Nigerian Exchange Down by N165bn over Selling Rallies
Losing about N165 billion today, the equities investors in the Nigerian Exchange saw their combined wealth falling for the second day in the week due to weak sentiment. Again, the market performance indicators dropped by 0.44%, resulting in a moderation in the year-to-date return of the Exchange.
Oil Rebounds Ahead of OPEC+ Meeting
Ahead of the Organisation of Petroleum Exporting Countries (OPEC) and allies (OPEC+) rescheduled meeting for Nov. 30, global prices of crude ascended moderately after falling below $80 per barrel.
Adobe, Figma Deal Bad for Innovation- UK Regulator
The United Kingdom (U.K) Competition and Markets Authority said it has provisionally found Adobe's planned $20 billion acquisition of collaboration software company Figma would likely harm innovation for software used by the vast majority of U.K. digital designers.
Banking Stocks, MeCure Drive Midday Rally on NGX
The Nigerian Exchange (NGX) rides on buying waves due to equities investors' improved buying sentiments on Mecure and banking stocks, detail from Alpha Morgan Capital Limited shows.
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Nigerian Exchange Down by N165bn over Selling Rallies
Losing about N165 billion today, the equities investors in the Nigerian Exchange saw their combined wealth falling for the second day in the week due to weak sentiment. Again, the market performance indicators dropped by 0.44%, resulting in a moderation in the year-to-date return of the Exchange.
Oil Rebounds Ahead of OPEC+ Meeting
Ahead of the Organisation of Petroleum Exporting Countries (OPEC) and allies (OPEC+) rescheduled meeting for Nov. 30, global prices of crude ascended moderately after falling below $80 per barrel.
Adobe, Figma Deal Bad for Innovation- UK Regulator
The United Kingdom (U.K) Competition and Markets Authority said it has provisionally found Adobe's planned $20 billion acquisition of collaboration software company Figma would likely harm innovation for software used by the vast majority of U.K. digital designers.
Banking Stocks, MeCure Drive Midday Rally on NGX
The Nigerian Exchange (NGX) rides on buying waves due to equities investors' improved buying sentiments on Mecure and banking stocks, detail from Alpha Morgan Capital Limited shows.
Inside Africa
Ghana Keeps Benchmark Interest Rate at 30%
The Bank of Ghana maintained the status quo on benchmark interest rate at 30.0% as the inflation rate slowed for the third month in a row in October.
Foreign
EU Allocates €1M for Fight Against Diphtheria Outbreak in Nigeria
EU Allocates €1M for Fight Against Diphtheria Outbreak in Nigeria
Analysis
News
Stanbic IBTC Plc Halts Uptrend, Slides by 7%
The share price of Stanbic IBTC Plc declined by 7% to close at N65 on Friday, stock market data shows.
News
Market Upgrades Unity Bank Valuation by 57%
Unity Bank Plc's share price has been gathering energy from increased demand ...
News
MeCure Industries Plc Enjoys Post-Listing Gains
The stock market price of MeCure Industries Plc spiked by 61% to N9.21 in the last five trading sessions
News
Geregu Power Market Value Jumps By 296% in 13-Month
The share price of Geregu Power Plc steadied over the last seven trading sessions in the stock market. .
Latest Business
ECONOMY
Inside Africa
Ghana Keeps Benchmark Interest Rate at 30%
The Bank of Ghana maintained the status quo on benchmark interest rate at 30.0% as the inflation rate slowed for the third month in a row in October.
EU Allocates €1M for Fight Against Diphtheria Outbreak in Nigeria
EU Allocates €1M for Fight Against Diphtheria Outbreak in Nigeria
PPPs Crucial to Bridge Africa’s Infrastructure Gap -Lisinge
Public-private partnerships (PPPs) are crucial to closing the financing gap for infrastructure development in Africa
Investment
Banking Stocks, MeCure Drive Midday Rally on NGX
The Nigerian Exchange (NGX) rides on buying waves due to equities investors' improved buying sentiments on Mecure and banking stocks, detail from Alpha Morgan Capital Limited shows.
