Category: Capital Market

    The equities market closed yesterday on a positive note to commence weekly trading activities on the upswing after the market also closed green last Friday.   The market performance indices, NSE ASI, appreciated by 0.30 per cent with market breadth closing negative with 15 gainers as against 19 losers.   The upswing, according to market watchers, was driven by bargain hunting activities on the back of undervalued stocks following renewed appetite in anticipation of share appreciation.   Consequently, the All-Share Index grew by 68. 85 basis points or…

  The Nigerian equities market yesterday closed negative to begin the trading week on the downtrend over sell pressure, producing only 16 losers and only 14 gainers.   Key market indicators, the NSE ASI, declined by 0.005 per cent as investors sell off their shares following the Coronavirus global threat.   The All-Share Index had dropped by 1.18 basis points or 0.005 per cent from 22,921.59 index points last Friday to 22,920.41while the market capitalisation of equities depreciated by N613 million to close at N11,945.042 trillion from N11,945.655 trillion.  …

Private Sector Coalition Against Covid-19 (CACOVID-19) has stepped up its complimentary efforts towards freeing the nation of the Pandemic. The Coalition which is being spearheaded by Aliko Dangote Foundation (ADF) and Access Bank Plc, according to ADF CEO, Zouera Youssoufou and Head of Corp Communication of Access Bank, Amaechi Okobi, is already building isolation centres across the country and will begin the training of medical personnel for speedy action and also provide relief packages to cushion the effect of the pandemic. The duo in a briefing at the weekend noted…

FMDQ Securities Exchange Limited has admitted to its platform, the Flour Mills of Nigeria PLc’s Series 3 N12.49 billion Tranche A and N7.50 billion Tranche B Fixed Rate Senior Unsecured Bonds under the N70.00 billion Bond Issuance Programme. The exchange also admitted for listing on its platform, the Chapel Hill Denham Nigeria Infrastructure Debt Fund Series 6 162.72 million Units of N100.00 each at N109.72 under the N200.00 billion Issuance Programme. The exchange had in December 2018 admitted the Flour Mills of Nigeria Series 1 & 2 N20.11 billion bonds.…

The Nigerian Stock Exchange has extended the due date for the submission of the audited financial statements for listed companies with March 31, year end by 60 days from June 29, 2020 to August 28, 2020. The extension follows an earlier circular of March 23, 2020, with reference number NSE/RD/LRD/CIR5/20/03/23 wherein listed companies were granted a sixty day grace period for the submission of their audited financial statement for the year ended December 31, 2019. “Further to the provisions of Rule 17:20 (g): Financial Reporting and Periodic Disclosure, Rulebook of…

Weekly activities on the floor of the Nigerian Stock Exchange extended further gains as the NSE All-Share Index and Market Capitalisation both appreciated by 7.19 per cent to close the week at 22,921.59 and N11.946 trillion respectively. All other indices finished higher with the exception of NSE ASeM, which closed flat. It was another four-day trading week as the Federal Government of Nigeria declared Monday 13th April 2020 (Easter Monday) as Public Holiday in commemoration of the Easter celebrations. Meanwhile, a total turnover of 1.495 billion shares worth N12.894 billion…

  Majority of private equity firms in the UK do not carry out sufficient assessments of cyber risks at their target companies, a new study has uncovered.   The findings show that just 23 per cent of private equity professionals believe that due diligence carried out on cyber security issues at target companies is good or excellent.   A significant 30 per cent described the industry’s work in this area as average, while 27 per cent said that it was poor or terrible.   According to The Actuary, governance experts…

International Breweries Plc has reported a loss after tax of N16.445 billion for the nine months ended September 30, 2019, from N7.137 billion it reported within the same period in September 2018.   Loss before tax stood at N24.076 billion for the Q3 as against loss of N9.014 billion posted in 2018.   However, revenue grew by 16.69 per cent to N97.260 billion in 2019 from N83.346 billion recorded earlier but cost of sales stood at N66.138 billion from N51.114 billion in 2018, accounting for 29.39 per cent increase.  …

In a move to reposition its members to drive innovation, grow membership base and renew investor confidence in the capital market, the Chartered Institute of Stockbrokers (CIS) has reviewed the processes and procedures.   Addressing capital market correspondents on the high points of 2019 Stockbrokers’ annual conference, the Chairman, Planning Committee, Ms. Abiola Adekoya, explained that the conference theme, “Boosting Capital Market Competitiveness in a Challenging Macro Environment,”  was chosen to articulate policy measures that can reposition the capital market to play its pivotal role as a platform for mobilisation…