NSE defies GDP contraction, as earnings scorecards push index by 0.35%
Transactions at the Nigerian Stock Exchange (NSE) defied the impact of the recently-published 2020 second quarter (Q2) report of 6.1 per cent gross domestic product (GDP) contraction to close the week on a positive note, as the 2019 full-year corporate scorecards and ongoing half-year earnings reporting season with dividend pay-out continue to support the bull…
UPDC gears for unbundling, repositions for growth
In order to allow her operate as an independent group; UACN Property Development Company Plc (UPDC) is poised to expand with greater flexibility and a solid foundation for growth.
Renewed bargain-hunting propels equities’ rebound as indices rise by N24b
The Nigerian equities market rebounded yesterday, following renewed bargain hunting in the shares of some blue-chip stocks, as market capitalisation increased by N24 billion.
Lagos’ Suenu family takes over UAC property in Abebe village
Sequel to an agreement reached between the Suenu Chieftaincy family and its tenant, United African Company (UAC), a land measuring about 6.531 acres in Abebe village in Surulere Local Government Area
Woes of Nigeria’s auto industry keep pulsating
The recent clampdown on car dealers in the country by the Nigeria Customs Service (NCS) has continued to raise concerns, with many stakeholders describing the move as antithetical to already battered auto economy, especially when dealers depend on the trade for survival.
Stock market reverses previous gains, as index plummets by 0.7 per cent
Following price losses incurred by most blue-chip stocks, the Nigerian Stock Exchange (NSE) closed on a downward note yesterday, as the All-Share Index (ASI) slumped by 0.7 per cent.
Investors lose N109b amid sell-offs in high-cap stocks
Following massive sell-offs in most high cap stocks, Nigeria equities market resumed from the Eid-el-Kabir celebration on a decline, as market capitalisation slumped by N109 billion to close at N13.198 trillion.
UAC pays shareholders N1.8 billion
UAC of Nigeria Plc (UAC) has increased shareholders returns on investment with a total dividend payout of N1.8 billion...
Portland Paints posts N2.83b turnover, N207m profit
Portland Paints and Products Nigeria Plc, a subsidiary of UAC of Nigeria Plc, has recorded a turnover of N2.83 billion, and Profit After Tax (PAT) of N207 million in the 2018 financial year. Addressing shareholders during the company’s 2018 yearly general meeting, in Lagos, at the weekend, the Company Chairman, Mrs Esosa Balogun, said: “Despite…
Persistent bulls run pushes market index further by N408b
Sustained bargain-hunting extended the bullish run into the fifth consecutive trading day, causing market capitalisation to rise significantly by N408 billion. Yesterday, the All-Share Index (ASI) gained 927.01 absolute points, representing a growth of 3.07 per cent to close at 31,145.15 points. Similarly, the market capitalisation gained N408 billion to close at N13.718 trillion.…