Author: Marketforces Africa

Livestock Feed Soars by 22% on Fresh Rally Livestock Feeds Plc.’s market value soared by more 22% in the equities market due to fresh rally. Its share price reached N110.20 on Friday as more than 2.1 million shares valued at about N21.5 million exchanged hands. The stock maintained positive postures showing investors taking position ahead of first quarter of 2025 earnings release. Transactions on Livestock has been impressive since it returned to profitability. The stock is tracking behind N10.83, its 52-week high on the Nigerian Exchange, a potential buying opportunities for alpha seekers. The positive price movement pushed Livestock Feeds market…

Conoil Declines by 10% on One-off Sell Order Nigerian petroleum marketing company, Conoil Plc, market value declined by 10% in the stock market due to sell pressures. The oil company market value fell N331.2 in the equities market as investors exited positions. This caused Conoil Plc market value to reduce to N22.836 billion, spread over its 693,952,117 shares outstanding on the Nigerian Exchange. Its stock traded steadied until one off transaction that reduced its market value in the last seven trading sessions.  Majority of Conoil shares are held in few hands, which explained its low market activities. Shareholdings details review showed…

Nigerian Exchange Declines by N365bn over Weak Investors’ Sentiment Equities investors lost more little more than N365 billion on Nigerian Exchange, NGX, due to sell pressures seen across indexes. This marked the third consecutive week of negative performance, reaching a four-week low as bearish sentiment triggered sell pressure. The market witnessed sell pressures on MTN Nigeria which lost -4.22% of its market value. Investors priced down OANDO by -7.14% and UBA lost -3.56% of its market value. There was a touch on sell pressure on key stocks as weak sentiment persisted, causing prices to fluctuate significantly amidst earnings release. Investors…

Naira Sees Last Minute Rally as CBN Boost FX Liquidity The naira rebounded against the dominant foreign currency, the US dollar, in last-minute transactions supported by a relatively higher liquidity supply by the monetary authority. The exchange rate appreciated by about 2% to settle at N1,517.93 in the official market on Friday after persistent negative volatile.  Spot FX data obtained showed that the naira gained N29.89 on the day due to FX sales to banks, additional inflows from foreign sources, and reduced demand for foreign payments. Apex Bank FX interventions and inflows from offshore clients and local corporations boosted volume…

‘ReArm Europe’ Plan Would Lower EU’s ‘AAA’ Rating Headroom –Fitch The European Union’s (EU) proposed ‘ReArm Europe’ plan would lower the EU’s rating headroom, mainly because of additional debt at the EU level, but would not, in itself, lead to a rating downgrade, according to Fitch Ratings. “While greater national defence expenditure could affect the ratings of ‘AAA’ rated member states over the medium-term, ReArm Europe would also reconfirm the EU’s policy importance, which is a key rating factor. Fitch said the plan, presented by European Commission President Ursula von der Leyen, includes EUR150 billion of EU defence loans to…

IWD: Unity Bank Commits to Accelerating Action Towards Gender Equality Unity Bank Plc has reaffirmed its commitment to women’s empowerment with a series of high-impact initiatives designed to inspire action toward gender equality and sustainable development. The Bank hosted a webinar with the theme: “Unleashing Women’s Potential,” pivoted by the Unity Bank Women Network as it was marking this year’s International Women’s Day, Being one of the Bank’s thought leadership on self-reliance, opportunity and equity, the webinar featured influential female leaders, including Gbemi Olateru-Olagbegi, a Nigerian entrepreneur and media personality, and Oluwabusayo Adegoke, a certified life coach and Strategy Consultant,…

Bitcoin Rises to $83 as Sell Pressures Ease Global cryptocurrency market capitalisation inched higher slightly as Bitcoin hovered around $83,000 on Friday amidst uncertainties. The crypto market has seen increased pressure from sell-side actors taking quick profit on major digital assets. Bitcoin has seen huge sell pressure, just like Ethereum, Cardano, Dogecoin, and Solana, among others.  BTC-USD has plunged by about 7% in the last seven days, while ETH-USD has lost more than 12% at the same time. CAD-USD has lost 16% of its market cap in seven days, DOGE-USD has lost 15.8%, and SOL-USD is down by more than…

Gold Hits All-Time High over Rising Demand for Safe Haven Gold hit an all-time high in the commodity market as demand for safe haven persisted due to economic concern in the U.S and uncertainty around trade war. On Friday, Gold topped $3,000 per ounce for the first time ever. Tariff concerns that risk higher inflation and slower economic growth are spurring demand for safe-haven assets like gold. ING commodities strategist Ewa Manthey says in a Friday note. Yesterday, US President Donald Trump threatened to impose a 200% tariff on wine, champagne and other alcoholic beverages from France and elsewhere in…

Guinea Insurance Spikes after Earnings Forecast Guinea Insurance Plc gains investors’ attention during early trading session in the equities, up by 8% as about 1.2 million valued at N783,269 exchange hands. The positive reaction followed its latest earnings forecast where the company said it anticipated second quarter of financial year 2025 to print N1.088 billion on gross written premium of N3.5 billion. As investors re-entered position in Guinea Insurance Plc on Friday, its price surged to 68 kobo, a reflecting a strong discount to the company’s 52-week on the Nigerian Exchange. Guinea Insurance is among early gainers driving momentum in…

Sterling Pulls Back as US Dollar Picks Up Against FX Majors Sterling pulled back from uptrend as US dollar picked up against its major trading pairs in the forex markets on Friday. The dollar index, DXY, is back above 104 again as European currencies soften over reduced optimism. The latest reports suggest a US government shutdown this weekend has been averted as the Democrats in the Senate prepare to pass the House bill agreed earlier this week. At the same time, Sterling dipped to $1.29 after fresh data revealed that the UK economy unexpectedly contracted by 0.1% in January, missing…