Author: Julius Alagbe

GCR Affirms AIICO Capital A-/A2 Issuer Ratings, Outlook Positive GCR Ratings (GCR) has affirmed AIICO Capital Limited (AIICO Capital or the group)’s national scale long- and short-term issuer ratings of A-(NG) and A2(NG), respectively. According to the rating note, the outlook was revised from stable to positive. The ratings balance the group’s strong financial profile and parental support against a modest competitive position assessment, while the positive outlook reflects potentially better capitalisation over the outlook period (12 to 18 months), which supports a higher rating band. AIICO Capital’s competitive position is supported by its affiliation with AIICO Insurance Plc, the…

SpaceX Tokenised bStocks Price Dips on Risk-Off Sentiment SpaceX Tokenised bStocks (SPCXB) is down 0.88% to $148.96 in 24 hours, a modest decline closely tracking a broader market pullback. The move is driven mainly by macro risk-off sentiment across crypto, as strong U.S. jobs data raised expectations for a Federal Reserve rate hike. SPCXB’s 0.88% dip aligns with a 1.19% drop in the total crypto market cap and a 1.49% decline in Bitcoin. The catalyst is a stronger-than-expected U.S. August jobs report of 162,000 new jobs, which pushed market-implied odds of a September Fed rate hike near 60%. This macro…

Cardano Price is Down on Renewed Fed Rate Hike Fears Cardano is down 1.59% to $0.217 in 24 hours, closely tracking a broader market dip driven by renewed fears of Federal Reserve rate hikes following strong U.S. jobs data. ADA’s 24h decline of 1.58% nearly matches Bitcoin’s 1.53% drop, indicating a high-beta move. A stronger-than-expected U.S. August jobs report triggered the broader sell-off, reviving fears of a more hawkish Federal Reserve and pushing Treasury yields higher. This macro pressure weighed on rate-sensitive assets like crypto. ADA’s short-term price action remains closely tied to Bitcoin and broader macro sentiment. The U.S.…

South African Rand Firmer Against Dollar on Strong Gold Prices South African Rand held firm against the US dollar and other Western currencies on Tuesday ahead of key economic data to be released by the statistics office. The local unit firmed versus crosses, supported by strong gold prices and recent local corporate earnings, First National Bank (FNB) said in a brief on Tuesday. Meanwhile, local investors remain cautious ahead of today’s 2Q26 GDP release. Against major crosses, the rand is hovering at R15.99 against the dollar, R18.59 to the euro and at R21.65 to the British pound. Supporting the country’s…

European Markets Mixed as Uncertainty Dampens Risk Appetite European markets delivered mixed performance as political uncertainties and geopolitical pressure constrained risk appetite ahead of the European Central Bank decision later this week. Elevated oil prices continue to keep inflation and interest rate risks at the centre of markets amid recent strikes in the US and Iran, while renewed trade frictions add pressure. The Euro Stoxx 50 closed 0.17% higher as semiconductor strength offset insurance losses, while the FTSE 100 lost 0.08%, with energy gains only partially offset consumer weakness. Asian trading is subdued this morning as caution continues to spread…

Nigerian Stock Market Tops N160trn as Dangote Sugar Lists Shares The equities market capitalisation of the Nigerian Exchange (NGX) increased by more than N1 trillion, driven by new share listings from the Dangote Sugar Refinery rights issue. The stock market opened the new week on a positive note, with key performance indicators showing mixed outcomes. The NGX All-Share Index increased by +0.29%, while the market capitalisation rose by +0.65%. The divergence is attributed to the additional listing of 8,097,918,827 Ordinary Shares of 50 Kobo each at N60.00 Per Share arising from Dangote Sugar Refinery Plc’s Rights Issue of 8,097,918,827 ordinary…

SK Hynix Tokenised bStocks price jumped about 3% to $180.12 over 24 hours…

Meta Tokenised bStocks (METAB) price is down 0.47% to $611.63 in 24 hours, closely…

Ripple (XRP) price is down 1.55% to $1.40 on Monday, underperforming a slightly negative…

Debt Office Opens FGN Savings Bond for Subscription The Debt Management Office (DMO) has opened the Federal Government of Nigeria Savings Bond (FGNSB) offer for September 2026. According to a notice posted by DMO, the authority is offering a 2-Year FGN Savings Bond due on Sept 16, 2028, at a spot rate of 14.12% per annum. Also, a 3-Year FGN Savings Bond due on Sept 16, 2029, at an interest rate of 15.12% per annum will be offered to successful investors. The offer is open and closes on September 11, 2026, with settlement on September 16, 2026. First interest payment…