Stock Market

Joe Biden Bolstered Stock Prices in Asia-Pacific on Monday

Published

3 weeks ago

November 9, 2020

Joe Biden Presidency Continues to Aid Prices in Asia-Pacific on Monday

Stocks responded positively to Joe Biden wins in Asia-Pacific on Monday as investors in the region jumped on financial assets in anticipation of a better approach to the China-US trade deal and global economy.

Japanese Nikkei 225 rose 2.5 percent while the Topix index expanded by 1.54 percent. South Korea’s Kospi added 1.44 percent.

Mainland Chinese stocks joined the race with the Shanghai composite gaining 1.9 percent while the Shenzhen component appreciated by 2.43 percent.

In Hong Kong, the Hang Seng index rose by 1.62 percent.

Stocks in Australia were also higher as S&P/ASX 200 expanded by 1.61 percent. The gauge of the index in the region, the MSCI index of Asia-Pacific that excludes Japan expanded by 1.43 percent.

Similarly, crude oil prices rebounded from a 4 percent decline recorded on Friday to gain over 2 percent on Monday.

Chinese yuan strengthened to 6.5789 to a US dollar after declining to over 6.65 per dollar last week.

Japanese yen also gained, rose from 104.3 against the US dollar to 103.38 per dollar.

Investors are projecting that a Joe Biden presidency would restore calmness to the world and else rising global uncertainties amid COVID-19.

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Top Ten Gainers and Losers in the Nigerian Stock Market Last Week

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Insider Dealings: Flour Mills, United Capital Disclose Insider Trading

Samed Olukoya

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.

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Stock Market

Insider Dealing: Flour Mills MD Invest N91.642 Million in Flour Mills

Published

19 hours ago

November 27, 2020

Samed Olukoya

Following the purchase of 1.95 million shares in Flour Mills of Nigeria a few days ago, the Group Managing Director, Paul Miyonmide Gbededo, has purchased another 1.34 million shares at N27.75k per share.

The company stated in a disclosure form released through the Nigerian Stock Exchange (NSE).

Mr. Gbededo bought an additional 1,336,028 shares valued at N37,074,777 on November 19, 2020 at the Nigerian Stock Exchange (NSE) in Lagos. Meaning, Gbededo invested an additional N37,074,777 into Flour Mills in what could be said as a show of confidence in the company’s future.

This brings the Managing Director’s total purchase in November to 3,284,867 shares at a combined value of N91,642,269. See the details below.

Stock Market

Insider Dealing: Fidelity Bank’s GM Purchases 1 Million Shares in the Bank

Published

20 hours ago

November 27, 2020

Samed Olukoya

The General Manager and Regional Bank Head, Fidelity Bank Plc, Mr. Kenneth Opara, has purchased 1 million shares of Fidelity Bank Plc.

The bank stated in a disclosure statement forwarded to the Nigerian Stock Exchange (NSE) on Friday.

Opara carried out the purchase in two different transactions on November 25, 2020 at the Nigerian Stock Exchange trading flour in Lagos, Nigeria.

The General Manager bought 6,000 shares at N2.78 per unit and another 994,000 at N2.79 per share. Bringing total purchase to 1 million shares at an average share price of N2.78. See the details below.

Stock Market

Bank Stocks Top Charts Amid Strong Third Quarter Performance

Published

3 days ago

November 25, 2020

Samed Olukoya

Bank stocks top both gainers’ and top traded stocks’ charts on Tuesday as investors at the Nigerian Stock Exchange continues to increase their holdings of banks’ stocks amid strong third-quarter financial results.

Zenith Bank led the most traded stocks for a second consecutive day on Tuesday following a declaration of N509 billion gross earnings and N177 billion profit after tax in the first nine months of the year.

Investors traded 71,933,841 shares of Zenith Bank valued at N1,730,151,404.20 during the trading hours of Tuesday.

Transcorp, the only non-bank stock on the top five trades, followed Zenith Bank with 37,172,526 shares worth N32,853,263.27.

Guaranty Trust Bank Plc, Access Bank and United Bank for Africa (UBA) exchanged 30,003,182 units, 29,549,235 units and 29,332,033 units estimated at N1,022,126,997.60, N243,311,726.70 and N236,303,261.20, respectively.

Investors exchanged a total of 365.414 million shares valued at N4.692 billion in 6,325 deals on Tuesday to return the bourse to the green zone after two days of consecutive declines.

The Nigerian Stock Exchange market capitalisation rose by N114 billion from N17.829 trillion it closed on Monday to N17.943 trillion on Tuesday. While the NSE All-Share Index gained 220.82 index points or 0.06 percent to 34,349.56 index points it settled on Tuesday, up from 34,119.74 index points on Monday.

Stanbic IBTC Bank led gainers with N2.8 or 7.08 percent gain to finish the day at N42.35 per share. See the details below.

Top Trades

Symbols	Volume	Value
ZENITHBANK	71,933,841	N1,730,151,404.20
TRANSCORP	37,172,526	N32,853,263.27
GUARANTY	30,003,182	N1,022,126,997.60
ACCESS	29,549,235	N243,311,726.70
UBA	29,332,033	N236,303,261.20