EkoCorp, Three Others Fined By NSE 

EkoCorp, Three Others Fined By NSE 

The Nigerian Stock Exchange has fined four companies a total of N127.2m for failure to adhere to best corporate governance practices and refusal to submit their accounts and operational reports as and when due. It was reported on November 7, 2018 that the NSE had lifted the suspension it had earlier placed on trading in the shares of Ekocorp Plc, Academy Press Plc, Premier Paints Plc and Austin Laz & Company Plc. The latest X-Compliance data from the NSE revealed that the four companies were suspended at different times in…

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NSE, CISI Collaborate On Stakeholder Training

NSE, CISI Collaborate On Stakeholder Training

The Chartered Institute for Securities & Investment (CISI) has entered into a new partnership with The Nigerian Stock Exchange (NSE) to provide trainings for CISI’s qualifications in Nigeria, under the auspices NSE’s X-Academy. Based in London, CISI’s mission is to help members attain, maintain and develop their knowledge and skills and to promote the highest standards of ethics and integrity in the securities and investment profession. The NSE said in a statement that the partnership will result in CISI accrediting X-Academy as its training partner in Nigeria for qualifications including…

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NSE Lifts Suspension On Academy Press, Three Others

NSE Lifts Suspension On Academy Press, Three Others

The Nigerian Stock Exchange has lifted the suspension it placed on trading in the shares of Premier Paints Plc and three other firms more than a year ago. The firms, including Ekocorp Plc, Austin Laz & Company Plc and Academy Press Plc, were suspended for failure to adhere to best corporate governance practices and refusal to submit their accounts and operational reports. Premier Paints and Ekocorp were suspended on July 5, 2017; Austin Laz was suspended on August 2, 2017, and Academy Press on October 4, 2017. The Head, Listings…

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Royal Exchange, Jaiz Bank Tops NSE Index 

Royal Exchange, Jaiz Bank Tops NSE Index 

The bulls upstaged the bears on the equity sector of the Nigerian Stock Exchange yesterday, occasioned by price gains on highly capitalised stocks, as the All-share index increased marginally by 0.4 per cent. Yesterday, the All-Share Index (ASI) gained 141.46 absolute points, representing a growth of 0.44 per cent to close at 32,545.06 points. Similarly, market capitalisation rose by N51 billion to close at N11.881 trillion. The upturn was significantly impacted by gains recorded in medium and large capitalised stocks, amongst which are; Total Nigeria, Nestle Nigeria, Nigerian Breweries, Unilever…

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Stock Market Investors Lose N287 Billion

Stock Market Investors Lose N287 Billion

Following renewed profit taking, transactions on the Nigerian Stock Exchange (NSE) closed on a downward note, as investors lost N287 billion yesterday after four consecutive trading days of consistent gains. At the close of transactions yesterday, the All Share Index (ASI) shed 787.85 absolute points, representing a dip of 2.37 per cent to close at 33,191.45 points. Similarly, the market capitalisation shed N287 billion at N11.830 trillion. Analysts attributed the significant loss to profit taking by investors. According to them, investors leveraged the capital appreciation recorded in the past few…

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Lafarge Africa, UBA Others Lead NSE’s Bullish Run

Lafarge Africa, UBA Others Lead NSE’s Bullish Run

The nation’s equities market, on Thursday, gained N39bn as 25 stocks, led by Lafarge Africa Plc, appreciated at the end of trading on the floor of the Nigerian Stock Exchange. A total of 226.027 million shares valued at N2.342bn exchanged hands in 2,873 deals. The NSE All-Share Index rose by 33 basis points to settle at 32,480.89bps, while the year-to-date return improved to -15.1 per cent. The market capitalisation of listed equities increased by N39bn to settle at N11.858tn on Thursday. According to analysts at Afrinvest Securities, the day’s performance…

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2019 Election Concerns Impacts NSE Index by N46 billion

2019 Election Concerns Impacts NSE Index by N46 billion

Uncertainties surrounding the upcoming 2019 elections have continued to depress transactions on the equity sector of the Nigerian Stock Exchange (NSE), as market capitalisation plunged further by N46 billion. At the reopening of transactions yesterday, the NSE-ASI shed 125.61 absolute points or 0.39 per cent to close at 32,201.98 points.Similarly, the market capitalisation went down by N46 billion to close at N11.756 trillion. Analysts attributed the downturn to the losses recorded by large capitalised stocks like Nestle Nigeria, Guinness Nigeria, Mobil Nigeria, Guaranty Trust Bank and Stanbic IBTC Holdings. Specifically,…

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Investors Target Banking Stocks

Investors Target Banking Stocks

Trading in the shares of United Bank for Africa (UBA),  Guaranty Trust Bank (GTBank) and Stanbic IBTC Bank Plc, accounted for N7 billion deals, at the end of last week’s transactions on the equity sector of the Nigerian Stock Exchange (NSE). The figure, recorded by the three banks, consequently, buoyed transactions in the financial sector, as 757.992 million shares valued at N9.251 billion were traded in 9,653 deals, contributing 84.91 per cent to the total equity turnover volume. The consumer goods industry followed with 43.651 million shares worth N2.754 billion…

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Stanbic IBTC Holdings Declares N43.1bn Post-Tax Profit

Stanbic IBTC Holdings Declares N43.1bn Post-Tax Profit

Stanbic IBTC Holdings has said its profit after tax grew by 17 per cent to N43.08bn in the first half of the year from N24.11bn in the same period of 2017. The firm’s gross earnings, which stood at N97.20bn last year, surged to N114.21bn this year. Its profit before tax rose by 74 per cent to N50.73bn from N29.17bn in the corresponding period of 2017, while total assets stood at N1.37tn in June 2018 as against N1.39tn in December 2017. The Chief Executive Officer, Stanbic IBTC Holdings Plc, Yinka Sanni,…

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NSE All Share Index Dips To N12.87tn

NSE All Share Index Dips To N12.87tn

The market capitalisation of equities listed on the Nigerian Stock Exchange fell further last week as 56 firms recorded price depreciation. The NSE All-Share Index and market capitalisation depreciated by 0.51 per cent to close the week at 35,266.29 basis points and N12.875tn respectively. Similarly, all other indices finished lower with the exception of the NSE Premium, NSE Lotus II and NSE Industrial Goods indices that rose by 0.59 per cent, 0.23 per cent and 1.29 per cent respectively, while NSE ASeM Index closed flat. Sixteen equities appreciated in price…

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