11 PLC Going... Going...

Good morning and welcome to this week’s edition of 4 Customs Street, our weekly newsletter on the stock market. How was your weekend? 

Green White Green Last Week 

The NSE All-Share Index declined by 0.15% last week. The index measures the average performance of stocks on the exchange. Some stocks will do better or outperform the index. Some stocks will do worse or underperform the index. 

FTN Cocoa Processors was the best performing stock last week. It gained 16.28% to close at 50 kobo. Custodian investments led last week’s losers. It declined by 17.86% to close at ?5.75. 

2.4 billion eTranzact Plc shares were listed during the week.

Back to Red 

Unilever Nigeria released its Q1 2021 results. Q1 2021 means the first three months (January to March) of the company’s financial year.

The company made a ?491 million loss, largely due to an increase in overhead costs. 

UBA Q1 2021 numbers

UBA released its first quarter 2021 results yesterday. Profit before tax rose by 24% from ?32.7 billion in 2020 to ?40.5 billion in 2021. 

It made a profit after tax of ?38.1 billion in Q1 2021. That’s 26.7% higher than the ?30.1 billion it made in the first quarter of 2020. 

UBA is one of the FUGAZ banks. The FUGAZ banks are the 5 biggest Nigerian banks by capitalisation. They are FBN Holdings (parent company of First Bank Nigeria), UBA, Guaranty Trust Bank, Access Bank, and Zenith Bank.

Going… Going...

Trading in the shares of 11 Plc was suspended on Monday, April 12, 2021, following approval of the company’s delisting application. Delisting is when a company exits the stock exchange. 11 Plc is the company formerly known as Mobil Oil Nigeria.

Green White Green This Week 

A couple of firms will be having their Annual General Meetings (AGMs) during the week. AGMs are an opportunity for shareholders to quiz management on the plans for the year and give approval to key management decisions. 

Shareholders also look forward to AGMs because dividend payments follow shortly after they give approval.

UACN Property Development Company Plc will hold its AGM on April 19.

FCMB Group (parent company of First City Monument Bank) will hold its AGM on April 21.

Custodian Investment Plc and Nigerian Breweries will hold their AGMs on April 21.

A few companies could also release their quarterly results. 

Star-Spangled Banner Last Week 

Last week was a positive one for US stocks. The three major indices closed positively. 

The S&P 500 gained 1.37%. The Dow gained 1.18% and NASDAQ gained 1.09%. 

Cryptocurrency exchange Coinbase was listed during the week. The stock opened at $380, and eventually closed the week at $342. 

Star-Spangled Banner This Week 

Firms from the industrial and consumer goods space will be releasing their most recent quarterly earnings. 

Popular names include Coca-Cola, Netflix, Intel, Verizon, AT&T,  Procter and Gamble, Johnson and Johnson, Dow Chemical, Haliburton, and Schlumberger. 

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Have a great day.