133% despite COVID-19, investors, Raging Bulls lift Brent Crude price by 10%

Nigerian stocks ended the first trading session of the week bullish. The All Share Index rallied up by 0.17% to close at 39,396.57 index points as against the 0.08% drop recorded last Friday. Its Year-to-Date (YTD) returns currently stand at -2.17%.

  • However, the Nigerian trading bourse turnover printed negative as volume dipped by 49.92% as against the 19.18% surge recorded last Friday.
  • ZENITHBANK, FBNH, and MANSARD were the most active Nigerian Stocks that boosted the Nigerian Stock market turnover on Monday.
  • The Market breadth closed positive as ARDOVA led 24 Gainers as against 14 Losers topped by DNMEYER at the end of today’s session – an improved performance when compared with the previous outlook.

Top gainers

  1. ARDOVA up 10.00% to close at N14.85
  2. LINKASSURE up 10.00% to close at N0.55
  3. CHAMPION up 9.52% to close at N1.84
  4. OANDO up 9.43% to close at N2.9
  5. MORISON up 9.09% to close at N0.72

Top losers

  1. MEYER down 10.00% to close at N0.45
  2. LIVESTOCK down 9.87% to close at N2.01
  3. SCOA down 9.85% to close at N2.38
  4. IKEJAHOTEL down 9.48% to close at N1.05
  5. NEM down 6.88% to close at N1.76

Outlook

Nigerian bourse ended Monday’s trading session on a bullish note amid price swings prevailing in the oil futures market.

  • The performance of the market today was largely driven by price appreciation in Nigerian Oil stocks.
  • Amidst such turnaround currently in play, Nairametrics envisages caution as recent price action reveals high selling pressures still prevail among a significant number of low and medium-capitalized stocks across the market spectrum.

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Cryptocurrency

PayPal is buying a Crypto security startup for less than $200 million

PayPal is set to outrightly purchase a crypto-security firm, Curv as part of its campaign in building its crypto ecosystem.

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Paypal

PayPal is set to outrightly purchase a crypto-security firm Curv as part of its campaign in building its crypto ecosystem, the company disclosed today.

According to a report credited to CNBC, the deal is estimated to be worth less than $200 million, it’s expected to close before June this year.

The company’s stock price however recorded some selling pressures at the time of writing amid rising U.S Treasury yields and greenback keeping global investors on their toes.

READ: CBN and cryptocurrency ban

The crypto startup about to be acquired by PayPal provides companies with Crypto security technology via the cloud. PayPal revealed that the purchase would help its expansion on supporting crypto.

“The acquisition of Curv is part of our effort to invest in the talent and technology to realize our vision for a more inclusive financial system,” PayPal’s Jose Fernandez da Ponte said in a statement.

In a press statement seen by Nairametrics, Dan Schulman, president, and CEO, PayPal, gave key insights on why the global payment company was going crypto; The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of; financial inclusion and access, efficiency, speed, the resilience of the payments system and the ability for governments to disburse funds to citizens quickly.

READ: U.S customers can now buy Cryptos with Paypal

“Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption, and inter-operability of these new instruments of exchange,” he said.

Furthermore, he said, “We are eager to work with central banks and regulators around the world to offer our support and to meaningfully contribute to shaping the role that digital currencies will play in the future of global finance and commerce.”

This offering was made possible through a partnership with Paxos Trust Company, a regulated provider of crypto services and products.

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