Author: Olu Anisere

Kenyan Private Sector Sees Significant Expansion in Oct.– PMI Business activity in the Kenyan private sector expanded markedly in October, according to the latest survey data, as companies highlighted a further improvement in sales intakes amid broader economic strengthening. According to Stanbic IBTC purchasing manager index (PMI) released by S&P Global, rising demand encouraged firms to increase their purchasing activity for the first time since April. The improved economic environment was also supported by a milder increase in business expenses, with input costs rising at the slowest pace in just over a year. The PMI registered in expansion territory for…

NCR Hits 52-Week High after Earnings, Internal Restructuring IT company NCR Nigeria Plc hit its highest valuation in 52 weeks on the Nigerian Exchange (NGX) as investors increased bets in post-earnings release reactions.   Its unaudited financials for the nine-month period in financial year 2025 showed that NCR returned to profitability as the naira stabilised after a sharp depreciation of the local currency damaged performance in the equivalent period in 2024. At the close of the trading session on Friday, NCR share price reached N19.35, its highest in 12 months, as 156.663 units of the company valued at N2.977 million were…

NGX Shrinks to N94.99trn as Equity Investors Lose N2.83trn The Nigerian Exchange (NGX) market capitalisation shrank to N94.99 trillion as equity investors trading highs and lows lost N2.83 trillion in a week. Stock market extended its bearish momentum this week as profit-taking dominated trading sentiment amid a combination of domestic and external headwinds. The benchmark All-Share Index (ASI) fell by 2.99% week-on-week to close at 149,524.81 points, stockbrokers said in separate reports. The slide in market index reflects sustained selling pressure as investors adjusted portfolios in response to geopolitical tensions surrounding the US-Nigeria diplomatic face-off. Market value of listed equities…

Euro Climbs Against Dollar amidst US Data Blackout Recovering from recent price depreciation, Euro US dollar or EURUSD pair climbed on Friday to $1.1567, a key long-term support level. The US dollar weakened against the single currency amidst heated debate over Fed rate cut in December. The Federal Reserve’s latest statement offered little in the way of dovish conviction — policymakers stopped short of committing to another rate cut this year. It dicey what the Fed plans to do after concern raised by Federal Open Market Committee and Jerome Powell hawkish laced tone. Traded favourable for most part of the…

Crypto Market Cap Rises to $3.44trn as Bitcoin, Ethereum Rebound The global crypto market capitalisation rose 3% over the last 24 hours to about $3.44 trillion, according to data from CoinMarketCap.com. The market rebounded from a 7-day decline when it yanked off 6.93% of the valuation of listed digital assets as sector-specific catalysts offset broader caution. The market surged as New AI tools and institutional inflows boosted. Sentiment. Capital rotated into high-beta sectors despite Bitcoin’s stagnation. The Altcoin Season Index (28) remains low, but selective narratives thrived. The market now watches for Sustainability of AI/DeFi volume and Bitcoin’s ability to…

Oil Prices Reduce Week-on-Week as US Dollar Strengthens Oil prices were on track for a weekly decline Friday as weak US demand and a stronger dollar offset support from OPEC+’s decision to pause output hikes and renewed geopolitical tensions in Eastern Europe. International benchmark Brent crude traded at $63.88 per barrel, down from last Friday’s close of $64.57, reflecting a weekly fall of about 1.1%. US benchmark West Texas Intermediate (WTI) was at $60.08 per barrel, compared with $60.69 last week, showing a decrease of around 1%. Concerns over slowing US economic activity pressured prices, with data showing continued weakness…

British Pound Slides as Bank of England Keeps Rate British pounds fell against FX majors as markets reacted to the decision of the Bank of England to keep the policy rate unchanged.  The UK central bank held rates today in a narrow decision, and that has led to some volatility in the pound. GBPUSD fell to $1.305 as BoE voted 5–4 to keep its policy rate unchanged at 4%, noting that consumer price index is judged to have peaked. Notably, four members voted to cut rates by 25 basis points to 3.75%, more than markets had anticipated. The BoE said…

Naira Appreciates to N1436/$ as FX Pressures Ease The naira climbed against the US dollar to N1436 at the official window as pressures from rising FX demand for international payments eased on Thursday. According to updated FX data released by the Central Bank of Nigeria today, the spot fx rate hit an intraday high of N1441, a sharp appreciation from N1446 in the previous day. The local currency hit an intraday low of N1434 per dollar, reflecting the absence of significant demand for US dollar that total supply cannot handle sufficiently at the official window. The official spot FX rate…

EU Clears Way for Ukraine to Join Defence Fund Projects Ukrainian companies will be able to take part in EU-funded defence research and development projects under a provisional agreement reached by negotiators from EU member states and the European Parliament. The Danish EU Council presidency said the agreement links Ukraine to the European Defence Fund, which aims to strengthen the competitiveness, efficiency and innovation of the European Union’s defence sector. The fund has a budget of around 9.5 billion euros (10.9 billion dollars) for the period 2021–27. According to the Danish presidency, negotiators also agreed to expand and simplify the…

Naira Mixed as Nigeria Raises $2.35bn External Loans The Nigerian naira traded on a mixed note across currency markets at the time the country successfully raised a total of $2.35 billion in external loans from the international market. The naira lost at the official window, and the spot rate at the unofficial window improved, and this narrowed the gap between the two markets significantly. The Central Bank of Nigeria (CBN) daily FX indicated that the naira weakened against the U.S. dollar in the official market on Wednesday, depreciating by 0.34% to close at ₦1,438.49/$. The spot rate touched an intraday…