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.…
UAC appoints Aiyesimoju GMD/CEO
The Board of Directors of UAC of Nigeria PLC (UAC) has announced the appointment of Folasope Babasola Aiyesimoju as the company’s Group Managing...
Oriola becomes UAC’s group finance director
UAC of Nigeria Plc has announced the appointment of Ibikunle Ibiyinka Oriola as Group Finance Director. Oriola is a seasoned professional with 17 years experience gained from diverse functional roles spanning finance, strategy, risk management and corporate finance. He has provided strategic finance leadership, driving transformational and growth agenda of conglomerate businesses spanning several sectors…
Profit taking takes toll on NSE as indices plunge marginally by N17b
Following profit taking by investors, the Nigerian equity market reversed its positive performance yesterday, as market capitalisation plummeted by N17 billion. Specifically, at the close of transactions yesterday, the All-Share Index (ASI) shed 45.40 absolute points, representing a dip of 0.14 per cent to close at 32,568.65 points. Similarly, the market capitalisation shed N17 billion…