Author: Marketforces Africa

Bargain Hunting Halts 3-day Losing Streaks, NSE Gains ₦50bn…

Ecobank Nigeria Special Loan for Women: What You Should Know. Ecobank, the Pan-African lender is offering a specially designed loan package that goes for as low as 1% interest rate charge. Is Ecobank joking?

AfDB approves $27.33m for AU’s COVID-19 response initiative…

Analysts Stay Positive on Lafarge WAPCO’s Earnings Recovery. A rather bullish stock pickers at Cowry Asset Management Limited are betting big on Lafarge WAPCO earnings recovery as profit jumps significantly.

FX Scarcity, Policies Choices Could Hurt Nigeria’s Economic Recovery Multiple issues around Foreign exchange lingered despite the monetary policy authority’s multi-tiered exchange rate management stance. However, the outbreak of virus which has damaged economic trajectory worsen the case thus far. The Central Bank of Nigeria’s currency control policy choice is however getting weak due to lower accretion into the external reserves. MarketForces had reported that the CBN has been unable to meet backlog of FX demand, though apex bank said this stands at around $2.5 billion, many investment banking firms indicate backlog range between $5 billion to $7 billion dollar.…

Bullish Party Over as Stock Market Drops Further A total sum of ₦38 billion was knocked off from the equities segment of the Nigerian Stock Exchange Wednesday. The local bourse extended its losing streak for the third consecutive amidst profit takings in some bellwether stocks, including banking sector stocks. Following the renewed bearish moves, market capitalisation dipped to ₦13.263 trillion as against N13.301 trillion on Tuesday. Then, the NSE All-Share Index declined 72.41 points or 0.28% to close at 25,424.91 points. Read Also: Investors gain as NSE indicators rise further by 0.75% Specifically, the decline came due to loses recorded…

PMA: Analysts Predict Heavy Patronage on Account of High Liquidity

FX Scarcity Will Drag Economic Recovery as Nigeria Faces Stagflation

Investors’ Wealth Declines ₦44.3bn as Profit-taking Continues. The Nigerian equities capitalisation again nosedived ₦44.3 billion Tuesday as profit-taking continues despite better-than-expected earnings releases by Tier-1 banks.

Brent Crude Drops to $41.86/Barrel amidst Demand Pressure. Brent Crude price slides again Tuesday due to expectation of lower demand as driving season ends in the United States, one of the largest oil consumers in the world.