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Daily Business News Brief – January 8th, 2024

8
Jan

Transcorp, Chams, CWG post over 700% return on investment – Guardian
It was a harvest of capital gains for the shareholders of Transcorp Hotels Plc, Chams Holding Company Plc and CWG Plc, as they led the 10 companies that topped the winners’ chart on Nigeria Exchange Limited (NGX) in capital appreciation in 2023, with price gain that ranged from 721.8 per cent to 1,022 .9 per cent………………………… ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Three banks drive sector’s 72.3% contribution to turnover – Guardian
Three banks’ stocks – Fidelity Bank Plc, FCMB Group Plc and Sterling Financial Holdings Company Plc – dominated activities in the financial service sector of the capital market last week.
Consequently, the financial services industry (measured by volume) led the activity chart with 2.4 billion shares valued at N26.1 billion, which traded in 22,833 deals, thus contributing 72.3 per cent to the total equity turnover volume… … …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Banking Stocks Gain N749.24bn over Rally in Access Holdings, UBA, 11 Others – Thisday
As the stock market commenced 2024 on a positive note, listed banking stocks gained a total of N749.24billion in market capitalisation following investors renewed interest in Access Holdings Plc, United Bank for Africa Plc (UBA) and 11 others at the close of trades last week.
Also, the Nigeria Exchange Limited (NGX) All Share Index or ASI appreciated by 6.54 per cent Week-on-Week (WoW)… ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Fidelity Bank to List Rights Issue as Stock Price Gains 31% WoW – Thisday
The stock price of Fidelity Bank Plc appreciated by 31 per cent Week-on-Week (WoW) to N14.20 per share from N10.85 per share it opened for trading in 2024.
The stock price appreciation is on the backdrop of management’s plans to list 3.2billion ordinary shares of 50 kobo each at N10 per share on the basis of one new ordinary share for every ten existing ordinary shares rights Issue on the floor of the Nigerian Exchange Limited (NGX)………. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Consolidated Hallmark Insurance Now Holding Company – Thisday
For the board and management of Consolidated Hallmark Insurance, the new year spells a new dawn for the company with the birth of a new holding company that houses no less than five subsidiaries.
The holding company, Consolidated Hallmark Holding Company Plc, now stands as parent body for Consolidated Hall Mark Insurance Limited, CHI Micro Insurance Limited, CHI Health Management Organisation, CHI Capital Limited and Grand Treasurers Limited……… . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
New listing: Mecure Industries’ share price gains 265% in two months
• Market value is N43.2b
• Indian investors net N30.4b – TheNation
Mecure Industries Plc’s share price has risen by 264.9 per cent in two months of listing at the stock market, as continuous trading unlocked the potential value in the healthcare management group.
Market value of Mecure Industries, which was listed on November 8, 2023 with initial valuation of N11.84 billion, opens today at N43.2 billion, representing net capital gain of N31.36 billion over the two-month period………. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Foreign investors double stakes in Nigerian Market
• Stock Market records largest turnover in 3 years – TheNation
Transactions by foreign investors at the Nigerian market have doubled to the highest level in three years.
Latest report on Foreign Portfolio Investments (FPIs) obtained by The Nation at the weekend indicated a major positive shift in their sentiment and participation in the Nigerian investment market……… . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
How naira depreciation threatens equipment acquisition – NAHCO – Dailytrust
The Nigeria Aviation Handling Company (NAHCO) PLC has decried the fluctuation in foreign exchange which has more than doubled the rate for the acquisition of ground support equipment (GSE) in just one year.
Daily Trust reports that foreign exchange rate was around N459 – N470 to a dollar in January 2023 but jumped to over N1,000 to a dollar at the beginning of the year………. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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