Author: Marketforces Africa

U.S Tariffs Threats Strengthen Dollar against EUR, Sterling U.S tariffs threats boosted demand for dollar in the forex market on Monday with negative impacts on its trading pairs. According to some analysts, the tariffs threat against some countries have provided good reasons to be long USD in February. The combination of wider interest rate differentials and broadening US tariffs are providing continued support to the dollar, ING analyst Chris Turner said in a note on Monday. EUR/GBP is offered again this morning as the market is dominated once more by the tariff story. The market expects the EU to have…

Oil Prices Rise on Increase Threats of U.S Protectionist Policy Oil prices rose as fears of escalating trade war persist in the global commodity market, driven by increase threats of U.S protectionist policy.  The market reacted negatively to U.S government plan to increase tariffs on steel and aluminum. This followed recent retaliatory tariffs by China amidst uncertainties in the overall global economy.   The international benchmark Brent crude rose by 0.7%, trading at $75.04 per barrel. The US benchmark West Texas Intermediate (WTI) increased by 0.7%, reaching $71.37 per barrel, compared to its prior session close of $70.86. Oil prices…

Money Market Rates Tighten as Banks Borrow N4.7Trn from CBN Money market rates increased by at least 3% apiece as banking system faced closed with a huge liquidity deficit.  Funding pressure was loud in the money market in the just concluded, a condition that triggered more borrowings from the Central Bank. As the system continues to allocate the thin funding resources among competing requests, the short term benchmark unterest rates trended higher while cash rich lenders who spotted the opportunity began to demand for higher rates for their funds. In the week, a number of money market analysts reported that…

FBN Holdings Plc climbed by more than 10% in the equities segment of the Nigerian Exchange, NGX, over a fresh rally that lasted for 4 out of five trading sessions last week. According to trading data from the NGX platform, Ticker: FBNH surged to N33 following an unusual volume of shares traded on the equities platform, reflecting its strong liquidity.

Zenith Bank Hits 52-Week High in Fresh Rally Ahead of Earnings Zenith Bank Plc blazed through in the equities market as investors took positions in anticipation of strong earnings results following a successful capital boost ahead of recapitalisation deadline. The bank share price hit a new 52-week high in the equities market as local and foreign portfolio investors ramped up shares in the equities segment of the Nigerian Exchange (NGX) in the just concluded week. The bank with international authorisation has recently surpassed its new capital base of N500 billion requirement by the Central Bank of Nigeria (CBN). Its share…

Fidelity Bank Shareholders Wealth Rises by 125% Ahead of Next Capital Raise Fidelity Bank Plc market value climbed as investors reacted positively to the financial institution’s capital raising programme announcements. Already, new shareholders that picked the bank public offer has gained more than 133% above offer price of N9.75 in June, 2024. Exiting shareholders who also exercise their rights have gained 125%. In a statement, Fidelity Bank Plc announced the successful conclusion of its 2024 public offer and rights issue following the completion of the capital verification exercise conducted by the Central Bank of Nigeria (CBN). The bank also obtained…

Dangote Cement Price Slump Presents 69% Upside Potential – Analysts Dangote Cement Plc is estimated to have strong instinct value that could see the company stock rising by 69% above its market price. In successive selloffs, the cement stock has lost weight and come down from the number one position on the Nigerian Exchange. In the equities market, Dangote Cement Plc slumped to N394 per share as investors’ sentiment waned as a result of pressures facing the company’s earnings. The company, which is now valued at N6.7 trillion, crossed N11.700 trillion last year following huge share acquisitions by billionaire investors…

Nigerian Banking Titans, Others with Dividend Track Records Nigerian banking titans, non-bank financial services companies, and others that have maintained dividend payments over the last five years have been recommended for investors’ picks in 2025. The companies, which include GTCO, UBA, Zenith, ACCESS Holdings Plc, Dangote Cement, United Capital Plc, and others, are expected to continue to pay dividends to shareholders, but at a dividend degree, as historical data revealed. “The listed tickers have December as their year-end, and as such, entry and exit periods is estimated at January-June,” Meristem Securities Limited said in an update. Specifically, the Nigerian top…

Access Holdings Posts Descent Gain amidst Earnings Expectation In the bull market, Access Holdings Plc saw a spike in its share price as investors queued behind the largest banking name in the Nigerian financial services industry ahead of earnings release. The Nigerian equities market continued its upward trend, with the All-Share Index (ASI) climbing 138 basis points week-over-week and exceeding the 105,000-point mark. “If it is okay, an investor would have comfortably made a 7% return on investment in a week if Access Plc was purchased at N26, and it then closed at N28 in five trading sessions in the…

Naira Skids for 5-Day over US Dollar Shortage in FX Market The naira depreciates for five straight trading session in the forex market over tight FX inflows.  According to data from the FMDQ platform, exchange rate depreciated by 0.06% to N1,501.61 per US dollar in the official window on Friday. Pressures increased despite the fact the Central Bank of Nigeria (CBN) conducted FX intervention, selling $60 million to authorised dealer banks. In the parallel market, the naira exchange rate appreciated by 0.32% to N1,565. The sustained exchange rate appreciation in the informal currency market was driven by increase in FX…