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.
- Investors marked FBN Holdings (FBNH) Plc and 16 other stocks for profit-taking.
- This decline occurred amid the ongoing nationwide strike imposed by organized labor unions.
2. Stanbic IBTC Named Fastest-Growing Nigerian Brand:
- Stanbic IBTC Holdings was recognized as the fastest-growing brand in Nigeria by Brand Finance.
- The annual report highlighted Stanbic IBTC's brand value growth using market and income valuation approaches.
3. Flour Mills Reports Revenue Increase:
- Flour Mills of Nigeria Plc, a food and agro-allied company, reported a 49% increase in revenue.
- Their revenue reached N2.3 trillion for the year ending March 31, 2024, compared to N1.5 trillion in the previous year.
4. Dangote Group's Revenue Projection:
- Alhaji Aliko Dangote, founder of the Dangote Group, expects total revenue from his businesses to surpass $30 billion by the end of 2024.
- This projection would position the Dangote Group among the biggest 120 companies globally.
Remember that market dynamics can be influenced by various factors, including economic conditions, corporate performance, and external events. Stay informed and keep an eye on further developments!
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.
- Investors marked FBN Holdings (FBNH) Plc and 16 other stocks for profit-taking.
- This decline occurred amid the ongoing nationwide strike imposed by organized labor unions.
2. Stanbic IBTC Named Fastest-Growing Nigerian Brand:
- Stanbic IBTC Holdings was recognized as the fastest-growing brand in Nigeria by Brand Finance.
- The annual report highlighted Stanbic IBTC's brand value growth using market and income valuation approaches.
3. Flour Mills Reports Revenue Increase:
- Flour Mills of Nigeria Plc, a food and agro-allied company, reported a 49% increase in revenue.
- Their revenue reached N2.3 trillion for the year ending March 31, 2024, compared to N1.5 trillion in the previous year.
4. Dangote Group's Revenue Projection:
- Alhaji Aliko Dangote, founder of the Dangote Group, expects total revenue from his businesses to surpass $30 billion by the end of 2024.
- This projection would position the Dangote Group among the biggest 120 companies globally.
Remember that market dynamics can be influenced by various factors, including economic conditions, corporate performance, and external events. Stay informed and keep an eye on further developments!