Capital Market

NSE Lists Stanbic IBTC Pension ETF 40 to drive market liquidity

Ihesiulo Grace 26 January 2017 0

Stanbic IBTC Asset Management Limited (SIAML) on Tuesday listed 10 million units of its Pension ETF 40 fund on the Nigerian Stock Exchange (NSE) as one of the Exchange Traded Funds (ETF) for trading on its floors. According to Chief Executive, Stanbic IBTC Asset Management Limited (SIAML),

Capital Market

Stock Market performance takes U-turn

Ihesiulo Grace 26 January 2017 0

The stock market yesterday turned for the better as most sector indicators tended northwards. The All-Share Index (ASI) and market capitalization added 0.09 percent as a result of a 0.68 percent increase in the NSE Oil and Gas Index. The Oil and Gas Index was buoyed by gains in Oando (2.39%) and Forte Oil (1.88%) […]

Capital Market

Daar Communication losses outweigh earnings growth

Ihesiulo Grace 25 January 2017 0

DAAR Communications Plc, Nigeria’s only publicly quoted broadcasting company, and pioneer private broadcast medium has sustained loss after tax in its 2015 financial year audited result. As development and the settlement of the company’s contingent liabilities continued to impaired profit and dividends for shareholders of the group, income growth in 2015 financial year

Capital Market

Shareholders approve Guinness N40bn rights Issue

Ihesiulo Grace 25 January 2017 0

Shareholders of Guinness Nigeria Plc have approved the company’s proposed N40 billion rights issue. The shareholders gave the approval on Tuesday at the company’s extraordinary general meeting (EGM). The meeting which took place in Lagos was well attended by representatives of international shareholders and local shareholders whose views were resounded by the heads

Business Capital Market

Monetary Policy Committee outcome dampens equities trading

Ihesiulo Grace 25 January 2017 0

Equities trading yesterday slipped slightly, erasing the growth recorded the previous day. The Nigerian Stock Exchange (NSE) All-Share Index (ASI) lost 13.83 points to close at 26,217.54 as against a growth of 7.83 recorded in the previous session when the ASI closed at 26,231.37. The market capitalization shrunk N5 billion from N9.025 trillion which opened […]

Capital Market

NSE: Investors lose N59.3 billion in four days

Ihesiulo Grace 20 January 2017 0

Cumulative losses for the week reached N59.3 billion yesterday as market capitalization which opened on Monday at N9.074 trillion plunged 0.65 percent to close Thursday at N9.015 trillion. The All-Share Index (ASI) closed at 26,201.60 compared to previous closing figure of 26,245.34 Investors exchanged 196.5 million units of shares for N2.611 billion in 3,317 deals,

Capital Market

PZ Cussons Nigeria to delay submission of 2016 Q2 financial results

Ihesiulo Grace 19 January 2017 0

PZ Cussons Nigeria Plc yesterday announced that it will be filing its unaudited financial results for the second quarter ended 30 November 2016 in a week’s time. In a notice endorsed by the Company Secretary Abiola Laseinde, published by the Nigerian Stock Exchange (NSE) the company revealed that the announcement is in compliance with regulatory authorities’ […]

Capital Market

FG raises local currency bonds at yields below inflation

Ihesiulo Grace 19 January 2017 0

Nigeria’s government has raised N214.95 billion ($704.18 million at $1 = N305.25) in local currency bonds at its first auction this year, with the debts sold at yields below galloping inflation, the Debt Management Office said yesterday. The debt office  said it raised a N05.10 billion bond maturing in 2036 at 16.99 percent compared with 16.43 […]

Capital Market

Wema Bank appoints Ademola Adebise as Deputy Managing Director

Ihesiulo Grace 19 January 2017 0

The Board of Directors, Wema Bank Plc. has appointed Ademola Adebise as the Deputy Managing Director (DMD) of the bank. The bank announced his appointment on Thursday stating the board’s decision was taken at a retreat held recently in Lagos, and has been approved by the Central Bank of Nigeria (CBN). In a letter to […]

Business Capital Market

Cadbury names new MD

Ihesiulo Grace 12 January 2017 0

Cadbury Nigeria Plc has announced changes to its board, naming Mr Muhammad Amir Shamsi as its new Managing Director. The manufacturer in a regulatory filing with the Nigerian Stock Exchange noted that the appointment takes effect from 1st February 2017 following the resignation of the current Managing Director Mr Roy Naaman taking effect on the 31st of […]

Business Capital Market

UBA commence closed period for securities trading.

