The Nigerian stock market last week recorded marginal gain fueled by MTN Nigeria Plc and other banking stocks.
This is coming as investors continued to reposition their portfolios based on the assessment of some companies’ half year 2023, H1’23, earnings report.
Precisely, the Nigeria Exchange Limited, NGX, All- Share Index, ASI, recorded a 0.2% gain to close at 65,325.37 points from 65,198.08 points the previous week.
Another stock market gauge, NGX market capitalization, rose by N93 billion to close at N35.572 trillion from N35.479 trillion the previous week.
Consequently, the Month-to-Date, MtD, and Year-to-Date, YtD, returns were slightly higher at +1.5% and +27.5%, respectively.
Elsewhere, weak activity levels persisted on the bourse, as the trading volume and value decreased by 32.4% Week-on-Week, WoW, and 15.3% WoW, respectively.
From a sectoral viewpoint, the Banking Index went up by 1.3% and Insurance Index, 0.7% while the Consumer Goods Index down by 0.9%, Industrial Goods Index 0.4% and Oil and Gas Index 0.3%.
Reacting on the market performance and outlook, analysts at Cordros Research stated: “We expect market performance to remain mixed in the week ahead as investors rebalance their portfolios based on an assessment of corporate earnings released thus far for H1’23.
‘‘Nevertheless, we expect earnings from the Tier-1 banks in the coming week(s) to spur positive market sentiments, especially given the anticipation of interim dividends.
‘‘Overall, we reiterate the need for positioning in only fundamentally sound stocks as the weak macro environment remains a significant headwind for corporate earnings.”
In their own comment, analysts at Investdata Consulting said: “We expect mixed sentiments on bargain hunting, in the midst of expected positive news, while investors digest corporate earnings ahead of July inflation data and First-tier banks earnings reports.
‘‘However, pullbacks are creating buying opportunities amidst economic reforms of the government, just as more policy pronouncements and economic managers hit the ground running, a situation expected to offer investment direction eventually.
‘‘Also, more Q2 earnings reports are expected to confirm the real state of the company performance and attract liquidity in the midst of markdown dates and the release of remaining audited accounts.
‘‘We note that discerning investors have continued to target fundamentally sound companies and defensive stocks to protect their portfolios.”
Peoples Democratic Party, PDP, has accused President Bola Tinubu and his ruling All Progressives Congress of warmongering. According to the opposition party, the President and his party are trying to plunge the nation into a needless war with a brotherly nation in a desperate bid to cling to power.
National Publicity Secretary of the PDP, Debo Ologunagba, who stated this in Abuja yesterday, said the PDP strongly condemned what it called “the desperation by Senator Bola Ahmed Tinubu and the All Progressives Congress, APC, “ to plunge Nigeria into a state of war by dragging the military into a needless conflict with the Niger Republic.
Ologunagba said: “The PDP observes that the insistence by the APC administration to draft Nigerian soldiers into Niger Republic in defiance to the disapproval by the National Assembly and Nigerians across the board, validates apprehensions in the public domain of ulterior motives by the Tinubu-led APC to import crisis and destabilize our nation for political reasons.
“While the PDP frowns at the unconstitutional change of government in any part of the world, our party holds that the situation in Niger Republic does not warrant any external peace-keeping effort and does not constitute any threats whatsoever to our national interest to justify committing our already overstretched military to harm’s way in a needless war. “The insistence of the APC government to go to war in the Niger Republic is already heightening tension in Nigeria.
“There are insinuations in the public that the APC is only desperate to deploy Nigerian military to Niger Republic so as to provoke possible external aggression from that country, thereby orchestrating a situation for the declaration of a State of Emergency in Nigeria with the tendency to cripple the judicial process on the 2023 Presidential election and divert attention from the hardship the APC has foisted on the nation in the last two months.
“It is apparent that the APC is desperate to orchestrate a situation of ‘imminent danger of invasion or involvement in a state of war’ so as to have the excuse to declare a State of Emergency under Section 305 (3) (a) and (b) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended). “The PDP holds that nothing else can explain why the APC administration is eager to go to war in Niger Republic while it has practically turned a blind eye to the insecurity situation in our country, even with the mindless killing of over 500 innocent Nigerians in Plateau, Benue, Niger, Kaduna and other states of the federation since May 2023.
