Business News
Ecobank leads this week’s gainers as NSE closes on a positive note
The Nigerian Stock Exchange (NSE) received a serious boost as the market closed on a positive note this week.
The Nigerian Stock Exchange (NSE) received a serious boost as the market closed on a positive note this week. Last week, the All-Share Index closed at 26,925.29 basis points, down 0.47%. The NSE All-Share Index improved by 0.62% this week and closed at 27,800.17 basis points. Year to date, the index is down 11.55%.
40 equities appreciated in price during the week, higher than 15 equities that appreciated the previous week. 25 equities depreciated in price this week, as against 34 equities in the previous week, while 101 equities remained unchanged this week, lower than 119 equities recorded in the preceding week.
Here are the top 10 gainers and losers for the week.
Top Gainers
Ecobank Transnational Incorporated: Ecobank Transnational Incorporated was the best-performing stock this week. The stock opened at N6.00 and closed at N8.00, up N2.00 or 33.3%.
Year to date, the stock is up 42.9%.
Oando Plc: Oando Plc opened at N3.35 and closed at N4.05, up N0.70 or 20.9%.
Year to date, the stock is up 19%.
Fidelity Bank Plc: Fidelity Bank Plc opened at N1.40 and closed at N1.68, up N0.28 or 20%.
Year to date, the stock is up 17.2%.
UACN Plc: UACN Plc opened at N4.50 and closed at N5.35, up N0.85 or 18.9%.
Year to date, the stock is up 45.1%.
Law Union & Rock Insurance Plc: Law Union & Rock Insurance Plc opened at N0.33 and closed at N0.39, up N0.06 or 18.2%.
Year to date, the stock is up 35%.
C & I Leasing Plc: C & I Leasing Plc opened at N6.20 and closed at N7.30, up N1.10 or 17.7%.
Year to date, the stock is up 310%.
Honeywell Flour Mill Plc: Honeywell Flour Mill Plc opened at N0.96 and closed at N1.10, up N0.14 or 14.6%.
Year to date, the stock is up 14.1%.
United Capital Plc: United Capital Plc opened at N1.82 and closed at N2.06, up N0.24 or 13.2%.
Year to date, the stock is up 27%.
Transnational Corporation of Nigeria Plc: Transnational Corporation of Nigeria Plc opened at N0.91 and closed at N1.03, up N0.12 or 13.2%.
Year to date, the stock is up 22%.
CHAMS Plc: CHAMS Plc rounded up the top 10 gainers for the week. The stock appreciated by 13% opening at N0.23 and closed at N0.26, up N0.03.
Year to date, the stock is up 30%.
Top Losers
Okomu Oil Palm Plc: Okomu Oil Palm Plc was the worst-performing stock this week, shedding 18.1%. The stock opened the week at N49.00 and closed N40.15, down N8.85.
Year to date, the stock is down at 47.3% and is trading at a year low.
NCR Nigeria Plc: NCR Nigeria Plc opened the week at N5.80 and closed at N4.95, down N0.85 or 14.7%.
Year to date, the stock is down 17.5%.
LASACO Assurance Plc: Lasaco Assurance Plc opened the week at N0.33 and closed at N0.29, down N0.04 or 12.1%.
Year to date, the stock is down 3.3%.
Continental Reinsurance Plc: Continental Reinsurance Plc opened the week at N1.45 and closed at N1.30, down N0.15 or 10.3%.
Year to date, the stock is down 31.9%.
Tripple Gee and Company Plc: Tripple Gee and Company Plc opened the week at N0.70 and closed at N0.63, down N0.07 or 10%.
Year to date, the stock is down 18.2%.
MRS Oil Nigeria Plc: MRS Oil Nigeria Plc opened the week at N20.85 and closed at N18.80, down N2.05 or 9.8%
Year to date, the stock is down 26.9%.
Cadbury Nigeria Plc: Cadbury Nigeria Plc opened the week at N10.30 and closed at N9.30, down N1.00 or 9.7%.
Year to date, the stock is down 7%.
[READ ALSO: May & Baker, United Capital Plc make best stocks as NSE closes negatively]
Mutual Benefits Assurance Plc: Mutual Benefits Assurance Plc opened the week at N0.22 and closed at N0.20, down N0.02 or 9.1%.
Year to date, the stock is down 4.8%.
Unity Bank Plc: Unity Bank Plc opened the week at N0.69 and closed at N0.63, down N0.06 or 8.7%.
Year to date, the stock is down 41.1%.
Linkage Assurance Plc: Linkage Assurance Plc rounded up the top 10 losers for the week. The stock fell by 7.7%, opening at N0.52 and closing N0.48, down N0.04.
Year to date, the stock is down 33.3%.
[READ ALSO: Financial sector dominates gainers chart this week]
Coronavirus
Covid-19: Africa prepared for possible second wave – Africa CDC
Africa CDC has confirmed its preparedness for the possibility of a second wave of COVID-19 pandemic in Africa.
The Africa Centres for Disease Control and Prevention has confirmed its preparedness for the possibility of a second wave of COVID-19 pandemic in Africa, especially with the current upsurge of active cases.
