Nigeria’s equities market retreats, as ASI dips 0.82%
Adesola Afolabi
December 10, 2018
The first trading day of the week at Nigeria’s equities market ended on a negative note with depreciation recorded across all major sectors, dragging the All Share Index (ASI) 0.82 percent down as investors began taking profit. The consumer goods index declined the most, down 2.3 percent following sell pressures in Nestle (-4.1%), Nigerian Breweries […]
Nigeria SEC takes e-Dividend campaign to South East
Businessam StaffDecember 4, 2018
The Securities and Exchange Commission (SEC) south east zonal office is to commence a sensitisation programme on the process and benefits of e-Dividend, multiple subscription, e-processes and other contemporary issues in the Nigerian capital market. The programme will take the form of town hall meetings with stakeholders and the general public The SEC said the […]
Wall Street recovers on anticipated hopes of trade truce, Powell’s speech in focus
Businessam StaffNovember 28, 2018
U.S. stocks gained on Wednesday on hopes of a trade truce between the United States and China at the upcoming G20 Summit, while investors looked forward to Fed Chairman Jerome Powell’s speech for clues on the path of interest rate hikes. Though President Donald Trump talked tough ahead of a high-stakes upcoming meeting with China’s […]
Rate hike on card as monetary committee meets
Moses ObajemuNovember 14, 2018
The) of the Central Bank of Nigeria (CBN) is to meet on Monday and Tuesday next week to consider key macro economic indices and other monetary policy issues ahead of the general elections next year. Informed industry sources say the Monetary Polic Rate (MPR) may be reviewed upward from the present 14 percent. The MPR […]
SEC to roll out regulations guiding capital market Fintech products – Uduk
Adesola AfolabiSeptember 12, 2018
In its desire to transition towards a technology driven capital market as well as protect investors, the Securities and Exchange Commission, SEC, has said that the Commission would soon come out with regulations that would guide such products in the capital market. Mary Uduk, acting director general of SEC disclosed this Wednesday during the presentation […]
SEC confirms discussions with MTN Group on $500m initial public offering
Businessam StaffApril 25, 2018
The Securities and Exchange Commission (SEC) Wednesday confirmed it was in discussions with MTN Group on the company’s planned $500 million initial public offering (IPO), bringing to a close speculations that the telecoms company was yet to make a move on listing its shares on the Nigerian Stock Exchange (NSE). According to a News Agency […]
Bullish outlook seen for SSA private equity investments as consumer-focused sector to gain most
Businessam StaffFebruary 11, 2018
Consumer-focused sectors, which include food and beverages, healthcare and pharmaceuticals, agriculture and agribusiness, as well as financial services, rank among the top PE sector focus areas in Africa, with West and East Africa taking the lead, according to the 2017 Deloitte Africa Private Equity Confidence Survey. Both the IMF economic growth projections as well as […]
Corporate profits growth, benign default outlook may offset higher interest rates in 2018 – Moody’s
Businessam StaffJanuary 5, 2018
Moody’s Capital Markets Research Inc. has predicted a climb in global interest rates in 2018 but said that interest-rate inspired declines by the broad equity indices may be shallow on account of growth in corporate earnings and benign corporate defaults. “Though benchmark interest rates are likely to climb higher, the combination of corporate earnings growth […]
Lafarge targets N131.65bn via rights issue of 3.1bn shares
Businessam StaffDecember 4, 2017
Lafarge Africa Plc is set to raise N131.65 billion from its existing shareholders by offering a total of 3,097,653,023 new ordinary shares at N42.50 kobo per share, based on a ratio of five new ordinary shares for every nine held. The issue price represents a discount of approximately 17.5 percent to the closing price of […]
U.S. dollar, bond yields climb, with focus on Fed
Businessam StaffJuly 24, 2017
The U.S. dollar rose from its lowest level in more than a year and U.S. Treasury yields climbed on Monday as investors braced for news from this week’s U.S. central bank meeting and possible hints on when the next interest rate hike is coming. Further developments in Washington, including on U.S. President Donald Trump’s inner […]