Author: Julius Alagbe

Intraday Rally: Zenith Bank, Oando Boost NGX Index The Nigerian Exchange (NGX) is trending positive during the intraday trading session on Wednesday, with investors taking huge positions across sectoral indexes. The stock market index is approaching 17% as investors portfolio value increases sharply on Wednesday in the absence of a midweek Treasury bills auction. The All-Share Index, or market index, has seen an 88 basis point upswing, boosted by sustained interest in financial services stocks, with support from BUA Cement, Oando, and International Breweries. At midday, the NGX All Share Index posted a 0.88% gain, Alpha Morgan Capital Limited told…

Oil Prices Climb on Mixed Demand, Supply Expectations Oil prices climbed on Wednesday over mixed demand and supply expectations in the global commodity market. The ongoing Israel-Iran tensions raised supply concerns, but US inventory data pointed to strong demand. International benchmark Brent crude rose by 0.4%, trading at $67.15 per barrel, up from $66.86 at the previous session’s close. Similarly, US benchmark West Texas Intermediate (WTI) increased by about 0.5%, reaching $65.05 per barrel, compared to $64.72 in the prior session. Israeli Prime Minister Benjamin Netanyahu declared that the 12-day conflict had ended with Iran’s nuclear program being “dismantled,” warning…

Benchmark Yield on FGN Bond Falls after DMO Repriced Rate The average yield on Federal Government of Nigeria (FGN) bond fell in the secondary market as investors sought to fill lost bids at the main auction. Trading activities in the secondary market was influenced by huge lost bids at the primary market auction conducted by the Debt Management Office (DMO) at the beginning of the week. Local bond yields have been in decline as the market caught a low supply signal from Nigeria’s debt office, reflected in its second-quarter circular. Investors who were unsuccessful placed cards on the table with…

MTN Nigeria Delivers 78% Return on Investment Year to Date MTN Nigeria Plc has delivered a 78% return on investment from the beginning of the year to date (YTD), according to stock recommendation data released by Afrinvest Securities Limited. The company’s impressive stock market performance was driven by post first quarter of 2025 earnings reaction in the stock market. Investors confidence heightened in anticipation of better earnings outlook. The telecom company’s share price settled at N355.90 in the equities market on Friday, its latest 52-week high price, which was at a significant distance from its lowest price in the same…

First Holdco Falls as Investors Weigh Bank’s Unremediated Exposures First Holdco Plc’s market value fell by 9.56% over the last seven trading sessions in the equities market as investors exited positions. Investors reacted negatively following the Central Bank (CBN) directive that suspended dividend payments for banks under regulatory forbearance and those in breach of single obligor limits. The Nigerian Exchange’s platform revealed that First Holdco closed at N26.95 on Friday, with trading data showing huge volume executed by investors opening and closing positions on banking stock from N29.8, its peak price in 7 days. First Holdco opened the week at…

GTCO Hits N2.9T as Investors Eye Bank with Unrestricted Dividend GTCO Plc soared on investors’ confidence that pushed its market value to about N2.9 trillion at the close of the trading session on Friday. The financial services holding company’s stock market price surged by 21.3% as foreign and local investors increased their positions, eyeing banking stock with unrestricted dividend payment ahead of second quarter earnings season. The banking index saw intermittent but sharp selloffs last week following a directive that stopped banks with forbearance from paying dividends to shareholders until they are cleared. Data also showed that GTCO has one…

Debt Office to Open New 7-Year Bonds for Subscription The Debt Management Office (DMO) is scheduled to conduct its monthly Federal Government (FGN) Bonds auction on June 23, 2025, with one reopening instrument and a new 7-year issue. Analysts have mixed expectations following the decision of the authority to slash spot rates at the primary market auction conducted last month as the market reacted to disinflation and the monetary policy rate hold decision. Again, inflation eased, and the financial market is flooded with robust liquidity levels, suggesting demand would be strong. This could inform the DMO to cut spot rates…

Naira Rallies, Spot Rate Settles at N1547 on FX Injections The naira appreciated against the US dollar, closing at N1547 per greenback at the Nigeria foreign exchange market (NFEM) as Central Bank (CBN) and foreign portfolio investors (FPIs) drive FX inflows. The domestic currency appreciated at the official market by 26bps to close at N1,547.3636/$, while at the parallel market window, the Naira depreciated by 32bps to settle at N1,585.00/$ FX inflows strengthen with the CBN intervention and FPIs participation. Analysts at Cordros Capital Limited explained that exchange rate was supported by increased supply from FPIs who were looking to…

Vertiv Brings AI Solutions Innovation Roadshow to Lagos Vertiv (NYSE: VRT), a global leader in critical digital infrastructure, has announced that its highly anticipated AI Solutions Innovation Roadshow will make its next stop, this time in Lagos, Nigeria on Thursday 26 June, 2025. The Roadshow, scheduled to take place in Victoria Island, Lagos, is part of a global series of events designed to educate and equip customers and consultants with essential expertise for deploying high-performance computing (HPC) and artificial intelligence (AI) infrastructure. Vertiv experts will introduce the key infrastructure imperatives to enable AI, sharing insights on latest challenges and opportunities…

Benchmark Yield on Nigerian Bonds Falls by 19bps to 18.64% In the secondary market, the Federal Government of Nigeria (FGN) bonds posted modest gains as stable yields across maturities drove the average sovereign yield down by 19 basis points to 18.64%. Investors increased their bets on the naira assets ahead of tight auction scheduled for Monday. The Debt Management Office (DMO) will be conduction bonds auction for June next week, where it will offer N100 billion paper across reopening and new issue. Analysts said it appears the Nigerian government is not looking to fund the 2025 budget deficit with local…