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Business News

NSE closes bearish as Guaranty Trust Bank trades large volumes

The Nigerian Stock Exchange (NSE) ended Thursday’s trading session in negative territory. The All-Share Index closed at 27,252.72 basis points, down 0.25%.

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Nigerian Stock Stock, Investors lose N26 billion as ASI dipped 0.22% on Wednesday,Bears return to global equity markets, Trump’s help boost Crude oil

The Nigerian Stock Exchange (NSE) ended Thursday’s trading session in negative territory. The All-Share Index closed at 27,252.72 basis points, down 0.25%. Year to date, the index is down by 13.29%.

Top Gainers

UAC of Nigeria Plc was the best-performing stock today. The stock gained 10% to close at N5.50. UACN Property Development Company Plc also gained 10% to close at N0.99. Cadbury Nigeria Plc gained 6.45% to close at N9.90. Okomu Oil Palm Plc also gained 6.13% to close at N44.15. Nigerian Aviation Handling Company Plc rounded off the top five gainers for today. The stock gained 6.12% to close at N2.60.

Top Losers

On the flip side, Ikeja Hotel Plc was the worst-performing stock, declining by 9.30% to close at N1.17. Honeywell Flour Mill Plc fell by 7.07% to close at N0.92. PZ Cussons Plc fell by 5.08% to close at N5.60. Fidelity Bank Plc fell by 3.75% to close at N1.54. LASACO Assurance Plc rounded off the top five losers for the day. The stock shed 3.57% to close at N0.27.

[READ ALSO: Seplat reports 66.6% increase in PAT in Q1 2019]

Top Trades by Volume

Guaranty Trust Bank Plc was the most actively-traded stock today. 35 million shares valued at N925.8 million were traded in 141 deals. FBN Holdings Plc was next with 12.2 million shares valued at N55 million traded in 297 deals, followed by Guinness Nigeria Plc with 10 million shares valued at N377.7 million traded in 41 deals.

Zenith Bank Plc was next with 8.9 million shares valued at N156.6 million traded in 222 deals. Transnational Corp of Nigeria Plc rounded off the top five most actively traded stocks today with 6.2 million shares valued at N6.2 million traded in 46 deals.

Corporate Actions

British airways

Oando Plc notified the general public that the NNPC/NAOC/OANDO Joint Venture (NNPC 60%, Oando 20% and NAOC the operator 20%), had made a significant gas and condensate find in the deeper sequences of the Obiafu-Obrikom fields, in OML61, onshore Niger Delta.

Tripple Gee & Company Plc notified the general public that its 29th Annual General Meeting would hold at the MUSON Center, 8/9, Marina Road, Onikan, Lagos State on September 16, 2019, by 10 am.

[READ ALSO: SAHCO is the new monopoly at Bayelsa International Airport]

Stanbic 728 x 90

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Appointments

Standard Bank Group appoints Yinka Sanni as new Chief Executive of Africa Regions

Yinka Sanni has been appointed as Standard Bank Group’s Chief Executive of Africa Regions.

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Stanbic IBTC declares N10.4 billion interim dividend

The Standard Bank Group has announced the appointment of Yinka Sanni as the new Chief Executive of Africa Regions.

This announcement was made by the Group in a post shared via its official LinkedIn account. The bank revealed that Sanni will be replacing Sola David-Borha who is retiring after 31 years of distinguished service to the group.

His appointment will play an integral role in driving the growth of the Standard Bank Group in Africa further in the years ahead.

He is expected to build on the work of David-Borha, a renowned professional who played a key role in growing the Group’s Africa Regions portfolio in terms of capacity, market share and contribution to the group’s headline earnings.

What you should know

  • Yinka Sanni is a Fellow of the Chartered Institute of Stockbrokers of Nigeria.
  • He has served in key positions within the Stanbic Group, as the Chief Executive of Stanbic IBTC Holdings PLC, Chief Executive of Stanbic IBTC Bank PLC, Deputy Chief Executive of the Bank and Executive Director, Corporate & Investment Banking of the Bank.
  • He was also the pioneer Chief Executive, Stanbic IBTC Pension Managers Limited and the pioneer Chief Executive, Stanbic IBTC Asset Management Limited.

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Corporate Press Releases

P2P crypto marketplace, Bitzlato (BZ) partners with Lemonade Finance to ease money transfers across Africa

The partnership will enable users on the BZ platform to buy and sell bitcoins and other cryptocurrencies on the marketplace at zero cost.

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Bitzlato (BZ), the latest P2P Crypto Exchange to enter the African market, has added Lemonade.Finance, a borderless payment platform for Africa, as a payment method to its platform.

Lemonade Finance provides 100% digital payment experience for Africans to seamlessly participate in the global economy from anywhere in the world without any hassle or regardless of where they are from.

The partnership will enable users on the BZ platform to buy and sell bitcoins and other cryptocurrencies on the marketplace at zero cost.

Users in Nigeria will now be able to send Nigerian Naira (NGN) to MPESA at 0% transaction fee.

Speaking about this partnership, Ridwan Olarere, CEO, Lemonade Finance, said:

“We are excited to partner with such an innovative company like Bitzlato to connect more Africans through payment. Many Africans living on the continent face many difficulties when making payments as remittance companies charge high fees and are time-consuming. We are now providing our users with a cost-effective way of sending money to Ghana, Kenya, Uk and Europe.”

Commenting on the opportunities this provides to crypto traders on the BZ platform, Mike Lunov, CEO, BZ, said:

“This partnership will provide a much-needed gateway that enables the markets we serve to seamlessly interact with each other in a borderless and open environment. We seek to break the barriers that presently exist for cross border transfers and enable our users to generate value through the opportunities that accrue from cryptocurrencies trading. The innovation exhibited by the Lemonade platform, and the brilliance of its team assures users of top-notch, secure and reliable transfers going forward.”

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According to BZ, during the first month, BZ will refund commissions in manual mode while using Lemonade Finance, but this will be automated at the end of this period.

Following this partnership, BZ is now looking to partner with merchants in the crypto space especially in Nigeria, Ghana, South Africa that have a steady flow of Nigerian Naira (NGN) to increase liquidity on the platform.

British airways

Take advantage of the new Lemonade Finance payment method on BZ, which offers zero transactional fees for money transfers from Nigeria into Kenya. Sign up on BZ and start trading crypto easily today.

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