Ihesiulo Grace 12 January 2017 0

UBA Plc on Wednesday announced the commencement of the closed period for trading in the bank’s shares. The bank said, ““In compliance with the NSE rule book and the amendments to the Listing Rules, the closed period commenced January 11, 2017in respect of the Accounts and Financial Statements for the period ended December 31, 2017.” A close period is a period, usually […]

Business Capital Market

Stock market rebounds by 0.15 percent

Ihesiulo Grace 12 January 2017 0

Trading on the Nigerian Stock Exchange (NSE) recorded a rebound as the All-Share Index (ASI) inched up by 0.15 percent. The ASI added 39.56 to close at 26.385.80 in contrast to a decline of 233.98 on Tuesday. Market capitalization also added N13.6 billion to close at N9.079 trillion in contrast to N80.5 billion lost a day […]

Business Capital Market

NSE declares Skye Bank, 14 other stocks ‘below listing standard’

Ihesiulo Grace 12 January 2017 0

The Nigerian Stock Exchange (NSE) has placed a ‘below-listing standard’ (BLS) tag on Skye Bank and 12 other stocks presumably to warn the public about investing in them. The other stocks are Afromedia, John Holt, African Alliance Insurance, Great Nigeria Insurance, Resort Savings & Loans, Universal Insurance Company, Aso Savings & Loans, Ekocorp, Ikeja Hotel, […]

Business Capital Market

Capital Bancorp rates 2016 a better year for investors

Ihesiulo Grace 11 January 2017 0

The Managing Director of Capital Bancorp, Mr Aigboje Higo, says 2016 was a good year for investors in the Nigerian capital market. Higo stated this in Lagos as he compared investment performance between 2016 and 2015. Higo explained that in spite of the enormous challenges such as the recession in 2016, the year-to-date return in […]

Business Capital Market

Greenwich Trust emerges highest mover of shares in 2016

Ihesiulo Grace 11 January 2017 0

Greenwich Trust Ltd has been ranked first on the Nigerian Stock Exchange (NSE) broker performance report for 2016. The firm was responsible for about 25 percent of the total quantity of stocks traded by the top ten stockbrokers with the sale of 37 billion shares. Stanbic IBTC Stockbrokers was next with 11.2 billion shares (7.49 […]

Business Capital Market

Stock market sheds N80.5bn on profit-taking

Ihesiulo Grace 11 January 2017 0

Trading on the Nigerian Stock Exchange (NSE) reversed the positive trend yesterday, as investors engaged in profit-taking across all sectors. The All-Share Index (ASI) went southward by 233.98 or almost one percent to close the day at 26,346.24.  On Monday, the index added 328.83 to close at 26,580.22. Market capitalization also dropped N80.5 billion to close […]

Business Capital Market

Rak Unity Petroleum Announces Changes to Financial Year End

Ihesiulo Grace 9 January 2017 0

RAK Unity Petroleum Company Plc has announced the change of the company’s financial year end from 31st March to 31st December, with effect from the year ended 31st December 2016. The company in a notice signed by its company secretary Alsec Nominees Limited, to the Nigerian Stock Exchange explained that the decision was taken based on the advice […]

Business Capital Market

Banking Stocks boosts market gains by 1.25 percent

Ihesiulo Grace 9 January 2017 0

The equities market on Monday sustained the gains garnered last Friday to post a growth of 1.25 percent in market indicators. The growth was prevalent on increasing bargain hunting in banking stocks, buoying the banking index that led other sector gainers with a growth of 4.04 percent. Other Sector gainers were the ASeM that grew 2.27 percent, […]

Business Capital Market

NSE Indexes; A Window to tracking ETF Performance

Ihesiulo Grace 9 January 2017 0

With the ETF becoming an increasing go to choice for investors on the Nigerian Capital Market, market analyst have urged investors on the need to increase knowledge surrounding the product and the indices they track for solid investment decisions. The Nigerian Stock Exchange explained an exchange-traded fund (ETF) as a type of fund that tracks the […]

Business Capital Market

Banking stocks rally as big banks mull 2016 financials

Ihesiulo Grace 7 January 2017 0

Following the announcement made by some Tier-1 banks on the approval of their 2016 financial results, the equities market took a turn for the better on Friday after trading in negative zone in the three preceding sessions. The value of Access Bank’s stock rose 2.28 percent or 14 kobo on Friday, a day following its announcement, […]