Author: Marketforces Africa

FBN Holdings Spikes as Earnings Boost Investors Sentiment FBN Holdings Plc is tracking higher in terms of market value as investors demand for its shares increased. The price uptick was driven by improved sentiment after the group posted impressive earnings results in 2024. During early trading hours in the local bourse, its share price has already surged by about 7% on the day, with more than 88 million shares traded at N2.6 billion. Ticker: FBNH reached N31.3 in the equities market before trading session for Wednesday close, up by 6.83% from N29.3 at the beginning of the day. FBN Holdings…

Live: Zenith Bank Tracking Higher in Equities Market Zenith Bank iPlc shares continue to gain investors’ attention in the equities market. The financial services company’s sshare price surged during early trading hours due to demand by alpha seekers trading highs and lows. With more than 15 million shares volume valued at N761 million, its share price has surged near N50. This is fairly distant from its 52-week high of N51.45 in the equities market, as the market anticipated the release of its fourth quarter earnings and audited report for 2024. Zenith Bank has seen a huge gain on the back…

Tinubu Approves N80bn for Alau Dam Expansion President Bola Tinubu has approved N80 billion for the reconstruction and expansion of the Alau Dam in Borno. Prof. Joseph Utsev, the Minister of Water Resources, confirmed this during a briefing with State House correspondents following the second FEC meeting of the year on Tuesday. Utsev, also the chairman of the inter-ministerial committee on dams, revealed that the President had approved the rehabilitation of Alau Dam, pending ratification by the FEC. The committee, established on Sept. 23, 2024, includes the ministers of finance, environment, works, information, and the National Security Adviser as members.…

FX Spread Declines over Naira’s Positive Performance FX market: The spread or gap in exchange rates declined further as the naira continued to swing both sides in the official and informal currency markets. On Tuesday, the naira lost N3.35 on each US dollar traded in the official window—the second decline in value this week. This happened after a huge gain over the week and the last two months of favourable exchange rate movement. The FX spot rate on FMDQ was quoted at ₦1,498.95 per greenback in the official market following moderate demand pressures. Analysts said it is more likely to…

Money Market Rates Fall Sharply on Robust Liquidity Funding pressures in the money market declined sharply as significant inflows lifted the banking system deficit to surplus. This reduced banks race to the Central Bank of Nigeria’s (CBN) borrowing window, or the Standing Lending Facility (SLF). The activities at the SLF window had worsened funding rates in the prior day, coupled with the settlement of N1 trillion in OMO bets placed by investors. Reversing the previous trend, the short-term benchmark interest rates eased on Tuesday as liquidity balance in the financial system rose 364% on the day. Banking system liquidity reached…

Naira Slides, Data Shows FX Inflows Reach $871mn The naira slid against the US dollar in the foreign exchange (FX) market on Tuesday due to slight liquidity pressures. The FMDQ FX rate depreciated by 0.22% to N1,498.95 per greenback, marking a second depreciation this week after a strong rally in January. FX amount on the supply side has remained strong, supported by inflows from international oil companies and foreign portfolio investors and exporters’ inflows. Last week, more than 871 million US dollars liqudity stemmed the tide against the naira in the official market. Due to improved confidence, market analysts expect…

NGX Index Rises as Bargain Hunting Boosts Market Cap by N98bn The Nigerian Exchange (NGX) All-Share index rose by 15 basis points on Tuesday as bargain hunting drove market capitalisation higher by about N98 billion. Trading activities closed in green with improved key performance indicators. The surge was driven by increased buying interest in some medium- and large-cap stocks. The NGX All-Share Index grew by 158.05 basis points in today’s trading session, up by 0.15% to close at 104,788.35 points on Tuesday. However, the market activities were mixed as the total volume traded in the local bourse declined by 7.61%,…

Egypt Private Sector Begins 2025 in Growth Mode – S&P The Egyptian non-oil private sector began the year in growth mode, according to the latest S&P Global PMI® survey data, enjoying its best expansion for more than four years as output and sales volumes increased. The first set of results for 2025 marked a notable rebound for the private sector economy, which has recorded a protracted slump for the last few years. Surveyed firms widely signalled that a pick-up in domestic market conditions had driven sales higher, supported by a softening of cost pressures as some material prices fell. This…

Bitcoin, Ethereum climbed as top cryptocurrencies rebounded strongly Tuesday after sell pressures reduced the value of all major assets in the market. Data showed that the global crypto market cap gained, settling at $3.26 trillion, a 6.35% increase over the last day.

Presco, MTN Nigeria, Access Holdings, and FCMB are currently trending positively in the equities segment of the Nigerian Exchange (NGX), according to stockbrokers. Data obtained from the NGX trading platform confirmed the bargain hunting across key segments.