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Continental Reinsurance, Lafarge Africa escape worst stock list as market closes

Fakoyejo Olalekan by Fakoyejo Olalekan
August 9, 2019
in Markets, Stock Market
Nigerian Stock Exchange, sound, C & I Leasing Plc, NSE launches factbook, Top 10 stockbroking firms, Steroids from GTBANK, ZENITH Lift Nigerian bourse, as investors gain N94.2 billion , Steroids from GTBANK, ZENITH Lift Nigerian bourse, as investors gain N94.2 billion

Nigerian Stock Exchange

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The Nigerian Stock Exchange (NSE) ended Friday’s trading session in negative territory. The All-Share Index closed at 27,306.81 basis points, down 0.43%. Year to date, the index is down by 13.12%.

Top Gainers: Continental Reinsurance Plc was the best-performing stock today. The stock gained 9.45% to close at N1.39. Custodian and Allied Insurance Plc also gained 9.09% to close at N6. Wapic Insurance Plc gained 8.33% to close at N0.39. Wema Bank Plc gained 5.26% to close at N0.60. Lafarge Africa Plc rounded off the top five gainers for today. The stock gained 4.53% to close at N15.

Top Losers: On the flip side, AIICO Insurance Plc was the worst-performing stock, declining by 10% to close at N0.63. Consolidated Hallmark Insurance Plc fell by 9.09% to close at N0.30. Unity Bank Plc fell by 8.57% to close at N0.64. AG Leventis & Company Plc fell by 6.90% to close at N0.27. Honeywell Flour Mill Plc rounded off the top five losers for the day. The stock shed 5% to close at N0.95.

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[READ ALSO: NSE lifts ban on Universal Insurance Plc]

Top Trades by Volume: Guaranty Trust Bank Plc was the most actively-traded stock today. 129 million shares valued at N3.4 billion were traded in 149 deals. Zenith Bank Plc was next with 34.9 million shares valued at N577 million traded in 523 deals, followed by Transnational Corp of Nigeria Plc with 10.2 million shares valued at N8.8 million traded in 159 deals.

United Bank of Africa Plc was next with 8 million shares valued at N45 million traded in 137 deals. Sterling Bank Plc rounded off the top five most actively traded stocks today with 4.4 million shares valued at N9.7 million traded in 69 deals.

Corporate Action

Forte Oil Plc notifies the general public of its 40th Annual General Meeting which will hold on September 3, 2019, by 10 am at Bespoke Event Center Lekki-Ajah Expressway, Lagos.

Oando Plc notifies the general public of the appointment of Dr Ainojie Alex Irune as an Executive Director of the Company effective August 9, 2019.


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Tags: AIICO Insurance - NewsCompanies on Nigerian Stock ExchangeNigerian Stock Exchange
Fakoyejo Olalekan

Fakoyejo Olalekan

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: fakoyejo.olalekan@nairametrics.com.

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First Bank Adesola Adeduntan, Global transactions get easier with Firstbank’s Card Offerings, FBNQuest Trustees Marks 40th Anniversary of preserving legacies in Nigeria, Ellah Lakes Plc announces close period for H1 2019 results The Board of Directors of Ellah Lakes Plc has announced that the company would be meeting on the 22nd October 2019 to consider, among other matters, the audited financial statements of the Company for the financial year ended 31 July, 2019. The Company also announced the commencement of a closed period with effect from 7 October 2019, until 24 hours after the Company’s Audited Financial Statements is filed with The Exchange. Top executives, directors, advisers, and many others at Ellah Lakes Plc have been barred from trading in the company’s shares ahead of the meeting of board of directors of Ellah Lakes. This was disclosed in a notification which was sent to the Nigerian Stock Exchange (NSE). https://www.nse.com.ng/Financial_NewsDocs/27720_ELLAH_LAKES_PLC._CORPORATE_ACTIONS_OCTOBER_2019.pdf The announcement is in line with rule 17.18 of Part 2 (Issuer’s Rules) of the NSE’s Rule Book (2015) which states that, “The period of closure shall be effective from fifteen (15) days prior to the date of any meeting of the Board of Directors proposed to be held to consider any of the matters referred to above or the date of circulation of agenda papers pertaining to any of the matters referred to above, whichever is earlier, up to twenty-four hours after the price-sensitive information is submitted to the Exchange. The trading window shall thereafter be opened. Every issuer shall notify the Exchange in advance of the commencement of each closed period.” Why this matters: The close period will allow the board to consider the company’s unaudited financial statements for the third quarter. Other company issues will also be discussed during the meeting of the Board of Directors. What is a close period? A close period is a period before the release of a company’s result or financial statement when of course, those with sensitive information are not allowed to trade on the stock. These individuals may include company directors, audit committee members, persons discharging managerial responsibility, employees and consultants with sensitive information. About the company: Ellah Lakes Plc is a fish farming company., FBN processed 237 million transactions in two weeks, amid COVID-19 lockdown, First Bank Holdings declares a Profit after Tax of N26 billion in Q1 2020

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