As more companies’ results are expected to be released this week, equity market activities on the Nigerian Stock Exchange, NSE, is expected to be stronger with mixed sentiments by investors, despite the decline in market indicators experienced penultimate week. Financial analysts have predicted that amidst cautious trading, higher activity will spur the market as investors […]
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The Nigeria’s Central Bank has sold ₦98 billion of treasury securities on Thursday to keep liquidity tight to support the currency, a day after it auctioned ₦133.25 billion of T-bills, traders said. The local naira currency has been stable for more than two weeks, supported by central bank interventions, foreign inflows and tight liquidity on […]
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Managing Director, Jaiz Bank Plc, Mr Hassan Usman, has advised the Federal Government to devise a regular Sukuk issuance programme to secure much-needed capital to boost infrastructural development and end the menace of abandoned projects. The Federal Government recently successfully floated its first sovereign Sukuk bond, raising ₦105 billion, ₦5 billion over-subscription on the initial […]
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Nigerian equities traded on a tight balance of bargain-hunting and profit-taking yesterday at the Nigerian Stock Exchange (NSE), but losses by two highly capitalised companies-Lafarge Africa and Nigerian Breweries, weighed down the overall market position. With 19 gainers and losers each, the market appeared to be on a momentary pause after the recent streak of […]
Read More FCMB Group Plc, Diamond Bank Plc and FBN Holdings Plc (measured by volume) accounted for 659.042 million shares worth ₦1.312bn in 1,933 deals, thus emerging as the top three traded equities for last week. The three financial institutions contributed 44.14 per cent and 8.69 per cent to the total equity turnover volume and value, respectively, […]
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The Nigerian Government has planned to raise between ₦270 billion and ₦330 billion ($857 million – $1.1 billion) in local currency-denominated bonds in the fourth quarter of 2017, the Debt Management Office (DMO) said on Wednesday. DMO said it would auction between ₦135-165 billion worth of bonds maturing in 2021 and the same amount of […]
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Continental Reinsurance Plc, Sterling Bank Plc and Access Bank Plc (measured by volume) were the top traded equities last week as they accounted for 412.840 million shares worth ₦1.486bn in 817 deals. The equities contributed 31.14 per cent and 10.55 per cent to the total equity turnover volume and value, respectively. A total turnover of […]
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The Debt Management Office (DMO) on Thursday, said the Federal Government would float fresh eurobond to raise $2.5 billion before the end of 2017. Director General of DMO, Patience Oniha, who made this known at the 2017 Nigerian Debt Capital Markets Conference and Awards, organised by the FMDQ OTC Securities Exchange in Lagos said the […]
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Nigerian equities rebounded yesterday as large-cap stocks rallied the market to a net capital gain of ₦53 billion. Benchmark indices at the Nigerian Stock Exchange (NSE) showed average day-on-day gain of 0.44 per cent, representing net capital appreciation of ₦53 billion. The All Share Index (ASI)-the benchmark index for the equities market, rose from its […]
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Aiico Insurance Plc, Flour Mills Nigeria Plc, Nestle Nigeria Plc, Continental Reinsurance Plc and Linkage Assurance Plc emerged the top five losers at the close of trading on the floor of the Nigerian Stock Exchange on Tuesday, as equities depreciated by ₦63 billion. The Nigerian equities market extended losses as the All-Share Index slid by […]
Read More Investment analysts in the capital market have said that prices on the Nigerian Stock Exchange, NSE, may trade around current levels and even higher towards the end of the year. Analysts at Cowry Asset Management Limited expressed this view in a Report titled “H1 2017 Review and Outlook for H2 2017”. They projected a positive […]
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The Nigeria’s Central Bank will this week step up its liquidity mop-up in a bid to offset impact of ₦333 billion inflows into the interbank money market. Already, the apex bank is scheduled to mop-up ₦174.15 billion this Wednesday through Open Market Operation (OMO) treasury bills (bills) auction. The auction comprises 91-day bills worth ₦39.01 […]
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