Market Capitalisation Slides as UBN Delists from Nigerian Exchange
Nigeria’s stock market opened this week’s trading with bullish sentiments, underpinned by bargain hunting...
Adobe, Figma Deal Bad for Innovation- UK Regulator
The United Kingdom (U.K) Competition and Markets Authority said it has provisionally found Adobe's planned $20 billion acquisition of collaboration software company Figma would likely harm innovation for software used by the vast majority of U.K. digital designers.
Banking Stocks, MeCure Drive Midday Rally on NGX
The Nigerian Exchange (NGX) rides on buying waves due to equities investors' improved buying sentiments on Mecure and banking stocks, detail from Alpha Morgan Capital Limited shows.
Zenith Bank to Open Subsidiary in France
Zenith Bank Plc has signed a Memorandum of Understanding (MoU) with the French Government to establish a subsidiary of Zenith Bank Plc in France, Nigeria’s most capitalised lender said in a statement.
Nigeria Eurobond Yield Rises as FPIs ‘Disengage’
Nigeria’s US dollar bonds benchmark yield rose by 2 basis points over risk-off sentiment exhibited by foreign portfolio investors (FPIs) in the market on Monday.
Financial Products
Access Bank Launches XtraWins Campaign to Reward Customers
Access Bank has launched “XtraWins, Transact and Win” campaign to appreciate its customers and reward them for their loyalty
Equities Investors’ Wealth Rises by N27bn as NGX Rallies
Equities Investors' Wealth Rises by N27bn as NGX Rallies
Fixed Income Investors Dump FGN Bond on Policy Inaction
The average yield on the Federal Government of Nigeria (FGN) bond rose by 8 basis points
Equities Investors See N183bn Gain as NGX Extends Rally -Market Wrap
Market Wrap: Equities investors see about N183 billion gain as Nigerian Exchange (NGX) extends rally....
Foreign Investors Park Cash in Nigeria USD Bonds
Benchmark yield declined as Nigeria's sovereign US dollar bonds gained foreign investors' attention ...
Equities Investors’ Wealth Rises by N146bn as NGX Rebounds
The equities segment of the Nigerian Exchange (NGX) rebounded with about N146 billion gain ....
Stock Market Retreats as Investors Dump BUA Cement, ACCESS
The Nigerian Exchange (NGX) retreated at the beginning of the week as investors took profit ...
NGX Sheds N296bn as Equities Investors Book Profit
The Nigerian Exchange (NGX) shed more than N296 billion on Thursday due to a negative shift in market sentiment.
Nigeria Eurobond Yield Ticks Up Over Sell Pressure
Benchmark yield on Nigeria's US dollar bonds or Eurobond ticked up midweek as foreign investors...
Nigeria’s US Dollar Bond Prices Slump Amidst FX Crisis
The average yield on Nigeria's US dollar bond spiked amidst the foreign currency crisis in the local economy.
FIN MARKET
Oil Rebounds Ahead of OPEC+ Meeting
Ahead of the Organisation of Petroleum Exporting Countries (OPEC) and allies (OPEC+) rescheduled meeting for Nov. 30, global prices of crude ascended moderately after falling below $80 per barrel.
Adobe, Figma Deal Bad for Innovation- UK Regulator
The United Kingdom (U.K) Competition and Markets Authority said it has provisionally found Adobe's planned $20 billion acquisition of collaboration software company Figma would likely harm innovation for software used by the vast majority of U.K. digital designers.
Banking Stocks, MeCure Drive Midday Rally on NGX
The Nigerian Exchange (NGX) rides on buying waves due to equities investors' improved buying sentiments on Mecure and banking stocks, detail from Alpha Morgan Capital Limited shows.
Zenith Bank to Open Subsidiary in France
Zenith Bank Plc has signed a Memorandum of Understanding (MoU) with the French Government to establish a subsidiary of Zenith Bank Plc in France, Nigeria’s most capitalised lender said in a statement.
