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Business News

GSK, Courteville, lead worst-performing stocks on Tuesday

GlaxoSmithKline Consumer Nigeria Plc, led the losers chart in today’s trades on the floor of the Nigerian Stock Exchange (NSE).

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Governor Fayemi explores investment options with the capital market, Nigerian Stock Exchange, Top 10 stockbrokers trade N120.4 billion worth of stocks in November , Law Union & Rock Insurance Plc Announces Notice of Board Meeting and Closed Period, NSE Hosts First Virtual Automated Trading System (ATS) Broker Certification Training Programme, Steroids from GTBANK, ZENITH Lift Nigerian bourse, as investors gain N94.2 billion, Nigerian bourse close flat, triggered by low market liquidity, Industrial index down by 5.7%, as shares of BUA, Lafarge, Dangote, others decline on NSE

GlaxoSmithKline Consumer Nigeria Plc, Courteville Business Solutions Plc, Union Diagnostic & Clinical Services Plc, Chams Plc, and AIICO Insurance Plc were the top losers in today’s trades on the floor of the Nigerian Stock Exchange (NSE).

GlaxoSmithKline was the worst-performing stock, dropping by 9.86% to close at N6.40, followed by Courteville with 9.09% to close at N0.20. Union Diagnostic also reduced by 8.33% to close at N0.22, while Chams fell by 7.69% to close at N0.24.

AIICO Insurance rounded off the top five losers for the day. The stock shed 7.35% to close at N0.63.

However, trading session ended in negative territory as the All-Share Index closed at 26,513.65 basis points, down by 0.16%.

[READ ALSO: Custodian, Access bank, Lafarge lead top trades on the NSE]

Top Gainers: Nigerian Aviation Handling Co Plc earned the best-performing stock, as it gained 5.15% to close at N2.45, followed by Cement Company Northern Nigeria Plc which gained 4.28% to close at N15.85. United Capital Plc gained 3.45% to close at N2.10, Fidson Healthcare Plc and FBN Holdings Plc gained 1.27% to close at N4, and 0.95% to close at N5.30 respectively.

Top Trades by Volume: Access Bank Plc was most actively-traded stock today with 27.28 million shares valued at N201.51 million traded in 176 deals. Guaranty Trust Bank Plc was next with 24.6 million shares valued at N655.82 million traded in 166 deals, followed by FCMB Group Plc with 22.96 million shares valued at N36.75 million traded in 43 deals. Global Spectrum Energy Services Plc was next with 20 million shares valued at N94 million traded in 2 deals.

sound, C & I Leasing Plc, NSE launches factbook, Top 10 stockbroking firms

Nigerian Stock Exchange

Transnational Corp of Nigeria Plc rounded off the top five most actively traded stocks today with 14.45 million shares valued at N14.61 million traded in 43 deals.

Corporate Actions

Consolidated Hallmark Insurance Plc announced that it would observe a close period of trading from Tuesday, October 15, 2019, until 24 hours after the unaudited financial results for the period ended September 30, 2019, are released to the public.

Seplat Petroleum Development Plc also announced that it will acquire Eland Oil & Gas.

Infinity Trust Mortgage Bank Plc released its interim financial statements for the 9 months period ended 30 September 2019.

[READ ALSO: NASCON, Forte Oil, lead best performing stocks on Tuesday]

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Cryptocurrency

PayPal is buying a Crypto security startup for less than $200 million

PayPal is set to outrightly purchase a crypto-security firm, Curv as part of its campaign in building its crypto ecosystem.

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Paypal

PayPal is set to outrightly purchase a crypto-security firm Curv as part of its campaign in building its crypto ecosystem, the company disclosed today.

According to a report credited to CNBC, the deal is estimated to be worth less than $200 million, it’s expected to close before June this year.

The company’s stock price however recorded some selling pressures at the time of writing amid rising U.S Treasury yields and greenback keeping global investors on their toes.

READ: CBN and cryptocurrency ban

The crypto startup about to be acquired by PayPal provides companies with Crypto security technology via the cloud. PayPal revealed that the purchase would help its expansion on supporting crypto.

“The acquisition of Curv is part of our effort to invest in the talent and technology to realize our vision for a more inclusive financial system,” PayPal’s Jose Fernandez da Ponte said in a statement.

In a press statement seen by Nairametrics, Dan Schulman, president, and CEO, PayPal, gave key insights on why the global payment company was going crypto; The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of; financial inclusion and access, efficiency, speed, the resilience of the payments system and the ability for governments to disburse funds to citizens quickly.

READ: U.S customers can now buy Cryptos with Paypal

“Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption, and inter-operability of these new instruments of exchange,” he said.

Furthermore, he said, “We are eager to work with central banks and regulators around the world to offer our support and to meaningfully contribute to shaping the role that digital currencies will play in the future of global finance and commerce.”

This offering was made possible through a partnership with Paxos Trust Company, a regulated provider of crypto services and products.

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Corporate Press Releases

Transcorp Hotels launches Aura, an online marketplace for accommodation and experiences

Nigeria’s largest hospitality brand launches a new platform for booking vacation homes, holiday lets, and experiences.

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Dupe Olusola

Africa’s leading hospitality brand Transcorp Hotels Plc. has announced the launch of Aura, a new digital platform through which people can book accommodation, restaurants, and experiences.

The new brand, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

“It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc., Dupe Olusola said.

“For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.

The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.

Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”

“To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.”

Working with thousands of partners across Nigeria and different cities in Africa, Transcorp Hotels Plc. is building the continent’s largest platform for people-driven hospitality. While travellers enjoy the right selections at the best prices on Aura, hosts can also earn a lot of money by receiving guests in their unoccupied homes and sharing the local culture with them.

For travellers who would rather stay in hotels, Aura also has a great selection of some of the best hotels in every city.

With the launch of Aura, Transcorp Hotels Plc. has further cemented its leadership in the hospitality industry and reinforced its commitment to innovation and superior guest experience across different demographics.

Guests and hosts can sign up at aura.transcorphotels.com to start booking or hosting. The service is currently available in Nigeria only, but the company said plans are already in place to expand to major cities in Africa.

 

Transcorp Hotels Plc is one of Africa’s leading hospitality companies, committed to redefining service standards across the continent while remaining truly and authentically African.

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www.transcorphotels.com

Aura by Transcorp

Aura is Africa’s best platform for connecting travellers with great accommodation, good food, and memorable experiences. The platform is also an avenue for people with unoccupied homes, hotels, restaurants, or different skill sets that may interest others can earn an income by becoming hosts.

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