Stanbic IBTC offers 211.7m shares option for interim cash dividend
Adesola Afolabi
September 10, 2018
The board of directors of Stanbic IBTC Holdings Plc. has announced that the holding company could issue up to 211.7 million ordinary shares of 50 kobo each as scrip dividend shares if shareholders opt to receive their first-half interim dividend in shares. Stanbic IBTC Holdings had mid last month announced an interim dividend of N10.11 […]
Analysts anticipate squeeze in liquidity to pressure treasury bills’ yield
Afolabi OluwaseunSeptember 10, 2018
Analysts say treasury bills rate would be pressured this week on anticipated squeeze in liquidity this week. This is just as the market closed bearish last week, thanks to strong liquidity-driven demand. “Yields are expected to be pressured, due to anticipated squeeze in liquidity position. We expect the CBN to rollover N136.31 billion worth of […]
Seplat notifies NSE of insider share sale
Adesola AfolabiSeptember 3, 2018
Seplat Petroleum Development Company PLC (Seplat) Friday notified the Nigerian Stock Exchange (NSE) of an insider share deal in a public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. According to the notice, Michael Alexander, a senior independent non-executive director of the company bought 95,238 shares of Seplat Petroleum […]
CSCS emerges biggest loser on NASD as USI declines 2.6% w-o-w
Adesola AfolabiAugust 13, 2018
The Central Securities Clearing System (CSCS) emerged the biggest loser on the NASD OTC market for the week ended 10th August 2018. The CSCS which closed 9.25 percent lower at N10.89 per share against N12 recorded a week ago and Friesland Campina Wamco that shed 5.88 percent to settle at N141.2 propelled decrease in the […]
Lagos Building Investment Company list shares on NASD OTC
Adesola AfolabiJuly 30, 2018
Shareholders of Lagos Building Investment Company Plc (LBIC) have elected to have the company fully admitted tot he NASD OTC Securities Exchange. They voted for this move when they passed a special resolution to this effect at their 13th annual general meeting, according to information made available to business a.m. by NASD. NASD said it […]
Facebook, tech shares drag S&P 500, Nasdaq lower
Businessam StaffJuly 26, 2018
US stocks opened lower on Thursday with a Facebook-led tumble in tech shares dragging the Nasdaq and the S&P 500 lower, according to a Financial Times (FT) report seen by business a.m. According to the report, the S&P 500 was 0.3 per cent lower in early trading falling to 2,839.26, while the Nasdaq Composite was […]
Prospects of Trump’s last minute U-turn on tariffs buoy markets early Thursday while analysts call for caution
Businessam StaffJuly 12, 2018
Market speculation over the unpredictable Trump administration making a last-minute U-turn before the 10 percent tariffs on another $200 billion worth of Chinese imports come into effect in August has left investors hopeful as global equity bulls fought back in early trade Thursday. Investors are specifically weighing in on the prospects of possible trade talks […]
London Stock Exchange suffers first major trading blackout in years
Businessam StaffJune 7, 2018
Trading on the London Stock Exchange failed to start Thursday morning after the opening auction was delayed in a rare disruption for one of the largest equity markets in the world. A spokesman for the LSE blamed a “technical issue” for the one-hour delay with trading returning at 9am. LSE later said that trading was […]
NSE chief commends Dangote Cement, says stock performing under Majoku, group’s MD
Businessam StaffJune 7, 2018
Oscar Onyema, the chief executive of the Nigerian Stock Exchange (NSE) has commended Dangote Cement for its adherence to best corporate governance practices. The NSE chief gave the commendation while welcoming Joe Makoju, the group managing director of Dangote Cement, and his management team to the special sounding of the closing gong on the trading […]
Oscar Onyema, NSE CEO calls for policy reforms to propel economic growth through the capital market
Businessam StaffJune 1, 2018
Oscar Onyema, CEO of The Nigerian Stock Exchange, Friday called the attention of stakeholders to look towards policy reforms as catalyst for economic growth and advancement through the capital market. Oscar Onyema made this address at the 5th NSE/LSEG dual listings conference. He said “Just yesterday, the NSE ASI witnessed a reversal of all the gains […]