Good morning and welcome to this week’s Bulls and Bears. This is a weekly thread on the Nigerian stocks and US equity space.
If you have any questions, feel free to tweet at me. You can also send an email to info@greentickertales.com or use the anon link
Nigerian stocks last week
It was a blowout week for Nigerian stocks.
5.390 billion shares worth N107.811 billion in 134,390 deals were traded.
Trading in Access Holdings Plc, Japaul Gold & Ventures Plc and AIICO Insurance Plc (measured by volume), accounted for 1.396 billion shares worth N15.835 billion in 12,828 deals,
The NGX All-Share Index and Market Capitalization appreciated by 4.26%. The index measures the average performance of stocks on the exchange.
FTN Cocoa led last week’s gainers. The stock appreciated by 60.6% opening at N4.67 and closing at N7.50
Legend Internet led the losers. The stock fell 12.5% opening at N8 and closing at N7, down N1.
Ikeja Hotels, Presco, E tranzact and Cornerstone were marked down during the week
A markdown is when a stock’s price is adjusted for a dividend or bonus.
Ex dividend price for Ikeja Hotels was N17.8
For Presco was N1233
Ex dividend price for Cornerstone Insurance was N4.23
Ex dividend price for E-Tranzact was N9.925
2,288,250,000 GTCO shares were on Thursday, 10 July 2025, listed on the Daily Official List of Nigerian Exchange Limited (NGX). The additional shares arose from the company’s public Offer to foreign investors.
Following the listing, the total issued, and fully paid-up shares of Guaranty Trust Holding Company Plc has now increased from 34,136,979,514 to 36,425,229,514 shares.
Still on GTCO. Last week, the company made history as its shares were listed on the London Stock Exchange, becoming the first financial services firm in the country to do so.
ECOBANK TRANSNATIONAL INCORPORATED will raise up to US$250 million in Additional Tier 1 (“AT1”) capital qualifying instruments via a private placement of contingent convertible notes. Renaissance Capital Africa has been appointed as the transaction adviser to ETI.
Earnings filed during the week
Geregu Power H1 2025
H1 2025 revenue had a marginal uptick, while profit was essentially flat. Revenue went up by 8.76% from N80.6 billion in 2024 to N87.6 billion in 2025. Profit after tax rose from N20.013 billion in 2024 to N20.018 billion in 2025.
You can read more about the results here
Livingtrust Mortgage Bank H1 2025 results
There was decent year on year increase in both revenue and profit.
Revenue rose by72.3% from N1.7 billion in 2024 to N3 billion in 2025.
Profit after tax rose at a much slower pace from N423 million in 2024 to N551 million in 2025, up 30.1% year on year.
You can read more about the results here.
Mutual Benefits Assurance released its audited FY 2024 results. Profit after tax rose by 92% from N5.8 billion in 2023 to N11.3 billion in 2024.
The company has proposed a 2 kobo dividend.
STACO filed its Q1 2019 numbers. Those are a bit stale, so i wont be going into details.
Other news
PRESCO has moved its AGM and proposed dividends payment dates from 6th August 2025 to 19th August 2025. It will be paying a final dividend of N42.
Ikeja Hotels in a notice to the exchange filed the results and decisions of the SEC following a forensic audit conducted
Following highly publicized shareholder disputes involving the two Ibru families (Mr Goodie Ibru and the Estate of late Alex Ibru), the Securities and Exchange Commission intervened leading to the execution of a Settlement Agreement in 2017.
You can read the entire document here.
Nigerian stocks this week?
We could see a few more overdue results filed, and a couple of Q2 2025 results.
Moving over to the US
Tariffs are back on the frontburner
President Donald Trump issued letters to several countries outlining tariff rates against them, includingJapan, South Korea, Canada, Brazil, and the Philippines.
He also targeted copper imports with a 50% tariff and said pharmaceuticals could be charged a levy of as much as 200%.
A few days ago, he sent letters to the EU and Mexico announcing 30% tariffs from August 1st (separate from sectoral tariffs)
Nvidia made history as it became the first company in the world to hit a $4 trillion market cap.
Delta Airlines and Levi’s dropped Q2 numbers which beat analyst expectations. Delta restored its outlook for the year while Levi’s raised its outlook.
This week is a packed one in terms of earnings
On Tuesday, JPMorgan , Wells Fargo, BlackRock , Citigroup will drop theirs.
On Wednesday: Johnson & Johnson, Bank of America, Morgan Stanley, Goldman Sachs will file theirs.
On Thursday, Taiwan Semiconductor, Netflix and PepsiCo
On Friday, American Express, 3M, and Charles Schwab will file theirs
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Have a good trading week ahead.
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