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Market Recap 17 February to 23 February 2021

Market Recap 17 February to 23 February 2021

The local market was active this week, with the NSX Local index down 1.01% at 412, and the NSX Overall Index up 3.61% at 1348. As at 23 February, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 6.4 billion, followed by FirstRand Namibia with N$ 6.2 billion, Capricorn Group with N$ 5.2 billion and Trustco Group with N$ 4.2 billion. Namibia Breweries lead the market this week with growth of 1.61% to close at N$ 31.00 per share, with Trustco Group in second place at N$ 2.60 per share after growth of 0.39%. In terms of volume Stimulus Investments lead the market with N$ 5.5 million worth of shares traded, with Oryx Properties in second place with N$ 1.2 million worth of shares traded. The local currency gained 0.46% against the US Dollar, to close at N$ 14.65 per USD, and lost 0.15% against the British Pound, to close at N$ 20.36 per GBP. It closed at N$ 17.74 against the Euro, a gain of 0.55%.

 

Market Recap February 2021 local week NSX Namibia Breweries FirstRand Trustco Group

 

Letshego Holdings Namibia released its trading statement for the year ending 31 December 2020, and announced that it will be restating its 2018 and 2019 audited financial results. As a result, both basic as well as headline earnings per share for the years ended 2018 and 2019 will be adjusted downwards, by 13.6% and 11% respectively to 81c per share and 80c per share respectively. Following these restatements, Letshego announced that the 2020 basic and headline earnings per share is expected to be between 15% and 20% less than the restated 2019 numbers, and is expected to be between 64c and 68c per share.

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