Business Capital Market Capital Market

79 percent of ETI preference shareholders meet conversion deadline

Ihesiulo Grace 29 November 2016 0

Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, has said that 79 percent of its preference shareholders were able to meet the deadline of October 31st to indicate their intent of converting to ordinary shareholding According to a statement from the company, out of

Business Capital Market Capital Market

Equities Market kicks off week with 40 percent volume growth

Ihesiulo Grace 29 November 2016 0

The volume of shares traded on the Nigerian Stock Exchange (NSE) appreciated by 40.4 percent to settle at 202.4 million units, as the market opened the week with further price losses yesterday. The shares traded in 2,558 deals were valued at N1.616 billion compared to 144.2 million units valued at N2.143 billion and exchanged in […]

Capital Market Capital Market

FCMB grows profit 600 percent in Q3

Ihesiulo Grace 28 November 2016 0

FCMB Group has reported a profit after tax (PAT) of N12.98 billion for the nine month period ended 30 September 2016, representing an increase of 596 percent from N1.87 billion recorded in the corresponding period of 2015. The group which comprises First City Monument Bank (FCMB), FCMB Capital Markets, CSL Stockbrokers and CSL Trustees, attributed […]

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Equities market ends week with marginal loss

Ihesiulo Grace 27 November 2016 0

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and Market Capitalization for the sixth week in a row declined to close the week at 25,333.39 and N8.721 trillion respectively after a depreciation of 0.80 percent. Sector indices also finished lower last week with the exception of the Banking and the Consumer Goods Indices that appreciated […]

Business Capital Market

Interlinked Technologies revenue declines by -30%

Ihesiulo Grace 23 November 2016 0

…records 207% Q1 loss   The challenging operating continued to weaken performances of listed companies as earnings sustain declining trend while operating expenses expand. Interlinked Technologies loss for the Q1 period grew by -207 per cent. Finance cost by 33 per cent, to N1.3bn from N980m in Q1 2015, profit before tax dropped by 207 […]

Business Capital Market

Ecobank appoints Madibinet Cissé Company Secretary and Group Counsel

Ihesiulo Grace 22 November 2016 0

Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, has appointed Mr. Madibinet Cissé as Group Head, Legal and Company Secretary. Mr. Cissé, whose appointment takes effect on the 9th of January 2017, will report jointly to the Ecobank Group CEO and the ETI Board of Directors, in replacement of former Company Secretary and […]

Business Capital Market

Equities Market: Week opens with N13.3 bn loss

Ihesiulo Grace 22 November 2016 0

The downtrend in the Nigerian equities market persisted yesterday with investors losing N13.3 billion at the start of the week. Investors worth tracked by the market capitalization which opened Monday at N8.791 trillion lost 0.15 percent or N13.3 billion to close the day at N8.778 trillion The All Share Index also dropped by 0.15 percent […]

Business Capital Market

Federal Government commits towards capital market growth.

Ihesiulo Grace 14 November 2016 0

His Excellency, Vice President of Nigeria, Professor Yemi Osinbajo in his maiden visit to the Nigerian Stock Exchange (NSE) has pledged the full support of the Federal Government towards partnership that will engender the rebound of the Nigerian Stock market. His Excellency, gave this assertion whilst performing the closing gong ceremony, in company of the […]

Business Capital Market

Nigeria’s SEC probes five market operators

Ihesiulo Grace 10 November 2016 0

Nigeria’s Securities and Exchange Commission (SEC) has said it is investigating complaints it received against five Capital Market Operators (CMOs), namely, Bytofel Securities and Trust Limited, Jenkens Investment Limited, Securities Solutions Limited, Wizetrade Capital & Asset Management Limited and Elyon Assets Management Limited. Consequently, SEC invited 24

Business Capital Market

Capital Oil increases loss by 99 percent in nine months

Ihesiulo Grace 1 November 2016 0

Management accounts for the nine month period ended 30th September 2016 of Capital Oil Plc has shown a 99 percent increase in loss after tax of N43.5 million from N21.9 million reported for the same period of 2015. The indigenous downstream oil major also reported a 28 percent decline in revenue that stood at N650.1 […]

