Author: Marketforces Africa

Guinness Nigeria’s Profit Estimated to Drop by 86%, Downgrade to Sell. Guinness Nigeria Plc. is facing a very tough time, the brewer’s profit is projected to drop by 86% in 2020 as investment firm advised investors to dump the stock to avoid losing value.

Oil rises after bigger-than-expected drop in U.S. inventories

African Trade Insurance: President Buhari finalises Nigeria’s membership President Muhammadu Buhari has signed the instrument of ratification to the African Trade Insurance Agency’s (ATI) treaty. Membership in ATI provides African countries with additional trade and investment insurance capacity, which helps cushion against the negative economic impacts of COVID-19. Sherry Kennedy, the agency Senior Communication Officer made this known in a statement on Wednesday. The statement reads that the country joins ahead of others that are fast-tracking membership given the trade and investment insurance challenges during the COVID-19 pandemic and also recognizing the potential post pandemic opportunities. Read Also: “This finalises…

Neimeth Plc: Analysts Advised Investors to Sell despite Enhanced Profitability WSTC Securities Limited has advised investors to offload Neimeth Pharmaceutical Plc stock, though the firm recognised the company’s enhanced profitability. Despite the sell recommendation, analysts stated that they remain optimistic of the growth prospects of the company. The investment firm said it arrived at a fair value of N1.26 which implies a justified price earnings of 6.17x, though the stock currently trades at a price earnings ratio of 9.04x. In the recently released Q3’20 ended June 30, 2020 results, Neimeth declared a strong topline and bottomline growth. The company’s revenue…

Conoil Stock Rated “Neutral, Analysts Estimate ₦17.2 Price Target

Investors’ Fortune drops by ₦75.1 Billion as All-Share Index Dips. Investors’ fortune drops by ₦75.1 billion as the Nigerian Stock Exchange (NSE) All-Shares Index Dip on Tuesday.

Sell-offs in DANGCEM (-4.1%), ACCESS (-0.8%) and MANSARD (-8.2%) dragged the All-Share Index down 58 basis points (bps) to

ASCON Oil: No Court Order Was Granted, Stanbic IBTC Rebuts Claim

NB Plc: Equity Analysts Cut Profit Estimate for 2020 By 57%. Equity analysts have cut Nigerian Breweries Plc profit for 2020 by 57% due to disappointing first half performance scorecard and low expectation on sales recovery.

FirstMonie: Our DNA Gives Us Advantage in Agent Banking – FirstBank

CBN Attains Convergence around Multiple Foreign Exchange Rates