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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

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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. 

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%. 

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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]

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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%. 

Mutual Benefits Assurance Plc 

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

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% 

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Year to date, the stock is down 20.8%. 

Stanbic IBTC

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%. 

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. 

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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.

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Coronavirus

Covid-19: African Union in talks with China and Russia over vaccine

The AU and Africa CDC have revealed that they have reached out to both China and Russia over the possibility of vaccine partnerships.

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Covid-19: African Union in talks with China and Russia over vaccine

The Africa Centres for Disease Control and Prevention and the African Union announced they have been in talks with China and Russia over the possibility of vaccine partnerships to ensure that Africa is not left behind when vaccines become available.

This was disclosed by John Nkengasong, Africa CDC Chief, at the Bloomberg Invest Africa online conference.

Mr. Nkengasong said that Africa would not limit itself to only one vaccine partner and that Africa was willing to work with as many partners as possible to provide a vaccine for its 1.2 billion people.

“We are not limiting ourselves to any particular partner. As a continent of 1.2 billion people, we are willing to work with any partner who adheres to our strategic plan for vaccine development and access in Africa.

“The continent is taking the access and development of vaccine very, very seriously. We really need to see clinical trials being done on the continent, so they address issues like background infections from other diseases.”
He disclosed that the Africa CDC resumed talks last week with China, to discuss partnerships with Chinese Drug Manufacturers and also clinical trials in Africa. He added that Russia has been approached with a similar plan.

He said that the WHO Covax programme only covers 20% of the population, but Africa will need 60% of its population vaccinated to achieve herd immunity.

There are multiple avenues being explored now to make sure Africa has the appropriate doses of vaccines and also that we have that in a timely fashion, not in a delayed manner,” Nkengasong said.

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He revealed that the AFREXIM Bank agreed to finance vaccine procurement with $5 billion and is waiting to see how much it will receive from World Bank’s $12 billion vaccine procurement fund for developing nations.

What you should know 

Nairametrics reported earlier this month that Pfizer Inc. disclosed that its experimental vaccine, which is jointly developed with BioNTech, was more than 90% effective in preventing COVID-19, based on initial data from a large study in the ongoing phase 3 trials.

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(READ MORE: COVID-19: AstraZeneca vaccine could be 90% effective against the virus)

Last week, a pharmaceutical company, Moderna Inc., stated that its COVID-19 vaccine was 94.5% effective in treating coronavirus, after preliminary analysis of a large late-stage clinical trial.

The G-20 nations also announced a pledge to pay for vaccine distribution to developing nations that could not afford it. The leaders also unveiled a debt extension programme to developing nations during the weekend’s G-20 summit.

The Federal Government of Nigeria also announced through the Ministry of Health, that it would inaugurate an 18-man Covid-19 Vaccine Task Team, in a bid to ensure vaccine security In Nigeria.

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Coronavirus

Covid-19: EU considers skipping vaccine patents to boost vaccine access

The EU has disclosed plans to increase its access to Covid-19 vaccines by offering financial incentives to vaccine production companies.

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AstraZeneca suspends COVID-19 vaccine final stage trial over safety concerns, COVID-19: J&J starts vaccine trials on humans after success on monkeys

The European Union says its planning emergency measures to increase its access to Covid-19 vaccines including sidestepping patent rights and offering financial incentives to vaccine production companies to move production to Europe.

This was revealed in an EU document on Wednesday and reported by Reuters. The Document says the EU may create an emergency coordination mechanism to be issued at short notice when the EU needs a vaccine license, which is different from fully patent waivers, discussed in the WTO last week.

The EU says the new move will ensure faster procedures during a pandemic, which will enable generic production in the EU without the consent of patent holders.

The Commission sees the need to ensure that effective systems for issuing compulsory licenses are in place, to be used as a means of last resort and a safety net, when all other efforts to make IP (intellectual property) available have failed,” the EU’s document said.

The EU’s actions may be triggered by its inability to access the antiviral drug, remdesivir, during the pandemic, as the United States ordered most of the stock.

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The EU also disclosed that it will begin a consultation process with pharmaceutical companies next year to address issues in its pharmaceutical value chains. They added that measures could be imposed to encourage manufacturers to move pharmaceutical production to Europe from China and India.

“The Commission calls on member states to ensure that the tools they have are as effective as possible; for instance, by putting in place fast-track procedures for issuing compulsory licenses in emergency situations,” the EU said.

They added that it is urgent “to assess whether manufacturing capacity for certain critical medicines may be required in the EU.”

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“We need to be able to rely on ourselves, not on others,” the Commission’s Vice President, Margaritis Schinas said. He disclosed that the EU is working on more compliance with drug supply need and increased stock levels by 2022.

What you should know

This comes as surprise considering the EU rejected a World Trade Organization (WTO) proposal last week to waive the intellectual property rights needed for the manufacturing of Covid-19 vaccines. The waiver would have made the vaccine access cheaper for developing nations.

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ENDSARS

#EndSARS Sanctions: Nigeria has reached out to the UK Government – Foreign Minister

Onyeama has stated that the FG has reached out to the UK Government over the parliamentary debate on the #EndSARS protests.

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Chinese Visa Restriction: Ministry of Foreign Affairs issues clarification, London evacuation flight rescheduled to July 14

The Minister of Foreign Affairs, Mr Geoffrey Onyeama, said that the Nigerian Government has reached out to the UK Government over the parliamentary debate on the #EndSARS protests.

The Minister disclosed this to Newsmen at the Federal Executive Council (FEC) meeting on Thursday, which was recorded by Channels TV.

He added that the UK Parliament did not speak for the UK government, and that the UK had heard the Nigerian government’s side regarding the incident at Lekki.

“On the issue of the UK parliament, yes, we have reached out to the UK government on this question. The meeting that took place was of Parliamentarians, they don’t speak for the UK government and the UK government which acts for the United Kingdom has also heard the side of the (Nigerian) government regarding everything that happened.

“So we are in touch with them and engaging with them. But, of course, as in any democracy, the Members of Parliament are able to also air their views, but what is important is that a balanced picture is made available to them all before they take any decision,” Onyeama said.

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What you should know 

Nairametrics reported earlier this week that the British Parliament had announced it would consider a petition by some groups and individuals, asking it to apply sanctions against the Nigerian government and officials for alleged human rights violations during the #EndSARS protest and Lekki shooting incident.

Also, the presidency earlier disclosed that the Vice President, Yemi Osinbajo, had a meeting with the UK Special Envoy for Humanitarian Affairs, Nick Dyer, accompanied by the UK High Commissioner to Nigeria.

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