Connect with us
nairametrics
UBA ads

Business News

John Holt leads this week’s gainers as NSE closes on negative note 

The Nigerian Stock Exchange closed down 0.99% in the last trading week in August.m

Published

on

NSE John Holt

The Nigeria Stock Exchange (NSE) ended the week on a negative note for the month. This week, the All-Share Index closed at 27,525.81 basis points, down 0.69%. Year to date, the index is down 12.42%.

25 equities appreciated in price during the week, lower than 40 equities that appreciated in the previous week. 35 equities depreciated in price this week, as against 25 equities in the previous week, while 106 equities remained unchanged this week, higher than 101 equities recorded in the preceding week. 

UBA ADS

Here are the top 10 gainers and losers for the week. 

Top Gainers 

John Holt Plc 

NSE John Holt

John Holt Plc was the best-performing stock this week. The stock opened at N0.46 and closed at N0.55, up N0.09 or 19.6%. 

Year to date, the stock is up 25%. 

GTBank 728 x 90

Continental Reinsurance Plc  

Continental Reinsurance Plc opened at N1.30 and closed at N1.45, up N0.15 or 11.5%. 

Year to date, the stock is up 24.1%. 

[READ MORE: How to standout in a saturated market]

Unity Bank Plc  

Unity Bank Plc opened at N0.63 and closed at N0.70, up N0.07 or 11.1%. 

Year to date, the stock is down 34.6%. 

app

Mutual Benefits Assurance Plc 

Mutual Benefits Assurance Plc opened at 0.20 and closed at 0.22, up N0.02 or 10%. 

devland

Year to date, the stock is up 4.8%. 

Stanbic IBTC Holdings Plc 

Stanbic IBTC Holdings Plc opened at N35.00 and closed at N38.00, up N3.00 or 8.6% 

Year to date, the stock is down 20.8%. 

Tripple Gee and Company 

Tripple Gee and Company opened at N0.63 and closed at N0.68, up N0.05 or 7.9%. 

Year to date, the stock is up 11.7%. 

app

Consolidated Hallmark Insurance Plc 

Consolidated Hallmark Insurance Plc opened at N0.28 and closed at N0.30, up N0.02 at 7.1%. 

Year to date, the stock is down 21.1%. 

Associated Bus Company Plc 

Associated Bus Company Plc opened at N0.30 and closed at N0.32, up N0.02 at 6.7%. 

Year to date, the stock is up 10.3%. 

Africa Prudential Plc 

Africa Prudential Plc opened at N375 and closed at N4.00, up N0.25 at 6.7% 

Year to date, the stock is up 3.4%. 

Cement Company of North Nigerian Plc 

Cement Company of North Nigerian Plc rounded off the top gainers for the week. The stock appreciated by 6.4%, opening at N14.90 and closing at N15.85, up N0.95. 

Year to date, the stock is up 18.3%. 

[READ ALSO: Zenith Bank sets new date for dividend payout]

  

Top Losers 

Seplat Petroleum Development Company Plc 

Seplat Petroleum Development Company Plc was the worst-performing stock this week, shedding 18.8%. The stock opened the week at N490.00 and closed N397.70, down N92.30. 

Year to date, the stock is down at 37.9% and is trading at a year low. 

UACN Property Development Company Plc 

UACN Property Development Company Plc opened the week at N1.07 and closed at N0.88, down N0.19 or 17.8%. 

Year to date, the stock is down 53.9%. 

International Breweries Plc

International Breweries Plc opened the week at N11.50 and closed at N9.75, down N1.75 or 15.2%. 

Year to date, the stock is down 68%.

GlaxoSmithKline Consumer Nigeria Plc  

GlaxoSmithKline Consumer Nigeria Plc opened the week at N8.30 and closed at N7.20, down N1.10 or 13.3%. 

Year to date, the stock is down 50.3%. 

University Press Plc 

University Press Plc opened the week at N1.55 and closed at N1.37, down N0.18 at 11.6%. 

Year to date, the stock is down 37.2%.

