NGX on the Ticker

Good morning.? How was your weekend??

Welcome to this week’s edition of 4 Customs Street, our weekly newsletter on the stock market.?

The newsletter is divided into two:?

• Green White Green—focused on the Nigerian stock market.?
• Star-Spangled Banner—focused on the US stock market.?

This week’s newsletter is titled "NGX on the Ticker" in view of the NGX Group's (parent company of the stock exchange) listing on the exchange last week.

The Ticker is a electronic dashboard showing information about stocks. You can find it on the trading floor or outside the Nigerian Exchange building.?

Green White Green Last Week?

Last week was a positive one on the stock market? How do we know this? The All-Share Index gained 1.4%. The index measures the average performance of stocks on the exchange.?

The biggest headline last week was that the NGX Group (parent company of the stock exchange) was listed on the exchange.?

1,964,115,918 ordinary shares of 50 kobo each were listed at ?16.15 per share.

Green White Green This Week?

Learn Africa Plc will be holding its Annual General Meeting (AGM) on October 21, 2021. Shareholders will be looking forward to this as a dividend of 15 kobo per share will be approved at the meeting.?

Trading will take place on just four days this week as Tuesday has been declared a public holiday by the federal government to mark this year’s Eid-ul-Maulud,

Star-Spangled Banner Last Week?

It was a busy week in terms of earnings, mostly from the financial services space.?

JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Morgan Stanley, to mention a few, dropped numbers. They crushed analysts' expectations.?

We will be doing a short summary of each result on our Medium page. Please keep an eye on that.?

The NASDAQ composite index was the best performing of the three major indices. It gained 2.18%. The S&P 500 gained 1.82%. The Dow gained 1.58%.

Star-Spangled Banner This Week?

It is a packed week in terms of earnings.

On Tuesday, Johnson and Johnson, Procter & Gamble, United Airlines and Netflix will drop their earnings. As Netflix drops its earnings, we will be looking out for news around the hit series—Squid Game.

Ulta Beauty will hold an analyst day. From the crypto scene, we expect a Bitcoin futures ETF to be listed.?

On Wednesday, Tesla, Abbott Labs, IBM and Verizon will drop their earnings.?

On Thursday, Southwest, an American airline, will drop its earnings. Intel, Chipotle and Snap Inc (parent company of the popular Snapchat) will also drop earnings.?

On Friday, Honeywell, American Express and Schlumberger will drop their earnings.?

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Have a great trading week?