Nigerian Market News

• Naira weakens as external reserves decline by $52.10m July 6, 2020
  Nigeria’s currency on Monday weakened across black market and the Nigerian Autonomous Foreign Exchange Fixing (NAFEX) as liquidity slumps. Naira depreciated by N1.00k as the dollar traded at N459 on Monday from N458 since almost two weeks ago on the black market. The local currency also fell by N0.50k after the dollar was quoted at […]
• COVID-19: FG gives guidelines on Edo, Ondo gubernatorial elections July 6, 2020
  Ahead of the Edo and Ondo States gubernatorial elections, the Federal government on Monday released guidelines for the conduct of electoral campaigns. The Director-General of the Nigeria Centre for Disease Control (NCDC), Chikwe Ihekweazu, gave the guidelines while giving an update on COVID-19. He advised politicians to use media channels such as radio, television, and […]
• Bears hold sway on Nigerian Stock Exchange     July 6, 2020
  The Nigerian stock market opened this new week on a negative note, extending its record downward trend despite the attractiveness of a  number of fundamentally sound stocks.  BusinessDay had ahead of market open advised stock investors to be cautious and bet on only value counters as factors triggering the bearish trend remain. The Nigerian Stock […]
• Yuguda resumes as new DG of SEC July 6, 2020
  The new Director General of the Securities and Exchange Commission (SEC) Lamido Yuguda has resumed work, stating that the capital market has a lot of potentials for growth and development of Nigeria post COVID-19 and beyond. Yuguda resumed on Monday alongside the Executive Commissioners namely: Reginald Karawusa, Ibrahim Boyi and Dayo Obisan. The SEC DG […]
• Stanbic IBTC unveils upgraded mobile app July 6, 2020
  Stanbic IBTC Holdings Plc, a member of Standard Bank Group, has upgraded its mobile app by introducing exciting features to enable seamless transactions for its customers. The one-stop mobile app tagged Super App, consists of the entire range of the Stanbic IBTC Group products such as My Bank, Mutual Funds, Pension, @Ease, Insurance and Stockbroking. […]
• Champion Breweries links N96million full year profit to costs reduction  July 6, 2020
  Champion Breweries Plc is leveraging on reduced costs of production in her efforts to return to profitability. The company, which held her 44th Annual General Meeting last Friday using virtual platform, said results of such efforts have positively impacted on production and sales of her brand portfolio in the reporting year 2019. Addressing shareholders who […]
• Nova Merchant Bank makes market debut with N10bn bond July 6, 2020
  Nova Merchant Bank has said that its ongoing N10 billion bond issuance is aimed at putting the business on firm footing to achieve its short-term and long-term goals. The technology-driven financial institution is seeking to raise up to N10 billion 7-year Fixed Rate Subordinated Unsecured Bonds under its N50 billion debt issuance programme. The bond […]
• Stock market to maintain downward trend this week  July 6, 2020
  Speculative buyers at the Nigeria stock market will not be in for good bets this week amid  scarcity positive catalysts capable of spurring ‘Buy’ decisions. The odds are still in favour of the bears due to a  combination of increasing cases of Covid-19 and fluctuating oil price which dampen foreign investors appetite for Nigerian stocks. […]
• Stanbic IBTC, EFG Hermes lead as transactions rise by 21% in H1 2020 July 5, 2020
  In spite of the Covid 19 pandemic, stakeholders at the nation’s capital market executed N1.01 trillion worth of transactions at half year 2020, a development that means that the Nigerian bourse witnessed 52 percent increase in transactional value when compared with half year 2019 when transactions were worth N661.73 billion. Analysts have attributed the increase […]
• Julius Berger, Lafarge, MTN boost indices as NSE conducts half year reviews July 5, 2020
  THE Nigerian Stock Exchange (NSE) has come up with the half year reviews of sectoral indexes and some indices have seen the entry and exit of some stocks. Whenever such reviews are carried out, there will be removal and inclusion of listed stocks in sectoral indices reflecting whether or not they meet the listing conditions […]