ZENITH BANK, 2 OTHERS EMERGE BEST PERFORMING STOCKS IN JULY
source : http://www.eyesoflagos.com/2017/08/zenith-bank-2-others-emerge-best.html

Zenith Bank Plc, Ecobank Transactional Incorporated Plc, and Guaranty Trust Bank Plc (GTBank) lead 13 others to emerge as best performing stocks in the banking sector in July.
As at the close of trading on Monday, July 31, the stock price of ETI added 18.1 per cent or N2.25 per share to close at N16.50 from opening figure of N13.97. Similarly, prices of Zenith Bank and GTBank shares appreciated by 17.8 per cent and 12.1 per cent in July respectively.
Price appreciation in banks leveraged Nigerian Stock Exchange Banking Index growth of about per cent from 397 basis points to 445.33 basis points in July, an increase of 12.2 per cent or 48.33 basis points. It implies that the NSE banking Index has appreciated by 63.3 per cent and 171.01 basis points in seven months from 274.32 basis points it opened for trading in 2017.
Data collected by Eyes Of Lagos revealed that Zenith Bank’s stock opened the month under review at N20.89 and closed at N24.61 while GTBank, the third highest price gainer in the banking sector closed July at N39.05 from N34.82 it opened for trading. For the month under review, GTBank recorded the highest market capitalisation of about N1.15 trillion, behind Dangote Cement Plc that has N3.8 trillion in market last month.
Zenith Bank on the other hand, has a market capitalisation of N772.8 billion while ETI has N302.8 billion in market capitalisation in July 2017. Ironically, investors on the Nigerian Stock Exchange (NSE) continued to buy stock prices of these financial institutions over speculation of proposed interim dividend, Zenith Bank and GTBank specifically.
The above banks are yet to announce their earnings to the Exchange, Eyes Of Lagos can exclusively report. A stockbroker who spoke with us that does want his name in print said, “Zenith Bank and GTBank have a model that is working and delivering returns shareholders.
“If you look at their books you will realize that they have delivered value over the years, and with them, it’s a steady growth, that’s what the investors are looking at,” he noted.
Other financial institution with stock price appreciation includes Skye bank Plc, United Bank For Africa Plc, Access Bank Plc and Stanbic IBTC Holdings Plc.
The stock price of Skye Bank added 13 per cent or N0.08 to close at N0.68 while United Bank for Africa rose by 10.7 per cent or N0.94 to close in July at N9.70 from N8.76 it opened. Access Bank stock’s price added 8.1per cent or N0.75 to close at N10.05 per share. Furthermore, the stock price of Stanbic IBTC Holdings increased by 8.8 per cent or N2.90 to close July at N35.90.
Despite impressive profitability in the half year ended June 2017, the stock price of Diamond Bank inched up by four per cent or N0.05 to close at N1.29. The interim report and accounts of Diamond Bank showed significant growth in all key financial parameters as profit before tax surged year-on-year by 2.8 per cent to N10.8 billion, this followed the leapfrogging of gross income over total expenses during the period under review.
Commenting on the bank’s stock performance, chief executive officer, Diamond Bank, Uzoma Dozie stated that despite the economic headwind, the Bank would remain resilient and sustain the positive growth throughout the two remaining business quarters.
Further investigations by Eyes Of Lagos revealed that Unity Bank Plc and Union Bank of Nigeria recorded the highest decline in July, followed by Fidelity Bank Plc. The stock of Unity Bank fell by 8.9 per cent or N0.06 to close at N0.61 from N0.67 in June. The stock price of Union Bank of Nigeria shed 14.4 per cent to N5.24 from N6.12 it opened in July while Fidelity Bank dropped by 4.6 per cent to close July at N1.25.

Wow, seems stocks are gradually picking up. The crash in the market about 8 - 9 years ago is still fresh in my memory!

This Nairaland bug has infected me - FTC!!!

I know Gtb go dey there.

sexy son of a biitch that charge 390 for one dollar.

And GTBank recorded the highest
market capitalisation of about N1.15
trillion

folashade96:
What is wrong with Nl today? or is it my browser?

today keee

things don dey wrong with am tey tey

Nice

I know Gtbank will make the list.

Gtb is always at d top

Access bank keeps going up steadily. Things I thought I'd never see happen

Nigerian banks are reapers...

GT bank always on top

Zenith bank is nonsense.

heeheeeheee...laugh is catching me ooo
Shey that stupid ecobank wey their generator dey always off na him dey number 2?...
The day their atm switched off with my card in it was the last day i went there last

Moral lesson: you can make anything out of life regardless of your position. Z for zenith, last letter of the alphabet. I still rep gtbank oo

wolextayo:
Moral lesson: you can make anything out of life regardless of your position. Z for zenith, last letter of the alphabet. I still rep gtbank oo

But zenith means top na

yes but you would have known that if you are a regular at the easykobo stock market website.


see at easykobo we guys only discuss money making in stocks. not like here that the news breaks weeks after the action in over.


be careful buying now guys because the big boys will be looking to offload soon because of the gains they have already recorded.

ECO BANK ...I CANT believe

Good

Okey

syncACE:

But zenith means top na

Ain't talking the meaning bro. Just the first alphabet. First bank should be there if I should go with you lol. Good pm

yinka2011:
yes but you would have known that if you are a regular at the easykobo stock market website.


see at easykobo we guys only discuss money making in stocks. not like here that the news breaks weeks after the action in over.


be careful buying now guys because the big boys will be looking to offload soon because of the gains they have already recorded.

Good morning, please can you teaching me how to read stock n stock investment.
Thanks