Stock Price List for August 30, 2021
Dear Client/Reader,
Please find here our Stock Price list for today August 30, 2021
30
Aug
30
Aug
Weekly Market Review & Stock Recommendations – August 30, 2021
Dear Client/Reader,
Global Economic Roundup
Oil Rebounds 3% After Seven-Day Losing Streak
Oil prices jumped 3% early on Monday, snapping the longest losing streak since 2019 of seven consecutive settlements in the red, as investor risk appetite increased and the U.S. dollar softened. As of 8:04 a.m. EDT on Monday, WTI Crude had jumped by 3.19% at $64.10 and the prompt price of Brent Crude traded up 3.24% at $67.27. Last week, the strengthening U.S. dollar, the surging Delta variant cases in major economies, and the Fed’s signal that it would start tapering stimulus sparked a sell-off on the markets, with risk assets and commodities hammered the worst.
U.S. Stocks Rise on Powell’s Dovish Taper Tone
U.S. equities gained to record highs after a key speech by Jerome Powell, in which the Federal Reserve chair reinforced the message that it would be appropriate to begin tapering the Fed’s bond purchases by the end of the year. The S&P 500 and Nasdaq 100 rose during the much-anticipated address from the Jackson Hole symposium, where traders had hoped to gain more insight into the central bank’s thinking about unwinding stimulus. Treasury yields fell and the dollar was weaker against peers. U.S. equities rose earlier on Monday as U.S. regulators granted full approval for the vaccine made by Pfizer Inc. and BioNTech, a milestone expected to help bolster the immunization drive amid a renewed surge in infections.
President Buhari announces N287 billion after tax profit by NNPC
President Muhammadu Buhari, who doubles as the substantive Minister of Petroleum Resources, has announced that the state-owned oil company, the Nigerian National Petroleum Corporation (NNPC), posted a Profit after Tax of N287 billion for the year 2020. The declaration by the president was in fulfilment of an earlier pledge by the Federal Government to publicly announce the financial position of the NNPC. The president who made the declaration, noted that the net profit was the first in the 44-year history of the establishment. The announcement of the profit is coming about a week after the Federal Government said that the NNPC is set to turn to a full-fledged commercial entity as it will become a limited liability company within the next 6 months.
Some of our recommended stocks are mentioned below;
ZENITH BANK PLC:
Zenith Plc Q2’2021 result showed that Net interest income increased marginally by 1.61% to N159.94bn in Q2’2021 from N157.4bn in Q2’2020. Profit before tax advanced by 2.57% from N114.12bn recorded in Q2’2020 to N117bn in the current period. Profit after tax grew by 2.21% from N103.83bn in Q2’2020 to N106.12bn in Q2’2021, despite a 6.23% increase in income tax expense. Consequently, earnings per share went up by 2.42% from N3.30 in Q2’2020 to N3.38 in Q2’2021. Zenith Bank has a BVPS of N36.42, P/BV of 0.67x and P/E ratio of 3.61x.
FBNH PLC:
FBN Holdings Plc. Q2 2021 results showed that Net interest income declined by 20.91% from N131 bn in Q2’2020 to N103 bn in the current period. Operating profit increased by 9.26% from N41.55bn in Q2 2020 to N45.40bn in Q2 2021. Profit before tax advanced by 9% from N41.4bn in Q2’2020 to N45.2bn in the current period. Profit after tax went up by 6.86% from N35.64bn in Q2’2020 to N38.08 bn in the current period. Consequently, FBNH recorded a 22% drop in earnings per share from N1.35 in Q2’2020 to N1.05 in Q2’2021. FBNH has a BVPS of N21.51, P/BV of
0.35x and a P/E ratio of 3.57x.
Please find here our Weekly Market Review & Stock Recommendations for this week.
25
Aug
Daily Financial Markets Report for August 25, 2021
Equities market closes on a Flat note… ASI loses 3 Basis Point
The Nigerian Exchange Limited (NGX) closed Flat. The benchmark All Share Index
(ASI) depreciated by 0.03% to close at 39,449.82. Market Capitalization decreased
by 5.66 Billion to close at N20.553 trillion while the Year-to-Date (YtD) returns
settled at –2.04%.
What shaped today’s market direction?
