Author: Julius Alagbe

Oil Climbs on Supply Worries, Trump Tariffs Check Gains Oil prices extended gains on Tuesday amid concerns over Russian and Iranian oil supply and sanctions threats, despite worries that escalating trade tariffs could dampen global economic growth. Brent crude futures were up 98 cents, or 1.3 per cent, at 76.85 dollars a barrel by 1011 GMT, while U.S. West Texas Intermediate crude rose 92 cents or 1.3 dollars to 73.24 dollars. Both contracts posted gains of nearly 2 per cent in the prior session after three weekly losses in a row. PVM oil analyst John Evans said “with the U.S.…

Transcorp, Tier-1 Banks Drive Intraday Gain on NGX Transcorp Plc, and Zenith Bank, UBA and FCMB are among top stocks driving intraday momentum in the equities segment of the Nigerian Exchange, NGX, on Tuesday as investors’ sentiment remains upbeat. The local bourse is trading positive after mixed performance posted yesterday. The new shares listed by Zenith Bank raised equities market capitalisation above N66 trillion, though key index slipped on the day. Reflecting renewed interest in some value stocks, demand has started heating up on the exchange ahead of anticipated consumer price index rebasing. At mid-day, the NGX All Share Index…

British Pound Falls Amidst Hawkish to Dovish Policy Shifts The British pound fell to $1.236, its lowest level in nearly three weeks, after BoE policymaker Catherine Mann stated that weak demand in the UK outweighs inflation risks. The sterling retreated while demand for US dollar picked on the back of tariffs combat threats by the U.S government under Donald Trump. This shift in stance came after Mann transitioned from a hawkish to a dovish position at last week’s meeting. She noted that demand conditions in the UK are “quite a bit weaker” than before, which is dampening consumer spending and…

Dangote Peugeot Begins 3008 GT Assembly in Kaduna The official manufacturer and marketer of the Peugeot brand of vehicles in Nigeria, Dangote Peugeot Automobiles Nigeria Limited (DPAN), has taken another bold step towards regaining its leadership position in the auto market. This time, DPAN has commenced the assembly of the GT model of the wave-making Peugeot 3008, which has hit commercial success and won awards with its different variants in various markets across the world. With its 1.6 litre high performance turbo engine, Peugeot 3008 GT has expanded the existing line-up of vehicles from the assembly lines of the modern…

Interbank rates mixed as liquidity shortfall in the banking system declined following huge inflows from Nigerian bond coupon payments at the beginning of the week.

Zenith Bank Plc market value has crossed N2 trillion in the equities market as the Nigerian top lender listed additional shares

The naira lost N26 on each US dollar to settle at N1,501.61 in the foreign exchange (FX) market due to demand pressures. The market US dollar liquidity shortfall extended throughout the previous, which triggered Central Bank (CBN) intervention in the official window.

Amidst ongoing recapitalisation in the banking sector, the Nigerian top five (5) banks have gained significant weight on the Nigerian Exchange (NGX) amidst valuation attraction, strong earnings, and sustained dividend payments.

Investors Ramp Up Nigerian Bonds Amidst Policy Shift Expectation The Nigerian bonds yield retraced in the secondary market on booming investors’ appetite ahead of February auction, inflation figure, and monetary policy committee meeting.  Investors’ confidence on naira asset remained strong as reflected in increase demand for the local bonds in the secondary market. Last week demand for short and mid-term instruments intensified as investors sought to lock in attractive rates amidst broader economic uncertainties, Cowry Asset Limited said. However, the local bonds market witnessed improved trading volumes, which further reinforcing the bullish sentiment ahead of inflation figure. Bonds trading started…

Nigerian Stocks Foreign Investors Bought in Equities Market Foreign investors made strategic bets on some Nigerian stocks with strong fundamentals and upside potentials. Zenith bank, Fidelity bank, Stanbic IBTC and others were among the stock that attracted offshore attention last week. Other attractive listed stocks for the foreigners in the local bourse last week were Guinness Nigeria, and Okomu Oil Plc. Due to relatively cheap valuation, offshore investors have been betting on Nigerian stocks, especially, financial stocks with good potential. It is no surprise that these stocks posted weekly gain which pushed their respective market valuation higher in the stock…