Headlines news

Investors Lose N49.21bn as NGXASI Dips by -0.22% Amid Negative Market Breadth

Equities market closed on a negative note, as NGXASI depreciated by -0.22% to close at 43,349.90 basis points as against +0.49%  appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +7.65%.  

Market breadth closed negative as ABCTRANS led 14 Gainers as against 21 Losers topped by NEIMETH at the end of today’s session – an unimproved performance when compared with previous outlook.         

Market turnover closes negative as volume moved down by -37.53% as against +44.44% uptick recorded in the previous session. FBNH, INTBREW and GUARANTY were the most active to boost market turnover.  NESTLE and FBNH topped market value list.

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

Pension funds embrace stocks as bond yields decline

Nigeria’s pension funds are finding solace in domestic stocks with N874 billion investments as of September 30, 2021, amid declining bond yields, according to figures from the National Pension Commission (PenCom).

Nigeria must address post-harvest losses to drive agric growth – Experts

For Nigeria to stabilize and drive growth in its agricultural sector, it must adopt technologies and initiate effective policies to address post-harvest losses stifling food security, experts in the cold chain industry have said

e-Naira drawing interest from outside world – IMF

The International Monetary Fund (IMF) on Tuesday said the launch of e-Naira by the Central Bank of Nigeria (CBN) is drawing substantial interest from the outside world, including from central banks.

Nigerians grumble as Cooking Gas price keeps rising

In recent times, Nigerians keep on grumbling over the continuous rise in prices of cooking gas (liquefied petroleum gas). Many of them buy fewer quantities each time, while others who can afford high prices pay almost triple the amount for the same quantity as in 1999.

Nigerians enrollment in US universities hits 3-year low

For the first time in three years, the number of Nigerian students seeking admission into universities in the United States of America (USA) dipped by 6.5 percent in 2020/2021, a BusinessDay analysis of a new admission data shows.

Oil price falls after petrol stocks drop more than expected

Oil prices dropped on Wednesday after US petrol stocks fell more than expected last week, which could heighten pressure on Biden’s administration to release oil from emergency reserves to cap soaring petrol prices. US West Texas Intermediate (WTI) crude futures fell 76c, or 0.9%, to $80.00 a barrel

2020: Mining sector reforms yield 26.7% revenue increase – Osinbajo

On the back of a strong policy and regulatory framework, diligently and methodically developed over the years, Nigeria’s mining sector has seen its revenue grow by 26.7percent in 2020, Yemi Osinbajo, Vice President has said.

 

 

Nigerian Aviation Handling Company Plc Reports N878m Profit in Q3 2021 Results,(SP: N3.50K)

Nigerian Aviation Handling Company Plc released its 9 months 2021 Unaudited results for the period ended September 30th, 2021.

Key Highlights

  • Revenue grew by 44% to N7.5bn from N5.2bn in the previous quarter.
  • Profit before tax stood at N1.2bn.
  • Profit after tax stood at N878m.
  • Net Assets grew by 32.6% from N5.4bn to N7.2bn.
  • Share Price Currently Stands at N3:50k

NINE MONTHS UNAUDITED REPORT FOR THE PERIOD ENDED 30 SEPT

 2021 N’m2020 N’m% Change
 SEPTSEPT 
Revenue7,4485,18043.8%
PBT1,160(76)1,626.30%
Taxation(281.369)10.114-2,882.00%
PAT878(66)1,431.4%
Totai Comprehemsive Income878(66)1,431.4%
EPS53(5)1,160.0%
                             Balance Sheet Information
Net Asset7,2185,44432.6%

Fitch Assigns UBA’s USD1.5bn GMTN Programme Final Rating ‘B’

Fitch Ratings has assigned United Bank For Africa’s (UBA) USD1.5 billion global medium-term note programme (GMTN) final long- and short-term ratings of ‘B’.

Fitch has also assigned UBA’s USD300 million 6.75% senior unsecured notes (senior notes) due 2026, to be issued under the GMTN programme, a final rating of ‘B’ and a Recovery Rating (RR) of ‘RR4’.

The GMTN programme allows for borrowings for various tenors in the form of both senior unsecured and subordinated debt notes. The final programme ratings are in line with UBA’s Long- and Short-Term Issuer Default Ratings (IDR) of ‘B’, and apply only to senior unsecured notes issued under the programme.

In the case of subordinated debt issuance, the issue’s features will require further evaluation for the purpose of assigning a rating. There is no assurance that all notes issued under the programme will be rated or that all rated notes will be aligned with the programme rating.

The assignment of final ratings to both the GMTN programme and senior notes follows the receipt of final documents conforming to information already received by Fitch.

Fidelity Bank Plc Reports N26.5bn PAT in 9 months 2021 Unaudited Results,(SP:N2.66k)

Fidelity Bank Plc released its Q3 2021 Unaudited results for the period ended September 30th, 2021.

Key Highlights

  • Revenue grew by 12.5% to N174.4bn from N155bn in the previous quarter.
  • Profit before tax grew by 31.4% to N28bn.
  • Profit after tax grew by 29.9% to N26.5bn.
  • Net Assets grew by 7.8% from N262.2bn to N282.7bn.
  • Share Price Currently Stands at N2.66k

NINE MONTHS UNAUDITED REPORT FOR THE PERIOD ENDED 30 SEPT

 2021 N’m2020 N’m% Change
 SEPTSEPT 
Gross Earnings174,354155,03012.5%
PBT28,05121,34831.4%
Taxation(1,539)(943)-63.2%
PAT26,51220,40629.9%
EPS927031.4%
                             Balance Sheet Information
Net Asset282,651262,1747.8%

 

About the Author

n6c9lKmlbH

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these