Good morning and welcome to today’s Bulls and Bears. This is a weekly thread on the NGX and US equity space.

 If you have any questions, please feel free to tweet at me. You can also send an email to info@greentickertales.com or use the anon link.

Starting off with the NGX. 

Trading in the top three equities, namely Universal Insurance Plc, Linkage Assurance Plc and AIICO Insurance Plc,, accounted for 2.787 billion shares worth N6.622 billion in 11,067 deals, contributing 32.54% and 6.63% to the total equity turnover volume and value respectively. 

The All Share Index declined by 0.77% to close the week at 144,628.20 basis points. The index measures the average performance of stocks on the exchange. 

Mutual Benefits led last week’s gainers

Mutual Benefits Assurance stock appreciated by 31.85% opening at N2.92 and closing at N3.85, up N0.93. It was the best performing stock last week

UPDC was the worst performing stock last week. The stock declined by 17.72% opening at N7.90 and closing at N6.50, down N1.40.

Markdowns

Africa Prudential, Ikeja Hotel, Okomu Oil Palm, Transcorp Power, Unilever Nigeria, United Capital, Transcorp and Seplat were marked down last week.

Africa Prudential was marked down by N0.10 and ex dividend price was N15.65

Ikeja Hotel was marked down by N0.03 and ex dividend price was N20.57 

Okomu Oil Palm was marked down by N30 and ex dividend price was N1020.

Transcorp Power was marked down by N1.50 and ex dividend price was N286.50.

Unilever Nigeria was marked down by N0.50 and ex dividend price was N79.20.

United Capital was marked down by N0.30 and ex dividend price was N19.30.

Transcorp was marked down by N0.40 and ex dividend price was N51.60.

Seplat was marked down by N70.71 and ex-dividend price was N5379.29.

A mark down is when a stock’s share price is adjusted downwards for a dividend. 

Access Corporation parent company of Access Bank notified the NGX of a possible delay in the release of its H1 2025 audited financial statements. 

The firm attributed the delay to the  complexity of the post-completion audit activities of the newly acquired sub-subsidiaries within the banking group. It has obtained the approval of the NGX for an extension of time to file the results on or before September 29, 2025, subject to the Central Bank of Nigeria’s approval of the Results.

ETI the parent company of the Ecobank Group, confirms Alain Nkontchou’s private investment vehicle Bosquet Investments Ltd had acquired a 21.22% stake in ETI which was held by Nedbank Group Ltd. The transaction remains subject to regulatory approvals.

Coronation Insurance Plc held its 67th AGM virtually at 10.00a.m on Wednesday August 13, 2025.

Board and management changes 

FirstHoldco’s board of directors has accepted the Notice of Retirement of the Executive Director, Chief Financial Officer, Mr. Samson Oyewale Ariyibi. The retirement comes ahead of completion of his existing contract, effective August 15, 2025

What’s happening this week?

The wait for the Orange and Ajose Adeogun banks H1 2025 results continues. Orange for GTCO and Ajose Adeogun for Zenith Bank.

Presco will be holding its AGM this Tuesday 

As part of the agenda, one of the resolutions is for shareholders  to approve the prroposed Acquisition of Saro oil Palm (SOP) and ratify the acquisition of GOPDC Ghana Oil Palm Development Company. 

Presco has purchased 100% of the 70,580,000 shares of GOPDC which translates to a price of approximately USD1.77 for each GOPDC share. The Acquisition consideration was settled in phases, with an initial consideration payment of $64,961,832 and the balance of $59,964,768 to be settled with the proceeds from the Proposed Rights Issue. 

Presco has made an offer to SIAT SA to acquire 100% of the 5,000,000 shares of SOP which translates to a price of $9.34 for each SOP share. 

Presco’s  board has proposed raising up to ₦250 billion through a rights Issue to existing shareholders. The proceeds from the Rights Issue will be deployed towards the refinancing of existing debt obligations, settlement of the outstanding consideration for the 100% acquisition of GOPDC, settlement of the consideration for the Proposed Acquisition of SOP and creation of a financial buffer to support business expansion

Earnings 

Thomas Wyatt filed its unaudited FY 2024 results. The firm made N80.4 million in revenue and a N4.3 million loss.

Standard Alliance (now known as Fortis Global) filed its Q1 2021 results.

Switching lanes to the US 

Last week 

The S&P gained +0.9%

The tech-heavy Nasdaq Composite gained +0.8%. 

The Dow rose +1.7%. 

13 F filings were dropped last week, and they show Berkshire Hathaway and a couple of players bought shares in United Health. 

Nu Holdings dropped its H1 2025 earnings and they came in better than analyst expectations. I should have a pod episode on that out sometime during the week. 

Branching into crypto. Bitcoin hit a new all time high and Ethereum returned to levels last seen in 2021.

What’s happening this week in terms of earnings? 

Cybersecurity firm Palo Alto Networks will drop earnings after US market close today. 

Home Depot will drop earnings on Tuesday before market open. Same for Medtronic and Opera.

On Wednesday before market open, Target, Estee Lauder, and TJX will drop earnings. 

On Thursday, Walmart will drop earnings before market open will Zoom and Ross stores will drop theirs after market close.