Capital Market

Equities Market Sheds N46bn On Weak Sentiments

By Nse Anthony-Uko (Sundiata Finance) – The Nigerian equities market opened the new week on Monday with a decline of N46 billion on weak investor sentiments. In summary, the All Share Index (ASI) shed 132.50 absolute points, representing a decline of 0.38 per cent to close at 34,873.07 points. Similarly, the market capitalisation shed N46 billion, to close at N12.022 trillion. The ...

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Dangote Cement, 18 Others Lift Stocks Market By 1.42%

Dangote Cement, 18 Others Lift Stocks Market By 1.42% (Sundiata Finance) – Consolidating recovery move, trading activities on the floor of the Nigerian Stock Exchange (NSE) went up by 1.42 per cent following price gains recorded by Dangote Cement and 18 other blue chip companies. In summary, the All Share Index (ASI) gained 503.30 absolute points, representing a growth of ...

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Fireworks Expected As Oando Proxy Battle Moves To AGM

(Sundiata Finance) – For many stock investors, particularly the equity holders in Oando Plc shares, the outcome of the company’s annual general meeting (AGM) which holds next week Monday in Uyo, remains what they look forward to. This comes as a proxy battle for the company appears to be taking place. A proxy fight or proxy battle is an unfriendly ...

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Forte Oil Profit Spikes On Lower Taxes, Cost Cuts

(Sundiata Finance – A sharp fall in income tax expenses and a reduction in operating and production costs have spurred Nigeria’s Forte Oil to growth as second quarter profit surged amid a volatile and unpredictable macroeconomic environment. For the first six months through June 2017, Forte Oil’s net income rose by 84.0 per cent to N4.10 billion as against N2.23 billion ...

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Jaiz Bank, Union Bank, ETI Emerge Top Banking Stocks In August

By Nse Anthony-Uko (Sundiata Finance) – Jaiz Bank Plc and Union Bank of Nigeria Plc led five listed financial institutions in best performing shares in the month of August despite profit-taking in capital market towards commemoration of the Eid -el- Kabir Sallah celebrations. The nation’s capital market started on increased volatility due to foreign investor exit, leading to the Nigerian ...

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Nigerian Stocks Dip By 0.35% Ahead Of Sallah Holidays

By Nse Anthony-Uko (Sundiata Finance) — The Nigerian stocks market maintained its negative momentum to close the final trading day of the week and for the month of August, yesterday. In summary, the All Share Index (ASI) shed 124.51 absolute points, representing a loss of 0.35 per cent to close at 35,504.62 points. Similarly, the market capitalisation declined by N43 billion, ...

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Nigeria Records N1.13trn Equity Trading In 7 Months

By Nse Anthony-Uko (Sundiata Finance) The aggregate value of equity transactions recorded from January to July 2017 increased by 58.05 per cent to N1.129 trillion, up from N714.60 billion in same period of 2016, analysis of transactions for the period ended July 31, 2017 shows. Out of this figure, domestic investors accounted for N638.68 billion or 56.55 per cent; while ...

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Fidelity Bank Profits Soar By 66% At Half-Year

By Nse Anthony-Uko (Sundiata Finance) – Top Nigerian lender, Fidelity Bank recorded a very strong financial performance in the first half of 2017, posting impressive growth in profits, gross earnings and other indices for the six months period ended June 30, 2017. Details of the audited results, released at the Nigerian Stock Exchange (NSE) today show that gross earnings rose ...

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NSE Turns Bullish, Index Rises 1.03% At Tuesday Trading

By Nse Anthony-Uko (Sundiata Finance) – The Nigerian equities recorded a positive performance on Tuesday with the Nigerian Stock Exchange All Share Index (NSE ASI) appreciating by 1.03 per cent to close at 36,962.48. The positive performance followed the return of the bulls. The market had opened on Monday with a decline of 0.91 per cent majorly due to price ...

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Union Bank Seeks N49.75bn Fresh Capital Via Rights Issue

By Nse Anthony-Uko (Sundiata Finance) – The management of the Nigerian Stock Exchange (NSE) informed the dealing members firms of an application by Union Bank of Nigeria Plc seeking approval to issue and thereafter list new shares valued at N49.75 billion by way of rights. According to the acting head, Listings Regulation Department at the NSE, Godstime Iwenekhai, the application ...

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