Leader of the military junta in the Republic of Niger, General Abdourahmane Tchiani, said weekend that the coup in which they overthrew President Mohammad Bazoum was well intended and was carried out to avert an imminent threat that would have affected not only the Niger Republic but also Nigeria.
This came as the Catholic Bishops Conference of Nigeria, CBCN, for the second time in a week, appealed to the Federal Government to take head-on, the corruption, insecurity, and skewed appointments in the country, rather than declaring war on Niger Republic.
Recall that prior to ECOWAS leaders’ decision to adopt a military option against the coup leaders in Niger Republic last weekend, the Catholic Bishops had advised the chairman, President Bola Tinubu, and other West African leaders not to give in to military intervention in the country.
This is even as the presidential candidate of the Labour Party in the February 25, 2023 election, Mr Peter Obi, advised the Federal Government and ECOWAS to prioritize diplomacy, instead of military force to resolve the standoff with the coupists in Niger Republic.
French superstar Kylian Mbappe was reinstated in Paris Saint-Germain’s first team on Sunday after being sidelined for several weeks amid an ongoing contract dispute.
PSG opened their Ligue 1 title defence with a goalless draw at home against Lorient on Saturday as the team’s prize asset watched from the stands.
“After very constructive and positive discussions between Paris Saint-Germain and Kylian Mbappe before the PSG-Lorient match, the player was reinstated in the first training team this morning,” PSG said in a statement.
After a summer of flux at the Parc des Princes filled with new arrivals and Lionel Messi’s departure, it is the Mbappe stand-off that continues to dominate the headlines.
The France captain has refused to sign an extension to his PSG deal, meaning he can leave for free next year, with Real Madrid long seen as his preferred destination.
PSG want to sell him now and bring in a significant transfer fee for a player who cost 180 million euros ($198 million) from Monaco in 2017.
New coach Luis Enrique on Friday said he hoped a solution could be found, but Mbappe has not been allowed train with the first team and was left out of the squad to face Lorient.
Instead, he sat alongside fellow 2018 World Cup winner Ousmane Dembele, who completed his transfer from Barcelona earlier in the day, as Luis Enrique handed debuts to six players.
The two knockout matches will be played on August 15 and August 16.
Spain, Sweden, Australia and England have never won the Women’s World Cup before. We make the case for each team going all the way to lift the trophy.
It is now certain that the 2023 FIFA Women’s World Cup™ will have a first-time winner. All the teams that have previously won the tournament have already been eliminated in the current edition: Germany fell in the group stage, USA and Norway said farewell after the round of 16 and Japan left the competition in the quarter-finals. In other words, a new country will be at the top of the women’s game at the conclusion of Australia & New Zealand 2023.
Spain
FIFA/Coca-Cola Women’s World Ranking: 6
Women’s World Cup appearances: 3 (2015, 2019 and 2023)
Best Women’s World Cup performance: 2023 (Semi-finals)
Spain v Netherlands | Quarter-finals | FIFA Women’s World Cup Australia & New Zealand 2023| Highlights
Watch the highlights from the match between Spain and Netherlands played at Wellington Regional Stadium, Wellington / Te Whanganui-a-tara on Friday, August 11, 2023 at 1:00 PM (local time).
Road to 2023 semi-finals:
Spain 3-0 Costa Rica (Group C)
Spain 5-0 Zambia (Group C)
Japan 4-0 Spain (Group C)
Switzerland 1-5 Spain (Round of 16)
Spain 2-1 Netherlands AET (Quarter-finals)
Spain has been an emerging power in women’s football in recent years. Although they have never qualified for the Olympics, the senior team are in their third Women’s World Cup (their first was in 2015) and have already celebrated winning the U-20 world title in 2022.
At senior level, the trophy is still missing – this is the first time Spain have reached the semi-finals. However, despite never being champions, anyone who thinks that this Spanish team is not star-studded is sorely mistaken.
La Roja can point to having the winner of the 2021 and 2022 The Best FIFA Women’s Player in Alexia Putellas, the UEFA Women’s Champions League player of the season for 2022/23 in Aitana Bonmati and centre-back Irene Paredes – also voted into the team of the season for the latter competition. The list of renowned performers does not stop there, however, with the aforementioned Hermoso, currently playing her club football in Mexico, sparkling at Australia & New Zealand 2023™.
