Good morning and welcome to the very first Bulls and Bears thread for the year. I have gotten a couple of new followers on twitter the last few days, so a brief explainer on what Bulls and Bears is.

Every Monday morning i have a thread summarizing key happenings on the NGX (Nigerian stock market) and US stocks. Occasionally a sprinkle of Europe.

The thread is usually up by 10am on twitter and the most recent one is pinned. It goes up on my substack by 10am and here by 11am. Do check both out. The website version tends to have a bit more detail as i can settle in and add colour. 

Should you have any questions, please feel free to share here. You can also tweet @greentickertale or send an email to info@greentickertales.com

Starting with the NGX

It was a week full of 40s. I cant remember when last i saw such a strong week. 7 stocks gained over 40%. 

Prestige Assurance led last week’s gainers. The stock opened at N1 and closed at N1.46, up 46 kobo or 46%.

PZ Cussons Nigeria led the losers down 13.79% to close at N25.

Flour Mills of Nigeria shares were on Monday, 30 December 2024, delisted from the Daily Official List of NGX

20,706,894,542 Nigerian Breweries shares were on Monday, 30 December 2024, listed on the Daily Official List of Nigerian Exchange Limited (NGX).

The additional shares listed on NGX arose from Nigerian Breweries Rights Issue of 22,607,491,232 ordinary shares of 50 Kobo each at N26.50 per share. 

Following the listing, the total issued, and fully paid-up shares of Nigerian Breweries has now increased from 10,276,132,378 to 30,983,026,920 shares.

10,048,237,955 Jaiz Bank shares were on Monday, 30 December 2024, listed on the Daily Official List of Nigerian Exchange Limited (NGX). 

The additional shares arose from Jaiz’s Private Placement of 10,048,237,955 ordinary shares of 50 Kobo each at N1.00 per share. 

Following the listing the total issued and fully paid up shares of Jaiz Bank has now increased from 34,541,172,377 to 44,589,410,332  shares. 

You had a chunk of insider dealing notifications from VFD Group and United Capital.

Board and management changes

Thierry Georger  a non executive director on Aradel’s board resigned effective 31 December 2024. Kerin Jayne Gunter his replacement was appointed into the board effective 2 January 2025. Her appointment is subject to ratification at the annual general meeting of the Company. Gunter represents Petrolin Ocean Limited. 

Nascon Allied Industries Plc  announced the retirement of its chairperson ’Yemisi Ayeni and Professor Chris Ogbechie an independent non executive director, from its board of directors. This is with effect from 15th December 2024 following the completion of their tenures as independent directors. 

Olakunle Alake has been appointed as interim chairman. Alake is the Vice President of Dangote Industries Limited (DIL). He was appointed to the Board of DIL in 2001

Adedayo Samuel the company secretary retired with effect from 31st December 2024. Oluseun Oluwole has been appointed as the acting company secretary.

What’s happening this week? 

We should get more colour on other banks that raised capital. 

Moving on to the US 

Last week was a red week 

The S&P 500 slipped 0.5%.

The Dow  fell 0.6%. 

The Nasdaq Composite declined by 0.5%.

What’s happening this week?

Nvidia is in the spotlight as its CEO Jensen will be giving a speech at this year’s Consumer Electronics Show taking place this week in Las Vegas.

Nvidia is a big cap stock in the US. So whatever the CEO does or says is news. 

Earnings season kicks off in the US as Delta Airlines will drop its full year 2024 numbers on Friday before trading opens. In its 9M 2024 earnings release, management had hinted at expecting a record Q4 2024.

Have a great week ahead. END.