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Nigerian Breweries Discloses Insider Dealing by Non-Executive Director

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Nigerian Breweries PLC

Nigerian Breweries Announced 10,000 Insider Dealing

A non-executive chairman of Nigerian Breweries purchased additional 10,000 shares, according to the company.

In the statement released through the Nigerian Stock Exchange on Tuesday and signed by Uaboi G. Agbebaku, Company Secretary, the company said Chief Kolawole Babalola Jamodu, a non-Executive Chairman of the company purchased ordinary shares of Nigerian Breweries Plc.

A break down of the dealing revealed that Chief Kolawole bought 2,000 shares at N43.20, 6,000 shares at N43.25 and 2,000 shares at N43.40. Bringing aggregate volume to 10,000 shares while the average price stood at N43.27 per share.

Accordingly, the company said the transaction took place on May 28th, 2020 at the Nigerian Stock Exchange in Lagos.

NB

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

Nigerian Exchange Limited

Nigerian Exchange Dips 0.40% on Inflation Fears: All-Share Index Closes at 104,663.34 Points

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stock bear - Investors King

The Nigerian Exchange declined by 0.40% on Monday following the latest Consumer Price Index (CPI) figures released by the country’s statistics bureau.

The All-Share Index closed at 104,663.34 points while the market capitalization stood at N59.18 trillion.

Investor sentiment turned bearish as concerns over rising inflation weighed on the market.

The National Bureau of Statistics reported that the inflation rate for February 2024 surged to 31.70%, up from 29.90% in the previous month and significantly higher than the 21.91% recorded in February 2023.

Notably, both food and core inflation indices increased, reaching 37.92% and 25.13%, respectively.

Analysts at Arthur Stevens Asset Management Limited attributed the bearish outing to sell-offs driven by fears of escalating inflationary pressures.

With projections indicating a continued upswing in inflation, exacerbated by the persistent depreciation of the naira against the dollar, investors opted to offload their holdings.

Despite the market downturn, trading activities saw a substantial increase, with the number of deals rising by 40.58% to 9,077.

Volume traded surged by 32.34% to 287.45 million shares, while the value of traded shares jumped by 115.75% to N10.8 billion.

While the market sentiment remained positive, with gainers outnumbering losers, banking stocks dominated trading activities in terms of volume, led by United Bank for Africa, Guaranty Trust Holding Company, Zenith Bank, FBN Holdings, and AccessCorp.

However, notable losers included McNichos, Daar Communications, and real estate firm UPDC, with declines ranging from -7.89% to -9.30%.

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Bonds

African ESG Bond Issuance Surges to $4.4bn in 2024

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Bonds- Investors King

The landscape of sustainable investment in Africa is experiencing a significant upswing as the issuance of Environmental, Social, and Governance (ESG) bonds by African entities hit $4.4 billion in 2024.

This substantial increase highlights a growing commitment among African institutions to raise funds for investments aligned with ESG principles.

The surge in ESG bond issuance underscores a broader trend towards responsible and sustainable investing on the continent.

The African Development Bank (AfDB) emerges as a key player in this segment, having successfully issued social bonds worth $2 billion in January 2024, in addition to hybrid sustainable bonds amounting to $750 million.

Joining the AfDB in this endeavor is the Arab Bank for Economic Development in Africa (BADEA), which, with the support of the African Export-Import Bank, has issued bonds totaling €500 million.

This momentum in the ESG bond market has propelled financial institutions like BNP Paribas, JPMorgan, and Bank of America Securities into leading positions as arrangers for such bonds on the continent.

The surge in ESG bond issuance reflects a broader global trend towards sustainable finance, with the total value of emissions of this kind expected to reach $950 billion in 2024, according to Moody’s.

It is evident that ESG bonds are gaining traction in Africa, supported by development finance institutions and initiatives aimed at fostering sustainable economic growth and development across the continent.

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Nigerian Exchange Limited

Nigerian Exchange Extends Bullish Run as Investors Gain N2.123 Trillion Last Week

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Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited (NGX) extended its bullish run last week as investors gained N2.123 trillion following a N3.258 trillion profit reported in the previous week.

During the week, investors exchanged 1.773 billion shares worth N52.867 billion in 44,713 deals, against a total of 2.157 billion shares valued at N108.824 billion that exchanged hands in 51,556 deals in the previous week.

The Financial Services Industry led the activity chart with 1.136 billion shares valued at N23.185 billion traded in 19,896 deals. Therefore, contributing 64.04% and 43.86% to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 339.390 million shares worth N5.874 billion in 3,650 deals.

The third place was the Consumer Goods Industry, with a turnover of 82.645 million shares worth
N6.724 billion in 6,155 deals.

Transnational Corporation Plc, Guaranty Trust Holding Company Plc and Access Holdings Plc were the three most traded equities and accounted for a combined 677.439 million shares worth N17.287 billion in 7,789 deals. The three equities contributed 38.21% and 32.70% to the total equity turnover volume and value respectively.

The NGX All-Share Index appreciated by 3.71% or 3,754.40 index points from 101,330.85 index points reported in the previous week to 105,085.25 index points last week.

The market capitalization rose by 3.71% to close the week at N59.416 trillion, up from N57.293 trillion filed in the previous week.

Similarly, all other indices finished higher with the exception of NGX Oil and Gas and NGX Sovereign Bond which depreciated by 0.11% and 3.12% respectively.

Fifty-five equities appreciated in price during the week higher than twenty-two equities in the previous week. Twenty-four equities depreciated in price lower than fifty-six in the previous week, while seventy-five equities remained unchanged, lower than seventy-six recorded in the previous week.

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