Stock Market Review

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 

Last week was a down one as the NSE All-Share Index dropped by 1.60%. The index measures the average performance of stocks on the exchange. Some stocks will do better or outperform the index, while others will do worse or underperform. 

Royal Exchange was the best performing stock last week. It gained 22.64% opening at 53 kobo and closing at 65 kobo. Linkage Assurance led the losers for the week. It fell by 18.82% to close at 69 kobo. 

Green White Green This Week 

This week may be a rather uneventful one as most firms have released their quarterly earnings. 

Seplat Petroleum has fixed May 12, 2021 as the qualification date for its interim dividend. That means shareholders that hold the company’s shares on or before that date will get paid the dividend of $0.025 per share. Payment date is June 6, 2021.

Star-Spangled Banner Last Week 

The NASDAQ was the odd one out of the three indices, as it dipped 1.51%. The S&P 500 gained 1.23%. The Dow Jones gained 2.67%. 

Star-Spangled Banner This Week 

Airbnb, Disney, DoorDash, Electronic Arts, Wendy’s, and Canada Goose will be releasing their earnings during the week. 

On the macro front, inflation numbers for the month of April will be released during the week. While there has been some concern about rising inflation, the poor job numbers mean the Fed (the US central bank) will continue to keep the interest rate low. 

Movement in the interest rate is a big deal because of the huge credit economy. Many people either have mortgages, car loans and so on. 

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