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.
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 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%.
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%.
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%.
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 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%.
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 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%.
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%.
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.
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.
- ARDOVA up 10.00% to close at N14.85
- LINKASSURE up 10.00% to close at N0.55
- CHAMPION up 9.52% to close at N1.84
- OANDO up 9.43% to close at N2.9
- MORISON up 9.09% to close at N0.72
- MEYER down 10.00% to close at N0.45
- LIVESTOCK down 9.87% to close at N2.01
- SCOA down 9.85% to close at N2.38
- IKEJAHOTEL down 9.48% to close at N1.05
- NEM down 6.88% to close at N1.76
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.
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.
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.
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.
“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.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- 2020 FY Results: Champion Breweries Plc reports a revenue growth of 1.80% in 2020
- Seplat falls into a loss in FY 2020
- 2020 FY Results: Cornerstone Insurance Plc reports a 61.1% decline in profit
- Ellah Lakes increases operating expenses by 33.36% in HY 2020
- 2020 FY Results: Nigerian Breweries reports a 54.3% decline in profits in 2020