Author: Marketforces Africa

Honeywell Flour Mills Sees Early Price Surge of 10% Honeywell Flour Mills Plc experienced a strong price surge of about 10% on Friday, stock trading details from the Nigerian Exchange shows. In the last trading round this week, the consumer goods stock price has surged from ₦12.25 to ₦13.45. This represents a 9.8% increase in just a short span, sparking investor interest in the stock’s recent momentum. Honeywell Flour Mills closed at ₦12.25 yesterday, following a dip from its previous highs earlier in the week. However, in the days that followed, the stock experienced a sharp rebound as stock traders…

Airtel Africa, Mastercard Launch Virtual Payment Card Airtel Africa has partnered with Mastercard to launch the Airtel Money GlobalPay Card, a new solution connecting customers across Africa with global online marketplaces. The Chief Executive Officer of Airtel Money, Ian Ferrao, confirmed this in a statement. He said the collaboration with Mastercard would empower Airtel’s 150 million mobile users in 14 African countries by providing access to Mastercard’s global merchant network for secure international transactions. According to Ferrao, the Airtel Money GlobalPay Card is a virtual (non-plastic) payment solution linked directly to Airtel Money wallets. He noted that the card could…

Oil Prices Rise Amidst Supply Concerns, U.S Policy Uncertainty Oil prices rebounded but are still trading below the $70 level in the global commodity market as a result of concerns over supply following Iran and Russian sanctions. Also, uncertainties over US tariffs and OPEC+ output plans weighed on the market, stoking fears of economic disruption. Meanwhile, US Treasury Secretary Scott Bessent doubled down on strict sanctions against Russia and Iran’s energy sectors, underscoring Washington’s push for maximum pressure to shape geopolitical outcomes. International benchmark Brent crude gained 0.27%, trading at $69.39 per barrel at 09.36 am local time (0636GMT), up…

Naira Depreciates as Offshore Investors Upstream FX The naira dribbled backward against the US dollar in the foreign exchange market as FX demand surged. Exchange rate volatility has been negative since last week when the Central Bank of Nigeria (CBN) embarked on intervention holidays. With fast-rising demand for the US dollar, the naira came under pressure, closing in red three times in the week.   In its note, investment firm AIICO Capital Limited revealed the local currency faced pressures due to increased demand from certain offshore investors. An undisclosed amount of US dollars was demanded for upstream abroad. Analysts said foreign…

Cadbury Nigeria Slightly as Investors Increase Positions Cadbury Nigeria Plc has been an active player in the Nigerian stock market, experiencing price fluctuations over the last trading days. Market value of the company inched higher to N57 billion amidst tough operating conditions facing consumer goods players.  According to data from the Nigerian Exchange Group (NGX), there is a slight recovery in its stock price, rising from NGN24.3 on March 5, 2025, to NGN25 on March 6, 2025. This 2.88% increase comes after a period of decline, signalling renewed investor interest. However, despite this price movement, the stock holds significant growth…

Ponzi Scheme Victims in Nigeria Mostly Women – SEC DG The Securities and Exchange Commission (SEC) says victims of Ponzi schemes in the country were mostly women. Dr Emomotimi Agama, Director-General, SEC, said this on Thursday in Abuja, at an event to mark the International Women’s Day (IWD) celebration organised by the commission. Agama said that there was therefore the need to educate and empower women to make informed decisions and create wealth in the capital market. According to him women make up the commodities market. We want to make sure that we provide an avenue and a platform where…

NGX Rebounds with N216bn Gain as Investors Re-Enter Positions Equities investors gained about N216 billion as the Nigerian Exchange (NGX) recovered from sell pressures that held down market capitalisation, and other key metrics. The local bourse snapped its recent losing streaks on Thursday as investors’ re-entered positions where they had previously exited. Data from the local bourse revealed that key market performance indicators rose by 0.32%, with year-to-date returns advancing after successive downward trends. The market saw bargain hunting in some recently depreciated medium- and large-cap stocks. These include interest in TRANSCORP, AFRIPRUD, GUINNESS, and others, driving market recovery and…

Access Plc. Tracks Lower Amidst Strong Trading Volume Access Holdings share price is tracking lower at ₦23.5 in the equities market, reflecting a decrease of 2.08% from the previous trading day’s closing price of ₦24 amidst strong trading volume. During early trading hour in the equities segment of the Nigerian Exchange on Thursday, the banking stock has lost 208 basis points of its market value as more than 26 million shares valued at more than N616 million have already exchanged hands in the local bourse. The financial services group’s share has experienced fluctuations, reaching a high of ₦25.7 on February…

Zenith Bank: Analysts See Upside Potential Ahead of Earnings, Dividend Zenith Bank Plc, continues to demonstrate strong market performance and growth potential. According to data from the Nigerian Exchange, Zenith Bank is about N2 trillion in market value. With its stock currently trading at ₦47 per share, the bank remains an interesting investment opportunity due to its attractive valuation. This explains why some foreign portfolio investors continue to hunt after the Ajose Adeogun-based financial services group’s share in the equities market. Ahead of the 2024 earnings release,  the bank share price has remained relatively stable, fluctuating between ₦47 and ₦48.35…

Seplat Energy Flattish Despite Bumper Earnings, Special Dividend Seplat Energy Plc steadied in the equities at N5,700 per share as investors failed to react to the company’s bumper earnings harvest and proposed dividend for 2024. Its high market price and low outstanding shares in the market effectively blocked retail investors. Stockbrokers practically ignored all the enticements, with a 10% increase in dividend payment and special dividend following integration of Mobil acquisition. For financial year 2024, the board declared total dividend declared for 2024 increase to US$ 16.5c, up by 10% on 2023. The oil stock traded steady on tiny market…