Author: Julius Alagbe

XRP is up 2.94% to $1.43 in the past 24 hours, significantly outperforming Bitcoin’s …

Dangote Refinery Market Cap Estimated at N77.7trn by CardinalStone CardinalStone Securities has initiated coverage of Dangote Refinery and Petrochemicals FZE, with a market capitalisation estimated at N77.7 trillion. The investment firm set a 12-month target price of N688.09 for the refinery ahead of the initial public offering price of N525 per share. Dangote Refinery’s initial public offering will commence next week at N525 per share, with a target to raise up to N2.2 trillion from the Nigerian capital market. CardinalStone said its valuation implies an expected total return of 39.6%, comprising 31.1% capital appreciation and an 8.5% dividend yield, assuming…

NVIDIA Tokenised bStocks (NVDAB) is down 2.11% over the last 24 hours to $227.23….

SK Hynix Tokenised bStocks is up 4.24% to $187.60 in 24 hours, moving independentl

African Development Bank Group (AfDB) has launched up to USD 5.1 billion response plan to offset energy and fertilizer shocks in African countries

First Bank has renewed its partnership with the Calabar Entertainment Conference…

GCR Affirms AIICO Capital A-/A2 Issuer Ratings, Outlook Positive GCR Ratings (GCR) has affirmed AIICO Capital Limited (AIICO Capital or the group)’s national scale long- and short-term issuer ratings of A-(NG) and A2(NG), respectively. According to the rating note, the outlook was revised from stable to positive. The ratings balance the group’s strong financial profile and parental support against a modest competitive position assessment, while the positive outlook reflects potentially better capitalisation over the outlook period (12 to 18 months), which supports a higher rating band. AIICO Capital’s competitive position is supported by its affiliation with AIICO Insurance Plc, the…

SpaceX Tokenised bStocks Price Dips on Risk-Off Sentiment SpaceX Tokenised bStocks (SPCXB) is down 0.88% to $148.96 in 24 hours, a modest decline closely tracking a broader market pullback. The move is driven mainly by macro risk-off sentiment across crypto, as strong U.S. jobs data raised expectations for a Federal Reserve rate hike. SPCXB’s 0.88% dip aligns with a 1.19% drop in the total crypto market cap and a 1.49% decline in Bitcoin. The catalyst is a stronger-than-expected U.S. August jobs report of 162,000 new jobs, which pushed market-implied odds of a September Fed rate hike near 60%. This macro…

Cardano Price is Down on Renewed Fed Rate Hike Fears Cardano is down 1.59% to $0.217 in 24 hours, closely tracking a broader market dip driven by renewed fears of Federal Reserve rate hikes following strong U.S. jobs data. ADA’s 24h decline of 1.58% nearly matches Bitcoin’s 1.53% drop, indicating a high-beta move. A stronger-than-expected U.S. August jobs report triggered the broader sell-off, reviving fears of a more hawkish Federal Reserve and pushing Treasury yields higher. This macro pressure weighed on rate-sensitive assets like crypto. ADA’s short-term price action remains closely tied to Bitcoin and broader macro sentiment. The U.S.…

South African Rand Firmer Against Dollar on Strong Gold Prices South African Rand held firm against the US dollar and other Western currencies on Tuesday ahead of key economic data to be released by the statistics office. The local unit firmed versus crosses, supported by strong gold prices and recent local corporate earnings, First National Bank (FNB) said in a brief on Tuesday. Meanwhile, local investors remain cautious ahead of today’s 2Q26 GDP release. Against major crosses, the rand is hovering at R15.99 against the dollar, R18.59 to the euro and at R21.65 to the British pound. Supporting the country’s…