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Experts Says Yes to Access Bank Shares, Predicts Growth

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Access bank

Analysts at United Capital Plc, an investment banking group, have said Access Bank is a good stock to buy given its recent acquisition and series of adjustments made to its strategies.

The analysts said the bank that recently expanded its operations to Cameroon, Kenya, Zambia and South Africa has the possibility of double-digit capital appreciation of about 14 percent.

We expect Access Bank to sustain top and bottom-line expansion in 2021. While non-interest income growth should taper going forward, as the economy stabilises, we imagine that rebounding asset yields, supported by massive balance sheet size and gains from expansion activities, should spur interest income growth,” United Capital stated.

The experts said the bank’s well-diversified loan book is expected to sustain asset quality and thus keep non-performing loans and cost of risk within prudential limits.

Therefore, the analysts expect pre and post tax profits to remain stable in 2021, a continuation of 13 percent pre tax profit growth filed in 2020.

As such, in addition to the already concluded acquisitions, plans are currently in place to enter Morocco, Algeria, Egypt, Ivory Coast, Senegal, Angola, Namibia and Ethiopia. A sum of $60 million was paid to acquire south Africa’s Grobank, a major milestone in the bank’s foray into the south African market and a critical factor in driving intra-African trade by widening its trade finance operations,” United Capital stated.

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.

Nigerian Stock Exchange

Equities Market Sheds N92 Billion on Monday

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Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited (NGX) closed in the red on Monday as the NGX market value declined by N92 billion from N20.579 trillion it closed on Friday to N20.487 trillion on Monday.

During the trading hours of Monday, investors traded 357.693 million shares valued at N3.565 billion in 4,394 transactions.

NGX All-Share Index dipped by 0.44 percent from 39,481.89 index points on Friday to 39,306.47 index points on Monday.

Once again, Eterna led the gainers’ table with N0.65 or 9.85 percent gain to close at N7.25 per share. Royalex followed with N0.07 or 9.21 percent to settle at N0.76 per share. See the details below.

Top Gainers

Symbols Last Close Current Change %Change
ETERNA N6.60 N7.25 0.65 9.85%
ROYALEX N0.76 N0.83 0.07 9.21%
CAPHOTEL N2.20 N2.40 0.20 9.09%
REGALINS N0.34 N0.37 0.03 8.82%
STERLNBANK N1.48 N1.60 0.12 8.11%

Top Losers

Symbols Last Close Current Change %Change
ENAMELWA N19.90 N17.95 -1.95 -9.80%
AFRIPRUD N6.50 N6.05 -0.45 -6.92%
NPFMCRFBK N1.87 N1.75 -0.12 -6.42%
WEMABANK N0.58 N0.55 -0.03 -5.17%
MANSARD N0.91 N0.88 -0.03 -3.30%

Top Trades

Symbols Volume Value
ZENITHBANK 52,676,150.00 N1,246,704,921.80
FBNH 42,468,764.00 N307,147,644.25
NEM 39,448,870.00 N88,645,743.60
SOVRENINS 23,616,600.00 N6,158,493.20
FIDELITYBK 23,329,800.00 N55,768,337.49

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Nigerian Stock Exchange

Eterna Plc Sustains Bullish Run on Monday; Rises to 52-Week High

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Eternal Oil - Investors King

Eterna Plc, a leading lubricants and petroleum products manufacturer in Nigeria, led stock gainers with 9.89 percent on Monday to settle at N7.25 per share, its highest price in 52 weeks after a 13.6 percent gain last week.

Investors traded 676,878 shares of Eterna valued at N4.880 million during the trading hours of Monday.

In the 9 trading days ended Friday, May 14, 2021, Eternal gained 25 percent from N5.81 per share it traded on May 7th 2021 to N7.25 on May 17th 2021 before moderating to N6.6 per on Monday (today).

Eterna closed in the green despite the Nigerian Exchange Limited All-Share Index declining by 0.44 percent on Monday to settle at 39306.47 index points.

It led the gainers’ table again on Monday after emerging the highest gainer on Friday.

However, experts at Cordros Securities do not think the market will sustain last week bullish run in the week ahead.

They said “In the week ahead, we do not think the bulls will repeat the flawless victory that ensued this week as the bears are likely to book profit across most counters. Consequently, we see more of a “choppy theme” as cautious trading takes centre stage ahead of a critical MPC meeting scheduled later in the month.

“Notwithstanding, we advise investors to take positions in only fundamentally justified stocks as the weak macro story remains a significant headwind for corporate earnings.”

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Nigerian Stock Exchange

Aliko Dangote, Tony Elumelu and Other Industry Leaders To Speak At The launch of NGX’s The Stock Africa Is Made Of Campaign

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NGX NSE- Investorsking

The campaign will be launched at a virtual event scheduled to hold on Tuesday, May 18.
Industry leaders, including Aliko Dangote and Tony Elumelu, are to speak at the launch of the Nigerian Exchange Group (NGX Group)’s The Stock Africa Is Made Of campaign on Tuesday, May 18, 2021.

NGX Group is set to launch The Stock Africa Is Made Of Campaign to project its positioning and commitment to the African financial markets as a leading capital market infrastructure provider, connecting Nigeria, Africa and the world.

The campaign will be launched at a virtual event scheduled to hold on Tuesday, May 18, 2021, with Dangote and Elumelu as speakers.

Other industry leaders expected to speak at the event include Otunba Abimbola Ogunbanjo, Group Chairman, NGX Group Plc; Zainab Ahmed, Honourable Minister of Finance, Budget and National Planning, Federal Republic of Nigeria; Lamido Yuguda, CFA, Director-General, Securities and Exchange Commission; Masai Ujiri, President, Toronto Raptors; Temi Popoola, CFA, Chief Executive Officer (CEO), NGX; and Tinuade Awe, CEO, NGX Regulation (NGX RegCo) Limited. The event will be moderated by veteran Master of Ceremonies, Ik Osakioduwa.

The Stock Africa Is Made Of comes on the back of the successful demutualisation of The Nigerian Stock Exchange which led to the emergence of NGX Group Plc and its three subsidiaries – Nigerian Exchange (NGX) Limited, NGX Regulation (NGX RegCo) Limited and NGX Real Estate (NGX RelCo) Limited.

The Stock Africa Is Made Of serves to amplify NGX Group’s new brand identity and spotlight the growth potential of the African continent.

“The Stock Africa Is Made Of is designed to reinforce the message that we are fully equipped and better positioned to champion the development of new and improved experiences for the benefit of domestic, regional and foreign stakeholders,” the Group Chief Executive Officer, NGX Group Plc, Oscar N. Onyema, OON said while commenting on the campaign.

“Built around the new corporate identity, the campaign emphasises the vibrancy and dynamism of NGX Group and its subsidiaries.

“It provides stakeholders with an immersive experience through creative messaging and opportunities for direct engagement with the brand.

“Our goal is not only to celebrate this pivotal point in our journey but to also show our stakeholders that we are ready and able to explore new frontiers in our quest to be the partner and platform of choice for meeting their business, financial and investment objectives.”

Nigerian music veteran 2baba and singer Chike will perform at the event.

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