BULLS look to resurrect rally next week...   


April 2 (Lagos) - There could be a resurrection of the bulls at the Nigerian Stock Exchange next week as positive news from three companies came out as the Easter break shortened week was coming to a close. Next week will see a early return to the trading platforms as the below news gets digested. 


1) Mastercard will invest $100 million in Airtel Africa Plc ( AIRTELAFRI ) valuing the Airtel money business at $2.65 billion. 


2) Access Bank Plc ( ACCESS ) has bought a majority stake in South Africa's GROBANK reported to be in region of $ 60 million. CEO of ACCESS Mr. Wigwe said “We have a full retail banking license in South Africa,” Wigwe said. “We will pursue a wholesale banking franchise. We will pursue trade finance,". 



3) Presco Plc ( PRESCO ) released its 2020 financial results and proposed a dividend of N 2.00 per unit as Profit for the year grew 37% to N 5.2 billion. 


These three companies are likely to weigh on investors minds when trading resumes on Tuesday after the Easter break. Can the Bulls resurrect the rally next week or will the inevitable inflation and monetary data spoil their efforts. 




reporting for easykobo.com on Friday, April 2 2021 from Lagos, Nigeria
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