- U.S. Dollar Index Slips Ahead of Key Economic Data
- 10-Year U.S. Treasury Yield Hovers Below 5%
- Nigeria Money Market Braces for ₦800bn Treasury Bills Auction
- Excess Liquidity in Banking System Rises to N6.94trn, Rates Mixed
- Fitch Affirms Ireland at ‘AA’ Rating with Stable Outlook
- DMO Raises N2trn from Bonds to Fund Nigeria’s Budget Deficit
- XRP Rises as Investors in Korean Markets Bet on Altcoins
- NVIDIA Tokenised Stock Rises on Fresh Buying Momentum
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.
China’s Foreign Exchange Reserves Drop to $3.2024 Trillion China’s foreign exchange reserves totalled 3.2024 trillion U.S. dollars at the end of December 2024, down by 63.5 billion dollars, or 1.94 percent, compared to the end of November last year, official data showed Tuesday. The decline in foreign reserves was the lowest in eight months, from $3.26 trillion in November and below expectations of $3.25 trillion. The drop comes amid a strengthening US dollar. The yuan weakened by 1.2% while the dollar gained 2.6% against major currencies. The State Administration of Foreign Exchange said in a statement that the U.S. dollar…
Investors Boost Treasury Bills Holdings Ahead of Auction The average yield on Nigerian Treasury bills slumped slightly in the secondary market due to buying interest ahead of the primary market auction (PMA) scheduled for Wednesday. Trading activities opened on a calm note with a bullish tilt. Fixed income market participants leveraged improved liquidity in the money market to boost portfolios. Traders said despite the sizeable amount in the financial system, money market managers maintained a cautious stance in anticipation of the upcoming T-Bills auction. Bids came in from investors expecting a decline in yields at the next auction, as well…
Bitcoin Rises Near $102,000, other Digital Assets Rally The bitcoin price has climbed near the $102,000 level in a fresh rally that started in the New Year ahead of Donald Trump’s, U.S. President elect, inauguration. The latest rally appears all-encompassing as all the top digital assets gained traction. The top 10 cryptocurrencies assets across cryptos exchange were making an uptrend that could lift their individual market price higher in the absence of profit-taking activities from retail investors. Consequently, the global crypto market cap has advanced to $3.59 trillion on Tuesday, representing a 1.83% increase over the last day as volume…
The Nigerian naira fell against the US dollar in the foreign exchange (FX) market as demand pressure began to take shape. Spot FX data from the FMDQ platform
The naira traded at N1535 per US dollar in the Nigerian foreign exchange market, NFEM, on Friday after year-end aggressive FX sales
Nigeria’s top five banks that need no introduction have extended their market value due to investors’ position taking in tier-1 stocks. Details gathered by MarketForces Africa showed that the combined market value of the top five banks surged past N6.2 trillion in the local bourse on Friday close.
Prestige Assurance Hits 52-Week High as Shares Gain Attention Investors on the Nigerian Exchange (NGX) priced Prestige Assurance Plc higher by 46% as the Insurance Index drove the equities market performance. The Assurance services company share price rose from N1 to N1.46 in the equities market over renewed interest from investors trading highs and lows. Due to strong demand for the stock, its market value increased strongly to settle at N19.348 billion, spread on its 13.252 billion shares outstanding amidst industry recapitalisation move. The Assurance company profit after tax settled at N2.402 billion at the end of 9-month of financial…
Telecommunications giant MTN Nigeria Plc is among the top stocks that topped the losers chart in 2024, according to details obtained from the Nigerian Exchange (NGX) equities trading segment.
Oando Names Ademola Akinrele Board Chair as Oba Gbadebo Resigns Oando Plc has announced the appointment of Ademola Akinrele, SAN, as its board chair following the resignation of His Royal Majesty, Oba Adedotun Gbadebo, CFR, the Alake of Egbaland. In a regulatory filing, Oando told the Nigerian Exchange that Oba Gbadebo notified the board of his decision to step down as chairman and retire as a board member of the company. His resignation took effect immediately following the conclusion of the Annual General Meeting (AGM) held on December 17, 2024. The oil company told the Exchange that Oba Gbadebo served…
Market capitalisation of all cryptocurrencies jump by more than 3% in the last 24 hours as bitcoin price crossed $98,000 again