Connect with us
nairametrics
UBA ads

Business News

Nigerian Stock Exchange Weekly Report

A total turnover of 1.534 billion shares worth N11.267 billion in 18,928 deals was traded last week ending 3rd April 2020 by investors

Published

on

Stock, stock, trading, Nigerian-stocks, Nigerian Stock Exchange Weekly Report

A total turnover of 1.534 billion shares worth N11.267 billion in 18,928 deals were traded last week ending 3rd April 2020 by investors on the floor of the Nigerian stock exchange. This is a contrast to a total of 1.452 billion shares valued at N14.91 billion that exchanged hands last week in 21,828 deals.

The Financial Services industry (measured by volume) led the activity chart with 1.105 billion shares valued at N7.100 billion traded in 12,225 deals; thus contributing 71.99% and 63.02% to the total equity turnover volume and value respectively.

UBA ADS

The Industrial Goods followed with 218.471 million shares worth N1.236 billion in 1,610 deals. The third place was the Consumer Goods industry, with a turnover of 134.599 million shares worth N1.855 billion in 2,332 deals.

Trading in the Top Three Equities namely, Sterling Bank Plc., Zenith Bank Plc., and Meyer Plc. (measured by volume) accounted for 752.359 million shares worth N3.247 billion in 4,039 deals, contributing 49.03% and 28.82% to the total equity turnover volume and value respectively.

(READ MORE: Nigerian bourse down 0.14%, trading volume drops due to NSE’s remote trading)

GTBank 728 x 90

INDEX MOVEMENT 

The NSE All-Share Index and Market Capitalization both depreciated by 3.51% to close the week at 21,094.62 and N10.994 trillion respectively.

All other indices finished lower with the exception of NSE Oil/Gas which appreciated by 2.33% while NSE ASeM Index closed flat.

 SUMMARY OF PRICE CHANGES 

Fifteen (15) equities appreciated at price during the week, lower than Thirty-four (34) in the previous week. Thirty-six (36) equities depreciated in price, higher than Thirty (30) equities in the previous week, while One hundred and twelve (112) equities remained unchanged, higher than Ninety-nine (99) equities recorded in the preceding week.

 TOP GAINERS FOR THE WEEK 

app

GLAXO SMITHKLINE CONSUMER NIG. PLC up 24.68% to close at N4.80

LIVESTOCK FEEDS PLC. up18.64% to close at N0.70

beyondperception

CADBURY NIGERIA PLC. up12.90% to close at N7.00

Coronation ads

BERGER PAINTS PLC up 9.84% to close at N6.70

11 PLC up 9.83% to close at N160.90

thegreenafricaproject 300x250

MAY & BAKER NIGERIA PLC.  Up 9.74% to close at N2.14

NEM INSURANCE PLC up 9.52% to close at N2.07

GTBank 728 x 90

MEYER PLC. up 8.70% to close at N0.50

UNION DIAGNOSTIC & CLINICAL SERVICES PLC up 7.69% to close at N0.28

CHAMPION BREW. PLC. 0.75 0.80 0.05 6.67% to close at N0.80

(READ MORE: NSE loses N2 trillion in value in Q1 2020, as oil plunges 65% QoQ)

GTBank 728 x 90

TOP LOSERS FOR THE WEEK 

app

NIGERIAN BREW. PLC.  down13.73 % to close at N22.00

ECOBANK TRANSNATIONAL INCORPORATED down 12.36% to close at N3.95

CUSTODIAN INVESTMENT PLC down 11.02% to close at N5.25

GUINNESS NIG PLC down 9.92% to close at N22.70

SKYWAY AVIATION HANDLING COMPANY PLC down 9.89% to close at N2.37

C & I LEASING PLC.  down 9.68% to close at N5.60

WEMA BANK PLC.  down 9.62% to close at N0.47

JAIZ BANK PLC down 9.43% to close at N.048

INTERNATIONAL BREWERIES PLC. down 9.26% to close at N4.90

UNITED CAPITAL PLC down 9.17% to close at N2.18

DEBT 

A total volume of 78,672 units of 4.131% FGS MAR 2022 and 206,307 units of 5.131% FGS MAR 2023 was admitted to trading at the Exchange on the 3rd April 2020.

