Economy
Asian Equities Close Mixed as OECD Trims Global Economic Outlook
By Investors Hub
Asian stocks turned in a mixed performance on Friday after the Organization for Economic Co-operation and Development (OECD) trimmed its outlook for the global economy, saying the world was headed for its weakest economic growth since the 2007-2008 financial crisis amid trade conflicts, weak business investment and political uncertainty.
On the trade front, China said both sides still maintain communication channels, helping ease worries over the possible delay of a preliminary trade deal between the United States and China.
A report from the Wall Street Journal said China’s chief trade negotiator has invited his American counterparts to Beijing for a new round of face-to-face talks.
Chinese stocks fell, with the benchmark Shanghai Composite Index closing down 18.35 points, or 0.6 percent, at 2,885.29 as China upwardly revised its nominal gross domestic product estimate for 2018 by 2.1 percent, reflecting more complete measures of the services sector and assets. Hong Kong’s Hang Seng Index climbed 0.5 percent to 26,595.08.
Japanese shares closed higher on bargain hunting following three straight days of losses. Risk sentiment improved a little on fresh hopes that the world’s top two economies may delay their plans to roll out new tariffs, originally slated for December 15.
The Nikkei 225 Index rose 74.30 points, or 0.3 percent, to 23,112.88, while the broader Topix inched up 0.1 percent higher to 1,691.34. Exporters finished mostly higher as the yen edged lower against the dollar.
Panasonic fell 1.5 percent after saying it would end all production of liquid crystal display panels by 2021 amid stiff competition from foreign rivals.
On the data front, Japan’s private sector continued to contract in November but moved closer to stagnation, survey data from IHS Markit showed. The Jibun Bank flash composite output index rose to 49.9 from 49.1 in October.
Separately, official data showed that overall consumer prices in Japan were up 0.2 percent year-on-year in October. That was unchanged from the September reading, although it was shy of estimates for a gain of 0.3 percent.
Australian markets rebounded from two straight days of losses, with material and energy stocks leading the surge. The benchmark S&P/ASX 200 Index advanced 36.90 points, or 0.6 percent, to 6,709.80, while the broader All Ordinaries Index ended up 38.80 points, or 0.6 percent, at 6,816.50.
Mining heavyweights BHP and Rio Tinto gained 1.3 percent and 0.8 percent, respectively after commodity prices ticked higher overnight. Smaller rival Fortescue Metals Group jumped 3.9 percent.
Energy stocks such as Woodside Petroleum, Santos, Oil Search, Beach Energy and Origin Energy climbed 1-2 percent after oil prices hit a two-month high on reports that OPEC and its allies are likely to extend output cuts until mid-2020.
Westpac Banking Corp lost 1.6 percent after Investment bank Goldman Sachs cut its target amid alleged breaches of money laundering laws and associated risks.
Mayne Pharma shares slumped 11 percent after the drug maker reported that its gross profit for the first four months of the year dropped 33 percent.
Australia’s private sector saw a renewed contraction in November following no change in October, survey results from IHS Markit showed today. The corresponding index fell to 49.5 from 50.0 in October.
Seoul stocks snapped their four-day losing streak after reports suggested that China has invited top U.S. trade negotiators for a new round of face-to-face talks in Beijing.
The benchmark Kospi rose 5.36 points, or 0.3 percent, to 2,101.96, led by technology stocks. Samsung Electronics climbed 1.2 percent and SK Hynix added 1 percent.
By Aduragbemi Omiyale
Transcorp Power Plc suffered declines in its revenue and profit in the first half of this year; details of the company’s financial statements for the period ended June 30, 2026, have revealed.
The losses were attributed to recurring transmission line vandalism, which materially constrained the organisation’s ability to evacuate available generation capacity.
Business Post reports that earnings contracted in the first six months of this year to N181.97 billion from the N205.81 billion recorded in the same period of last year, while profit before tax moderated to N54.99 billion from N58.73 billion.
However, on a year-to-date basis, total assets went up to N619.02 billion from N563.48 billion in December 2025, as shareholders’ funds grew to N189.34 billion from N183.40 billion in FY 2025, while retained earnings soared to N140.90 billion from N123.41 billion in FY 2025.
It was observed that the increase in receivables and borrowings largely drove the expansion in the balance sheet during the period.
