Samuel’s Big Move
Oluwatosin Olaseinde
Founder, MoneyAfrica & Ladda | Fintech | Edtech | World Economic Forum Young Global Leader | Linked In Top Voices Finance & Economy 2020 | Mandela Washington Fellowship | Financial literacy expert
Good morning and how are you doing?
Did you have a great weekend? We hope you did.
Monday newsletters are focused on the previous and current week's stock market. The first part is on Nigerian equities (Green White Green), while the latter part on US equities (Star Spangled Banner).
Green White Green last week
Trading began on a negative note last week. The Nigerian Stock Exchange (NSE) All-Share Index declined by 0.37%. The All-Share Index measures the average performance of stocks on the exchange. Some stocks did better than the index, while others did worse.
Japaul Gold and Maritime led last week’s gainers. It gained 56.4% to close at ?0.97. Deap Capital was the worst-performing stock last week; it declined by 12% to close at ?0.22.
C&I Leasing PLC announced Peace Mass Transit Limited had purchased a convertible loan of 313,326,316 units valued at ?4.75 each or its US$ equivalent from Neoma Africa Fund. A convertible loan is short term debt that can be converted into equity that is shares.
The loan, when fully converted, will result in the issuance of 987,500,000 shares to Peace Mass Transit. PMT, as it is popularly known, would end up owning 55.82% of C&I Leasing PLC. Peace Mass Transit is a popular transport firm that is owned by Samuel Onyishi.
Green White Green this week
This week is a rather quiet one in terms of meetings. Neimeth Pharmaceuticals will hold an emergency meeting this week. The meeting began last week but was adjourned. The agenda is a planned equity raise.
Star Spangled Banner last week
2021 started on a positive week for US stocks. All three major indexes closed upwards. The S&P 500 gained 1.8%. The Dow Jones Industrial Average (commonly known as the Dow) gained 1.6%. The NASDAQ composite index gained 2.53%.
Star-Spangled Banner this week
Earnings season kicks off properly this week. Earnings seasons are periods during which a large number of companies release their quarterly results. This takes place a few weeks after the end of every quarter.
October to December 2020 was a quarter. As such, mid to late January would fall into the category of earnings season. Inflation numbers for December 2020 will also be released during the week.
A new year is a great time to start to document your financial journey. If you would like to do so, you can order our Personal Finance Guide here
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Have a great week??
Managing Consultant
4 年It may be good because of the impending likelihood of the US Dollar taking a nose dive. It may not be totally advisable because one cannot say yet the type of person Biden is towards cryptocurrencies whether he would like to wage war against them and how far the effect can be on the value of crypto currencies. It can be rated 60/40 chances.
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4 年Very Resourceful
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4 年Dear Oluwatosin, Trust you are keeping well and safe. Please can you help with the process of buying Bitcoin. Is this a good time to also invest in Bitcoin for a short term?
Finance Officer at RRCC
4 年Thank you dear you are welcome
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4 年Good morning, Tosin. I would like to trade and invest in foreign stocks that yield exponentially. I would like to be guided, thank you.