Additional volumes of 55,000,000, 65,000,000 and 40,000,000 units were added to the following bonds 12.75% FGN APR 2023, 14.55% FGN APR 2029 and 14.80% FGN APR 2049 respectively on Monday 30th of March, 2020.

first bank

Olumide Adesina is a French-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. A member of the Chartered Financial Analyst Society. Financial Market; Yale University, Behavioral Finance; Duke University. You can follow Olumide on twitter @tokunboadesina or email [email protected]

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.

Business

Update: FG extends second phase of eased lockdown by another 4 weeks

This is the third time the second phase of the eased lockdown is being extended.

Published

on

President Buhari may sign 2020 Budget tomorrow, President Buhari approves N37 billion for National Assembly renovation, President Buhari appoints Sarki Auwalu to head DPR , FG may stop interstate and inter-town travels, COVID-19: President salutes Elumelu, Dangote, Atiku, Banks, others for support, Naira export earnings, Covid-19: FG to set up N500 billion intervention fund, sovereign wealth, FG issues guidelines on implementation of gradual easing of lockdown nationwide

President Muhammadu Buhari has approved the extension of the second phase of eased lockdown by another 4 weeks.

According to a monitored media report, this is the third time the second phase of the eased lockdown which is currently observed across the country is being extended

UBA ADS

The disclosure was made by Boss Mustapha, the Secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19, during the Task Force briefing in Abuja on Thursday.

The Federal Government had on July 27 extended the current lockdown by an additional one week due to the Sallah celebration on July 29.

Mustapha disclosed that the extension followed the briefing and recommendation to President Muhammadu Buhari on Wednesday on the progress made so far by Presidential Task Force in containing the spread of Covid-19 and keeping citizens safe from contracting the virus.

GTBank 728 x 90

The PTF Chairman noted that they made a couple of recommendations to the president and the extension of the current phase of ease of lockdown was one of the ones approved.

He revealed that in the recommendation that was made to the president about retaining the current phase of the lockdown, the PTF made some minor changes to address the economic, socio-political concerns of Nigerians.

Under the current extended second phase, the current curfew of 10 pm to 4 am is still in force, civil servants on grade level 12 and above are now to resume work fully and close by 4 pm and no longer 2 pm that currently operates. He, however, said that virtual meetings by government officials and parastatals will be maintained.

He also said that while the restrictions on recreational parks have been lifted for non-contact physical activities, the ban on entertainment centres will be sustained.

Mustapha explained that despite the accomplishments and challenges, some challenges continue to pose a considerable concern. Some of them include increased non-compliance with non-pharmaceutical prevention measures, lack of enforcement of necessary guidelines issued to preserve lives, insufficient engagement by some states with the national response, and lingering concern about the gap between identified cases and the actual burden of disease.

He also talked about apathy, fatigue and disbelief combining to challenge public enlightenment, compliance and behaviour change.

app

The SGF said that to address these challenges, the PTF decided that it was important to ensure that restrictions were not completely relaxed in order to control transmission.

He noted that it was also important that at this Community Transmission Phase of the pandemic, sub-national governments should step up to take more responsibilities by owning the response.

beyondperception

The various state authorities and the Federal Capital Territory were mandated to enforce non=pharmaceutical guidelines, the use of face masks in public appearances and places.

Coronation ads

first bank
Continue Reading

Corporate deals

Just In: Access Bank acquires Zambian Cavmont Bank Ltd

The statement from Access Bank says that the deal is a highly complementary transaction.

Published

on

Access Bank, Scam Alert: Access Bank issues warning to customers over fraudulent acts , Director, West Africa region, IE, Onyekachi Eke, Access Bank lists N30 billion bonds on NSE , Access Bank, Zenith Bank Plc, Access Bank Plc and United Bank for Africa Plc, Zenith Bank Plc, Access Bank Plc and United Bank for Africa Plc, A new BVN guideline to curb e-fraud is coming soon - CBN announces , Access Bank donates 66 laptops to children in underserved communities, Access Bank postpones closed period for 2019 Year-End financial statement, Access Bank dispels rumour about its CEO being arrested, Access Bank set to establish subsidiary in Cameroon after acquiring Kenyan bank, Access Bank finally acquires Kenyan bank, Transnational Bank Plc, Herbert Wigwe: We are clamping down on malaria with the Malaria-To-Zero Initiative, Access Bank to list N15 billion green bond on Luxembourg Stock Exchange 

Access Bank Zambia, a subsidiary of Nigeria’s Access Bank Plc, has reached a ‘definitive agreement’ with Cavmont Capital Holdings Zambia Plc (CCHZ) to acquire Cavmont Bank Ltd.

