Author: Julius Alagbe

Crude oil prices declined in the global commodities market over supply glut concern, in line with the World Bank’s latest prediction.  In the global market, crude oil prices dropped during early hours as International Energy Agency (IEA) reported a rise in global oil production

Africa’s Global Bank, United Bank for Africa (UBA) Plc, will raise N239.4 billion through a Rights Issue of 6,839,884,274 ordinary shares of 50 kobo each at N35.00 per share.

Oando, BUA Cement Drive Intraday Loss on NGX Sell pressures in Oando Energy and BUA Cement, including banking names like Access Holdings, Zenith Bank, and FBN Holdings, have plunged the Nigerian Exchange (NGX) index lower during the intraday trading session. The selloff experience was basically on stocks, which saw positive price movement, though BUA cement has become a target for sell-side actors in the equities market to take profit amidst unimpressive earnings performance. The market has continued to pullback previous rally carpet underneath Oando Energy after the indigenous oil company released earnings on the Nigerian Exchange and Johannesburg markets. Naira…

Bitcoin price is trading above $90,000 early on Thursday across cryptocurrency exchanges over swinging trading patterns post U.S election victory.  The largest cryptocurrency has since the U.S election gained 30% as retail investors continue to take position on Donald Trump pledge to boost regulation.

Nigeria’s Eurobonds Yield Rises 7bps after U.S Inflation Jumps Average yield on Nigerian Eurobond rose by 7 basis points (bpd) as foreign portfolio investors trimmed down their interest in the international market trading platform as sentiments wane. The portfolio rebalancing started after U.S. inflation surged by 20 basis points to 2.6% in October, sending a mixed signal on Federal Reserve rate cut outlook. In Nigeria’s sovereign Eurobonds segment, the market saw increased sell pressure across the short, mid, and long ends of the yield curve. The trading pattern laced with riskoff sentiment and other market-related uncertainties pushed the average yield…

The naira exchange rate improved in the foreign exchange (FX) market midweek due to improve US dollar liquidity.   According to spot data from the FMDQ platform, the naira appreciated by 2.63%, closing at ₦1,645.40 per US dollar at the official market.

NGX Sees Intraday Gain Banking, Oil Stocks Rally The Nigerian Exchange (NGX) trending positively as buy side equities investors take over trading session on Wednesday. The local bourse has shown sign of gaining, reversing riskoff sentiment seen in the previous day. The market index has climbed by 14 basis points at the time of writing. Stock analysts said this may not be sufficient to calm the negative tempest down but provides a buffer for a positive close on the day. Oando Plc that has been on loss making streak is trading positive and market gain is also supported by positive…

Bitcoin price is back to $88,000 ahead of US consumer price index data today, from $90,000. As a result of this, the global crypto

Bank of Zambia has raised its benchmark lending rate by 50 basis points to 14.00% in a decision announced on Wednesday.

The average yield on Nigerian Treasury bills dipped slightly in the secondary market due to increased demand for naira assets, restricted by tight liquidity which capped trading actions.