Finance

PZ Cussons Leads Gainers, as NSE Records N8.6b Turnover

Published

8 years ago

February 20, 2017

PZ Cussons Leads Gainers, as NSE Records N8.6b Turnover

PZ Cussons Plc traded higher at the end of last week’s transactions on the Nigerian Stock Exchange. It led nine other with 21.29 per cent to close at N13.39 per share.

Following PZ Cussons, last week, was Julius Berger Plc, adding 10.22 per cent to close at N38.39 per share. Other gainers in last week’s transactions include; Betaglas, Forte Oil, United Capital adding 10.22, 9.91 and 7.61 per cent to close at N36.45, N59.41 and N3.82 per share.

Jaiz Bank gained 6.11 per cent to close at N1.39 per share. Sterling Bank added 5.71 per cent to close at N0.74 per share.

Dangote Flourmills garnered 5.67 per cent to close at N4.10 per share. Livestock added 5.56 per cent to close at N0.76 per share. FBN Holdings also gained 5.43 per cent to close at N3.30 per share.

Consequently, a turnover of 1.073 billion shares worth N8.608 billion in was recorded in 14,486 deals by investors on the floor of the Exchange, in contrast to a total of 1.052 billion shares valued at N8.031 billion that changed hands in 13,586 deals during the week ended February 10, 2017.

Last week, the financial services industry (measured by volume) led the activity chart with 930.380 million shares valued at N5.701 billion traded in 8,759 deals; thus contributing 86.70 per cent and 66.24 per cent to the total equity turnover volume and value respectively.

The consumer goods industry followed with 52.480 million shares worth N1.992 billion in 2,513 deals. The conglomerates industry ranked third with a turnover of 22.125 million shares worth N39.217 million in 499 deals.

Trading in the top three equities namely – Staco Insurance Plc, Zenith International Bank Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 473.880 million shares worth N4.269 billion in 2,254 deals, contributing 44.16 per cent and 49.60 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 15.400 million units of Exchange Traded Products (ETPs) valued at N198.477 million executed in nine deals, compared with a total of 200 units valued at N338,007.70 transacted last week in eight deals.

A total of 10,673 units of Federal Government Bonds valued at N10.479 million were traded this week in 10 deals, compared with a total of 1,135 units valued at N1.175 million transacted last week in five deal. The NSE All-share index and market capitalisation depreciated by 0.69 per cent to close the week at 25,164.91 and N8.709 trillion.

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Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Banking Sector

Zenith Bank Commends Customers After Successfully Unveiling Upgraded Enhanced Tech infrastructure

Published

2 days ago

November 6, 2024

Samed Olukoya

Zenith Bank Plc has announced that it now boasts the best technology infrastructure in the banking industry, positioning itself to provide an exceptional customer experience and superior service delivery moving forward. This upgrade follows a recent comprehensive technology enhancement.

The bank expressed its heartfelt gratitude to customers for their support and patience throughout the upgrade process, while also extending apologies for any inconveniences experienced during this time.

This announcement was made in a social media post on Wednesday, signed by Dame Dr. Adaora Umeoji, OON, the Group Managing Director/CEO.

In her message, the GMD/CEO emphasized the bank’s commitment to delivering an unparalleled service experience, stating, “We undertook this upgrade to ensure we can offer our customers the best possible service.”

Umeoji pledged that Zenith Bank will continue to innovate, ensuring that customer needs are met swiftly, safely, and conveniently.

The post read in part: “On behalf of the Board, Management, and Staff of Zenith Bank PLC, I would like to thank you for your patience and support during our IT infrastructure migration to a new and more robust operating system.

“We are truly grateful for the trust and confidence you have placed in us. The primary reason for undertaking this extensive endeavor was to better position Zenith Bank PLC for improved service delivery to all our valued customers and to create memorable banking experiences at all our touchpoints.

“While I regret the inconveniences and challenges you faced during and immediately after our migration, I am pleased to inform you that Zenith Bank PLC now has the best technology infrastructure in the industry. We are committed to ensuring you experience superior service delivery going forward.

