Author: Olu Anisere

MTN Nigeria Rallies as Investors Bet on Earnings Outlook Racing towards its upgraded target price, MTN Nigeria Plc gained about 5% in the stock market as investors began to raise stakes in anticipation of strong earnings expectations for the fourth quarter. In the stock market, MTN Nigeria share price rose by 4.91% on the day as 2.196 million units of the telecom company shares valued at N1.098 billion were traded on Thursday. This pushed up the market value of the telecommunication company’s 20.995 billion outstanding shares to N10.407 trillion as the market anticipates earnings to act as a fresh catalyst…

U.S. 10-Year Yield Falls Ahead of Treasury Bills Buying The US 10-year Treasury yield fell to around 4.12% following the Federal Reserve’s 25 basis point interest rate cut on Wednesday, the third and last dovish policy for 2025. Yields declined as market react to the monetary authority policy tightening out next year, in contrast to initial expectations before Fed decision. Federal Reserve Chair Jerome Powell’s acknowledgement of a softer labor market quickly put a bid into bonds, reversing the initial selloff of U.S. Treasury and steepening the yield curve. Fed signalled a less hawkish stance than markets anticipated, with Powell…

U.S. Federal Reserve Cuts Rates by 25 bps Again The Federal Reserve ended 2025 with a policy shift that will ripple through every corner of the economy. On December 10, the Federal Open Market Committee (FOMC) cut the federal funds rate by 25 basis points, setting a new target range of 3.50% to 3.75%. The Fed said in a post-action statement that available indicators suggest that economic activity has been expanding at a moderate pace.  The Federal Open Market Committee (FOMC) said job gains have slowed this year, and the unemployment rate has edged up through September. The committee noted…

Foreign Investors Rush African Eurobonds as U.S. Cuts Rate The African Eurobond market closed positively to halt the past two sessions’ profit-taking as the U.S. Federal Reserve cut interest rates by 25 basis points (bps) for the third consecutive time to 3.50%-3.75%. In a fresh search for elevated yields on US dollar-priced bonds, foreign portfolio investors flocked to the African Eurobonds space with interest in oil-linked sovereign issuers like Nigeria, Angola and Ghana, Egypt were among top pick. The action was informed by widening yields gap with US Treasury note following Federal Reserve dovish monetary policy -which may extend in…

“Wahala”: Nigeria Falls to 18th Position in Where to Invest in Africa Nigeria has dropped to 8th position in Rand Merchant Bank’s (RMB) where to invest in Africa index (WTIIA) report for 2025/2026 which offered fresh insights into the continent’s top investment prospects.  RMB said, “The country’s precipitous fall from 9th to 18th in the WTIIA rankings suggests that the term ‘wahala’ has been used liberally over the last year.” WTIIA provides a clear view of the factors shaping each country’s investment landscape, helping investors and policymakers identify where the greatest opportunities for growth and impact lie. “Over the past…

U.S. Energy Agency Raises Crude Oil Price Forecast The U.S. Energy Information Administration (EIA) has revised up its average oil price projections for this year and 2026, taking into account recent developments in global oil markets. In its Short-Term Energy Outlook (STEO) released late Tuesday, the EIA raised its 2025 and 2026 average Brent crude price forecast to $68.91 per barrel, up from $68.76, while West Texas Intermediate (WTI) was revised to $65.32 per barrel from $65.15 For 2026, EIA projects Brent crude to average $55.08 per barrel and WTI to average $51.42 per barrel. In its previous outlook, the…

Fidelity Bank Target Price Raised by 32% with Buy Rating Fidelity Bank Plc’s 12-month target price has been increased by more than 32% by investment firm CardinalStone Securities Limited, according to its equity research report. The bank trades at N19 per share on the Nigerian Exchange (NGX) with a total market capitalisation of N954 billion. The target price was revised to N24.99 from N18.91, implying an exit price to book multiple of 0.9x, according to CardinalStone Securities Limited, a discount to Europe, Middle East and Africa (EMEA) peer average of 1.2x. The price surge was anchored on the expectation that…

Market Liquidity Rises by 32% as CBN Turns Down OMO Bets Money market liquidity spiked by 32% as the Central Bank of Nigeria (CBN) turned down about N1.3 trillion in OMO bills subscription at the open market operation on Tuesday. In separate notes, Broadstreet investment firms reported that intermarket liquidity opened the day with a surplus balance of ₦4.3 trillion, an increase of 32% above the previous day’s close. In absolute terms, AIICO Capital Limited said additional inflows of ₦1 trillion lifted liquidity balance in the financial system from previous session’ level. This was as a result of N1.07 trillion…

Bitcoin Falls by 2% Ahead U.S Fed Interest Rate Decision Bitcoin price (BTCUSD) falls by about 2% in 24 hours ahead of the U.S. Federal Reserve interest-rate decision on Wednesday.  Other top cryptocurrencies are also facing pressure in tight seller market conditions. The Fed is all but certain to cut by 25 basis points Wednesday, so the focus will be on U.S. Fed Chair Jerome Powell’s commentary and hints about the rate path for 2026. A high likelihood of a rate cut lifted cryptocurrencies last week, but in recent days uncertainty over the outlook for further rate cuts has crept…

Non-Bank Corporates Drive Inflow into FX Market, Offshore Bets Ease Non-bank corporates drove FX inflows into the Nigerian market, as data shows that foreign portfolio investment bets shrank amidst year-end exits and book balancing. Foreign exchange inflows through the Nigerian Foreign Exchange Market (NFEM) increased marginally to US$844.70 million, Coronation Merchant Bank research unit reported – tracking below approximately $1.4 billion reported in Oct. The FX inflows posted last week at the official window of the Central Bank of Nigeria (CBN) represent an increase of 4% week on week from US$841.10 million. The miniscule US dollar volume boosts came amidst…