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.
Stock Market Closes Flat on Tuesday as Activities Drop
The Nigerian Exchange Limited (NGX) closed flat on Tuesday after posting a N27 billion gain on Monday.
Investors exchanged 353,233,206 shares estimated at N5.569 billion in 5,322 transactions during the trading hours of Tuesday, against 674,498,620 shares worth N7.591 billion that were traded in 5,432 deals on Monday.
The NGX All-Share Index closed flat at 41,814.94 index points on Tuesday. Similarly, the market value of all listed equities remained unchanged at N21.821 trillion.
FBN Holdings continue to lead the most traded stocks with 73062391 shares worth N906,754,975.05 on Tuesday. This was followed by GTCO Plc’s 25039191 shares valued at N715,262,785.80 following a healthy financial statement released for the third quarter ended September 30, 2021, on Tuesday. GTCO’s profit after tax rose by 4.11 percent to N49.986 billion.
Universal Insurance led gainers with N0.02 or 10 percent gain to close at N0.22 a share. University Plc emerged second with N0.15 or 10 percent increase to settle at N1.65 a unit. See other details below.
Top Five Trades
|UNIVINSURE||N 0.20||N 0.22||0.02||10.00 %|
|UPL||N 1.50||N 1.65||0.15||10.00 %|
|COURTVILLE||N 0.41||N 0.45||0.04||9.76 %|
|ABBEYBDS||N 0.86||N 0.94||0.08||9.30 %|
|INTBREW||N 4.85||N 5.30||0.45||9.28 %|
Top Fiver Losers
|ABCTRANS||N 0.34||N 0.31||-0.03||-8.82 %|
|FTNCOCOA||N 0.48||N 0.45||-0.03||-6.25 %|
|CUTIX||N 6.40||N 6.05||-0.35||-5.47 %|
|NGXGROUP||N 20.60||N 19.65||-0.95||-4.61 %|
|SOVRENINS||N 0.24||N 0.23||-0.01||-4.17 %|
Top Five Trades
Nigerian Stock Market Gains N27 Billion on Monday
The Nigerian Exchange Limited (NGX) opened the week in green as more stocks extended their gains on Monday.
Market value of all listed stocks rose by N27 billion from N21.794 trillion it closed on Friday to N21.821 trillion on Monday. While the NSE All-Share Index appreciated by 0.12 percent to 41,814.74 index points, up from 41,763.26 index points it closed on Friday.
Investors traded 674,498,620 shares worth N7.591 billion in 5,432 transactions during the trading hours of Monday.
PZ led gainers with N0.55 or 9.32 percent to close at N6.45 per share. This was followed by Mutual Benefits Assurance Plc with N0.02 or 7.14 percent to settle at N0.30 a unit. See other details below.
Top Five Gainers
|PZ||N 5.90||N 6.45||0.55||9.32 %|
|MBENEFIT||N 0.28||N 0.30||0.02||7.14 %|
|UNILEVER||N 14.50||N 15.50||1.00||6.90 %|
|MANSARD||N 2.31||N 2.46||0.15||6.49 %|
|CUTIX||N 6.05||N 6.40||0.35||5.79 %|
Top Five Losers
|ABBEYBDS||N 0.95||N 0.86||-0.09||-9.47 %|
|PRESTIGE||N 0.47||N 0.43||-0.04||-8.51 %|
|REGALINS||N 0.41||N 0.38||-0.03||-7.32 %|
|CILEASING||N 4.70||N 4.40||-0.30||-6.38 %|
|NGXGROUP||N 22.00||N 20.60||-1.40||-6.36 %|
Top Five Trades
Nestle Nigeria Declares N25 Interim Dividend for the Period Ended September 30, 2021
Shareholders of Nestle Nigeria Plc would be currently smiling to the bank as the company announced an interim dividend of N25 per 50 Kobo ordinary share, subject to withholding tax, to shareholders whose names appear on the register of members as at the close of business on 19 November 2021.
Going by the company’s outstanding shares of 792,656,252, the amount translates to N19.816 billion.
The register of members would be closed from 22 November 2021 to 26 November 2021. On 6 December 2021, the dividend would be paid electronically to shareholders whose names appear on the register of members on 19 November 2021 and who have completed the e-dividend registration and mandated the registrars to pay their dividends directly into their bank accounts. The registrar of Nestle Nigeria Plc is Greenwich Registrars and Data Solutions Limited.
This comes as Nestle reported a 23 percent increase in revenue for the period, N261 billion was earned in the period ended September 2021 compared to N212 billion in the period ended September 2020. The company has two reporting segments, Food which includes the production and sale of Maggi, Cerelac, Nan, Lactogen, and Golden Morn and Beverages which includes the production and sale of Milo, Chocomilo, Nescafe, Milo ready-to-drink (RTD), and Nestle Pure Life. The Food segment reported a revenue of N154 billion while the Beverages segment reported a revenue of N107 billion during the period. N258 Billion of revenue was earned in Nigeria and N3 Billion was earned from exports to other countries.
Cost of sales, however, rose from N122 billion in the year ending September 2020 to N160 Billion in September 2021 and this saw profit for the period rise slightly by 5% from N31 Billion to N33 Billion. Earnings per share rose from N40.29 in 2020 to N42.37 in 2021.
Nestle Nigeria Plc is one of the largest food and beverage companies in Africa. For over 57 years, Nestle has been delighting consumers in Nigeria with high-quality nutritious food products. Nestle has a staff strength of over 2,300 direct employees, 3 manufacturing sites, and a head office in Lagos and produces several iconic brands in Nigeria.
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