Author: Marketforces Africa

The global market value of all cryptocurrencies fell sharply as bitcoin (BTC-USD), Ethereum, and other major prices retreated on Monday.

GTCO, Zenith, Access See Early Rally in Equities Market Earnings Expectations, Healthy Fundamentals Boost Interest in Banking Stocks Equities investors in the Nigerian Exchange, NGX, are showing strong interest in banking names. Speaking on rising demand, stockbrokers told MarketForces Africa that banks stocks are liquid, easily convertible for investors who seek to exit positions, and they have strong fundamentals as key economic drivers. According to information from the local bourse, the market began trading activities on a positive note, with banking names driving the uptrend. GTCO, Zenith Bank, Access Holdings, and others have seen early price upticks. Access Holdings is…

Fitch Ratings has downgraded Gabon’s Long-Term Foreign-Currency (LT FC) Issuer Default Rating (IDR) to ‘CCC’ from ‘CCC+, reflecting the country’s heightened liquidity strain, tight local debt market while arrears constrained its official external financing muscle.,

Oil Prices Fall Amidst U.S, Colombia Tariffs Hike Contest Oil prices fell during early trading hours on Monday as the U.S. and Colombian governments engaged in a tariff hike contest. The President Donald Trump administration imposed 25% tariffs on Colombia, which is set to increase to 50% in a week after Colombia refused entry to two US military planes attempting to deport illegal immigrants. Trump is also pushing the Organisation of Petroleum Exporting Countries (OPEC) to cut oil prices amidst sanctions against Russian production and oil flows. The global commodities market have become bearish amidst growing fears of a European…

GTCO Keeps Momentum Tight in Equities Market, Crossed N1.8trn Guaranty Trust Holding Company Plc (GTCO) Plc has crossed N1.8 trillion in the equities market as demand for the Tier-1 banking name spiked ahead of earnings release. Data from the Nigerian Exchange revealed GTCO share price hit a new 52-week high of N61.25 on Friday. The Banking Group share price has been on the rise on a steady basis, breaching resistance all through last week in the local bourse. Its 29.431 billion shares outstanding’s market value climbed above N1.8 trillion as strong share volumes exchange hands in the market, mostly in…

$6.7bn Investment in Nigeria’s Energy Sector in 2024 Commendable -TMV The Tinubu Media Volunteers (TMV), on Sunday, said the 6.7 billion dollars investments in the country’s energy sector in 2024 was commendable. In a statement signed by Mr Chukwudi Enekwechi its Chairman, TMV noted that the investment inflow was a consequence of the incentives introduced by the President Bola Tinubu administration. The group referenced a report titled, ‘Presidency Energy Sector Wrap-up 2024,’ released by Mr Olu Verheijen, the Special Adviser to the President on Energy. “It is also observed that 5.5 billion dollars of the amount was invested in the…

Don’t Invest in Risevest, Stecs Cooperative Societies, SEC Warns The Securities and Exchange Commission (SEC) has warned the public against engaging in any investment-related transactions with Risevest (Victoria Island) Cooperative Multipurpose Society Ltd. and Stecs (Alausa) Multipurpose Cooperative Society. The commission, in a circular issued on Sunday, said that neither of the entities was registered nor authorised to operate in the capital market. “The attention of SEC has been drawn to the activities of Risevest (Victoria Island) Cooperative Multipurpose Society Ltd., which is engaging in capital market activities by inviting the public to invest in its various investment schemes. “Similarly,…

Fidelity Bank Racks Up Gain Ahead of Earnings Results Fidelity Bank PLC racked up gains as the market anticipates the lender would keep earnings growth stronger in 2025. The Tier-2 banking name saw a price uptick on the Nigerian Exchange trading platform as local investors increased their interest in its shares, with steady climbs. In the equities market last week, Fidelity Bank share price settled at N19.10 on Friday, from N17.6 due to healthy trading volumes recorded on the buy side actors. Investors demand for Fidelity Bank in the past seven trading sessions pushed the lender’s market valuation above N611…

Airtel Africa Flatlined in Nigerian Market at N8.1 Trillion Airtel Africa is worth N8.10 trillion in the equities market, according to the latest data obtained from the Nigerian Exchange (NGX). Its share price and, by extension, market value of the telco company have flatlined since last year. The telecom company shares trading activities in the local bourse tempered after share buyback from minority or non-controlling interest shareholders in Nigeria, an approach to stem price volatility. With thin transactions of as low as 50 units in the local bourse, Airtel Africa share price has been static despite positive expectations brought about…

MTN Nigeria Plc share price increased in the equities market as market priced in the latest tariff hike in the industry. On Friday, MTN Nigeria share price settled at N247.90, up by about 6.4% from N233 at the beginning of the week.