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HINT: 7 stocks to have in your portfolio before 2020 ends

Oct 28, 2020Oct 28, 2020 Ambrose Omordion

By Investdata Analysts Looking at the seasonal swings trend in the final quarter of every year, Investdata Research has put together stocks to watch and will help you target strategic gains in six months. If you have not been paying attention to what is happening in the market and the economy right now, this report is for you; and should you be one of those yet to position for this earnings season and post-earnings portfolio repositioning, it is time to act. This will help you profit from the seasonal wave…

Nigerian stocks stronger with N106bn daily gain

Oct 28, 2020 Banjo Olaniran

Nigerian stocks stronger with N106bn daily gain Nigerian equities market sustained gaining streak on Tuesday as it all ended in praises for stock investors who recouped fresh profit on their investments to the tune of N106 billion at the close of the session. Experts have ascribed the ongoing bull-run to liquidity in the system as high inflation and low yields continue to discourage flow of funds into the fixed income market. This, obviously, is coupled with the many third quarter financial reports being released at the exchange, showing recovery from…

Volatility May Continue On Positioning, Post-Uptrend, Q3 Earnings Profit Booking

Oct 27, 2020 Ambrose Omordion

Amid Positive NGSE Outlook, Time For Short, Medium-term Positions

Investdata Analysts Following the increased buying interest and momentum on the Nigerian Stock Exchange on Monday, the benchmark All-Share index rebounded to its January trading position after seven months of positive sentiments and recovery, driven by an increase in liquidity, and low stock valuations, among others. The rebound was despite the seeming disconnection of the market from economic realities, as funds searched for higher returns and yields. The corporate earnings released so far have been mixed, with a few beating market expectations, even as Stanbic IBTC Holdings became the banking…

Jack Ma’s Ant Group sets price for record $35b IPO

Oct 27, 2020 Business Metrics

Ant Group Co has set the price for its initial public offering (IPO) in Shanghai, paving the way for a blockbuster sale that may give the Chinese fintech giant a valuation higher than JPMorgan Chase & Co. Billionaire founder Jack Ma, speaking at a weekend conference, said Ant has determined the IPO price, though he did not disclose the amount. Pricing details for the China shares are expected by today, Tuesday, with the Hong Kong price to be announced as soon as Oct 29, people familiar with the matter have…

Equities sustain third bullish session with N42bn

Oct 27, 2020 Omobayo Azeez

The Bullish outlook of the Nigerian Stock market sustained it’s third day in a row as the market again commenced week on Monday with another wave of profit to a tune of N42 billion. The appreciation in stock value came on the back of bargain buying in Dangcem and some banking stocks, thus raisin the benchmark index of the market by 28 percentage points. Consequently, the All-Share Index (ASI) added 80.9 points to close at 28,777.96 basis points while market capitalisation rose in the same proportion to close at N15.042…

Equities defy curfew, violence to post N20bn gain

Oct 26, 2020 Omobayo Azeez

The Nigerian bourse end week positive with N20 billion gain despite the tension and curfew that characterized the End-SARS protest across many states last week. Similarly, the market also shrugged off the negative sentiment that should have accompanied the weak recovery in third quarter (Q3) earnings results of some medium and large capitalised companies published last week. As such, sentiment was broadly positive as the index rose in three out of the five trading sessions, trading report by the Nigerian Stock Exchange shows. Consequently, the NSE All-Share Index (ASI) advanced…

Investors Seek Safe Bets, As Q3 Earnings Influence Equity Prices Ahead Of Deadline

Oct 26, 2020 Ambrose Omordion

Market Update for Week Ended October 23 and Outlook for Oct 26-30 By Investdata Analysts Nigeria’s equity market sustained its bullish transition last week, defying the social unrest that was triggered by the protest against the brutality of the Special Anti-Robbery Squad of the nation’s Police that has over the years resulted in extra-judicial killings and extortion of victims, particularly the youth population. The unrest, which spread across the country resulting in imposition of curfews by various state governments across the country’s, thereby heightening the nation’s sociopolitical, economic and currency…

9M-2020: CAP Plc reports N928m profit as revenue soars 34% in Q3

Oct 24, 2020Oct 24, 2020 Business Metrics

Maintains strong cash position of ₦4.97bn Envisages improved performance New growth strategy lifting operations, says MD _________________________________ Chemical and Allied Products Plc (CAP), one of Nigeria’s leading paints and decorative companies, has posted positive numbers in its unaudited results for the nine months ended 30 September 2020. The improved performance of the company defied the odds of the Corornavirus pandemic (COVID-19) and other economic headwinds within the period on the back of a new growth strategy of the company embarked on in 2019. According to the latest financial report, the …

H1’ 2020: Airtel Africa posts $145m profit as customer base hits 116.4m

Oct 23, 2020 Banjo Olaniran

Telecoms and payment giant, Airtel Africa has reported broad base positive performance for the half-year period ended June 30, 2020. According to the financial disclosure filed on the Nigerian Stock Exchange (NSE), where it is listed, the telecoms company realised $145 million as the profit after tax (PAT) for the period. This is however 36.6 per cent decline from the 2019 half year record, despite 10.7 per cent rise in revenue at $1.815 billion in the six-month period and 14.3 per cent uptick in the Q2 revenue alone. Airtel Africa…

Nigerian Breweries begins N20bn capital raising via commercial paper

Oct 23, 2020 Omobayo Azeez

Nigerian Breweries plc has launched its series 9 and 10 commercial paper (CP) to raise a maximum of N20 billion. The company disclosed this in a press statement filed at the Nigerian Stock Exchnage (NSE) in which it intimated the Nigerian bourse and the investing public with the development. In the statement signed by Uaboi G. Agbebaku, the company secretary, Nigerian Breweries explained that the series 9 and 10, which opened for subscription on October 23, 2020, is a continuation of its commercial paper programme. The statement read: “Nigerian Breweries…