Connect with us

Stock Market

Insider Dealing: Excelsior Purchased Another 1.8m share in Flour Mills

Published

on

flour mills posts 184% increase in PAT

Insider Dealing: Excelsior Purchased Another 1.8m share in Flour Mills

Excelsior Shipping Limited, one of the largest shareholders of Flour Mills, has purchased another 1.8 million shares from the company.

In a statement signed by the company’s Secretary and Legal Services Director, Umolu Joseph and released on the Nigerian Stock Exchange website, Flour Mill said Excelsior purchased 1,800,000 shares at N21 per share.

According to the company, the transaction took place on June 26, 2020 in Lagos, Nigeria.

This was in addition to the 1,429,764 shares purchased two weeks ago. Bringing Excelsior total purchase in June to 3,229,764 shares.flour mills

 

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.

Stock Market

Stock Market Gains as Dangote Cement, Mobil, Others Closed in the Green

Published

on

stock bull

Dangote Cement, Mobil, Others Boost Nigerian Stock Exchange

The Nigerian Stock Exchange closed in the green on Thursday as the stocks of mobil, dangote cement and others closed higher.

Investors traded 359.307 million shares valued at N3.873 billion in 3,576 transactions during the trading hours of Thursday.

The market capitalisation of listed equities grew to N13.581 trillion while the NSE All-Share Index gained 0.79 percent to close at 25,987.14 basis points. See the details below.

Top Trades by Volume

Symbols Volume Value
STERLNBANK 71,887,769 N83,405,971.86
GUARANTY 51,731,768 N1,345,500,739.80
ZENITHBANK 44,543,315 N759,119,098.15
FIDELITYBK 37,046,328 N67,021,470.60
FLOURMILL 29,414,759 N588,344,013.10

Top Gainers

Symbols Last Close Current Change %Change
NB N43.5 N47.85 4.35 10.00%
MOBIL N193.1 N195.1 2 1.04%
DANGCEM N134.7 N135.9 1.2 0.89%
WAPCO N13.2 N14.1 0.9 6.82%
GUARANTY N25.5 N26 0.5 1.96%

Top Losers

Symbols Last Close Current Change %Change
ARDOVA N11.4 N10.3 -1.1 -9.65%
UNILEVER N14.4 N13.6 -0.8 -5.56%
REDSTAREX N3.25 N3 -0.25 -7.69%
CAP N17.1 N17 -0.1 -0.58%
DAARCOMM N0.33 N0.3 -0.03 -9.09%

Continue Reading

Stock Market

Insider Dealings: Tony Elumelu and Family Move to Completely Takeover UBA

Published

on

Tony Elumelu

Tony Elumelu, Relatives Increase Stake in UBA

In eight different filings with the Nigerian Stock Exchange (NSE), the Board Chairman, UBA, Tony Elumelu and relatives increased stake in United Bank for Africa (UBA) in a move that suggested confidence in the lender’s future and an opportunity to increase Elumelu family’s stake in one of Africa’s largest banks.

In one of the filings, Awele Elumelu, one of the relatives purchased 156,097 shares at N5.9999 per share on Tuesday, September 22, 2020 in Lagos.

This was followed by Nneka Elumelu and Ogechukwu Elumelu, relatives of the Chairman that acquires 106,464 shares and 127,673 shares at N6.0 per share per unit on the same day in Lagos.

Ogechukwu Elumelu added 127,219 shares and another 106,428 shares at N6.0 per share to take her total purchases to 361,323 shares.

Onyinye Elumelu bought 107,250 shares at N6.0 per share while Toby Onyemaechi Elumelu purchased UBA shares in two transactions, 7,460 shares and 7,452 shares at N6.0 per share.

Tony O. Elumelu, CON, the Board Chairman of UBA, purchased 4,817,855 shares at N5.9999 per share.

Likely scenario for an all out purchases, the family may want to capitalise on the low stock price given the current weak stock market outlook or there is an underground deal or detail they are privy to as witnessed during access bank Zambian acquisition a few months back.

The move may also be a gift to relatives from one of Africa’s richest men.

Continue Reading

Stock Market

Stock Market Transactions Dip by 8.5% in August as Foreign Investors Take Back Seat

Published

on

Nigerian Stock Exchange

Foreign Investors Pullback as Transactions’ Value Dip by 8.5% in August

The total value of transactions carried out on the Nigerian Stock Exchange (NSE) in the month of August stood at N94.5 billion or US$244.27 million, representing a decline of 8.49 percent from N103.21 billion or $265.55 million posted in July.

In the NSE’s Domestic and Foreign Portfolio Investment report released for the month of August, total transactions decreased by 22.58 percent when compared to N121.99 billion achieved in August 2019.

The report noted that the total transactions executed by domestic investors decreased by 19.16 percent from N68.62 billion in July to N55.47 billion in the month of August 2020.

However, foreign transactions rose by 12.69 percent to N38.98 billion, up from N34.59 billion posted in July.

A further breakdown of the report showed the total value of transactions executed by local investors outperformed transactions carried out by their foreign counterparts by 18 percent.

Accordingly, domestic investors’ participation stood 59 percent while foreign investors account for 41 percent of all the transactions performed during the month.

Also, the total capital inflow from domestic investors stood at N29.49 billion in the month under review while foreign investors injected N17.66 billion into the bourse.

Domestic investors withdrew N25.98 billion in August, more than the N21.32 billion withdrew by foreign investors.

Continue Reading

Trending