The tier-1 bank announced this latest development regarding the merger talk which has been ongoing for a while, in a statement that was signed by its Company Secretary (Sunday Ekwochi) and issued to the Nigerian Stock Exchange earlier today.

UBA ADS

According to the statement by Access Bank, the deal is a highly complementary transaction that is expected to combine Access Bank Zambia’s wholesale and trade finance capabilities with Cavmont Bank’s retail and commercial banking operations.

The proposed transaction which, in the meantime is still subject to relevant shareholder and regulatory approvals, is also expected to better position Access Bank Zambia as one of the top 10 banks in the Southern African country.

Customers from the enlarged bank will benefit from greater security offered by what will be one of the most capitalized banks in Zambia with a more diversified product and service offering and a broader geographical footprint and infrastructure.

GTBank 728 x 90

Access Bank on its notification stated, ‘’Subsequent to our announcement on July 8, 2020, the Board of Access Bank Plc announces today that its subsidiary, Access Bank (Zambia) Limited, has entered into a definitive agreement with Cavmont Capital Holdings Zambia Plc (CCHZ) regarding proposed acquisition of Cavmont Bank Limited, a subsidiary of CCHZ and subsequent merger of Cavmont Bank’s operations into Access Bank Zambia. The proposed transaction, which remains subject to relevant shareholder and regulatory approvals, will position the enlarged Access Bank Zambia as one of the top 10 banks in Zambia and create the momentum to advance its strategic objectives.’’

‘’Under the terms of the agreement, Access Bank Zambia will acquire the entire issued ordinary share capital, assets and liabilities of Cavmont Bank while Capricom Group Limited, the ultimate majority shareholder of CCHZ will invest at least ZMW300 million ($16.5 million) of preference shares into Access Bank Zambia. Capricorn will hold preference shares in the enlarged Access Bank Zambia for a period of five years, after which the preference shares will be acquired by Access Bank Plc.’’

The statement also notes that the enlarged bank will be well placed to participate in the long-term economic growth of Zambia and will be predicated on the country’s vast reserves of natural resources and fast growing young population.

Deal book 300 x 250

The transaction is expected to be completed during the fourth quarter of 2020.

first bank
Continue Reading

Appointments

Nnaemeka Ewelukwa assumes office as new MD/CEO of NBET

Dr, Eweluka replaced the sacked Dr. Amobi as NBET Chief before full assumption in August 2020.

Published

on

Dr Nnaemeka Ewelukwa has assumed office as the new Managing Director/Chief Executive Officer of the Nigerian Bulk Electricity Trading (NBET) Plc. This was announced earlier today by the Federal Government of Nigeria.

UBA ADS

The Backstory: In December 2019, the former CEO of NBET, Dr Marilyn Amobi, was suspended by Nigeria’s Minister of Power. This followed a series of complaints made against Dr Amobi who was appointed to the position in 2016. Following her sack, the Minister of Power also noted that he was seeking to bring sanity back to the system. A committee was also set up to investigate the many complaints against the former NBET CEO.

“In view of this, the minister has also directed the Constitution of a 5-man investigative committee to look into the myriads of complaints against the MD/CEO (of NBET) with the view of restoring sanity in the management of the company. Consequently, she is to handover to the most senior director in the organisation,” a statement issued by Aaron Artimas, the spokesman of the Minister of Power had read.

Interestingly, President Muhammadu Buhari reinstated Dr Amobi in January this year, but then finally sacked her later in June. Now, Dr, Eweluka, who was earlier announced as Amobi’s replacement, has now taken over.

GTBank 728 x 90

Before now, Eweluka was appointed the General Counsel and Company Secretary of NBET in march 2012. He has also served as a Technical Adviser with the Presidential Task Force on Power (PTFP) where he was a member of the Regulatory and Transactions Monitoring Unit.

He graduated with an LLB from the  University of Nigeria Nsukka, an LLM in International Business Law from the London School of Economics and a PhD from Queen Mary, University of London.

first bank
Continue Reading
Advertisement
Advertisement
first bank
Advertisement
Advertisement
first bank
Advertisement
Heritage bank
Advertisement
beyondperception
Advertisement
devland
Advertisement
GTBank 728 x 90
Advertisement
Advertisement
financial calculator
Advertisement
deals book
Advertisement
app
Advertisement