[READ FURTHER: May & Baker lost over N500 million in six months]

Julius Berger Nigeria Plc  

Julius Berger Nigeria Plc opened the week at N20.60 and closed at N18.55 down N2.05 or 10%. 

Year to date, the stock is down 7.7%.

Champion Breweries Nigeria Plc 

Champion Breweries Nigeria Plc opened the week at N1.69 and closed the week at N1.53 down N0.16 or 9.5%. 

Year to date, the stock is down 23.1%.

Ecobank Transnational Incorporated 

Ecobank Transnational Incorporated opened the week at N8.00 and closed at N7.25, down N0.75 or 9.4% 

Year to date, the stock is down 48.2%.

Trans-Nationwide Express Plc 

Trans-Nationwide Express Plc opened the week at N0.77 and closed N0.70, down N0.07 or 9.1%. 

Year to date, the stock is down 7.7%. 

Honeywell Flour Mills Plc 

Honeywell Flour Mills Plc rounded up the top 10 losers for the week. The stock fell by 9.09%, opening at N1.10 and closing N1.00, down N0.10. 

Year to date, the stock is down 21.9%. 

[READ MORE: The Stock Market ends the week in positive territory]

 

 

 

Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Tech News

Tiktok’s In-App revenue surges amid lockdown

ByteDance Ltd’s brainchild, TikTok, together with Douyin ranking tops globally on mobile apps with the highest revenue generated for the month of April.

Published

on

TikTok announces $250 million pledge to aid combat coronavirus, Does YouTube stand a chance against TikTok?

The meme-making business has proven to be worth all the fuss, with TikTok, as well as its Chinese twin app, Douyin, ranking tops globally on mobile apps with the highest revenue generated for the month of April.

Sensor Tower, notes that just in the first quarter of this year, ByteDance Ltd’s brainchild, TikTok, together with Douyin which caters to the Chinese market, generated 315 million downloads globally, from the 187 million it had just a year earlier.

UBA ADS

The ranking, which was based on their in-app purchases, reveal a tenfold increase, as the companies garnered a whopping $78 million in revenue. The Chinese market is said to have contributed 86.6% of Douyin’s revenue, followed by the U.S market which contributed 8.2%.

This places them ahead of older names like Netflix & YouTube. As opposed to using subscriptions like these established brands, TikTok and Douyin allow users to purchase virtual currency to spend on their favorite content creators.

(READ MORE: Does YouTube stand a chance against TikTok?)

GTBank 728 x 90

While ByteDance is exploring the world of online commerce, it continues to rely on advertising as its primary income source. However, Emarketer projects that more than 75 million US social network users will make at least one purchase from a social channel in the year 2020.

 

Continue Reading

Business News

Sanwo-Olu to virtually inaugurate projects as he presents scorecard of first year in office

Some of the projects to be commissioned will be done virtually, while a few will be done on-site.

Published

on

COVID-19: Lagos State to begin curfew on Sunday to disinfect metropolis, Lagos state government discharges 7 more coronavirus patients, Lagos state will reverse to full lockdown, Sanwo-Olu to virtually inaugurate projects as he presents scorecard of first year in office

Lagos state governor, Babajide Sanwo-Olu, will virtually inaugurate housing, education, and road projects on May 29, as part of activities to mark his first year in office.

According to a report by NAN, the projects are part of the government’s efforts to renew infrastructure in critical sectors and to make the commercial centre a smart city.

UBA ADS

Some of the projects to be commissioned will be done virtually, while a few will be done on-site.

The projects

Lagos state Commissioner for Information and Strategy, Mr Gbenga Omotoso, listed some of the projects in an official statement. He said:

”In the education sector, Sanwo-Olu will conduct virtual inauguration of completed classroom blocks in Maya Secondary School, Ikorodu; Eva Adelaja Junior School, Bariga; and Saviour Primary School, Ifako-Ijaiye, among others. 