Today’s market direction can be largely attributed to losses recorded in large and
mid-cap stocks in Banking, Industrial and Consumer goods sector. Some of today’s
market losers include: ACADEMY (-9.76%), UNITYBNK (-6.67%), SOVRENINS (-
4.35%), DANGSUGAR (-2.78%), NAHCO (-2.71%), OANDO (-1.86%), STERLNBANK (-
1.29%), TRANSCORP (-1.04%), ETI (-0.92%), GTCO (-0.71%), FBNH (-0.67%),
ETRANZACT (-0.49%) and ZENITHBANK (-0.41%) amongst others.
NASD Market
The NASD market closed Negative after today’s trading activities as the Unlisted
Securities Index (USI) declined by 0.81% to close at 730.28. Consequently, Market
Capitalization closed at 634.74 billion. Market activity measured by aggregate
volume decreased 58.52% while value decreased by 57.62%. Investors traded a total
of 2,378,535 units of shares valued at N41.535 million in 22 deals.
Please find here our Daily Financial Market update for today, August 25, 2021
25
Aug
Stock Price List for August 25, 2021
Dear Client/Reader,
Please find here our Stock Price list for today August 25, 2021
24
Aug
Daily Financial Markets Report for August 24, 2021
Equities market closes on a Positive note… ASI gains 7 Basis Point
The Nigerian Exchange Limited (NGX) closed Positive. The benchmark All Share
Index (ASI) appreciated by 0.07% to close at 39,460.68. Market Capitalization
increased by 13.54 Billion to close at N20.559 trillion while the Year-to-Date (YtD)
returns settled at –2.01%.
What shaped today’s market direction?
Today’s market direction can be largely attributed to gains recorded in large and
mid-cap stocks in Banking, Industrial and Consumer goods sector. Some of today’s
market gainers include: MORISON (10.00%), TRIPPLEG (9.09%), JAIZBANK (6.90%),
HONYFLOUR (4.93%), CHAMPION (4.27%), ETI (2.83%), WAPCO (2.33%),
DANGSUGAR (0.84%), ZENITHBANK (0.82%), FBNH (0.68%), UCAP (0.57%) and
GTCO (0.36%) amongst others.
NASD Market
The NASD market closed Negative after today’s trading activities as the Unlisted
Securities Index (USI) declined by 0.02% to close at 736.28. Consequently, Market
Capitalization closed at 639.95 billion. Market activity measured by aggregate
volume increased by 313.88% while value increased by 296.12%. Investors traded a
total of 5,734,531 units of shares valued at N98.012 million in 23 deals.
Please find here our Daily Financial Market update for today, August 24, 2021
24
Aug
Stock Price List for August 24, 2021
Dear Client/Reader,
Please find here our Stock Price list for today August 24, 2021
23
Aug
Daily Financial Markets Report for August 23, 2021
Equities market closes on a Negative note… ASI loses 12 Basis Point
The Nigerian Exchange Limited (NGX) closed Negative. The benchmark All Share
Index (ASI) depreciated by 0.12% to close at 39,434.69. Market Capitalization
decreased by 25.21 Billion to close at N20.546 trillion while the Year-to-Date (YtD)
returns settled at –2.08%.
What shaped today’s market direction?
Today’s market direction can be largely attributed to losses recorded in large and
mid-cap stocks in Banking, Industrial and Consumer goods sector. Some of today’s
market losers include: WAPCO (-5.29%), PZ (-4.17%), ETERNA (-2.36%), FCMB (-
2.27%), TRANSCORP (-1.03%), GTCO (-0.71%), OANDO (-0.41%) and FLOURMILL (-
0.34%) amongst others.
NASD Market
The NASD market closed Positive after today’s trading activities as the Unlisted
Securities Index (USI) advanced by 0.05 % to close at 736.43. Consequently, Market
Capitalization closed at 640.08 billion. Market activity measured by aggregate
volume decreased by 25.15% while value decreased by 21.99%. Investors traded a
total of 1,385,551 units of shares valued at N24.74 million in 20 deals.
Please find here our Daily Financial Market update for today, August 23, 2021
23
Aug
Stock Price List for August 23, 2021
Dear Client/Reader,
Please find here our Stock Price list for today August 23, 2021
23
Aug
Weekly Market Review & Stock Recommendations – August 23, 2021
Dear Client/Reader,
Global Economic Roundup
OPEC+ sees no need to meet U.S. call for more supply.
OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months, despite U.S. pressure to add supplies to check an oil price rise. The price of international benchmark Brent crude has risen 35% this year towards $70 a barrel, driven by economic recovery from the pandemic and supply restraint by the Organization of the Petroleum Exporting Countries and its partners in the alliance known as OPEC+. The latest data from OPEC and from the West’s energy watchdog – the International Energy Agency (IEA) – also indicated there was no need for extra oil.
