Equities market sustains gains, as Dangote Cement lifts ASI

Chris IkosaDecember 6, 2018

The equities market sustained gains recorded from Tuesday’s session as investors embarked on strong rally in  Dangote Cement stocks which rose 2.7 percent Wednesday. This propelled the All Share Index by 0.5 percent and settle at 31,151.68 points. Year-to-date loss also moderated to -18.5%. Investors wealth thus improved as market capitalisation rose by N52.7 billion […]

NSE to hold exchange traded product conference Wednesday

Adesola AfolabiDecember 4, 2018

The Nigerian Stock Exchange (NSE) will Wednesday hold its yearly conference, providing insights to participants and players of the investing community on the various opportunities for creating diversified investment vehicles. The NSE in a statement sent to business a.m on Tuesday noted that this year’s conference aims to address investors, fund managers, regulators, and capital […]

Analysts raise budget implementation concerns

November 27, 2018

Nigeria concluded its highly anticipated Eurobond issue last week Wednesday, raising a total of $2.86 billion, comprising a $1.18 billion 7-year series, $1 billion 12-year series, and $750 million 30-year series, despite the commendable work of the DMO, analyst have said that 2018 budget implementation may not be fundamentally different from historical practice. The robust […]

Wall Street recovers as technology stocks bounce back

November 22, 2018

U.S. stocks recouped some losses on Wednesday after a brutal two-day selloff as strong earnings from Foot Locker and gains in technology stocks lifted investor sentiment ahead of the Thanksgiving holiday. Foot Locker Inc shares surged 15.9 percent after the footwear retailer’s quarterly same-store sales trumped expectations and boosted other sports retailers. Shares of Dick’s […]

Analysts recommend ‘buy’ for May and Baker

November 15, 2018

Following the recent divestment from its non-core operation and a recent right issue, May and Baker looks set to focus on its core business of drug manufacturing and capitalise on the increasing demand for drugs in the country. This has prompted some market analysts to recommend a “buy” advice for the shares of the pharmaceutical […]

NSE offers equities, scholarship funds, tech products as it prepares to announce winners of essay competition

Chris IkosaNovember 14, 2018

The Nigerian Stock Exchange is offering equities, scholarship funds and technology products to potential winners of a national essay writing competition among Nigerian secondary schools as it prepares to announce their names on Friday, 16 November. NSE, the organisers of the competition, in a statement noted that it will recognise the top 10 essays from […]

Stanbic IBTC offers 211.7m shares option for interim cash dividend

Adesola AfolabiSeptember 10, 2018

Stanbic IBTC

The board of directors of Stanbic IBTC Holdings Plc. has announced that the holding company could issue up to 211.7 million ordinary shares of 50 kobo each as scrip dividend shares if shareholders opt to receive their first-half interim dividend in shares. Stanbic IBTC Holdings had mid last month announced an interim dividend of N10.11 […]

Analysts anticipate squeeze in liquidity to pressure treasury bills’ yield

Afolabi OluwaseunSeptember 10, 2018

Financial Markets,Market Rates

Analysts say treasury bills rate would be pressured this week on anticipated squeeze in liquidity this week. This is just as the market closed bearish last week, thanks to strong liquidity-driven demand. “Yields are expected to be pressured, due to anticipated squeeze in liquidity position. We expect the CBN to rollover N136.31 billion worth of […]

Seplat notifies NSE of insider share sale

Adesola AfolabiSeptember 3, 2018

Pursely Resources,

Seplat Petroleum Development Company PLC (Seplat) Friday notified the Nigerian Stock Exchange (NSE) of an insider share deal in a public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. According to the notice, Michael Alexander, a senior independent non-executive director of the company bought 95,238 shares of Seplat Petroleum […]