“Rest assured, you remain our top priority, and Zenith Bank will continue to innovate and offer value-added products and services to meet all your banking needs quickly, safely, and conveniently.”

Finance

President Tinubu Orders Release of Minors Prosecuted for #BadGovernance Protests

Published

3 days ago

November 5, 2024

Yetunde Olugbenga

Following a recent viral video on the X app regarding the prosecution of minors who protested during the #BadGovernance movement, President Bola Ahmed Tinubu has ordered the immediate release of all prosecuted minors.

This was announced by the Minister of Information and National Orientation, Mohammed Idris, in a statement to the State House Correspondents in Abuja.

In a show of concern over the detention of minors, President Tinubu directed the Ministry of Humanitarian Affairs and Poverty Reduction to investigate and ensure that the law is fully applied to law enforcement agents involved in the unlawful act.

It was noted that the arrests violated human rights and the Child Rights Act, as the 32 detainees are under 18 years old.

Activist organizations, including the Arewa Consultative Forum (ACF), National Human Rights Commission (NHRC), Civil Society Legislative Advocacy Centre (CISLAC), Resource Centre for Human Rights and Civic Education (CHRICED), and Concerned Parents and Educators (CPE), condemned the actions and denounced the treason charges filed against the detained minors.

In a call to action, the Socio-Economic Rights and Accountability Project (SERAP) urged the president to instruct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, to immediately and unconditionally release all protesters arrested during the #EndBadGovernance movement.

SERAP stated, “The immediate and unconditional release of all #EndBadGovernance protesters, including 32 hungry and malnourished children, is necessary.”

According to SERAP, for the peaceful exercise of fundamental human rights, including freedom of expression, assembly, and association without fear of persecution or undue restriction, all detained protesters should be released.

In response to the president’s directive, the Attorney General of the Federation (AGF), Lateef Fagbemi, commented that his office “will need to review the matter to enable me to make an informed decision.”

Banking Sector

FBN Holdings To Invest N103.1bn In Corporate, Retail Businesses

Published

4 days ago

November 4, 2024

Ugwoke Ogbodo

As part of means of actualizing its expectation of raising N150 billion from its existing shareholders by way of rights issue, the management of FBN Holdings said it has budgeted an estimated N103.1 billion for its corporate business and retail business lending segments of the market.

The Holdings recently held the signing ceremony to begin the rights issue offering of 5,982,548,799 ordinary shares of 50 kobo each at N25.00 per share to its existing shareholder on the basis of one new ordinary share for every six ordinary shares held as of October 18, 2024.

Extracts from the offer raising prospectus of the financial institution revealed that lending to the corporate business segment gets N77.34 billion, while lending to the retail business segment gets a budget of N25.78 billion.

This covers 68.95 per cent of the N150 billion proposed rights issue the management seeks to raise from existing shareholders.

Out of the N150 billion, a total of N29.46 billion was budgeted to support international business expansion and N14.73 billion for investment in automation and digital banking.

According to the financial institution, seamless and convenient banking experience for its customers would be guaranteed through its significant investment in automation and digital banking.

Through its mobile banking app, FirstMobile, and its internet banking platform, FirstOnline, the management of FBN Holdings said it has effectively acquired a broad cross-section of the target demography, with a clear proposition of owning bank accounts and utilising various financial services from the comfort of their locations.

It added that the bank plans to upgrade the FirstMobile and FirstOnline apps with additional features while driving customer adoption of the platforms, noting that the development is in line with First Bank’s commitment to providing customers with the best-in-class electronic banking experience.

The offer, however, is part of the company’s plan to recapitalise its commercial banking subsidiary, First Bank of Nigeria Limited, with a view to increasing the bank’s capacity for business development and growth.

Chairman, FBN Holdings, Olufemi Otedola in a statement from the document urged shareholders to support the Rights issue by accepting their rights, stating that the company will be well positioned to achieve its strategic objectives and to deliver improved returns to all stakeholders.