Headlines For The Day 06/07/21

Investors Gain N103.23bn as NSEASI Inches Up Further by 0.52%; Maintains Positive Posture

Equities market closed today on a positive note, as NSEASI appreciated by +0.52% to close at 38,418.04 basis points as against +0.02% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.60%

Market breadth closed positive as MAYBAKER led 27 Gainers as against  10 Losers topped by ETERNA at the end of today’s session – an improved performance when compared with previous outlook.  

Market Turnover                                                                                             

Market turnover closes positive as volume moved up by +2.23% as against  +35.10% uptick recorded in the previous session.FIDELITYBK, FBNH and UBA  were the most active to boost market turnover. SEPLAT and ZENITHBANK topped market value list.

Volume Shockers            

UNITYBNK leads the list of active stocks that recorded impressive volume spike at the end of today’s session.        

Standard Chartered Bank Nigeria Ltd Assigned ‘B- and B’ Ratings; Outlook Stable

  • Standard Chartered Bank Nigeria Ltd. (StanChart Nigeria) is a strategically important subsidiary of Standard Chartered PLC.
  • Despite good risk-adjusted returns, its franchise is less diversified compared to top-tier banks in Nigeria.
  •  Assigned ‘B-/B’ issuer credit ratings to StanChart Nigeria, capped by the foreign currency sovereign ratings on Nigeria owing to the effects–direct and indirect–sovereign stress would have on the bank’s operations and creditworthiness.
  • The stable outlook mirrors the outlook on Nigeria.

Push for energy transition seen driving oil prices above $100

The hard push for energy transition may be setting up the conditions that will drive oil prices above $100 a barrel, Simbi Wabote, the executive secretary of the Nigeria Content Development Monitoring Board has said.

Barkindo takes swipe at ambitious plans to accelerate the end of oil

Mohammed Barkindo, the secretary general of OPEC has said that calls to discontinue the investment in oil and gas due to climate concerns are dangerous and unrealistic

Market dynamics change demand for luxury residential real estate

For developers of luxury residential real estate, good times are underway as market dynamics have changed demand in that sub-market with growing investment interest coming from ultra-high net worth individuals (UHNWIs).

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First Ideas Limited is an investment and financial advisory company established in 1994 to provide advisory services to high net worth individuals, trust funds, financial institutions and medium sized companies in growth sectors.

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