Sweden
FIFA/Coca-Cola Women’s World Cup Ranking: 3
Women’s World Cup appearances: 9 (1991, 1995, 1999, 2003, 2007, 2011, 2015, 2019, 2023)
Best Women’s World Cup performance: 2003 (Runners-up)
Japan v Sweden | Quarter-finals | FIFA Women’s World Cup Australia & New Zealand 2023™ | Highlights
Watch the highlights from the match between Japan and Sweden played at Eden Park, Auckland / Tāmaki Makaurau on Friday, August 11, 2023 at 7:30 PM (local time).
Road to 2023 semi-finals:
Sweden 2-1 South Africa (Group G)
Sweden 5-0 Italy (Group G)
Argentina 0-2 Sweden (Group G)
Sweden 0 (5) -0 USA (4) (Round of 16)
Japan 1-2 Sweden (Quarter-finals)
Of the six teams left in the competition, Sweden are undoubtedly the most traditional. The European side have reached the podium three times; they were runners-up in 2003, when they were beaten by Germany in the final, and have finished third twice, in 1991 and 2011.
Sweden’s history with the Women’s World Cup goes back a long way, having hosted the tournament for the second time in 1995. Curiously they crashed out in the quarter-finals after losing on penalties to China PR – further proof of the curse that often frustrates tournament hosts.
The Swedes’ path to the 2023 semi-finals has been a bright one. They qualified top of Group G and have already knocked out defending champions USA and Japan, who had been flawless up until the point, in the knockout stages. An eventual title would crown a campaign worthy of toppling giants.
Australia
FIFA/Coca-Cola Women’s World Ranking: 10
Women’s World Cup appearances: 8 (1995, 1999, 2003, 2007, 2011, 2015, 2019 and 2023)
Best Women’s World Cup performance: 2023 (Semi-finals)
Australia v France | Quarter-finals | FIFA Women’s World Cup Australia & New Zealand 2023™ | Highlights
Watch the highlights from the match between Australia and France played at Brisbane Stadium, Brisbane / Meaanjin on Saturday, August 12, 2023 at 5:00 PM (local time).
Road to 2023 semi-finals:
Australia 1-0 Republic of Ireland (Group B)
Australia 2-3 Nigeria (Group B)
Canada 0-4 Australia (Group B)
Australia 2-0 Denmark (Round of 16)
Australia 0 (7)-0 France(6) (Quarter-finals)
With the exception of the first one in 1991, Australia have participated in every other edition of the Women’s World Cup. The Matildas now have some of the world’s top stars and the support of a key 12th player during matches: the fans.
Sam Kerr is the big star of the current squad and is capable of drawing large crowds of young players who dream of being like her. This is not a team suffering from Kerr-dependency, however, as she only recently returned from injury and has seen her team-mates find ways to win largely without her.
By beating France in the quarter-finals, Australia have already achieved their best result in Women’s World Cup history. Until then, the team had collected four quarter-final appearances (2007, 2011, 2015 and 2023).
England
FIFA/Coca-Cola Women’s World Ranking: 4
Women’s World Cup appearances: 6 (1995, 2007, 2011, 2015, 2019 and 2023)
Best Women’s World Cup performance: 2015 (Third place)
England v Colombia | Quarter-finals | FIFA Women’s World Cup Australia & New Zealand 2023™ | Highlights
Watch the highlights from the match between England and Colombia played at Stadium Australia, Sydney / Wangal on Saturday, August 12, 2023 at 8:30 PM (local time).
Road to 2023 semi-finals:
England 1-0 Haiti (Group D)
England 1-0 Denmark (Group D)
China PR 1-6 England (Group D)
England 0 (4) – (2) 0 Nigeria (Round of 16)
England 2-1 Colombia (Quarter-finals)
England are the European champions and have a wall in goal in Mary Earps, one of the best goalkeepers in the world.
A common belief is that one learns the most after a defeat, and England have learned enough from their semi-final exit in 2015. Now, after a hard-fought win over Colombia in the quarter-finals, they are looking to finally win the tournament and put a gold medal alongside the bronze they won that year. The clash with hosts Australia promises plenty of excitement in Sydney.