Business Capital Market

Court Dismisses BGL cases against SEC

Ihesiulo Grace 1 November 2016 0

The Federal High Court has dismissed the three cases filed against the Nigerian Securities and Exchange Commission by BGL Plc, its sponsored individuals and subsidiaries. The SEC, through its Administrative Proceedings Committee (APC) had earlier withdrawn the operating licence of BGL Securities Limited and BGL Asset Management Limited and also placed fines and various

Business Capital Market

Q3 Earnings: Lafarge Wapco records N37.4 billion loss

Ihesiulo Grace 1 November 2016 0

Lafarge Africa Plc has reported a loss after tax of N37.4 billion for the nine month period ended September 30, 2016. The loss represents a 215 percent decline from a profit after tax of N32.4 billion recorded in the corresponding period of 2015. The cement manufacturing group’s results showed Net sales for the period reduced […]

Business Capital Market

Investors Laud Conoil’s N2billion Dividend Payout

Ihesiulo Grace 28 October 2016 0

Shareholders of Conoil Plc have applauded the company’s strong financial performance despite the difficult operating environment in the country. Speaking at the company’s annual general meeting held today in Uyo, Akwa Ibom State, the shareholders expressed their delight that the foremost fuel marketing company was able to declare such a huge dividend in spite of […]

Capital Market

Unilever Nigeria increases post tax profit by 1,011 percent in Q3

Ihesiulo Grace 26 October 2016 0

Unilever Nigeria Plc results for the period ended 30th September 2016 released on the floor of the Nigerian Stock Exchange has shown Profit after tax  increased by 1,011 percent to N1.5 billion from N141 million reported in the corresponding period in 2015. Unilever’s revenue for the period stood at N49.87 billion, representing a 16.8 percent increase […]

Business Capital Market

Suntory Beverage & Food Nigeria enlarges its footprint in the Nigerian market

Ihesiulo Grace 25 October 2016 0

…begins full operations in Nigeria with the Lucozade and Ribena brands Suntory Beverage & Food Nigeria, Japanese purchasers of the GSK Plc drink business has announced its decision to enlarge its footprint into the Nigerian food and beverage market as owners of the globally popular beverage brands, Lucozade and Ribena. This development follows the recent […]

Business Capital Market

NSE boss urges investors to take advantage of data for informed investment decision.

Ihesiulo Grace 18 October 2016 0

The CEO of the Nigerian Stock Exchange Mr. Oscar Onyema, has called on both domestic and foreign portfolio investors on the need to exploit market data for their benefits. The NSE boss whilst speaking at the first market data workshop organised in Lagos on Tuesday said “Our market data informs traders, investors, media and others in […]

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NSE: Capitalisation down by N59bn

Ihesiulo Grace 14 October 2016 0

Activities on the Nigerian Stock Exchange (NSE) on Thursday, remained on a negative note due to unimpressive third quarter result declared by some companies. The News Agency of Nigeria (NSE) reports that the market capitalisation slipped further by N59 billion or 0.61 per cent to close at N9.567 trillion against N9.626 trillion achieved on Wednesday. […]

Business Capital Market

13 gainers boost market cap by N38 billion.

Ihesiulo Grace 12 October 2016 0

The Nigerian Equities market continued on a positive on Tuesday as strategic positioning by investors ahead of third quarter 2016 financials releases prevailed. The Nigerian Stock Exchange (NSE) All Share Index (ASI) thus recorded an increase of 0.39 percent to 28,034.32 points from opening figure of 27,925.00 points. The day’s performance reduced the year to […]

Business Capital Market Capital Market

UBA Grows Profit To N62 Billion In Nine Months

Ihesiulo Grace 12 October 2016 0

Leveraging its expansive footprint, pan-African banking group, United Bank for Africa Plc (“UBA” or “the Bank”), announced its unaudited Third Quarter Financial Results, showing a 7% year-on-year growth in profit before tax to N62 billion despite the challenging macro-economic environment. This represents an impressive 18.2% annualized return on average equity. The Bank

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NSE market indices record growth

Ihesiulo Grace 11 October 2016 0

The market indices of the Nigerian Stock Exchange on Monday recorded marginal growth, appreciating by 0.32 per cent due to marginal gains posted by some blue chips. The News Agency of Nigeria reports that the market capitalisation grew by N31 billion or 0.32 per cent to close at N9.591 trillion against N9.560 trillion achieved on […]