Good morning and welcome to this week’s Bulls and Bears. This is a weekly thread on the NGX and US equity space.
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The All Share Index gained 1.12% last week. The index measures the average performance of stocks on the exchange.
E Tranzact was the best performing stock appreciating by 45.15%. The stock opened at N10.30 and closed at N14.95, up N4.65.
Union Dicon led the losers. The stock declined 18.33%. It opened at N12 and closed at N9.80, down N2.20.
Sovereign Trust Insurance was marked down by N0.02 and ex dividend price was N2.92. A markdown is when a stock’s price is adjusted downwards for a dividend or bonus.
Having filed its Audited Financial Statements for the year ended 31 December 2024 (2024 AFS) and outstanding Unaudited Financial Statements for 2025,the suspension placed on trading on the shares of Regency Alliance Insurance Plc was lifted on Tuesday, 9 September 2025.
C and I Leasing and BUA Foods both held their AGMs last week.
What’s happening this week?
The wait for the UGAZ numbers continues, UGAZ being UBA, GTCO, Access Corporation and Zenith.
University Press and Redstar Express will be holding its Annual General Meeting (AGM) this Thursday
Redstar Express AGM will be virtual, at https://redstarplc.com/rse-32nd-agm
while UPL AGM takes place at Kakanfo Inn, Ibadan
UBA’s ongoing rights Issue will close on Friday, September 19, 2025
Switching lanes to the US
Last week the S&P 500 index gained +1.6%,
the Dow (DJI) gained +1.0%.
the Nasdaq composite advanced +2.0%.
Oracle shares popped last week following the release of its Q2 results.
remaining performance obligations quadrupled to $455 billion. Remaining performance obligations (RPO), is the value of committed revenue from signed contracts that has not been recognized as revenue yet.
Adobe rported Q3 results that topped analysts’ estimates.
Earnings per share: $5.31 adjusted vs. $5.18 expected
Revenue: $5.99 billion vs. $5.91 billion expected
What’s happening this week?
The Fed (US Central Bank) will have its monetary policy committee meeting. Expectations are interest rates will be cut. If that happens, there should be a rally in the market.
Its another fairly quiet week in terms of earnings.
General Mills drops earnings on Wednesday before market open.
On Thursday, Factset drops earnings before market open, while Fedex and Lennar drop earnings same day after market close.
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