One obstacle will be doing so without Lauren James, one of England’s key players who will miss the semi-final due to red-card suspension. Sarina Wiegman’s side have proved that they can adapt to setbacks, however, and are tactically flexible, which should serve them well in the face of a partisan crowd.
The World Athletics has disclosed that women’s 100m hurdles world champion and record holder, Tobi Amusan, has not yet been cleared to compete at this year’s World Championships, which begins this weekend in Budapest, Hungary.
This is in the wake of several reports making the rounds that the Nigerian had been given the greenlight to compete to defend her title at the championships.
Amusan was provisionally suspended last month by the AIU for missing three whereabouts tests.
Head of Communications of World Athletics, Nicole Jeffery, in a statement obtained via Nigerian track and field club Making of Champions said, “Please be advised – reports appearing in Nigeria that say Tobi Amusan has been cleared to compete in Budapest are wrong.
“No decision has been made in this case yet. When a decision is made, it will be announced by the Athletics Integrity Unit.”
In the entry list published by World Athletics, the women’s 100m hurdles world record holder was listed among Team Nigeria’s athletes, but her participation is still subject to clearance by the AIU.
With a decision expected to be made before the start of the championships, the Athletics Federation of Nigeria said it was awaiting the AIU’s verdict on the hurdler.
“The condition that the World Athletics put in front of her name says ‘pending AIU process’, so we are still waiting for it. But I’m sure we will have it before the start of the games,” AFN Technical Director Samuel Onikeku said.
The Nigerian made history at the championships last year in Oregon, USA, racing to a new world record time of 12.12secs in the semi-finals, before running 12.06secs in the final to clinch the gold medal and become Nigeria’s first-ever world champion and record holder in athletics.
Before her suspension, the 26-year-old had been in fine form, running a new season’s best of 12.34secs at the Silesia Diamond League meeting in Poland to win her second consecutive race of the season in July, while she also won at the World Athletics Continental Tour Gold in Hungary same month.
Alex Iwobi remains in discussions with Everton over the possibility over a new contract, but there is not anything imminent when it comes to the attacker’s future.
The 27-year-old has less than 11 months left to run on his contract at Goodison Park, and he has thus far been unable to come to an agreement over an extension.
Everton boss Sean Dyche told the Liverpool Echo that discussions are ongoing with the players who are entering the latter stages of their contracts.
“Me and (director of football Kevin Thelwell) have been speaking about the idea of being open with the agents, open with the players and fathoming out in a way that is a more open scenario – open conversations, where are we at with it, what is the truth of it, and working it all out,” he said.
“That is just an ongoing process, not just with him but with every player whose contract has either got a renegotiation or a question mark or time lapse.”
Iwobi played the full 90 minutes of Everton’s 2023-24 Premier League opener against Fulham on Saturday, and he has now turned out on 139 occasions for the club since arriving from Arsenal.
Axel Diasi scored on his Premier League debut as Chelsea began their Premier League season with a draw against Liverpool in manager, Mauricio Pochettino’s first competitive game in charge.
The French defender, a £38.8m buy from Monaco equalised for the Blues in the 37th minute after Luis Diaz had opened the scoring early for Liverpool.
Ben Chilwell and Mohamed Salah then saw their goals ruled out in the first half following video assistant referee checks.
Salah’s run of scoring on the Premier League’s opening day also came to an end after six consecutive seasons.
Despite half chances for Diaz and another debutant, Nicolas Jackson, neither side could capitalise on their opportunities and prevent a fifth consecutive draw between the sides.
Chelsea’s new manager Pochettino will have hoped to start his reign with a victory but there was plenty for him to be satisfied about as his new team recovered from a shaky start to deliver many encouraging signs.
The world body confirms that of the 44 individual winners from the 2022 edition in Oregon, 38 are entered to defend their titles in Budapest
The World Athletics has released the final entry lists for the World Athletics Championships billed for Budapest, Hungary from 19-27, August 2023.
Despite the controversies and uncertainties hanging over her neck, Nigeria’s Tobilola Amusan has been listed for action albeit with a proviso that the World Record holder’s participation is subjected to the outcome of the pending arbitration with the Athletics Integrity Unit (AIU).
The difficult situation Amusan presently finds herself. However, there appears to be some hope, if the reigning world champion can successfully argue her case against the AIU.
