Author: Julius Alagbe

Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

South African Rand Steadies Amid Weaker Q2 GDP Data

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South African Rand Steadies Amid Weaker Q2 GDP Data The South African rand traded sideways as the country’s economic data showed a contrasting picture amid a worsening global energy crisis. The local unit hovered around R15.99 per dollar, R18.60 per euro and R21.67 against the British pound on Wednesday, as weaker-than-expected Q2 Gross Domestic Product (GDP) data and ongoing Middle East tensions weighed on sentiment. Rising yellow metal prices and a weaker US dollar shielded the rand from significant sell-offs. Gold has climbed marginally to $4 355/ounce, as surging oil prices fuelled inflation concerns and strengthened expectations of further US…

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Global Equities Markets Mixed Ahead of ECB Rate Decision

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Global Equities Markets Mixed Ahead of ECB Rate Decision Global equities markets were mixed ahead of the European Central Bank (ECB) decision on the policy rate this week, amid rising energy costs due to the Middle East conflict. Surging oil prices tightened financial conditions across markets, fuelling inflation concerns and reinforcing expectations that interest rates may remain elevated for longer. Wall Street bore the brunt as investors awaited key inflation data, with the Dow Jones closing 1.18% lower, the S&P 500 losing 0.58% and the NASDAQ ending the session down 0.32%, as credit-sensitive tech stocks weakened, a stockbroking and portfolio…

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Dangote Refinery Market Cap Estimated at N77.7trn by CardinalStone

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Dangote Refinery Market Cap Estimated at N77.7trn by CardinalStone CardinalStone Securities has initiated coverage of Dangote Refinery and Petrochemicals FZE, with a market capitalisation estimated at N77.7 trillion. The investment firm set a 12-month target price of N688.09 for the refinery ahead of the initial public offering price of N525 per share. Dangote Refinery’s initial public offering will commence next week at N525 per share, with a target to raise up to N2.2 trillion from the Nigerian capital market. CardinalStone said its valuation implies an expected total return of 39.6%, comprising 31.1% capital appreciation and an 8.5% dividend yield, assuming…

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