NSE admits THP’s N7.6b shares on daily official list
THE daily official list of the Nigerian Stock Exchange swelled Thursday, with the listing of 7,600,403,900 ordinary shares of 50 kobo at N10.00 per share in the name of Transcorp Hotel Plc. The listing, added N79 billion value to the entire market capitalization of the NSE. The company’s vision is to be the…
NSE, JSE strategise to boost regional market
THE Johannesburg Stock Exchange (JSE), South Africa, is developing a strategic partnership with Nigerian Stock Exchange (NSE) that will benefit investors and create opportunities for cross-listing on both Exchanges. The two Exchanges are confident the collaboration will complement each other and ultimately strengthen other African economies. The JSE, which ranks 19th largest exchange by market capitalisation in the world and the largest in Africa, offers secure, efficient primary and secondary capital markets across a diverse range of instruments,…
Five firms account for 51% of transactions on the Exchange
AS the management of the Nigerian Stock Exchange (NSE) presents the score card of the market for 2014 tomorrow, data obtained from it has shown that five top stocbroking firms accounted for 51 per cent equity transactions valued N1.362 trillion during the period. The companies are Stanbic IBTC Stockbroking Limited, CSL Stockbrokers Limited, Rencap…
Market capitalisation up by N51 billion
The bulls continued to maintain a firm grip on the equity sector of the Nigerian Stock Exchange yesterday despite the few price gains recorded by some highly capitalised stocks, resulting to a further rise in market capitalisation by N51billion.Specifically, at the re-opening of the market for the week yesterday, 48 stocks appreciated in price while…
South African stocks hit 14 month record high
SOUTH African stocks rallied for the first day in seven, rising the most in 14 months, on higher commodity prices after European policy makers unveiled a loan fund of almost $1 trillion to curb the region's debt crisis.BHP Billiton Plc, Anglo American Plc and SABMiller Plc led the FTSE/JSE Africa All Share Index up 1,146.54,…
South Africa, Kenya's market indices record mixed fortunes
SOUTH Africa's FTSE/JSE Africa All Share Index slipped 27.70, or 0.1 per cent, to 27,580.22 in Johannesburg, paring its gain this week to 0.9 per cent. Meanwhile, Kenya's All-share index closed at a 4 1/2-month high, adding 0.6 percent to 57.88 in Nairobi. Trading ended an hour earlier at 1 p.m. local time.
Continental Reinsurance records N5.3b gross earnings in third quarter
CONTINENTAL Reinsurance Plc has presented its unaudited financial performance for the third quarter ended September 30, 2009, to the council of the Nigerian Stock Exchange (NSE). The result showed that the company recorded gross premium of N5.3 billion against N3.9 billion in the comparable period of 2008.
Dangote Flour Mills declares N46.9b turnover in third quarter
FOR the third quarter ended September 30, 2009, Dangote Flour Mills Plc, has declared operating profit of N10.53 billion, up from N4.03 billion recorded within the same period in 2008. Profit after tax, according to the company is N7.6 billion against N1.8billion recorded within the same period in 2008 while earnings per share also went up from 35k per share to 152k.
Further losses by blue chip stocks depreciate indices on the Exchange
Continued share price depreciations suffered by many blue chip stocks, yesterday, further depressed the corporate performance indicators of the Nigerian Stock Exchange (NSE) by 0.8 per cent, thus strengthening the hold of the bears on the equities sector.
Geo-Fluids to boost share capital by N2b, offers bonus issue
As part of measures to reposition itself for 2010, Geo-Fluids Nigeria Plc has concluded plans to boosts its working capital by N2 billion through the issuance of bond, equities to shareholders and rights issues.
Market capitalisation drops further by N51 billion
TRANSACTIONS on the Nigerian Stock Exchange (NSE), closed on a moderate note yesterday, as 602.7 million shares, valued at N4.1 billion was exchanged in 8,183 deals, over 542.5 million units worth N4.1 billion deals on Monday. However, heavy share price losses suffered by most blue chip companies brought down market indices further by 0.9 per cent.