Author: Olu Anisere

Conoil and Guinness Nigeria Plc are driving intraday gain in the equities segment of the Nigerian Exchange (NGX) on Thursday, sustaining the latest rally.

Conoil Hits Fresh 52-Week High over Fresh Rally Conoil Plc market value hit a new 52-week high as demand for oil stock increased. Its market value increased by 10% on the day as oil and energy stocks continue to attract investors. The oil stock uptick came as the market began to prepare for the last lap of value hunting ahead of fourth quarter of 2024 earnings festival. The latest rally was driven by investors’ sentiment on expectation that the group earnings will remain uptrend, while the market anticipated sustained dividend payments. Data showed that the company share price has inched…

Crude Oil Prices Rise over Positive Demand Expectations Oil prices jumped higher on Wednesday in the global commodity market due to positive demand expectations in China. The outlook was supported by report on Beijing economic stimulus measures to boost domestic growth amidst risk of higher tariff by the U.S in 2025 Brent climbed to $72.15 per barrel, while the US benchmark West Texas Intermediate also increased to $68.42 per barrel.  The Chinese government held a meeting on Monday to discuss and analyse the economic policies for 2025. At the meeting, a call was made to follow a more active budget…

Aradel Holdings Plc has reached an agreement to acquire 5.14% equity interest in Chappal Energies Mauritius Limited, according to a regulatory filing.

Oil, Banking Stocks Drive Intraday Gain in Equities Market Oil and banking stocks are driving momentum on the Nigerian Exchange (NGX) during intraday trading session. The market is booming now with sharp buying interest from investors taking positions as yearend draws close. Some lightweight stocks share price has gone straight to the mood with some dead cats bouncing as per trading patterns observed during the midday in the equities market. Stockbrokers observe that those banking names that recently shed weight have started to pick up. The same is happening around oil and gas index. At midday, the NGX All Share…

NCAA to Sanction Airline Operators for Delayed Tickets Refund The Nigerian Civil Aviation Authority (NCAA) is ready to sanction any airlines that delay ticket refunds to the passengers. Mr Michael Achimugu, NCAA Director of Public Affairs and Consumer Protection, made this known in a statement on Tuesday in Abuja,. According to him, ticket refund compliance regulations remain central to the NCAA’s consumer protection agenda. He said the time had come for airlines to adhere strictly to the refund timelines, as failure to comply will attract immediate sanctions under Part 19 of the regulations. The director said the Part 19 of…

Selloffs Hit Cryptos Ahead of Microsoft Votes on Bitcoin The global market valuation of all cryptocurrencies declined due to selloff pressure at the beginning of the new week ahead of Microsoft shareholders vote. The global crypto market cap dropped to $3.6 trillion, representing a 2.44% decrease over the last day across exchanges. According to data from the CoinMarketCap.com, the total crypto market volume over the last 24 hours reached $196.83 billion, which makes a 25.51% increase. At the same time, the total volume in DeFi settled at $17.39 billion, accounting for 8.84% of the total crypto market 24-hour volume. Data…

Access, Sterling, Wema Get Hold Rating over Limited Upside Potential Access Holdings Plc, Sterling Financial Holdings, and Wema Bank Plc have been placed on hold rating by Afrinvest Securities Limited due to limited upside potential. “Investors are advised to remain neutral, as the expected total returns are not expected to exceed 10.0% based on the prevailing market price as of the report date,” Afrinvest Securities advised investors. Ranked as one of the weak performers in the banking index, Access Holdings Plc’s year to date settled at 7.1%. Hold ratings mean that analysts at the investment firm have taken a neutral…

Oil Prices Edge Higher as Middle East Peace Relapsed Oil prices edged higher in the global commodities market on Monday as Middle East peace relapsed after ceasefire violations. With the geopolitical tensions, supply risks heightened amidst a negative demand outlook. Over the weekend, Syria ended the 50-year rule of deposed president Bashar al-Assad. Israel has continued assaulting Lebanon despite the ceasefire agreement. At the Dec meeting, the Organisation of Petroleum Exporting Countries and allies producers (OPEC+) agreed to extend the output cut till next year in a bid to keep price level settled. The World Bank had predicted a global…

Dangote Sugar Seeks to Raise N50bn from Debt Market Dangote Sugar Refinery Plc has opened up its commercial paper offerings for subscription from debt capital market investors. The refinery is in the market to raise N50 billion from series 6 and 7 commercial papers under its N150 billion programme. Its series commercial paper with 180-day tenor attracts 24.9889% discount rate, translating to 28.5% implied yield. Series 7 commercial paper with a 270-day tenor attracts a 24.5524% discount rate, translating to a 30% implied yield for investors. According to investment banking firms, the offer is open to the investing public up…