Tantalizers continues its movement into media
GTCO will make history this week with its listing on the London Stock Exchange
Good morning and welcome to this week’s bulls and bears. Bulls and bears is a weekly thread i do reviewing activities in the Nigerian and US equity space.
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Starting off with the NGX.
The All Share Index gained 0.83%. The index measures the average performance of stocks on the exchange.
Meyer Paints was the best performing stock last week. It appreciated by 60.11% opening at N9.15 and closed at N14.65, up N5.50.
PZ Cussons was the worst performing stock last week. It declined by 14.96% opening at N38.10 and closed at N32.40, down N5.70.
McNichols, Sterling Financial, BUA Cement and Livingtrust Mortgage were marked down for dividends
McNichols ex dividend price was N2.13
Sterling Financial ex dividend price was N5.47
BUA Cement ex dividend price was N93.35
Livingtrust Mortgage ex dividend price was N7.32
Trading in Royal Exchange Plc, Access Holdings Plc and Japaul Gold & Ventures Plc accounted for 1.688 billion shares worth N12.816 billion in 8,036 deals, contributing 30.88% and 11.86% to the total equity turnover volume and value respectively
Biggest headline on the equities space was GTCO’s announcement of its London listing. The company will be making history as the first financial firm to be dual listed in both exchanges. It would also be joining Airtel Africa and Seplat in that niche.
The company also cancelled its GDRs (global depository receipts) and raised $105 million in equity. 2.2 billion shares were issued at a reference price of $0.0459 (N70). It would be interesting to see where the stock ends up trading in London by the end of the week vis a vis Nigeria.
The Nigerian Communications Commission (NCC) has approved a three-year national roaming agreement between MTN Nigeria and Emerging Markets Telecommunications Services Limited (9Mobile).
Tantalizers Plc has signed signing of a Memorandum of Understanding (MOU) dated 25th June, 2025 on its partnership with Degue Broadcasting Network (DBN) Television, one of Nigeria’s oldest privately-owned broadcast television networks, which has been inactive.
Both parties have agreed to proceed with due diligence and regulatory approvals in line with applicable laws. The definitive acquisition agreement is expected to be finalized in the coming months.
Jaiz Bank, C and I Leasing, Redstar Express, Royal Exchange, University Press and Learn Africa released earnings.
Champion Breweries and Fidson may have equity raises in the near future going by the agenda on their coming EGM and AGM respectively.
Champion Breweries Plc via a virtual EGM holding virtually on on Thursday 24th July 2025 at 12.00 noon will be seeking approval to issue additional shares of up to 5,000,000,000 shares in the Nigerian and/or international capital markets.
Fidson will be seeking shareholders approval at its AGM holding on the 31st of July, 2025 to raise additional capital of up to N30,000,000,000.
Notore Chemical Industries Plc shares were on Friday, 04 July 2025, delisted from the Daily Official List of NGX
So what’s happening this week?
All eyes on GTCO with the planned London listing.
We could have a few overdue results released during the week
Switching lanes to the US
It was a swell week for the indexes.
The S&P 500 rose 1.7% to close at 6279 basis points.
The Dow gained 2.3%
The NASDAQ gained 1.6%
What’s happening this week?
Its a pretty quiet week in terms of earnings
Delta Airlines and Levi Strauss will drop their earnings on Thursday.
Biggest focal points in my view are the Trump tariffs. Deadlines have been shifted to August but expect more drama before then.
I’m also keeping an eye on the British finance minister Rachel Reeves She's facing the heat. I don't think it will ease up
Nvidia remains on my watchlist for the week, as it is close to making history if/when it hits the $4 trillion mark.
A broader version will go up on greentickertales.com by 10am WAT
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Have a good trading week ahead.