- NGX Swells by N481bn on Insurance, Consumer Goods Stocks Rally
- CBN Auctioned N600bn in OMO Bills, Raises N3.5trn at 20%
- NCC, REA Sign MoU to Drive Digital Infrastructure Expansion Through Renewable Energy
- S&P Global to Acquire Majority Stake in Agusto & Co
- XRP Tanks on Red Sentiment over U.S. Clarity Act Pause
- United Capital Delivers Robust H1 2026 Earnings, Declares 30 Kobo Interim Dividend
- Oil Prices Slide Below $85 as Supply Risk Eases
- Global Markets Swerve Ahead of Fed Rates Decision, BoJ Policy Weighs
Analysis
Transnational Corporation Plc’s earnings per share (EPS) shrank in the first half of 2026 due to a 17% year-on-year decline in profitability to N54.4 billion, its unaudited financial statement revealed.
MTN Nigeria Plc lost about 7% of its market value on Wednesday as investors trimmed their holdings in the telecommunication company’s shares.
First Holdco Plc dropped by more than 16.78% in three days due to aggressive selloffs by the company’s shareholders in the stock market. The financial services company’s negative performance aligned with broader sentiment in the Nigerian Exchange.
Analysts at CardinalStone Securities Limited have jerked up their target price for Transnational Corporation to N69.71 per share, citing the TransAfam turnaround as the reason for their buy recommendation.
Wema Bank Plc’s market value declined by more than 9% due to heavy sell-offs on the local bourse on Tuesday. Its sharp price depreciation aligned with a broader downturn in the stock market.
Global equities opened on a mixed note after renewed tensions between the US and Iran weighed on sentiment, while investors reacted to a sharp surge in oil prices.
The Supreme Court on Monday dismissed an appeal seeking the dissolution of the merger between Providus Bank Limited and Unity Bank Plc.