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    Tuesday, August 18

    ETI, GUINNESS, MTNN, NB, UBA, Others Drive Midday Gain

    Olu AnisereBy Updated: News No Comments1 Min Read
    ETI, GUINNESS, MTNN, NB, UBA, Others Drive Midday Gain

    ETI, GUINNESS, MTNN, NB, UBA, Others Drive Midday Gain

    A number of financial stocks are driving a midday rally on the Nigerian Stock exchange on Thursday amidst the ongoing third-quarter of the financial year 2021 earnings season.

    Investors are pumping money into stocks with upside potential as bulls hold sway on the local bourse, rebalancing portfolios over expectations of interim dividend announcements by some of Nigeria’s dividend aristocrats.

    Alpha Morgan Capital said in a midday release that the equity market is currently trading on a bullish note following expansions in Zenith Bank share price, Mansard, United Bank for Africa, MTN Nigeria, Ecobank Transnational.

    Driving the rally include investors bargain hunting in Lafarge WAPCO share, Nigerian Breweries, Transcorp and Guinness Nigeria Plc.

    Trading statistic shows that ZENITHBANK (0.20), MANSARD (0.40), UBA (0.60%), MTNN (0.92), ETI (1.24%), WAPCO (1.59%), NB (1.76%), TRANSCORP (4.90), and GUINNESS (10.00%).

    Overall, the Nigerian Exchange All Share Index is higher by 0.19%. #ETI, GUINNESS, MTNN, NB, UBA, Others Drive Midday Gain. #FBNH, FIDELITY, STERLING, and UBA Drive Midday Loss

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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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