Author: Julius Alagbe

Greenwich Merchant Bank Ratings Affirmed at BBB+/A2, GCR Revises Outlook GCR Ratings (GCR) has affirmed Greenwich Merchant Bank Limited’s national scale long- and short-term issuer ratings of BBB+(NG) and A2(NG), respectively, with the outlook revised to positive from Stable. According to GCR, Greenwich MB’s ratings reflect the strengths and weaknesses of the newly incorporated Greenwich Holdings Limited, a non-operating entity that houses four subsidiaries: the bank, Greenwich Securities Limited, Greenwich Asset Management Limited, and the newly incorporated Greenwich Capital Market Limited. The rating note acknowledged Greenwich MB as the core operating entity within the group, accounting for 94% of both…

South African Rand Softens as Energy Crisis Stokes Inflation Concerns The South African rand is trading weaker on Monday as the global energy crisis stoked inflation concerns, with expectations of an additional interest rate hike by the Reserve Bank. Oil prices topped $90 per barrel in response to the escalating US-Iran conflict, which is expected to heighten supply risks. In a brief, First National Bank (FNB) disclosed that the rand is trading slightly weaker, citing dampened investor appetite for risk-sensitive assets in the wake of renewed US-Iran strikes. FNB said continued attacks in the Middle East and growing concerns about…

Wall Street Slips, FTSE 100 Climbs Amidst US-Iran Hostilities Global equity markets tightened as US-Iran hostilities dampened investors’ sentiment, with selloffs on Wall Street at the close of the session on Friday. Escalating hostilities between the US and Iran emerged as the dominant overnight market force, driving Brent crude above $90 a barrel for the first time since mid-June. The geopolitical distortions have triggered renewed inflation concerns across global bond and equity markets. Tehran’s declaration that its ceasefire commitments had effectively collapsed, combined with attacks on vessels transiting the Strait of Hormuz and a strike on a Kuwaiti oil facility,…

Ripple (XRP) price is down 0.631% to $1.09 as the token continues to fall back below the line due to sustained outflows linked to exchange-traded funds (EFTs).

The Federal Government of Nigeria (FGN), through the Debt Management Office ….

Ripple (XRP) price is holding flat around $1.09 over the last 24 hours, roughly unchanged on the day

Zenith Bank Plc’s 41.069 billion outstanding shares were valued at N4.681 trillion, 14% below the 52-week high on the Nigerian Exchange (NGX).

First Holdco gained about 39% in the stock market, breaking support to hit a new high on the Nigerian Exchange

Cardano (ADA) price declined slightly by 0.5% to $0.1652, underperforming a slightly positive broader market, primarily driven by a “sell-the-news” reaction to its major network upgrade.

Ripple (XRP) price rebounds from sell pressure, up 0.54% to $1.09, underperforming the broader market’s 0.83% rise and closely following Bitcoin’s +1.19% move, primarily driven by improved macro sentiment that lifted the entire crypto complex.