This disclosure was made by the Director, Africa CDC, Dr. John Nkengasong, during the teleconference Weekly Press Briefing on #COVID-19 on November 26, 2020.
According to him, Africa CDC has started to distribute 2.7 million rapid antigen tests with the hope that by mid-2021, the health officials would have been able to vaccinate about 60% of the continent’s population with one of the several promising new vaccines — it all depends on the cooperation and support of the continent’s leaders.
(READ MORE: Reps Committee warns MDAs against failure to render accounts to Auditor-General)
What they are saying
According to Dr. Nkengasong: “To achieve 60% vaccination, we will need to mobilise up to about $10 to $12 billion, including the cost of buying the vaccines and the cost of delivering the vaccines. So, that is the 60% mark that we really want to achieve. And I just really want everyone on this platform and our partners to understand that as a continent, that is our aspiration and goal.”
As the end-of-year holidays are around the corner, Dr. Nkengasong advised: “Do not relent in wearing masks. One message that is emerging across the visits we are conducting across the continent is that people are not masking enough. And in some settings, absolutely it seems like they are not masking at all. And that is extremely dangerous.”
What you should know
- As of November 26, 2020, Africa had 2,106,931 confirmed caseloads, with a death toll of 50,628 and 1,781,744 persons recovered.
- The Southern African region is the worst hit both in terms of the number of confirmed positive cases and deaths.
- South Africa, Morocco, Egypt, and Ethiopia are the most affected countries in terms of number of positive cases.
- South Africa is presently the worst hit with active cases of 775,502.
Corporate Press Releases
elev8 launches new Nigeria Academy, to host event series on Nigeria’s digital future
The event will bring together experts in business, digital technology and economic development to amplify Nigeria’s digital dialogue.
Global technology training company elev8 is delighted to announce the launch of its new academy in Lagos with a series of online events focused on digital transformation in Nigeria.
The Knowledge-based Economy – A Pathway to Nigeria’s Digitally Enabled Future is an opportunity for business leaders to participate in Nigeria’s digital dialogue with industry experts, technology trailblazers and government leaders.
C-suite executives and digital leaders across the country are invited to join elev8 for a special series of events exploring the impact of new technologies and digitalization, as well as the potential risks to economic growth, such as Covid-19.
Digital enablement is increasingly becoming a hot topic for global businesses. In the next few years, the digital economy is projected to be responsible for a quarter of global GDP.
Across the world, businesses are accelerating digital adoption to establish a competitive edge, drive growth and ensure efficiency. For Nigeria to compete on the world stage, investment in new technologies and skills is essential in supporting a transition to a knowledge-based economy.
Digital Event: The Knowledge-based Economy – A Pathway to Nigeria’s Digitally Enabled Future
30 November – 3 December
The event will commence with the release of a cutting-edge research report on November 30. Produced in conjunction with BusinessDay Research and Intelligence Unit.
The report examines the impact of digital transformation on Nigeria’s economic growth over the next three years.
On December 1, participants will gain valuable insight on the digital strategies and tactics deployed by leading market players in an exclusive masterclass, Digitize or Die, hosted by award-winning technology and digital innovator, Sabine VanderLinden.
The event will close on Thursday, December 3 with a live digital dialogue, featuring an expert panel of digital specialists, government figures, and business leaders, looking at the ways that digitization will impact Nigeria’s economic development.
To find out more, or register for the event, please visit: www.elev8me.com/nigeria20
Companies
ValuAlliance distributes value fund of N10 per unit for H1, 2020
ValuAlliance Value Fund has declared the distribution to unit holders, the sum of N10.00/unit for the financial year ended June 30, 2020.
ValuAlliance Value Fund (“Value Fund” or the “Fund”), formerly called the SIM Capital Alliance Value Fund, has declared the distribution to unit holders, the sum of N10.00/unit for the financial year ended June 30, 2020.
This is according to a notification by the firm, sent to the Nigerian Stock Exchange market and seen by Nairametrics.
The latest distribution indicates a decline of N1/unit when compared to its distribution in the corresponding period last year.
READ MORE: SEC reinstates DEAP Capital’s Board
The key highlights of the recent notification include:
- Annual General Meeting Date: 21st December 2020
- AGM Venue: 33A Alfred Rewane (Kingsway) Road, Ikoyi, Lagos, Nigeria
- Proposed Distribution: ₦10/unit
- Qualification Date: 9th December 2020
- Closure of Register Date: 10th December 2020
- Payment Date: 23rd December 2020
READ: Exxon Mobil to cut 14,000 jobs as pandemic hit oil demand, prices
What you should know
- The Value Fund is a closed-end Fund registered and regulated by the Securities and Exchange Commission (SEC), whose units are listed on the main board of the NSE.
- The Value Fund for the year ended June 30, 2020 achieved a growth of 2.83% Year-on-Year, with a cumulative return of 125.32% since inception, which translates to a 9-year Internal Rate of Return (IRR) of 12.06%.
Explore Data on the Nairametrics Research Website
Daily Parallel Market Exchange Rate – ₦490/$1
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No unregistered sim on our networks since September 2019 deactivation – Pantami
COVID-19 Update in Nigeria
Daily Parallel Market Exchange Rate – ₦490/$1
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