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Insider Dealing: UBA Director Purchases 3m UBA Shares



UBA Insider dealings

Another UBA Executive Director Buys 3m UBA Shares

The United Bank for Africa Plc on Thursday disclosed that one of its executive directors, Ayoku Liadi, purchased 3,000,000 UBA shares at N6.05 per share.

In a statement signed by Bili A. Odum, Company Secretary, UBA and released through the Nigerian Stock Exchange on Thursday, the bank said Mr. Liadi purchased ordinary shares of United Bank for Africa Plc on July 15, 2020 at the Nigerian Stock Exchange in Lagos.

This was before Tony O. Elumelu, the bank’s Chairman, bought 69,623,927 shares between July 20 and 21, 2020. Bringing the total purchase by insiders in the month of July to 72,623,927 shares.

Investors King’s comment, please note that the move by the lender’s top executives suggested that insiders with more robust information on the future direction of the company are bullish going forward.

This is one of the reasons Investors King has made it a duty to track all insider dealings and connect the dots. See the details below.

UBA insider dealingUBA insider dealing

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.

Nigerian Stock Exchange

AIICO, Access, WAPIC, Others Gain Even as More Stocks Closed in Red



Nigerian Exchange Limited - Investors King

More stocks closed in the red despite AIICO, Access Bank and others closing in the green on Tuesday. The sell-off in the banking stocks ahead of the December holidays further dragged on the Nigerian Exchange Limited on Tuesday.

Investors exchanged 224,910,096 shares worth N3.708 billion in 4,331 transactions during the trading hours of Tuesday, against 213,126,324 shares valued at N2.359 billion that were traded in 4,105 transactions on Monday.

Market value of listed equities dipped to N22.567 trillion on Tuesday, while All-Share Index sheds 0.05 percent to 43,248.05 index points.

A total of 12 stocks closed in the green against 24 that closed in the red. The Exchange Year-to-date return drop slightly further to 7.39 percent.

Sectorial analysis showed the NGX Banking Index gained 26bps on ACCESS (+4.40%), ETI (+3.73%) and UBA (+0.63%). Losers included UBN (-6.19%), WEMABANK (-1.25%) and ZENITHBANK (-1.03%).

The NGX Consumer Goods Index lost 21bps on HONYFLOUR (-1.25%), DANGSUGAR (-1.22%), PZ (-0.83%), and GUINNESS (-0.82%).  NASCON (+0.35%) was a gainer in that space today.

The NGX Oil and Gas Index lost 40bps on OANDO (-2.04%). The NGX Industrial index shed 4bps on WAPCO (-0.60%). See other details below.

Top Five Gainers

Symbols Last Close Current Change %Change
AIICO N 0.76 N 0.83 0.07 9.21 %
ACCESS N 9.10 N 9.50 0.40 4.40 %
WAPIC N 0.48 N 0.50 0.02 4.17 %
ETI N 8.05 N 8.35 0.30 3.73 %
FCMB N 3.00 N 3.10 0.10 3.33 %

Top Five Losers

Symbols Last Close Current Change %Change
UPDCREIT N 4.55 N 4.10 -0.45 -9.89 %
IKEJAHOTEL N 1.35 N 1.22 -0.13 -9.63 %
UPDC N 1.18 N 1.07 -0.11 -9.32 %
CHAMS N 0.22 N 0.20 -0.02 -9.09 %
UBN N 4.85 N 4.55 -0.30 -6.19 %

Top Five Trades

Symbols Volume Value
ACCESS 42181454.00 389702768.45
ZENITHBANK 38967176.00 935403621.60
FBNH 16894152.00 198726807.40
GTCO 16670783.00 413978634.60
AIICO 12856166.00 10513305.13

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Stock Market

Tesla Stock Rises, Elon Musk Now $12bn Richer



Tesla earnings

Shares of electric vehicle maker Tesla went up by more than 5% on Monday, making the billionaire Tesla Chief Executive Officer about $12 billion richer.

This came after Musk encouraged employees to reduce the costs of delivery, also amid reports that the automobile company will be kicking off production at its Gigafactory located in Germany within the next few days.

The Tesla stock has been on the move recently, and on Monday it went up by more than 5% to now sit at about $1,137 per share. The automobile company’s shares are depending on the news that the company will begin production at its first factory situated in Europe. The operation of the factory in Germany is a major leap for the company, as it aims to ramp up its production capacity.

A German automobile news site reported that Tesla’s new manufacturing facility in the country is anticipated to be given environmental permits, and will therefore begin production within the next few days.

In the initial plans, production should have begun in the summer of 2021 but construction of the factory was had been held back due to staunch opposition from environmental activists who did not agree with the construction of another factory.

Another reason for the rise in Tesla stock is a memo that CEO Elon Musk sent out to the company employees, where he encouraged them to place their focus on minimizing the cost of deliveries rather than rushing out the orders just to meet sales targets.

The rise in Tesla’s stock on Monday has seen the company’s CEO Elon Musk’s fortune go up by over $12 billion. According to Forbes’ estimates, the billionaire CEO’s net worth has now risen to $295 billion. The richest man in the world saw his worth rise by approximately $12.8 billion.

This year, Tesla’s stock has risen a total of 56% and the automobile company has a market valuation of about $1.14 trillion.


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Nigerian Stock Exchange

NGX Opens the Week in Red



Stock Bull - Investors King

The Nigerian Exchange Limited (NGX) All-Share Index open the new week in the red as 21 stocks lost points against 14 stocks that gained.

Investors exchanged 213,126,324 shares worth N2.359 billion in 4,105 transactions during the trading hours of Monday. NGX All-Share index depreciated by 0.09 percent to 43,270.94 index points while the market value of all listed equities dipped to N22.5 trillion.

Sectorial performance showed, the NGX Banking Index lost 18bps on FIDELITYBK (-1.57%), UBA (-1.23%) and ZENITHBANK (-0.62%).  Gainers were UNITYBNK (+1.92%), ACCESS (+1.11%) and UBN (+1.04%).

The NGX Consumer Goods Index closed down 23bps on INTBREW (-4.00%), PZ (-1.64%), and FLOURMILL (-0.34%).  Gainers were VITAFOAM (+1.86%) and HONYFLOUR (+1.01%).

The NGX Oil and Gas Index lost 56bps on OANDO (-2.78%) and the NGX Industrial index closed flat. See other details below.

Top Gainers

Symbols Last Close Current Change %Change
AIICO N 0.70 N 0.76 0.06 8.57 %
LIVINGTRUST N 0.88 N 0.95 0.07 7.95 %
VERITASKAP N 0.21 N 0.22 0.01 4.76 %
ABCTRANS N 0.33 N 0.34 0.01 3.03 %
COURTVILLE N 0.39 N 0.40 0.01 2.56 %

Top Losers

Symbols Last Close Current Change %Change
UPDC N 1.31 N 1.18 -0.13 -9.92 %
UPDCREIT N 5.05 N 4.55 -0.50 -9.90 %
CHIPLC N 0.55 N 0.51 -0.04 -7.27 %
REGALINS N 0.42 N 0.40 -0.02 -4.76 %
WAPIC N 0.50 N 0.48 -0.02 -4.00 %

Top Trades

Symbols Volume Value
FCMB 58454159.00 179917656.01
AIICO 13506766.00 10386849.32
ZENITHBANK 12777540.00 308695312.45
GTCO 12388518.00 309673484.65
ACCESS 10902798.00 98519241.15

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