GTBank 728 x 90

“Virtual inauguration of completed works such as the Concrete Jetty in Baiyeku, Ikorodu, Aradagun-Ajido- Epeme Road in Badagry, and the Maryland Signalisation project also form part of the itinerary to commemorate the anniversary.”

(READ MORE: Lagos increases health workers’ allowances, commissions local production of face masks)

Omotoso also stated that the Governor would inaugurate the 360-unit Lagos Homes in Ikorodu, and then visit Igbogbo Baiyeku IIB Estate, Lekki, and the Courtland Villas on Femi Okunnu Estate during the week.

Plans for celebrating Children’s Day

 In a related development, Governor Sanwo-Olu will deliver an address on Wednesday May 27 to mark the children’s day celebration, and the 53rd anniversary of Lagos state.

Omotoso, however, noted that all celebrations would be kept on the low in reflection of the current challenges and realities of the COVID-19 pandemic.

app

Presenting one-year scorecards

The activities for the week are expected to begin with press briefings at J.J.T Park in Alausa on May 27, where members of the State Executive Council will present their scorecards in line with the six pillars of the state’s T.H.E.M.E.S Agenda.

devland

(READ MORE: Lagos Medical workers call off strike, as IG sends strong warning to security agencies)

According to the information commissioner, there will be two sessions of press briefings daily from May 27 to June 3, as the Governor considers it expedient to render a stewardship account of the last one year.

“Three special publications highlighting the achievements of the Babajide Sanwo-Olu administration and testimonies of beneficiaries of various initiatives of the government are slated for presentation to the public by the governor and his Deputy, Dr Obafemi Hamzat,” he added.

Continue Reading

Around the World

Central banks digital currencies pose a threat against the U.S dollar

In general, digital currencies could weaken the power of U.S. sanctions and the ability of the U.S. Treasury to watch illicit financial flows.

Published

on

Central banks digital currencies pose a threat against the U.S dollar.

A new report by America’s biggest bank, JP Morgan Chase, said the U.S dollar is being faced with a major threat as many  central banks’ digital currencies continue to gain traction.

Analysts, including Josh Younger, the head of U.S. interest-rate derivatives strategy and Michael Feroli, the chief U.S. economist, wrote in a report saying this:

UBA ADS

“There is no country with more to lose from the disruptive potential of digital currency than the United States.

This revolves primarily around U.S. dollar hegemony. Issuing the global reserve currency and the medium of exchange for international trade in commodities, goods, and services convey immense advantages.” 

Aditi Kumar and Eric Rosenbach also recently penned an opinion piece for Foreign Affairs in which they noted that “Just recently, America’s arch-rival China became the first major economy to carry a real test of a national digital currency.”

GTBank 728 x 90

(READ MORE: Why the strong dollar is giving Nigeria headache)

In general, electronic currencies could weaken the power of U.S. sanctions and the ability of the U.S. Treasury to watch illicit financial flows. A digital Chinese currency (yuan) combined with China’s developed electronic payment systems may give China more future influence than it ever bargained for.  

What Nigerians should know about Digital currencies

A digital currency is a cash balance recorded electronically on a store value card or other physical devices, which could someday replace the physical notes of the naira, for instance.

Digital currencies can be decentralized, that is where the control over the cash supply can come from diverse sources. Digital  currencies can also be centralized, where there is a midway point of control over cash supply, just like the way central banks work.

Central banks digital currencies pose a threat against the U.S dollar.

app

Although JP Morgan does not see the U.S dollar being overthrown as the world’s reserve currency anytime soon, experts warned that the U.S dollar dominance could weaken. This is because its processing trade settlement and the SWIFT system could make it more vulnerable.

devland

The American bank continued by saying:

“Offering a cross-border payment solution built on top of a digital dollar would, particularly if designed to be minimally disruptive to the structure of the domestic financial system, be a very modest investment to protect a key means to project power in the global economy,

“For high-income countries and the U.S. in particular, digital currency is an exercise in geopolitical risk management.” 

Federal Reserve Chairman Jerome Powell said months ago that the Federal Reserve was taking a critical view on the issues regarding a digital currency.

app
Continue Reading