Nigeria Eurobond Yield Rises as FPIs ‘Disengage’
Nigeria’s US dollar bonds benchmark yield rose by 2 basis points over risk-off sentiment exhibited by foreign portfolio investors (FPIs) in the market on Monday.
Reps Threaten to Hand Over NCAA Management to EFCC Over Missing N43bn Revenue
The House of Representatives has threatened to hand over the management of Nigeria Civil Aviation Authority (NCAA) to Economic and Financial Crimes Commission (EFCC) over alleged missing N43 billion revenue generated in 2022.
It’ll Cost $13.5T to Achieve Carbon Neutral Future – Report
Transitioning to a more sustainable and carbon-neutral future, $13.5 trillion in investments will be needed by 2050, particularly in the production, energy and transport sectors, according to a new World Economic Forum report.
BLOCKCHAIN
Bitcoin Crosses $38K, Ethereum Climbs in Latest Rally
Bitcoin (BTCUSD), the largest crypto on Friday rose to as high as $38,294, a price level considered as loftiest
Bitcoin Retreats after Hitting $38,000 on Crypto Selloffs
The price of Bitcoin has fallen 3% over the past 24 hours to $36,250, retreating from its recent high near $38,000, which marks the largest digital asset's highest level since cryptos plunged into a brutal bear market in May 2022.
Bitcoin, Ethereum Steady After Slight Sell Pressures
Exchange-traded market prices of Bitcoin, Ethereum and other large cryptocurrency moves steadied on Monday ahead of the US economic data release.
Bitcoin Halts Momentum Briefly on Retail Selloffs
The price of Bitcoin shed 3% over the past 24 hours, now trading below $34,400 from about $36,000, its highest level since May 2022. It has since rallied 70% to $34,300. Due to improved sentiment, the most expensive crypto asset has rallied some 30% in weeks.
Market Cap of Cryptocurrencies Declines to $1.5T
The crypto market bled due to large retail selloffs that plunged the combined value of all digital currency...
eNaira Poses No Threat to Financial Stability, Says CBN
The Central Bank of Nigeria (CBN), has assured Nigerians that its digital currency, eNaira posed no threat to financial stability.
Stablecoins to Revolutionise Africa’s Economic Landscape
In an era where financial empowerment is paramount, Africa is witnessing a remarkable surge in the adoption of stablecoins
Bitcoin, Other Crypto Assets Slump on Retail Selloffs
Bitcoin price slowed down by $225.28 or 0.85% to $26,294.47 due to retail selloffs
Binance P2P Announces Automated Payments for Crypto Trades
Binance P2P, a peer-to-peer trading platform, has introduced five new automated payment methods
Bitcoin Hits $26.5K as Digital Assets Rally
Bitcoin and other cryptocurrencies advanced Friday as risk-sensitive assets at large enjoyed gains
Opera Launches MiniPay, Stablecoin Wallet
Opera unveils MiniPay, a blockchain-based wallet built on the Celo blockchain. Directly integrated
Prices of Crypto Assets Fall on Retail Selloffs
Market prices of crypto assets fell on Wednesday due to retail investors selling down amidst global econo
Fintech
Nigeria Fintech Coy Launches App for Diaspora Remittance
A Nigerian-owned Fintech company has concluded plans to launch a mobile app to boost the growth of Small and Medium Enterprise through diaspora remittance.
Fintech
Chipper Cash, Visa Strengthen Partnership Amid Card Funding Glitches
Amidst card funding glitches experienced by its customers, Chipper Cash, a financial services company...
Fintech
Interswitch Loses N30bn to Fraud
Payments infrastructure giant Interswitch faces a financial threat as the company lost a whopping sum of ₦30 billion
Fintech
Alladin Digital Bank Launches Wallet to Ease Payments
Aladdin, a Lagos-based fintech firm, has introduced a pan-African wallet to ease digital transactions.
Fintech
Nigerian Fintech Wynk Offers Wealth Deal to Drivers
A Nigerian fintech, Wynk, is offering a fantastic share ownership scheme that promises a big deal of wealth