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NSE Weekly Equities’ Turnover Hits N51.5bn

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  • NSE Weekly Equities’ Turnover Hits N51.5bn

A total turnover of 1.852 billion shares worth N51.523bn in 23,863 deals, were traded last week by investors on the floor of the Nigerian Stock Exchange.

However, a total of 3.316 billion shares valued at N36.451bn had exchanged hands the penultimate week in 29,771 deals.

The financial services industry (measured by volume) led the activity chart with 1.377 billion shares valued at N17.137bn traded in 14,334 deals; thus contributing 74.35 per cent and 33.26 per cent to the total equity turnover volume and value, respectively.

The consumer goods industry followed with 175.880 million shares worth N8.044bn in 4,882 deals. The third place was occupied by conglomerates industry with a turnover of 134.882 million shares worth N821.653m in 1,108 deals.

Zenith International Bank Plc, FBN Holdings Plc and Diamond Bank Plc (measured by volume) accounted for 632.027 million shares worth N8.494bn in 5,616 deals, contributing 34.13 per cent and 16.49 per cent to the total equity turnover volume and value, respectively.

Also traded during the week were a total of 1,120 units of Exchange Traded Products valued at N14,179.00 executed in four deals, compared with a total of 1.189 million valued at N11.662m that was transacted the penultimate week in 30 deals.

A total of 5,382 units of Federal Government Bonds valued at N5.68m were traded last week in 17 deals, compared with a total of 5,240 units valued at N4.406m transacted the penultimate week in 23 deals.

The NSE All-Share Index depreciated by 2.09 per cent while the market capitalisation appreciated by 0.04 to close the week at 38,436.08 and N13.678tn, respectively. In addition, all other indices finished lower during the week with the exception of the NSE consumer goods, NSE oil/gas and NSE Lotus II indices that appreciated by 0.68 per cent, 4.54 per cent, and 0.71 per cent, respectively while the NSE ASeM closed flat.

Sixteen equities appreciated in price during the week, lower than 47 of the previous week. Forty-six equities depreciated in price, higher than 20 equities of the previous week, while 110 equities remained unchanged higher than 105 equities recorded in the preceding week.

For new listings (debt category), a total volume of 72,424 and 183,807 units of 12.091 per cent FGNSB November 2019 and 13.091 per cent FGNSB November 2020, respectively, were admitted to trade at the Exchange on December 15, 2017.

On memorandum listings, seven Funds created by Stanbic IBTC Asset Management Limited – the Stanbic IBTC Money Market Fund, Stanbic IBTC Bond Fund, Stanbic IBTC Balance Fund, Stanbic IBTC Imaan Fund and Stanbic Umbrella Fund, were listed by the Exchange on December 11, 2017 for memorandum purpose.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Banking Sector

COVID-19: CBN Extends Loan Repayment by Another One Year

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Central Bank Extends One-Year Moratorium by 12 Months

The Central Bank of Nigeria (CBN) has extended the repayment of its discounted interest rate on intervention facility by another one-year following the expiration of the first 12 months moratorium approved on March 1, 2020.

The apex bank stated in a circular titled ‘Re: Regulatory forbearance for the restructuring of credit facilities of other financial institutions impacted by COVID-19’ and released on Wednesday to all financial institutions.

In the circular signed by Kelvin Amugo, the Director, Financial Policy and Regulation Department, CBN, the apex bank said the role-over of the moratorium on the facilities would be considered on a case by case basis.

The circular read, “The Central Bank of Nigeria reduced the interest rates on the CBN intervention facilities from nine per cent to five per cent per annum for one year effective March 1, 2020, as part of measures to mitigate the negative impact of COVID-19 pandemic on the Nigerian economy.

“Credit facilities, availed through participating banks and OFIs, were also granted a one-year moratorium on all principal payments with effect from March 1, 2020.

“Following the expiration of the above timelines, the CBN hereby approves as follows:

“The extension by another 12 months to February 28, 2022 of the discounted interest rate for the CBN intervention facilities.

“The role-over of the moratorium on the above facilities shall be considered on a case by case basis.”

It would be recalled that the apex bank reduced the interest rate on its intervention facility from nine percent to five percent and approved a 12-month moratorium in March 2020 to ease the negative impact of COVID-19 on businesses.

To further deepen economic recovery and stimulate growth, the apex bank has extended the one year-moratorium until February 28, 2022.

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MTN Nigeria Generates N1.35 Trillion in Revenue in 2020

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MTN Nigeria Grows Revenue by 15.1 Percent from N1.169 Trillion in 2019 to N1.35 Trillion in 2020

Despite the COVID-19 pandemic and challenging business environment, MTN Nigeria realised N1.346 trillion in revenue in the financial year ended December 31, 2020.

The leading telecommunications giant grew revenue by 15.1 percent from N1.169 trillion posted in the same period of 2019.

Operating profit surprisingly jumped by 8.5 percent from N393.225 billion in 2019 to N426.713 billion in 2020.

This, the telecom giant attributed to the surge in finance costs due to increased borrowings from N413 billion in 2019 to N521 billion in 2020.

MTN Nigeria further stated that the increase in finance costs was the reason for the decline in growth of profit before tax to 2.6 percent.

MTN Nigeria grew profit before tax by 2.6 percent to N298.874 billion, up from N291.277 billion filed in the corresponding period of 2019.

The company posted N205.214 billion profit for the year, a 0.9 percent increase from N203.283 billion recorded in the 2019 financial year.

Share capital remained unchanged at N407 million. While Total equity increased by 22.3 percent from N145.857 billion in 2019 to N178.386 billion in 2020.

MTN Nigeria’s market price per share increased by 61.8 percent from N105 to N169.90.

While market capitalisation as at year-end also expanded by 61.8 percent to N3.458 trillion, up from N2.137 trillion.

The number of shares issued and fully paid as at year-end stood at 20.354 million.

MTN Nigeria margins were affected by Naira devaluations and capital expenditure due to the new 4G network coverage roll-out.

Margins were adversely affected by the effect of naira devaluation and expenses associated with new sites’ roll-out to boost 4G network coverage in FY’20.

“On the former, we note that MTNN expanded the scope of its service agreement with IHS Holding Limited and changed the reference rate for converting USD tower expenses to NAFEX (vs CBN’s official rate previously). Thus, over the full-year period, the company’s operating margin contracted by 1.9 ppts YoY to 31.7%,” CardinalStone stated in its latest report.

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Nestle Nigeria Approves Final Dividend of N35.50k per 50 Kobo Ordinary Share for 2020

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Nestle Nigeria Approves Final Dividend of N35.50k per 50 Kobo Ordinary Share for 2020

Nestle Nigeria, a leading food and beverage company, has declared a final dividend of N35.50k per 50 kobo ordinary share for the year ended December 31, 2020.

The beverage company said N24.50k of the amount declared was from the after-tax profit of 2020 and N5 and N6 were from the after-tax retained earnings of the years ended December 2019 and 2018, respectively.

Nestle Nigeria stated that the amount declared is subject to appropriate withholding tax and approval at the Annual General Meeting of shareholders.

It also noted that payment will be made only to shareholders whose names appear in the Register of Members as at the close of business on 21 May 2021.

Dividends will be paid electronically to shareholders whose names appear on the Register of Members as at 21 May 2021, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.

Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on their website: www.gtlregistrars.com, complete and submit to the Registrar or their respective Banks.

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