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FBN Holdings, Dangote Cement, UACN Disclose Insider Dealings



Stock Investors
  • FBN Holdings, Others Disclosed Insider Dealings

Following the adjustment of the Nigerian Stock Exchange (NSE)’s policy on insider dealings disclosure in 2019, several NSE listed corporations have started reporting insider dealings largely attributed to price manipulation and part of the reason why the public no longer trust price movement of listed stocks.

On Tuesday, FBN Holdings disclosed that the company’s secretary, Oluseye Kosoko, purchased 2,000,000 ordinary shares of FBN Holdings Plc at N5.45 per share.

The date of the transaction was quoted as of June 9, 2020. Indicating the reason for the noticeable large volume of transactions on FBNH stock on Tuesday.

Other companies that have disclosed insider dealings in the last two months were Dangote Cement, UACN, AIICO, Fidelity Bank, etc.

On May 28, 2020, Devakumar Edwin, a director at Dangote Cement purchased 1 million units of Dangote Cement’s shares at N138.5 per share, according to the company’s official statement published on the Nigerian Stock Exchange on June 1, 2002.

Accordingly, Blakeney JP sold a cumulative 50 million ordinary shares of UACN at a price between N6.02 and N6.9 per share.

These disclosures were after public outcry that companies were using the insider dealings to manipulate stock prices and eventually hurt stocks outlook or investors projection of price action.

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

Stock Market

Nestle S.A. Gradually Taking Over Nestle Nigeria, Increases Stake Yet Again




Nestle S.A. has once again increased stake in Nestle Nigeria in a move that scream absolute takeover or confidence in the future of Nestle Nigeria Plc.

In the latest statement forwarded to the Nigeria’s Stock Exchange, Nestle Nigeria Plc said Nestle S.A. purchased 102,690 shares of Nestle Nigeria Plc.

The shares were acquired at N1,400 per share on November 20, 2020 at Nigerian Stock Exchange (NSE) in Lagos, Nigeria.

This is Nestle S.A.’s second purchase this month following 229,697 shares of Nestle Nigeria Plc acquired on November 9th, 2020 in Lagos, Nigeria.

Nestle S.A. has invested more than N1 billion in Nestle Nigeria Plc this year alone, forcing investors to think a gradual takeover or change of leadership is around the corner.


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Stock Market

Zenith Bank Led Most Traded Stocks After Strong Third Quarter Financial Results



Nigerian Stock Exchange

Investors traded 79.741 million Zenith Bank’s share valued at N1.913 billion on Monday following a strong positive third-quarter report released on Friday.

The leading financial institution posted N508.979 billion gross earnings in the nine months ended September 30, 2020. The highest among banks that have so far released their unaudited financial statements.

Investors traded 568.037 million shares worth N7.326 billion in 8,928 transactions during the trading hours of Monday.

The Nigerian Stock Exchange Market Capitalisation declined by N9 billion from N17.838 trillion to N17.829 trillion. While NSE All-Share Index depreciated by 0.04 percent to 34,121.78 index points.

Airtel Africa led top gainers with N25 or 5 percent to close at N525 per share. Nestle trailed Airtel with N25 or 1.82 percent to settle at N1400 per share.

Dangote Cement, BUA Cement and NEM followed with N6.6 or 3.42 percent; N2.55 or 4.77 percent and N0.02 or 0.78 percent to finish the day at N199.8 per share; N56 per share and N2.6 per share, respectively. See the details below.

Top Traded Stocks

Symbols Volume Value
ZENITHBANK 79,740,780 N1,912,937,383.60
FBNH 72,749,297 N499,576,761.15
ACCESS 65,741,063 N520,344,059.70
UBA 46,968,616 N360,036,464.00
GUARANTY 37,096,752 N1,266,010,624.80

Top GainersĀ 

Symbols Last Close Current Change %Change
AIRTELAFRI N500 N525 25 5.00%
NESTLE N1375 N1400 25 1.82%
DANGCEM N193.2 N199.8 6.6 3.42%
BUACEMENT N53.45 N56 2.55 4.77%
NEM N2.58 N2.6 0.02 0.78%

Top LosersĀ 

Symbols Last Close Current Change %Change
STANBIC N43 N39.55 -3.45 -8.02%
WAPCO N24.5 N22.05 -2.45 -10.00%
FLOURMILL N27.75 N25.4 -2.35 -8.47%
GUINNESS N19.9 N18 -1.9 -9.55%
ARDOVA N15 N13.5 -1.5 -10.00%

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Stock Market

Nigerian Stock Exchange Dips by N47 Billion Despite Huge Jump Last Week



Nigerian Stock Exchange

The Nigerian Stock Exchange market capitalisation dips by 2.57 percent or N47 billion from N18.308 trillion it closed with last week. This was after the bourse differs economic uncertainties to rise above the 5 percent threshold the previous week.

The NSE All-Share Index closed at 34,136.82 index points, resulting in a decline of 2.57 percent or 900.46 index points from 35,037.46 index points it closed last week.

Investors traded 11.400 billion shares worth N35.892 billion in 39,265 deals, this was in contrast to a total of 4.509 billion shares valued at N58.733 billion that exchanged hands in 47,140 deals in the previous week.

Leading by volume, the Construction/Real Estate industry contributed 74.82% and 16.87% to the total equity turnover volume and value of the market respectively, with 8.529 billion shares valued at N6.055 billion traded in 438 deals.

This was followed by the Financial Services industry with 1.991 billion shares worth N19.933 billion in 21,725 deals.

In third place was the Conglomerates Industry, with a turnover of 423.702 million shares worth N526.698 million in 1,962 deals.

UAC- Property Development Company Plc, Transnational Corporation of Nigeria Plc and Jaiz Bank Plc led equities traded by volume with a combined 9.259 billion shares worth N6.639 billion in 1,958 deals, thereby contributing 81.22% and 18.50% to the total equity turnover volume and value, respectively.

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