Author: Julius Alagbe

Dangote Cement Cancels Treasury Shares, Price Steadies Dangote Cement Plc stock market price steadied at N480 as the company cancelled its repurchased or treasury shares in the equities market today, stockbrokers revealed. Following a successful share buyback program in 2024, the cement company has successfully cancelled its Treasury shares. The cement company had launched a series of share repurchase programs in the recent past years to stem price volatility on the Nigerian Exchange. A total of 166,948,153 Treasury Shares, a portion of previously issued outstanding shares repurchased from shareholders by Dangote Cement Plc, were canceled on the exchange today. Data…

Manchester United Posts $7.80m Net Loss in Q2-2025 Manchester United (MANU) posted $7.80 million as net loss in the second quarter amidst pressure on revenue. Its revenues took a hit from the club taking part in the less lucrative Europa League competition. The Men’s first team reached the round of 16 of both the UEFA Europa League and the FA Cup while the Women’s team reached the Quarter-Finals of the Women’s FA Cup Total revenues declined 12% in the quarter primarily driven by lower Broadcasting revenues, which declined 42.1% to £61.6 million, related to participation in the UEFA Europa League…

BUA Foods, GTCO See Intraday Rally, NGX Index Jumps BUA Foods Plc is driving an intraday rally on the Nigerian Exchange, NGX, following a steep price decline in the recent past. The Nigerian Exchange All Share Index is trending higher due to strong demand for one of the highly capitalised stocks in the market, with support from GTCO. Some banking names are trading relatively mixed, though telecom stocks appeared to have been tucked to a point. Power sector listed companies remained stagnated while the market has halted tempo on Dangote Cement. Geregu Power isn’t moving and is unlikely to move…

Bonds Yield Falls to 20% as Market Reacts to Inflation The average yield on Nigerian government bonds reduced to 20% following buying momentum witnessed in the secondary market. Investors were active in the fixed income market following the release of the Nigeria January 2025 consumer price index reading, analysts at CardinalStone Limited said in an investors’ note. Real return on fixed interest securities has become 3.02% positive on the back of a lower inflation rate of 24.48% , and much higher benchmark interest rate of 27.50% ahead of monetary policy meeting. Nigeria’s headline inflation rate moderated to 24.48% year on…

Interbank rates eased despite a huge liquidity deficit in the banking system totalling more than N1 trillion. The financial system has maintained a negative liquidity profile in the last five days in the money market in the absence of significant inflows.

SEC Moves to Tax Cryptocurrency Transactions in Nigeria The Nigeria Securities and Exchange Commission (SEC) has announced amendments to regulations that will bring cryptocurrency trading and digitised transactions under the formal tax net. According to a Bloomberg report on Tuesday, the SEC confirmed in an emailed statement that the new measures are designed to ensure all eligible transactions on regulated exchanges are taxed, though it did not specify the expected revenue figures. The SEC also revealed plans to expand the scope of crypto licensing, including issuing permits that will allow residents to trade on centralised exchanges. These platforms will enable…

Naira Rises to N1,510 after $181mn FX Sales to Banks The naira rose moderately against the US dollar to settle at N1,510 following Central Bank of Nigeria’s (CBN) FX sales to banks totaling $181 million. According to FX spot data obtained from the FMDQ platform, the naira appreciated by 0.15% in the official window, closing at ₦1,510.33 per US dollar. The positive exchange rate movement suggests favourable condition in the forex market backed by improved US dollar supply. On Friday, the Central Bank of Nigeria (CBN) intervened in the forex market, selling $114.8 million between the rate of ₦1,497.00/$1 –…

Sell Pressures on Tier-1 Banks Drag NGX Down Sell pressures on banking stock caused the Nigerian Exchange (NGX) all share index to decline during early trading session on Tuesday Equities investors reacted negatively to latest inflation data which saw a significant month on month decline by about 10% to 24.48%, from 34.80% in Dec. due to new computation. Stock holders rush to sell down interest in some companies that recently saw significant capital gain. At mid-day, the NGX All Share Index trended negatively, reflecting a loss of -0.17%, Alpha Morgan Capital Limietd told investors in a note. Stockbrokers said the…

Fidelity Bank: Investors Pocket 80% Return on Investment Better than many of its peers, Fidelity Bank Plc returned about 80% on investment to shareholders who hold the shares since 2023, Apel Asset Limited said in a stock recommendation note.  Analysts said every N1 million investment has produced N800,000 in return, ranking the bank as one of the best performers in the segment.  Again, Fidelity Bank has been recommended as one of the banking stock investors should buy this week. In its latest update, Atlass Portfolios Limited envisages 28.88% upside potential as analysts sets fair value of Fidelity Bank Plc at…

The board of directors at PZ Cussons Nigeria Plc. has approved to convert $34 million out of more than $40million debt owed