Author: Marketforces Africa

Nigerian Breweries Acquires Minority Interest in Distell Wines Nigerian Breweries Plc has announced acquisition of minority shares in Distell Wines and Spirits Nigeria Limited for an undisclosed amount. In a regulatory filing, the brewer told the Nigerian Exchange Limited its shareholders, and the investing public that it has acquired the remaining 20% shareholding in Distell Wines and Spirits Nigeria Limited. Nigerian Breweries said the full acquisition follows the execution of a sale and purchase agreement with the DWSN minority shareholders, Ekulo International Limited and Next International Nigeria Limited, which each held a 10% stake in the company. The company expressed…

Oil Prices Fall as Ceasefire Agreement Boosts Hope In the global commodities market, crude oil prices slightly decreased on Wednesday after a US-Russia agreement on a 30-day ceasefire regarding Ukraine’s energy infrastructure. The feat could allow more Russian oil into global markets already wary of a potential supply surplus, according to analysts note. The international benchmark, Brent crude, fell by around 0.07% trading at $70.01 per barrel, down from $70.06 at the previous session’s close. The US benchmark, West Texas Intermediate (WTI) declined by 0.03%, settling at $66.52 per barrel, compared to its prior session close of $66.54. The US…

Sell pressures hit Nigerian government bonds ahead of Treasury bills auction on Wednesday.

NASCON Rises as Investors Take Position After Dividend Notice NASCON Allied Industries (Ticker: NASCON) experienced a significant boost in its stock price, reaching ₦44 per share, marking a 5.9% increase from the previous closing price of ₦41.55. Early in March, NASCON declared a final dividend of N2.00 for every share of 50 kobo, subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on April 16, 2025. But its share has been flattish before it started picking, settling higher by about 6% after more…

Northern Nigeria Flour Mills Climbs by 10% in Fresh Rally Northern Nigeria Flour Mills (NNFM) stock market price experienced a remarkable surge today, climbing 9.99% to ₦79.8 per share. This pushed the miller’s market value to N14.22 billion, trading at fair discount to its 52-week high. The significant price surge on Tuesday boosted its stock’s performance after maintaining a steady price of ₦72.55 over the past trading sessions. Analysts said investors has priced its third quarter of 2025 earnings performance in its market value. The flour miller grew profit to N4.111 billion at the end of third quarter of 2025,…

Bullish vs. Bearish Markets: A Guide for Smart Investors The stock market, a dynamic battlefield where investors constantly weigh optimism against fear, growth against decline, and opportunity against risk. Two fundamental terms dominate market discussions: bullish and bearish trends, and investors often prefer the former as it creates wealth. Understanding these concepts can help investors make informed decisions, maximize profits, and protect their portfolios from unexpected downturns. A bullish market reflects optimism, strong economic conditions, and rising stock prices. Investors who are bullish believe that stocks, sectors, or the overall market will continue to climb, creating opportunities for growth. When…

Naira Falls as FX Interventions Fail to Redirect Spot Rate The naira tumbled against the US dollar across foreign exchange markets on Tuesday despite extended intervention by the Central Bank of Nigeria (CBN). US dollar demand heated up the currency market amidst a 25% decline weekly forex inflows in the official window. The Nigerian foreign exchange market experienced significant demand pressure today despite the Central Bank of Nigeria’s (CBN) intervention, which saw the sale of over $44.75 million at rates between N1,522.70 and N1,531, AIICO Capital Limited said in a note to investors. The US dollar to naira pair fluctuated…

Inflows into FX Market Declines by 25% to $1bn Inflows into the Nigerian foreign exchange (FX) market declined by about 25.4% to $1 billion, according to data released by investment firms. This happened amidst aggressive US dollars sold to banks by the Central Bank of Nigeria (CBN) last week.  The Central Bank increased its weekly FX sales to banks as the naira came under intense pressure on the back of surging demand for the US dollar. Total FX sales increased by $183.20 million on Friday, bringing the total FX sales for the week to $543.20 million, TrustBanc Financial Group Limited…

Selloffs in Banking Names Drag NGX Index Down Intraday Banking stocks have remained profit-taking targets for value hunters on the Nigerian Exchange, NGX, due to weak buying sentiment. All the big banks are tracking lower amidst their 2024 earnings delay. The fast-changing narrative in the financial markets has continued to trigger sell pressures.  The market opened the week negative, and it appears there is no end in sight year as investors reacted to an inflation rate slowed down, exiting positions in banking names. The market has seen investors rebalancing portfolios with more exits than entry despite earnings, and dividend announcements…

Naira Falls to N1528 amidst CBN FX Sales to Banks The naira fell against the US dollar in the foreign exchange market as a result of a foreign currency shortage, first trading session after the Apex Bank intervention.  Reflecting tight FX liquidity, the exchange rate worsened at the official window closing at N1528 per greenback as demand exceeded the supply. Hence, the naira depreciated by 0.66% in the official window, closing at N1,528.03 per dollar. Similarly, the naira ended the day at ₦1,570 per dollar in the parallel market. The local currency had witnessed a last-minute rally on Friday as…