Author: Marketforces Africa

Primary Market Auction: Analysts Expect CBN to Keep Rates Depress. Analysts at Meristem Securities have said that due to the recent policy rate cut, the firm is expecting the Central Bank of Nigeria to keep rates depress across market.

₦150 Billion FGN Bonds to Open for Subscription June 17. Investors with interest in fixed interest income financial instrument can buy the Federal Government 5-year Bond at 12.75%.

FMDQ admits Dangote Cement’s ₦100 billion Commercial Paper. FMDQ Securities Exchange Limited on Tuesday announced the admission of Dangote Cement ₦100 billion Commercial Paper (CP) on its platform.

AXA Mansard: Analysts Bullish on Earnings, Upgrade Price Target. AXA Mansard Plc have been trading flat since first day in June on the floor of the Nigerian Stock Exchange. At the close of trading session yesterday, it share price was ₦1.85.

Wema Bank to Reopen Branches Nationwide – Official. Due to the Federal Government’s directive to ease the nationwide restrictions on movement and key businesses, Wema Bank Plc will reopen all its branches nationwide.

AfDB approves $288.5m for Nigeria COVID-19 Response Support Programme

The Board of Directors of the African Development Bank has approved 288.5 million dollars loan to help Nigeria tackle the COVID-19 pandemic and mitigate its impact on people and businesses.

OPEC+ set for talks on extending oil reduction deal. The Organisation of the Petroleum Exporting Countries (OPEC) and allied oil producers are scheduled to conduct negotiations on Saturday, Russia’s Energy Ministry and sources in Vienna said.

AfDB board authorises independent body to review ethics committee report. The Bureau of the Boards of Governors of the African Development Bank (AfDB) has authorised an independent review of the report of ethics committee of the boards of the Directors and submission made by Dr. Akinwumi Adesina, President of the bank.

Analysts Downgrade Dangote Sugar to Hold, Cite Pressure on Margin. In the first quarter (Q1) of 2020, Dangote Sugar Refinery Plc (DANGSUGAR) recorded an improved sales across regions. At the current price of ₦15 to a share, DANGSUGAR’s market capitalisation, the amount investors placed ₦180 billion on the company yesterday.

Nigeria records 350 new cases of COVID-19, totaling 11,516. The Nigeria Centre for Disease Control announced on Thursday that it recorded 350 new confirmed cases of COVID-19, bringing the total number in the country to 11,516.