As revealed by the World Athletics, over 2000 athletes from 202 teams intend to compete for honours at Hungary’s new National Athletics Centre at the 2023 World Championships.
The world body confirms that of the 44 individual winners from the 2022 edition in Oregon, 38 are entered to defend their titles in Budapest, with Peru’s double champion Kimberly Garcia set to contest both the 20km and 35km race walk events.
Shelly-Ann Fraser-Pryce seeks a record-extending sixth world 100m title after she led a Jamaican sweep of the medals last year, winning a championship record of 10.67.
Pawel Fajdek also has the chance to secure a sixth gold medal, having won the past five consecutive world hammer titles.
For Nigeria, the AFN has selected a decent team they hope to better the performance achieved in Oregon.
Iteshekiri Usheoritshe, Ashe Favour, Seye Ogunlewe, Alaba Akintola, Fakroede Adekalu, Karlignton Anunagba, Dubem Nwachukwu, Nathaniel Ezekiel, Chidi Okezie, Samuel Ogazi and Chukwuebuka Enekwechi are the male athletes that would be defending Nigeria’s Green and White colours in Budapest.
Topping the women’s list is Olympic Bronze medalist, Ese Brume, along with Rosemary Chkuwma, Favour Ofili, Umukoro Success, and Okwose Faith, fresh from her exploits at the Commonwealth Youth Games in Trinidad and Tobago.
Others are; Patience Okon, Uko Imaobong Nee, Eyakpobeyan Justina, Patience George Okon, One Opeyemi One, Omojuvwewo Ella, Ruth Usoro, Amaechi Obiageri, Aumba Ashley, Chioma Onyekwere and Olatoye Oyesade.
Official start lists according to the World Athletics will become available after the technical meeting on the eve of the championships.
As expected, the Athletics Federation of Nigeria ‘omitted’ Amusan’s name from the list made public on Tuesday as no federation is allowed to enter a banned athlete for any competition.
However, the AFN had already given the World Athletics its permission to have Amusan on its final entry list so she will not miss out on competing once her pending appeal against AIU’s provisional ban is successful.
With three more gold medals won on the final day of action, Team Nigeria took its total haul to six gold and two silver medals.
Team Nigeria finished their campaign on a blistering note at the Commonwealth Youth Games on Thursday night; winning three gold medals and setting a new Games Record in the 4x100m mixed relay.
Having initially won the gold medal in the 100m and 400m events respectively, Faith Okwose and Samuel Ogazi claimed the gold medal in both the women’s and men’s 200m events.
As rightly predicted, Okwose won the women’s 200m gold in a time of 23.36s while her compatriot Eyakpobeyan Justina settled for the silver medal with her time of 23.47s.
Commonwealth Youth games: Faith Okwose blistered to gold in the women’s 200m securing a double victory with 23.36s(-1.5) ahead of Eyakpobeyan Justina in silver with 23.47s and Locker La’nica in third with 23.56s.
Unfortunately, the other Nigerian who made it to the 200m men’s final, Okon Israel Sunday narrowly missed out on a podium finish as he settled for fourth position with a time of 21.94s.
Team Nigeria kept the best for the last when the quartet of Ogazi, Eyakpobeyan, Okwose and Okon claimed gold in the 4x100m Mixed Relay with a time of 42.68s.
The winning time by the Nigerian youngsters eclipsed the former 43.19 feat set by Australia at the 2017 Commonwealth Youth Games in Nashua.
With three more gold medals won on the final day of action, Team Nigeria took its total haul to six gold and two silver medals.
This put them better placed on the overall medals table; finishing 5th behind the quartet of Australia, England, Scotland and South Africa.
Team Nigeria competed at the Games held in the Port of Spain, the capital of Trinidad and Tobago with 25 athletes, aged between fourteen (14) and eighteen (18) years.
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![Commonwealth Youth games: Faith Okwose blistered to gold in the women's 200m securing a double victory with 23.36s(-1.5) ahead of Eyakpobeyan Justina in silver with 23.47s and Locker La'nica in third with 23.56s. [PHOTO: @VAthleticz]](https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2023/08/F3M5_QKWcAANG8L-e1691746977710.jpg?w=696&ssl=1)
