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Mrs Virginie Darbo is Lafarge Africa New Non-Executive Director

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Lafarge Africa

Lafarge Africa Appoints Mrs Virginie Darbo as a Non-Executive Director

The Board of Lafarge Africa Plc has appointed Mrs Virginie Darbo as a Non-Executive Director with effect from 11th, December 2020.

The appointment was after Mr. Olivier Guitton, a non-executive director, announced his resignation from the company’s board effective from December 10th.

Also, read Lafarge Africa Sustains Growth in the Third Quarter, Reports N53.3bn Revenue

Profile of Mrs. Virginie Darbo

Mrs. Virginie Darbo (French) is currently the Head of Finance, Middle East & Africa at the LafargeHolcim Group.

She is a high caliber CFO with 24 years of international experience, dealing with complex environments in various finance positions.

Virginie has worked with the LafargeHolcim Group for a period of 17 years, during which she led five strategic assignments across France, China, Russia, and Algeria.

She had occupied various positions as Chief Financial Officer, Algeria; Chief Financial Officer, Russia; Project Controller, Russia; Internal Control Director, China and Asia among others.

Virginie has extended experience in crisis management. She is a change agent, greatly contributing to digital and commercial transformation, with exceptional skills in dealing with delicate situations and strategic issues. She is an inspirational leader and talent developer, managing multi-cultural teams with empathy, passion and drive.

Read Lafarge Africa Says Improved Operating Efficiency Boosts Performance in Q2 2020

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Nigerian Exchange Limited

Investors’ Profit Taking Chip Off N187bn From Nigerian Stock Market

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Nigerian Exchange Limited - Investors King

Profit-taking weakened the Nigerian Exchange Limited (NGX) by 0.33 percent on Wednesday as sell-offs persisted in 32 stocks.

As a result of this, the NGX market capitalisation of the stock market lost N187 billion to close at N56.448 trillion from N56.635 trillion.

The All-Share Index (ASI) also shed 0.33 percent or 327 points to close at 98,232.39, against 98,558.79 reported on Monday. The market didn’t trade on Tuesday (October 1) due to the 64th Independence Day celebration.

Investors King analysis of the market activities showed trade turnover settled lower, relative to the previous session, with the value of transactions down by 92.43 percent.

A total of 425.76 million shares valued at N8.45 billion were exchanged by investors in 11,954 deals, in contrast to 1.86 billion shares valued at N111.58 billion were exchanged in 10,583 deals posted previously.

Market breadth also closed negative with 32 losers and 26 gainers.

On the losers’ chart, Ellah Lakes led by 9.93 percent to close at N3.99 per share, while International Breweries led the gainers’ chart by 9.98 percent to close at N4.41 per share.

International Breweries emerged as the highest price gainer of 9.98 percent to close at N4.41, per share.

Meyer followed with a gain of 9.94 percent to close at N8.52, while Veritas Kapital Assurance increased by 9.93 percent to close at N1.66, per share.

Tripple Gee and Company rose by 9.91 percent to close at N4.99, while Deap Capital Management & Trust appreciated by 9.84 percent to close at N1.34, per share.

For the gainers, Ellah Lakes led others on the losers’ chart with 9.93 percent to close at N3.99, per share. Caverton Offshore Support Group followed with a decline of 9.92 percent to close at N2.18, while ABC Transport shed 9.57 percent to close at N1.04, per share.

Livestock Feeds depreciated by 9.03 percent to close at N2.72, while Consolidated Hallmark Holdings dipped by 7.24 percent to close at N1.41, per share.

On indices performance, the NGX Banking Index dropped by two percent and NGX Oil & Gas Index was down by 0.1  percent, while the NGX Consumer Goods Index added 1.1 percent and NGX Insurance Index appreciated by one percent. The NGX Industrial Goods index closed flat.

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Nigerian Exchange Limited

Stock Investors Gain N131 Billion on Tuesday

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Nigerian Exchange Limited - Investors King

Nigeria’s equities market opened the holiday-shortened trading week in green as investors bought banking and consumer goods stocks despite record profit taking in insurance, industrial, oil & gas stocks.

“Looking forward, the equities market is expected to retain its buy interest as investors cherry-pick undervalued stocks. However, given the sentiment that rates might have peaked in the fixed income and money markets and investors locking in on current rates, we expect some bearish undertone to persist in the equities market,” according to United Capital research analysts.

The analysts said the bulls “will remain incentivised to persist in bargain hunting, given the tremendous mid-long-term opportunities in the equities market. Fund managers and businesses may begin to entertain mid-long-term (≥6 months) investment objectives, cherry-picking only sound equities with strong fundamentals and ongoing corporate actions. This strategy will maximise market opportunities, thereby optimising portfolio returns”.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation appreciated by 0.23 percent and N131billion from preceding day’s 97,456.62 points and N56.002 trillion respectively to 97,685.63 points and N56.133 trillion.

The market’s year-to-date (YtD) return rose to 30.64 percent.

According to Meristem research analysts, “While we expect subdued participation in the Nigerian equities market this week, we anticipate that buying activity will outweigh profit-taking. Our outlook is hinged on the belief that no major negative catalysts are expected to shift market direction this week. We anticipate that investors will continue selective buying, seeking opportunities across various sectors.

“Additionally, macroeconomic developments and corporate actions from companies could stimulate moderate buying interest in the market. We also do not foresee a significant shift towards the fixed-income market as yields have started to stabilize. However, we acknowledge the potential for profit-taking as short-term investors may look to capitalize on recent gains. Overall, we expect the market to close in the green zone this week,” Meristem analysts said.

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Nigerian Exchange Limited

Nigeria’s Equities Market Gains 0.32% Boosted by Nestle, Flourmills, and FBN Holdings

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stock - Investors King

Nigeria’s equities market rose by 0.32 percent or N178billion on Thursday, thanks to Nestle, Flourmills and FBN Holdings that led the league of major advancers on the Lagos Bourse.

FBN Holdings increased from N24 to N26.40, adding N2.40 or 10percent. Caverton rose from N2.10 to N2.31, up by 21kobo or 10percent.

Flour Mills moved from N45.05 to N49.55, up by N4.50 or 9.99percent. RT Briscoe increased from N3.02 to N3.32, down by 30kobo or 9.93 percent, while Nestle rallied from N810 to N890, N80 or 9.88percent.

At the close of trading, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and equities market capitalisation increased from 96,715.04 points and N55.575 trillion respectively to 97,025.17 points and N55.753 trillion.

Access Holdings, FBN Holding, UBA, Caverton and Zenith Bank shares were most trading stocks. In 9,615 deals, investors exchanged 390,546,861 shares valued at N7.974billion.

Ahead of Thursday’s trading, analysts said broader market sentiment will remain balanced, with risk-averse investors maintaining a cautious stance ahead of any major corporate earnings announcements.

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