investment

INVESTORS SHUN 182-DAY T-BILLS, FLOCK TO 364-DAY BILLS WITH N677 BILLION SUBSCRIPTIONS In the latest Nigerian Treasury Bills (NTBs) auction on June 5, 2024, investors showed a strong preference for 364-day bills over 182-day bills. The auction raised N278.4 billion in total, highlighting...

AGUSTO & CO. UPGRADES WEMA BANK PLC TO “BBB+” In its June 2024 report, Agusto & Co. upgraded Wema Bank Plc from a “Bbb” rating to a “Bbb+” rating, indicating improved creditworthiness. This upgrade suggests that Wema Bank has shown positive developments in its financial health and risk profile...

NGX TRADING SUMMARY FOR 5TH JUNE, 2024 The Nigerian equities market recorded another up day, as the NGX All-Share Index (NGXASI) closed the day up by 0.24%, to bring the Year-to-Date returns up 30.65%. The All Share Index closed at 99,284.38 against the previous close of 99,051.02, volume...

FEMI OTEDOLA ACCUSES JIM OVIA OF FRAUDULENT TRANSACTIONS IN ZENITH ACCOUNT Billionaire businessman Femi Otedola has accused Jim Ovia, Chairman of Zenith Bank Plc, of using an account belonging to his company, Seaforce Shipping Limited, for unauthorized trading in 2011. Otedola has submitted...

MID-WEEK MARKET PULSE Hello Investors. Let's take a look and do a recap of the significant changes in the Nigeria Stock on Monday and Tuesday (3rd and 4th June, 2024) 1. Stock Market Drops Amid Nationwide Strike: - The Nigerian stock market depreciated by N102.55 billion during this period...

NGX TRADING SUMMARY FOR 4TH JUNE, 2024 The Nigerian equities market recorded another down day, as the NGX All-Share Index (NGXASI) closed the day down by -0.07%, to bring the Year-to-Date returns up 30.35%. The All Share Index closed at 99,051.02 against the previous close of 99,118.86, volume...

TUESDAY FINANCE TIP: AVOIDING IMPULSE PURCHASES: A FUN GUIDE 1. The "Impulse Buy": - Imagine you are in a store, eyeing that shiny gadget. You start doing the "Impulse Buy" dance—two steps forward, one step back, and a twirl. - Solution: Instead of dancing, pause and ask yourself, "Do I...

Presco Set to Acquire 100% Stake in Ghana Oil Palm Development Company Ltd. Presco rises on the news of its intention to acquire 100% stake in Ghana oil Palm Ltd. Gains 8.16% to move to N289 as at 10.43am

SEPLAT TO REWARD ITS CHIEF OFFICERS WITH 3,139,250 SHARES AS PART OF PERFORMANCE BONUS FOR 2024 Seplat Energy Plc will reward its CEO, COO, and CFO with a total of 3,139,250 shares as part of their 2024 performance bonus under its Long-Term Incentive Plan (LTIP). The shares, based on achieving...

LESSONS FROM THE BOOK "COMMON STOCKS AND UNCOMMON PROFITS" BY PHILIP FISHER This book is a seminal work in the field of investing. Fisher's investment philosophy is built around the idea that long-term growth in stock value is more important than short-term profits. He is known for his...

NGX TRADING SUMMARY FOR MONDAY, JUNE 3, 2024 At the close of trading on the Nigerian Stock Exchange (NGX) on Monday, June 3, a total of 349,590,093 shares were traded in 8,082 deals, valued at NGN 5,237,412,920.18. This marks a 19% decline in volume, a 39% decline in turnover, and a 5% decline...

WEEKLY RECAP OF THE NIGERIAN STOCK EXCHANGE (NSE) FOR THE WEEK OF MAY 27th TO 31st, 2024. WEEKLY RECAP: - All Share Index (ASI): The NSE's benchmark index appreciated by a modest 0.02%, settling at 99,300.38 from the previous close of 99,276.03. This brings the year-to-date growth to an...

ZENITH BANK CEO INDUCTED CIS ASSOCIATE MEMBER Zenith Bank's CEO, Ebenezer Onyeagwu, has been inducted as an associate member of the Chartered Institute of Stockbrokers. CIS President Oluropo Dada praised Onyeagwu's successful completion of the institute’s professional exam and a practical...

NGX TRADING SUMMARY FOR FRIDAY, MAY 31, 2024 At the close of trading on the Nigerian Stock Exchange (NGX) on May 31, 2024, a total of 433,997,592 shares valued at NGN 8,575,279,947.31 were traded in 8,525 deals. This marked a 40% increase in volume, a 58% increase in turnover, and a 21%...

Quiz: Financial Finesse on Friday 1. Nigerian Stock Exchange (NSE) Foundation: In what year was the Nigerian Stock Exchange established? - A) 1946 - B) 1958 - C) 1960 - D) 1972 2. US Market Milestone: What is the name of the longest bull run in US stock market history? - A) The...

FLASHBACK FRIDAY FINANCE It's TGIF dear investors ❤️. Let's take a trip down memory lane and revisit some significant moments in Nigeria's financial and investment sector. Here are a couple of flashbacks: 1. Financial Sector Development and Economic Growth: Nigeria's financial system has...

Goodbye, May! Hello, June! Hello everyone! As May ends and June begins, let's get our finances in order. Picture May wrapping up and June ready to take over. 1. Getting Organized: - May brought us paychecks, bills, and unexpected expenses. Let's gather our receipts, balance our...

NIGERIAN DRUGMAKERS SEE 58% REVENUE RISE AS PRICES SOAR The combined revenue of three listed Nigerian pharmaceutical companies—Fidson Healthcare Plc, May & Baker Nigeria Plc, and MeCure Industries Plc—rose by 58 percent in the first quarter of 2024, reaching N33.4 billion from N21.13 billion...

CHRISLAND SCHOOLS TO ISSUE N2 BILLION IN COMMERCIAL PAPER AT 30% INTEREST RATE Chrisland Schools Limited has launched a N2 billion commercial paper issuance under its N8 billion programme. The offer, which opened on May 27, 2024, will close on June 5, 2024. Tranche A, with a 180-day term, is...

STERLING FINANCIAL HOLDCO TO SEEK SHAREHOLDERS ’ APPROVAL FOR N200 BILLION CAPITAL RAISE The Board of Sterling Financial Holdings Company Plc will seek shareholders’ approval at an annual general meeting (AGM) to raise up to N200 billion through various methods of share issuance in the...