Also, the firm’s gross margin expanded to 38.4 per cent from 34.7 per cent in H1 2025, operating margin increased to 30.6 per cent from 28.5 per cent, and PBT margin rose to 30.2 per cent from 28.5 per cent, reflecting cost optimisation efforts and disciplined financial management, positioning the company to continue delivering sustainable value for shareholders.
“Our H1 2026 performance is a reflection of the resilience of our business operations despite significant sector-wide existential challenges.
“Regrettably, recurring transmission line vandalisation materially constrained our ability to evacuate available generation capacity.
“Nonetheless, we continued to deliver strong profitability, maintain operational efficiency, and strengthen our balance sheet,” the chief executive of Transcorp Power, Mr Peter Ikenga, stated.
“We remain committed to working with relevant stakeholders to put an end to transmission line vandalisation and to further improving operational performance, power generation supply reliability, and creating sustainable value for our shareholders. We remain highly confident that we will recover lost ground in H1 2026 and finish FY 2026 stronger than FY 2025,” he added.
By Dipo Olowookere
A total of 2.819 billion stocks worth N182.499 billion exchanged hands in 226,729 deals on the floor of the Nigerian Exchange (NGX) Limited last week, in contrast to the 3.648 billion stocks valued at N220.568 billion transacted in 251,861 deals a week earlier.
From this, financial shares accounted for 2.006 billion units sold for N99.697 billion in 96,171 deals, contributing 71.17 per cent and 54.63 per cent to the total trading volume and value, respectively.
Consumer goods equities traded 178.863 million units worth N7.872 billion in 26,637 deals, and energy stocks recorded a turnover of 151.237 million units valued at N38.309 billion in 16,879 deals.
First Holdco, FCMB, and Access Holdings accounted for 939.402 million units worth N57.673 billion in 19,051 deals, contributing 33.33 per cent and 31.60 per cent to the total trading volume and value, respectively.
Business Post reports that the performance indicators were mixed in the five-day trading week, as the All-Share Index (ASI) depreciated by 0.14 per cent to 243,462.13 points, while the market capitalisation appreciated by 0.39 per cent to N157.057 trillion.
All other indices finished higher except the main board, consumer goods, energy, Lotus II, industrial goods, growth, and sovereign bond indices, which fell by 1.54 per cent, 0.15 per cent, 0.11 per cent, 0.40 per cent, 6.26 per cent, 0.09 per cent, and 0.33 per cent, respectively, while the commodity index closed flat.
Forty-four shares gained weight in the week versus 60 shares of the preceding week, 35 equities depreciated versus 28 equities in the previous week, and 67 stocks closed flat versus 58 stocks of the earlier week.
The best-performing stock was First Holdco, which gained 38.66 per cent to trade at N95.95. Thomas Wyatt expanded by 27.16 per cent to N3.09, Fidelity Bank grew by 15.00 per cent to N21.85, Learn Africa grew by 14.44 per cent to N10.30, and UBA chalked up 10.98 per cent to close at N45.50.
The worst-performing stock was BUA Cement after giving up 18.99 per cent to quote at N275.60, Red Star Express shed 18.53 per cent to end at N20.00, International Energy Insurance declined by 15.27 per cent to N4.66, C&I Leasing dropped 13.28 per cent to N5.55, and PZ Cussons crashed by 10.06 per cent to N80.95.
By Adedapo Adesanya
Central Securities Clearing System (CSCS) Plc kept the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.04 per cent on Friday, July 16.
The securities depository company added N2.50 to its share price to settle at N95.14 per unit from the preceding session’s N92.64 per unit.
However, FrieslandCampina Wamco Nigeria Plc slid during the session by N5.85 to N141.81 per share from N147.66 per share.
But when the bourse closed for the day, the market capitalisation increased by N1.08 billion to N2.593 trillion from N2.592 trillion, while the NASD Security Index (NSI) appreciated by 1.80 points to 4,320.67 points from 4,318.87 points.
During the session, the value of securities slid by 38.9 per cent to N63.5 million from N104.1 million, the volume of securities went down by 34.5 per cent to 1.2 million units from 4.8 million units, and the number of deals declined by 15.4 per cent to 33 deals from 39 deals.
Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 75.4 million units traded for N5.3 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, followed by Infracredit Plc with 2.3 billion units sold for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
