Author: Julius Alagbe

Meta platform earnings underperformed analysts’ expectations; its Q2 2026 results showed adjusted earnings per share (EPS) declining 31.5% year on year to $6.18, well below the $8.58 estimated by Bloomberg.

The Nigerian money market rates closed mixed on Wednesday as financial system liquidity declined by 38% on the day due to the settlement of the OMO bills auction.

Presco Declares N10 as Interim Dividend on Weak Earnings Performance Presco Plc has declared an N10 interim dividend per share for the first half of the financial year 2026 amidst weaker earnings performance for the period. In the stock market, the company’s share price closed flat at N2,070 as earnings and dividend announcements diluted investors’ sentiment. The company reported a 7.3% year-on-year decline in Profit After Tax (PAT) to N82.3 billion, underpinned by muted revenue growth, elevated operating costs and a higher effective tax rate. Earnings Per Share (EPS), however, reported a steeper decline of 20.5% YoY to N70.52 due…

Oil prices edged higher on Thursday after US President Donald Trump vowed a “very strong” response to a drone attack on a US-owned LNG tanker in Egypt.

Wema Bank Slides as EPS Moderated by 20% in H1-2026 Wema Bank Plc, a tier-2 Nigerian lender, shed 2.21% of its stock market value amid sell pressure following the first-half 2026 earnings release. This followed investors’ reaction to the bank’s half-year earnings release – with robust top- and bottom-line performance except for moderated earnings per share (EPS). Earnings and investors’ sentiment disconnected, which triggered profit-taking activities in Wema Bank shares. Stock market analysts said there is a strong probability of a rebound as investors weigh their positions. Details from the Nigerian Exchange showed the bank’s share price declined to N30.95…

The U.S. effective tariff rate (ETR) has declined to 7.4% from 9.4% after the U.S. replaced

HBM Nigeria Slides as Investors Sell the Earnings, Dividend News In a sell-the-news reaction, HBM Nigeria Plc lost about 4% of its market value as investors trimmed holdings despite a half-year 2026 earnings beat and an interim dividend. Investors exited positions despite HBM Nigeria reporting a 57.0% year-on-year increase in earnings per share to N12.93. The cement company’s earnings growth was driven by revenue expansion that outpaced cost increases, further supported by a sharp increase in net finance income. The company fell from its 52-week high of N389.90 per share to N375.10 as 8.631 million units valued at N3.240 billion…

The Nigerian naira softened against the US dollar at the official FX window, with data showing a sharp decline in interbank turnover over the past 24 hours.

GCR Ratings has upgraded Lagos State Government’s national scale long-term issuer rating to AA(NG) from AA-(NG) and affirmed its national scale short-term issuer rating at A1+(NG).

The Nigerian Exchange (NGX) All-Share Index (ASI) declined as equities investors lost about N648 billion, reversing the previous day’s rebound.