Good Morning and welcome to this week’s bulls and bears. Bulls and bears is a weekly thread i do on happenings in the US and Nigerian equity space.

NGX last week

The All Share Index gained 0.72%. It measures the average performance of stocks on the exchange.

Golden Guinea led last week’s gainers appreciating by 45.95% to close at N5.40. 

:Learn Africa led the losers declining by 11.75% to close at N2.93

Board and management  changes 

Unilever Nigeria has a new MD

Unilever Nigeria’s board at a meeting held on 29 November, 2024 considered and approved the resignation of Tim Kleinebenne as Managing Director of the Company with effect from 31st December 2024.

On the recommendation of the Governance, Remuneration and Risk Committee  the board considered and approved the appointment of Oluwatobi Adeniyi as Managing Director with effect from 1st January 2025. 

Adeniyi began his career as a Unilever Future Leader in 2009. His expertise spans Logistics, Planning, Strategic Supply Chain, Procurement, and Sales, with assignments that have taken him across diverse markets including, Singapore, the Philippines, and Indonesia.

Umma Yusuf Aboki was appointed a non executive director with effect from 1st January 2025.

She was the Executive Secretary/CEO at the Kaduna Investment Promotion Agency (KADIPA), and was Commissioner for Planning and Budgeting in Kaduna State (April 2022 – May 2023),

Julius Berger has a new chairman

Julius Berger’s chairman,  Mutiu Sunmonu, will exit the company’s board with effect from March 31, 2025. He  was appointed a Non-Executive Director on January 1, 2015. Sunmonu became chairman of the board of directors on April 1, 2016

At the board meeting held on Thursday December 5, 2024, Engr. Goni Musa Sheikh was elected chairman. His term is for 3 years with effect from April 1, 2025. Goni was appointed to the company’s board on July 1, 2019.

Atinuke Kolade has been appointed Group Company Secretary of Transcorp and its subsidiaries, effective December 3, 2024. She takes over from Stanley Chikwendu who has been moved to a new role in the Group.

FCMB 9M 2024 results and earnings call

FCMB Group had an earnings call last Friday following the release of its 9M 2024 results. FCMB Group is the parent company of First City Monument Bank.

9M 2024 results

Gross earnings went up by 67.2% from N351 billion in 2023 to N587 billion in 2024. Profit after tax increased by 67.6% from N49.1 billion in 2023 to N82.3 billion in 2024.

International Breweries held an EGM (Extra-Ordinary General Meeting). The agenda was to obtain shareholders approval to raise additional capital.

What’s happening this week on the NGX? 

Expect to see more ups and downs in the price of penny stocks, as speculators move in and out. 

Lafarge Africa could keep climbing or pull back a week. Stock has been on a tear following the announcement of Huaxin taking up Holcim’s stake. 

US equities last week

The Dow fell by 0.6%

The NASADAQ Composite and S&P 500 closed in the green, up 3.3% and 1% respectively.

Brian Thompson CEO of UnitedHealth’s insurance business was shot and killed outside a Manhattan hotel where he was scheduled to speak at the company’s annual investor conference.

Bitcoin crossed the $100,000 level spurred by comments by Fed Chair Jerome Powell calling it competition to Gold and not the US dollar. 

What’s happening this week in the US? 

Inflation numbers for the month of November, will be out on Wednesday. They play a huge role in whether the Fed will hold or cut interest rates next week. 

Earnings season is winding down, but a few big names dropping theirs. They include Adobe, Oracle and Costco.

The ServiceNow IPO should take place sometime within the week. An IPO (initial public offer) is when a company sells shares to the public for the very first time.

Goldman Sachs U.S. Financial Services Conference starts Tuesday. On Wednesday Barclays 22nd Annual Global Technology Conference kicks off.

Here is my watchlist for the week.

Do you have any questions, please feel free to tweet at me. You can also send an email to info@greentickertales.com