Stocks Suffer Worst Drop in a Month; Dollar Climbs: Markets Wrap
Stocks posted their biggest decline in a month amid concern that the global economic recovery will lose momentum with further shutdowns to contain coronavirus resurgence. Traders watched closely Federal Reserve Chair Jerome Powell’s remarks during a town hall with educators and students, where he noted the central bank’s “powerful tools” have limitations. Powell also said that Covid-19 will likely stay “for a while,” and we’re not going back to a pre-pandemic economy. Policy makers will gather next week for the Jackson Hole symposium, the Fed’s most-prominent annual conference.
President Muhammadu Buhari has signed the Petroleum Industry Bill 2021 into law.
The Petroleum Industry Act aims to improve transparency in the petroleum sector, calls for 30% of the Nigerian National Petroleum Corporation’s (NNPC) profit from petroleum sharing contracts to be spent on frontier exploration and proposes a 3% share of oil revenues to be distributed to oil-producing communities. The Senate had passed the bill on July 15, 2021, while the House of Representatives did the same on July 16, thus ending a long wait since the early 2000s. Some activists from civil society organisations have condemned the bill for failing to address critical issues in the oil and gas sector, especially as they concern oil-rich communities.
Some of our recommended stocks are mentioned below;
DANGSUGAR PLC:
Dangsugar Plc’s result for Q2’2021 showed that revenue increased from N103.23bn in Q2 2020 to N131.95bn in Q2 2021 by 28%. Operating profit also increased by 35% from N17.39bn in Q2’2020 to N23.48bn in Q2 2021. Profit before tax rose by 10% from N17 bn in Q2’2020 to N18.75bn in the current period. Profit after tax increased by 9% to N12.6bn in Q2 2021 from N11.5bn in Q2 2020. EPS increased by 7% from N0.97 in Q2’2020 to N1.04 in the current period. Dangsugar Plc has a BVPS of N9.80, P/BV of 1.82x and P/E ratio of 8.58x.
MTNN PLC:
MTNN’s Q2 2021 results showed an increase in revenue by 24% from N638bn in Q2’2020 to N791.26bn in Q2’2021. Operating profit advanced from N204bn in Q2’2020 to N273.7bn in Q2’2021, reflecting an increase of 34%. Profit before tax went up by 54% from N139.57bn in Q2’2020 to N215bn in the current period, due to an 11.41% decrease in finance cost. Profit after tax grew by 49% from N95bn in Q2’2020 to N141.83 bn in Q2’2021, despite a 64% surge in taxes. EPS grew by 49% to N6.97 in Q2’2021 from N4.66 in Q2’2020. MTNN has a BVPS of N9.83, P/BV of 17.50x and P/E ratio of 12.34x.
Please find here our Weekly Market Review & Stock Recommendations for this week.
20
Aug
Daily Financial Markets Report for August 20, 2021
Equities market closes on a Negative note… ASI loses 47 Basis Point
The Nigerian Exchange Limited (NGX) closed Negative. The benchmark All Share
Index (ASI) depreciated by 0.47% to close at 39,483.08. Market Capitalization
decreased by 97.54 Billion to close at N20.57 trillion while the Year-to-Date (YtD)
returns settled at –1.96%.
What shaped today’s market direction?
Today’s market direction can be largely attributed to losses recorded in large and
mid-cap stocks in Banking, Industrial and Consumer goods sector. Some of today’s
market losers include: FTNCOCOA (-6.98%), UPL (-6.20%), CADBURY (-5.03%),
INTBREW (-4.00%), SOVRENINS (-3.85%), JAIZBANK (-3.33%), WAPCO (-1.30%),
OANDO (-1.21%), ACCESS (-1.10%), CAVERTON (-1.10%), TRANSCORP (-1.02%) and
UBA (-0.66%) amongst others.
NASD Market
The NASD market closed Negative after today’s trading activities as the Unlisted
Securities Index (USI) declined by 0.11 % to close at 736.07. Consequently, Market
Capitalization closed at 639.77 billion. Market activity measured by aggregate
volume increased by 56.67% while value increased by 166.26%. Investors traded a
total of 1,851,170 units of shares valued at N31.72 million in 26 deals.
Please find here our Daily Financial Market update for today, August 20, 2021
