Good morning and welcome to this week’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.

Trading in the top three equities, namely Linkage Assurance Plc, Consolidated Hallmark Holdings Plc, and Universal Insurance Plc (measured by volume), accounted for 3.195 billion shares worth N6.594 billion in 3,964 deals, contributing 36.57% and 4.90% to the total equity turnover volume and value respectively.

Starting with the NGX. 

The NGX All-Share Index appreciated by 3.18% to close the week at 145,754.91 basis points. The index measures the average performance of stocks on the exchange. 

It was a record week for insurance stocks following the news of the President signing the insurance act filtering into the market.

The top 10 gainers for the week were from the insurance space.

Mutual Benefits Assurance led last week’s gainers. The stock appreciated by 60.44% opening at N1.82 and closing at N2.92, up N1.10.

Livingtrust Mortgage Bank led last week’s losers. The stock fell by 24.13% opening at N6.59 and closing at N5, down N1.59.

C and I Leasing and Transcorp Hotels were marked down last week. A markdown is when a stock’s price is adjusted downwards for a dividend or bonus.

C and I Leasing was marked down by 10 kobo and ex dividend price was N6.92

Transcorp Hotels was marked down by 10 kobo and ex dividend price was N164.60

Ecobank Transnational Incorporated (ETI) announced plans to divest its stake in Ecobank Mozambique S.A.(EMZ) to FDH Bank PLC,

Aso savings filled its H1 2025 results. The bank made N1.4 billion in total income and N20.9 million in profit after tax.

Board and management changes 

 Babatunde Irukera has been appointed Chairman of the Board of Directors of Veritas Kapital Assurance Plc. Mr. Irukera had earlier been appointed as a Non-Executive Director by the Board at its 195th meeting on Friday, May 2, 2025.

Oando Plc’s board has appointed Mrs. Folasade Ibidapo-Obe as the new Chief Compliance Officer and Company Secretary of the Company, effective August 8, 2025. Mrs. Folasade Ibidapo-Obe succeeds Ms. Ayotola Jagun, who previously served in this capacity. 

ETI and United Capital held H1 2025 earnings calls.

There were a couple of insider dealings filed last week. The most prominent by size being Abubakar Suleiman

Eyes on the GAZ banks

Insurance stocks may continue to remain in play, either upwards or downwards. 

All eyes will be on the GAZ banks, GTCO, Access and Zenith Bank as their H1 2025 results could be filed anytime from now. 

VFD Group will also be in my view following the company’s application for a proposed rights issue at N10 per share on the basis fo 2 new shares for every 3 existing shares held as at August 8, 2025. 

Moving over to the United States 

Despite the renewed tariff sabre rattling against some countries, the markets closed up

The Dow gained 1.3%

The S&P 500 gained 2.4%

Nasdaq gained 3.9%

What’s happening this week ?

Its a fairly quiet week in terms of earnings. 

Names id be watching are etoro, JD.com and Nubank 

For a daily market summary of the NGX, please follow @greentickertale on twitter and greentickerwarrior on youtube