Analysts made ‘buy call’ on Zenith, MTN, UBA, FBNH, GTB as trading week opened
Phillip Isakpa
May 13, 2020
Trading in equities on the Nigerian Stock Exchange is already half way gone. While investors, analysts and casual observers must now be anxiously looking forward to what the final indices, including the All-Share Index (ASI), the NSE 30, as well as the different sectoral indices, will post at the close of trading on Friday, analysts […]
CBN lifts suspension on cheque clearing
Businessam StaffApril 29, 2020
The Central Bank of Nigeria (CBN) has directed deposit money banks to attend to customers who wish to clear cheques. In a statement by Sam Okojere, director, banking services department, CBN, the apex bank said that the suspension placed on cheque clearing has been lifted effective April 28. CBN had on March 30, suspended cheque […]
Inflation rate to hit 12.37% in February, analysts predict
Omobayo AzeezMarch 17, 2020
By Omobayo Azeez Experts in the Nigerian capital market have forecast a rise in February inflation rate from 12.13 per cent in the previous month to 12.37 per cent. This shows a possibility of 0.24 per cent point increase in the yet-to-be released consumer purchasing index report by the National Bureau of Statistics (NBS) for […]
Access Bank lists N15bn green bond on LuxSE
Omobayo AzeezMarch 17, 2020
By Omobayo Azeez Access Bank says it has completed the listing of its N15bn green bond on the Luxembourg Stock Exchange (LuxSE). According to the lender in a statement, the green bond comes at 15.50 per cent fixed rate, adding that the unsecured climate-credential green bond marks a major milestone in the development of the […]
NSE may trigger circuit breaker to check stock market plunge
Businessam StaffMarch 4, 2020
There are indications that the Nigerian Stock Exchange (NSE) may trigger its index circuit breaker if the stock market continues to plunge, in order to protect investors. The market, which had started 2020 on positive note, gaining 7.5 per cent in the first month, has remained bearish since the second month, shedding 9.1 per cent. […]
NSE members approve demutualisation resolutions
Businessam StaffMarch 4, 2020
Members of the Nigerian Stock Exchange on Tuesday passed requisite resolutions for the demutualisation of the exchange at a court ordered meeting and an extraordinary general meeting. At the court ordered meeting, members voted and assented to the re-registration of the exchange as Nigerian Exchange Group Plc; the transfer of its securities exchange licence and […]
DMO opens March savings bond offer
Businessam StaffMarch 3, 2020
The Debt Management Office (DMO) yesterday opened offer for the Federal Government of Nigeria’s savings bond for March 2020 with yields lower than what it offered in February. The offer circular showed that it is offering the 2-year FGN savings bond due March11, 2022, at 4.131 per cent, while the 3-year FGN savings bond due […]
Investors lose N208bn as equities opens week on red
Omobayo AzeezMarch 3, 2020
By Omobayo Azeez Investors in Nigeria are still counting their losses at the stock market as the equities segment of the market continued to depreciate in value following a loss of N208 billion recorded on Monday. The loss is blamed on the raging impact of coronavirus that has left the global equities market […]
IHS seeks $7bn from US IPO
Omobayo AzeezFebruary 27, 2020
By Omobayo Azeez with agency report Telecoms tower company IHS has hired banks to oversee what may be the biggest initial public offering (IPO) of an African company in the US, Bloomberg reported citing sources with knowledge of the matter. IHS has selected Citigroup and JPMorgan Chase as global coordinators for a listing […]
Stock market extends downtrend, posts N31bn loss
Businessam StaffFebruary 27, 2020
Transactions in the Nigerian equity market on Wednesday closed negative, as losing streak extended to four consecutive trading days, following sell-off on some high-valued stocks. Consequently, the market breadth closed negative, recording 11 gainers against 16 losers. Meanwhile, the All-Share Index dipped by 58.72 basis points or 0.22 per cent to close at 26,974.38 index […]