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The Nigerian equity market gained N607 billion in market capitalisation in the past week, on the back of buying interest in large-cap stocks like Access Corporation and MTN Nigeria. The All-Share Index appreciated by 1.06 percent to close at 97,456.62, while the market capitalisation rose by 1.10 percent to N56tn. All other indices closed higher, ...
By Esther Agbo Nigerian Breweries Plc has announced plans to raise N599.1 billion through a rights issue, aimed at repairing its balance sheet and mitigating the effects of foreign exchange (FX) devaluation on its operations. This was revealed during the company’s “Facts Behind the Rights Issue” presentation, held at the Nigerian Exchange Limited (NGX) on ...
Greif Nigeria PLC, a manufacturer and marketer of steel drums, is set to enter the third and final phase of its delisting from the Nigerian Exchange (NGX) after resolving outstanding tax liabilities and other debts. The company, which was listed on the NGX in 2011, has experienced a prolonged decline in its stock performance, dropping ...
The Nigerian Exchange Ltd.(NGX) market capitalisation, on Friday, closed positive with N248 billion gain. Specifically, the market capitalisation added N248 billion or 0.44 percent to its opening of N55.754 trillion to close at N56.002 trillion. The All-Share Index also gained 0.44 percent or 432 points to close at 97,456.62 points, against 97,025.17 points reported on ...
Investors in the Nigerian equities market enjoyed a trading week of massive profit taking as they raked in a massive N607bn on the floor of the Nigerian Xchange Group (NGX) as equity capitalisation rose to N56.00trn from N55.39 trillion the previous week. This follows a loss of N83.55 billion in the previous week The bourse ...
…Becomes first Nigerian financial institution to cross the N1trn mark in profit By Seun Ibiyemi Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2024, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit ...
The Nigerian stock market, on Tuesday, rebounded from its previous session’s loss with N343 billion profit added to the portfolios of investors. Investors’ interests in MTN Nigeria, alongside Guaranty Trust Holding Company (GTCO),Transnational Corporation and Oando Plc pushed the broader index into positive terrain. Specifically, the Nigerian Exchange Ltd.(NGX)market capitalisation gained 0.62 percent or N343 ...
The Nigerian equity market opened the week with N111 billion loss recorded for investors, amid supplementary listing of eight billion ordinary shares of Japaul Gold and Ventures Plc. Specifically, the Nigerian Exchange Ltd.(NGX) market capitalisation, which opened at N55.394 trillion, shed N111 billion to close at N55.283 trillion. The All-Share Index also declined by 0.24 ...
By Esther Agbo FCMB Group Plc has expressed appreciation to key financial regulators and the Nigerian Exchange Group (NGX) for their crucial support in the successful execution of the initial phase of its transformational capitalisation programme. The achievement is seen as a significant boost to the group’s financial standing and shareholder value. In a statement, ...
Investors in the Nigerian equities market endured mixed trading sessions on the floor of the Nigerian Xchange Group (NGX) as equity capitalisation fell to N55.39 trillion from N55.47 trillion the previous week. This follows a gain of N348.34 billion in the previous week. The bourse recorded gains in three of the five trading days of ...
The Nigerian equities market closed the week’s trading with a N128 billion gain for investors on Friday. This followed an increase in the share prices of stocks like NSL TECH, OANDO, and UACN amongst others on the trading floor. After five hours of trading at the capital market, the equity capitalisation surged to N55.3 trillion ...
FBN Holdings Plc plans to sell its 100 percent equity stake in its subsidiary, FBNQuest Merchant Bank Limited, to EverQuest Acquisition LLP. In a recent report, the company announced the sale aligns with its goal to optimise its portfolio. “In accordance with the Nigerian Exchange Limited (NGX) Rulebook, we hereby notify the Nigerian Exchange Limited ...
In the black market, the Nigerian naira lost N5 against the dollar, trading at N1,645/$1, down from N1,640/$1. In the official window, the naira dropped even further against the US dollar on Wednesday, September 4, 2024. Data from the Nigerian Autonomous Foreign Exchange Market shows that the local currency traded at N1,625/$1, down from N1,611/$1 ...
Trading session on the Nigerian Exchange Limited (NGX) closed in the red zone as investors expectedly continued their cautious sentiment amid dearth of positive triggers on Thursday. Oando, RT Briscoe, FTN Cocoa were mostly on offer while stocks like Berger Paints and Meyer were majorly on bid. RT Briscoe decreased from N2.60 to N2.34, down ...
The Nigerian stock market, on Wednesday, reversed gains from previous sessions with a loss of N193 billion. Selloffs in Tier-one banking stocks namely, Zenith Bank, Access Corporation, Guaranty Trust Holding Company (GTCO), among other declined equities were the primary drivers of the market’s relapse. The Nigerian Exchange Ltd. (NGX) market capitalisation which opened at N55.647 ...
The exchange rate between the naira and the dollar fell to a six-month low of N1,625.88/$1 on the official NAFEM market on Wednesday, August 4, 2024. This marks the lowest exchange rate since March 8, 2024, when it was recorded at N1627.4/$1. According to the FMDQ data for the NAFEM window, the naira’s depreciation on ...
...To pay N25.9bn as interim dividend Stanbic IBTC Holdings has declared a pre-tax profit of N84.2 billion in its recent results for the 3 months period. The group also recorded an increase in gross earnings by 77.44 percent, profit before tax increased by 77.14 percent and profit after tax increased by 71.32 percent. The directors ...
Oando Plc has been initiated into the N1 trillion list on the Nigerian stock market. The oil company joins MTN , Airtel Africa, Dangote Cement, BUA Foods, BUA Cement, GT, Zenith Bank, Seplat Energy, First Bank, Geregu and TransPower. This is as Nigeria’s equities market garnered additional N45 billion on Tuesday after rising by 0.08 ...
By Esther Agbo For Nigeria’s investment landscape develop ment, the Securities and Exchange Commission (SEC) has granted an approval-in-principle to DreamCity Capital, a digital platform that aims to reshape how Nigerians invest in real estate. This approval is a preliminary endorsement, signalling that DreamCity Capital’s innovative approach to real estate investment aligns with regulatory expectations, ...
By Esther Agbo PremiumTrust Bank, Nigeria’s rapidly ascending commercial banking institution, has marked a significant milestone by holding its inaugural Annual General Meeting (AGM) in Lagos. The event, which brought together key stakeholders, served as a platform for the bank’s leadership to underscore its robust financial performance for the 2023 fiscal year and to reassure ...
Opening the week, investors’ interest in Tier-one banking stocks further extended gains of the Nigerian stock market capitalisation by N123 billion or 0.22 per cent. Gains in Zenith Bank, United Bank For Africa (UBA), Guaranty Trust Holding Company (GTCO), Fidelity Bank, Access Corporation, among other advanced equities lifted the market up. The Nigerian Exchange Ltd.(NGX) ...
BUA Cement has announced a dividend payment of N2 per ordinary share to its registered members during the 8th Annual General Meeting held on August 29, 2024. The company also ratified the appointment and re-election of members to key positions within the organisation. In its recently released second-quarter results for 2024, BUA Cement reported a ...
Soap manufacturer, PZ Cusson has posted a loss after tax of N76.02 billion in the financial year ending 31 May 2024. This is according to the company’s audited financial statement posted on the NGX in which revenues increased by 34 percent to N152.24 billion. According to the disclosure, the company witnessed a reversal of fortunes ...
