Author: Olu Anisere

Euro Settles at $1.13 Ahead of Fed Policy Decision The euro held above $1.13, supported by easing trade tensions after U.S. President Donald Trump reiterated that China remains open to a deal. For today, the dollar is weak with the risk mood leaning towards the softer side. S&P 500 futures are down 0.7%, and that’s seeing the dollar down across the board as well. So, those are the more important things to note. Investors also looked ahead to key monetary policy decisions from the Federal Reserve, Bank of England, Norges Bank, and Riksbank. The Fed is widely expected to keep…

Oil Rebounds as China Responds to Trade Talks Oil prices climbed in the global commodity market after China indicated it was open to new trade talks with the United States, fueling optimism of a potential thaw in the prolonged trade war that has unsettled global markets. Brent crude increased by around 0.84%, trading at $62.32 per barrel. US benchmark West Texas Intermediate increased by about 0.86%, settling at $59.25 per barrel, compared to its prior session close of $58.73. China’s Ministry of Commerce said it was evaluating a proposal from Washington for renewed negotiations. The possibility of reopening dialogue helped…

Ecobank Profit Grows by 16.6% in Q1-2025 Ecobank group profit grew by 16.6% year on year to $122.5 million in the first quarter of 2025, according to details obtained from the pan-African banking group unaudited report submitted on Nigerian Exchange platform. Hence, Ecobank earnings per share (EPS) climbed to $0.34 from $0.28 in the comparable period in 2024. Analysts said the strong earnings performance in Q1-2025 was supported by growth in non-interest revenue and net interest income. Gross earnings grew by 2.4% year on year to close at $675.5 million, from $659.9 million in the comparable period. Net interest income…

Euro Retreats as US Dollar Hit 2-Week High The euro retreated to $1.13 on Thursday in the forex market as the US dollar rallied for two weeks on improved trade optimism. The EUR-USD pairs had climbed to $1.15 because forex traders were dumping the greenback as the US disrupted globalisation of trade. According to FX market data, the euro edged toward $1.13 in thin trading on the first day of May, after gaining more than 5% against the U.S. dollar in April. The DXY dollar index rises to a high of 100.0260. This happened as the greenback found support amid…

Oil Prices Slump over Excess Supply Concerns In the global commodity market, crude oil prices fell further on Wednesday, weighed down by demand concerns stemming from the trade war between the world’s two largest oil consumers, the US and China, and growing expectations of a supply glut. Brent crude fell by around 1.09%, trading at $62.31 per barrel. The US benchmark West Texas Intermediate declined by about 1.25%, settling at $59.19 per barrel, compared to its prior session close of $59.94. Both benchmarks fell to their lowest level in four years on April 9, after a sharp drop triggered by…

Nigerian Bonds Yield Steady after DMO Auction Pricing The benchmark yield on Federal Government of Nigeria (FGN) bonds steadied in the secondary market after the Debt Management Official (DMO) monthly primary market auction at the beginning of the week. In the secondary market, Nigerian bonds continued to trade on a calm note, with significant interest seen at the belly of the curve, notably the 2031s and 2033 papers. The 2031 paper was offered at 19.60%, about 20 bps lower on the day, while yields remain stable at the long end, CardinalStone Securities Limited said in a commentary note. At the…

INTBREW Hits New 52-Week High in Non-Stop Rally Beer producer, International Breweries Plc (Ticker: INTBREW) set a new 52-week high in the equities market as the company’s shares continued to gain attention. According to data from the Nigerian Exchange, the share price of International Breweries rose to N8.47 on Monday as 11.249 million shares valued at N93.078 million exchanged ownership. The brewer with more than 96% foreign ownership saw a monster rally last week. Its market value rose by +40% week on week to close at N7.70. The company with highly concentrated shareholding is expected to reverse its loss-making streak…

REA Signs Grants with 9 Companies to Expand Energy Access The Rural Electrification Agency (REA) on Monday signed grant agreements with nine renewable energy companies to provide electricity access to 17.5 million Nigerians. The companies are, Privida Power Limited, Baobab Plus, Salpha Energy, Asolar, NTA-StarTimes, A4&T Power Solutions, Sunking Greenlight Planet, Bboxx, and D.Light. This marks the first signing under the World Bank-funded Distributed Access through Renewable Energy Scale-Up (DARES) project, following its official launch in 2024. “This initiative also contributes to the broader Mission 300, a global effort to deliver energy access to 300 million people in Sub-Saharan Africa…

AFC Appoints Ireti Samuel-Ogbu as Chair, Board of Directors Africa Finance Corporation (AFC) has announced the appointment of Mrs Ireti Samuel-Ogbu as Chair of its Board of Directors. She succeeds Mr. Emeka Emuwa who has completed 12 years of meritorious service to the Corporation. Mrs. Samuel-Ogbu brings a wealth of experience spread over three decades leading and transforming the banking sector in Europe, Middle East, and Africa. Until recently, she led Citi’s institutional businesses in Nigeria and Ghana, with oversight across Banking, Markets and Services. During this period, she steered the franchise through significant macroeconomic and regulatory headwinds, strengthening its…

Oil Prices Fall as China-US Trade Talks Dangle Oil prices fall early on Monday as China shows Beijing is in no hurry to negotiate with the US about the reciprocal tariffs.  The oil market faces a potential glut as members of OPEC+ will pump more crude into the global market officially from May. International benchmark Brent crude fell by around 0.06%, trading at $65.83 per barrel. The US benchmark West Texas Intermediate declined by about 0.13%, reaching $62.85 per barrel, compared to its prior session close of $62.93. US President Donald Trump, in an interview with Time magazine published Friday,…