UBA and Access Bank FY 2018 results fail to stir market

Results released by UBA and Access Bank failed to stir the stock market. The Nigerian Stock Exchange (NSE) closed today’s trading on a negative note. The All Share Index ended today’s trading session at 31, 142.72 basis points, down 0.22%. Year to date, the market is in the red down 0.92% 

Top Gainers and Losers 

Royal Exchange Plc was the best performing stock today. The stock gained 9.38% to close at N0.35. Jaiz Bank gained 5.88% to close at N0.54. Neimeth International Pharmaceuticals rounds up the top three gainers for the day. The stock gained 3.08% to close at N0.67. 

Ikeja Hotel was the worst performing stock today. The stock fell 10% to close at N2.07. Sterling Bank shed 7.60% to close at N2.31. United Capital rounds up the top three losers for the day. The stock declined by 6.67% to close at N2.80. 

Top Trades by Volume 

FBN Holdings was the worst performing stock today. 39.9 million shares valued at N327 million were traded in 238 deals. Zenith Bank was next with 39.6 million shares valued at N877 million traded in 311 deals. 

UBA rounds up the top three most traded stocks today. 24 million shares valued at N181 million were traded in 260 deals. Investors may have taken a position in the stock, following the release of the bank’s FY 2018 results. 

Corporate Actions

UBA and Access Bank today released their full-year 2018 results. Access Bank had a profit after tax of N94.9 billion. UBA made a profit after tax of N78.6 billion.