Markets

A trader changes dollars with naira at a currency exchange store in Lagos

Naira gains against USD, closes at ₦358 at parallel market

The Naira on Friday gained ₦1 to close at ₦358 to the dollar at the parallel market in Lagos. The News Agency of Nigeria (NAN) reports that the naira traded stronger on the eve of elections than Thursday when it closed at ₦359 to a dollar. The Pound Sterling was sold at ₦470 and the […]

Read More
CBN hq

CBN provides $268.4 mln, ¥46.3 mln for agric, raw materials

The Central Bank of Nigeria (CBN) on Friday provided $340 million and 46.3 million Chinese Yuan (CNY) to customers seeking foreign exchange in the agricultural and raw materials sector. CBN Spokesperson, Isaac Okorafor, said the sales in the Chinese Yuan was done through a combination of spot and short-tenored forwards segment of the foreign exchange […]

Read More
world news, trump, u.s., business news, stock market, entertainment news, business news, company news, market, commodities, commodity, Africa news

FGNSB for February oversubscribed by ₦84 bln

The Federal Government’s bond for the month of February worth ₦150 bln which was offered on Wednesday was oversubscribed by over ₦84 bln. The Debt Management Office disclosed on Thursday that the trend of oversubscription at the FGN bond auctions for the year continued, after the three instruments for five, seven and 10-year tenors, with […]

Read More
A day after a rout, US stocks turn higher on solid earnings

Jumia, Konga plan $4.7 bln IPOs on international market

The two major players in the Nigerian e-commerce space – Jumia and Konga – are considering listing their respective shares on the international market. Jumia had earlier announced its planned $1.5 billion initial public offering (IPO) on the New York Stock Exchange this year, which would reportedly see the business valued at $1.5 billion, even […]

Read More
Traders work at the Nigerian Stock Exchange in Lagos

NSE ASI appreciates on sustained bullish trading

The Nigerian stock market sustained its positive performance last week as foreign and domestic investors as investors played down election risk. Having appreciated 2.9 per cent the previous week, the market rose further last week, returning 3.7 per cent. Specifically, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) appreciated to 32,715.20, while market capitalisation added […]

Read More
U.S. Dollar held with Nigerian Naira

Naira stands firm in the midst of election odds, says ABCON

The naira has in over 18 months remained stable at both the official and parallel markets despite several odds facing it ahead of the 2019 general elections, President, Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji (Dr.) Aminu Gwadabe has said. Speaking to journalists in Lagos, the ABCON boss commended the Central Bank […]

Read More
Traders work at the Nigerian Stock Exchange in Lagos

NSE ASI rose to 0.12 pct as market capitalisation added ₦14.0 billion

After one day of negative performance the stock market rebounded yesterday as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) gained 0.12 per cent to close at 32,453.69 compared with a decline of 15 per cent. Market capitalisation added ₦14.0 billion to close at ₦12.1 trillion. The market had on Wednesday depreciated due to profit […]

Read More
Traders work at the Nigerian Stock Exchange in Lagos

NSE records year-to-date growth of 3.3 pct on bullish trading

The Nigerian equities market has recorded a year-to-date (YTD) growth of 3.3 per cent following sustained bullish trading as investors took advantage of attractive prices of stocks. The market, which suffered a decline in 2018, recorded further losses in the month of January due apprehensions by investors over political uncertainties around the general elections in […]

Read More
Traders work at the Nigerian Stock Exchange in Lagos

NSE gains as Stakeholders increases investment to ₦27 bln

Contrary to the apprehension that investors may reduce patronage of equities market few days to the presidential election, foreign and domestic investors increased their investment in stocks last week. Consequently, a total of ₦26.884 billion was invested in 1.894 billion shares in 19,213 deals. This was higher than the ₦14.788 billion in 1.452 billion shares […]

Read More
Consolidated Hallmark

Consolidated Hallmark lists 1.1 bln shares on NSE

Consolidated Hallmark Insurance Plc has listed an additional 1.13 billion ordinary shares of 50 kobo each on the Nigerian Stock Exchange. According to a statement issued by the NSE on Tuesday, the company issued the shares at 65 kobo per share by placement. It said, “Dealing members are hereby notified that additional 1.13 billion ordinary […]

Read More
Traders work at the Nigerian Stock Exchange in Lagos

Stanbic, FBN, Access sustain equities market

Gains recorded by Stanbic IBTC Holdings Plc, FBN Holdings Plc, Access Bank Plc, GTBank Plc and Beta Glass Plc helped to sustained the positive performance of the stock market yesterday. After declining the previous week due to profit taking, the market opened the week on positive note on Monday, rising by 0.35 per cent. The […]

Read More

Capital market needs initiative to attract, retain investment – SEC

The Securities and Exchange Commission has said the capital market needs initiatives that will help attract and retain investments. The acting Director-General, SEC, Ms Mary Uduk, while speaking at the launch of an investment book, ‘Riding the Eagle’, in Lagos on Monday, urged stakeholders to continue to take positive steps that would attract both local […]

Read More