Year: 2024

The total transactions by foreign investors on the Nigerian Exchange Ltd. (NGX) increased by 28.19 per cent between March and April.

Apex Asset Limited sees heavy returns on banking names, noting that Nigerian banks are trading at close to their support prices. Based on this expectations, analysts/stockbrokers at the firm are expecting Nigerian banks to rally.  

Oil prices traded steady ahead of the OPEC+ meeting scheduled later in the week, when members will determine the group’s production policy along with US data indicating economic growth.

FBN Holdings grew profit by about 316% year on year in the first quarter of 2024, despite pressure from a huge FX loss. Details from its unaudited financial showed that profit after climbed to N208.113 billion from N50.054 billion in the comparable period in 2023.

FCMB Group shareholders will receive a total dividend of N9.901 billion from the financial services company in 2023, following a strong earnings performance.

CardinalStone Securities analysts have raised BUA Foods 12-month target by about 14% to N314.16 per share from N275.76, details from its equity report revealed. Analysts retain hold recommendation, noting that the food company is trading at premium, suggesting that it’s currently overpriced on the Nigerian Exchange at N379.

Fixed interest securities investors trimmed interest in Nigerian government bonds in their portfolios to align with their investment appetite amidst fast changing market dynamics and a widening real return on naira assets.

Dr Chinyere Almona, Director General, Lagos Chamber of Commerce and Industry (LCCI), has described the economy, under the Present Bola Tinubu’s administration

Dr Akinwunmi Adesina, the Group President, African Development Bank (AfDB), said Africa is losing about seven to 15 billion dollars annually to the ravages

The average yield on Nigerian Treasury bills declined as traders in the secondary market ramped up naira assets as preferred options to reduce inflation scotch on wealth.