Author: Marketforces Africa

U.S Inflation Eased on Lower Airfares U.S inflation measured by consumer price index slowed more than expected in February. to 2.8%. The consumer price index increased 0.2% after a sharp 0.5% advance in January, according to Bureau of Labor Statistics. Costs pressures eased for the first time in 5-month, amidst President Donald Trump tariffs policy, which threatens to increase prices for Americans. Egg prices, which have soared because an ongoing bout of avian flu is ravaging the industry, rose 10.4% for the month, a cooler reading than the 15.2% increase logged in January. Still, egg prices remain high, up 58.8%…

NEM Insurance Steadies at Fair Discount to 52-Week High NEM Insurance Plc market value has remained steadied in the equities market, trading a a fair discount to its 52-week in the local bourse. The insurer share price hits 52-week high of N14.4 before it pulled back. Analysts said the insurance company stock market price reflects investors’ sentiment, economic trends, and corporate performance. NEM Insurance has demonstrated resilience, with its share price standing firm with market capitalization stands at approximately ₦70.23 billion Over the last trading sessions in the equities market, NEM Insurance has exhibited stability in its pricing, a slight…

Cornerstone Insurance Names Emeka Ogbechie as Non-Executive Director Cornerstone Insurance Plc has officially announced the appointment of Mr. Emeka Anthony Ogbechie non-executive director of the company. This followed resignation of Mr. Steve Iwenjora from the Board with effect from 31st December 2024, which was formally accepted at the Board meeting of 21st October 2024. In a regulatory filling, the insurer said Ogbechie was appointed as a Non-Executive Director by the Board on 21st October 2024 and the appointment took effect on 31st December 2024. His appointment will be ratified at the next Annual General Meeting of the Company. His appointment…

South African Market on Edge Before Budget Shut Down South African markets were on edge on Wednesday as the finance minister prepared to present a revised annual budget. However, local media reports suggested that there was still no agreement between the two largest political parties. At 0830 GMT the rand traded at 18.3475 against the dollar, down more than 0.7% on Tuesday’s closing level. The Johannesburg Stock Exchange’s Top-40 index (.JTOPI), opens new tab was down 0.1% and the benchmark 2030 government bond was marginally weaker. The budget had been the biggest test so far of South Africa’s fractious coalition…

Zenith, GTCO Drive Intraday Gain on Equities Market Zenith Bank, GTCO, and other banking names are currently driving an intraday rally in the equities segment of the Nigerian Exchange (NGX) on Wednesday. The fresh bargain hunting followed weak equities market performance reported yesterday, where profit taking damaged key indicators. Most of the early risers stocks gaining early momentum were priced downward recently, suggesting investors are re-entering positions after spotting upside potentials. Telecom Company stock, MTN Nigeria is among the sectoral indices supporting the intraday uptrend in the local bourse, the same day when the Central Bank is offering a Treasury…

Trump Triggers Demand for Financial Advice First 50 Days U.S President Donald Trump has driven up enquiries by new clients by 20% to a global financial advisory giant in the first 50 days of his second presidency. First, it was to capitalise on the euphoria of the ‘Trump Trade’. Now, it’s concerns over tariffs and economic growth fears. deVere Group, one of the world’s largest independent financial advisory organizations, has recorded a 30% surge in new client enquiries since Trump was sworn in. It attributes this dramatic increase to heightened market volatility caused by abrupt policy swings—first the post-election rally,…

U.S Energy Agency Forecasts Lower Oil Prices in 2025 The US Energy Information Administration (EIA) has revised down Brent crude price forecast for 2025 on the expectation that, production, inventories will increase. In February, the average Brent crude oil price was $75 per barrel, marking a $4 decrease from January and $8 lower than the same time last year. The price decline was largely driven by economic growth concerns tied to potential tariffs from the US and other trade partners, according to the EIA’s Short-Term Energy Outlook (STEO) released late Tuesday. The agency forecasts that global oil markets will remain…

The Nigerian naira fell against the US dollar across the currency markets as demand pressure heated up exchange rates.

Consolidated Hallmark Rises as Insurer Targets Higher Earnings Consolidated Hallmark edges higher as market reacted to the insurance company’s earnings forecast. Ticker: CONHALLPLC climbed to N3.70 per share, marking a 4.57% increase from its last trade. Reflecting mixed investors mood, the insurance stock price fluctuated between N3.43 and N3.95 over the past week. The price positions the stock near the middle of its recent range, reflecting relative stability after a dip to N3.43 on March 6 and a peak of N3.95 on March 4 while today’s trading volume stood at 1,282,499 shares, indicating strong investor interest. According to analysts, the…

Egypt Unlocks $2.4 billion IMF Loans Egypt has unlocked additional loan in the sum of $2.5 billion from the International Monetary Fund, IMF, after successful completion the review of the country’s economic reform. In a statement, IMF said it has completed the fourth review of Egypt’s economic reform program supported by the extended fund facility arrangement. Egypt’s 46-month extended fund facility arrangement was approved on December 16, 2022, according to an official statement. The completion of the fourth review enables the authorities to immediately draw about US$1.2 billion, bringing Egypt’s total purchases under the facility to about US$3.207 billion or…