Author: Marketforces Africa

PZ Cussons Plc saw 14% positive price appreciation on the Nigerian Exchange (NGX) ahead of the board meeting.

Successive price upticks registered by Conoil have lifted its shareholders wealth significantly in December 2024.

MTN Nigeria Plc has successfully raised additional N72.18 billion from commercial paper sales to investors in the debt capital market. This is in addition to N75 billion earlier raised in the market last month.

African Prudential Plc hit 52-week high on the Nigerian Exchange (NGX) as the company’ stock gained popularity among alpha seekers looking for growth

Aradel Holdings Surges by 18.3% on Acquisition Notice Integrated energy Company, Aradel Holdings Plc. gained equities investors’ attention on the Nigerian Exchange (NGX) as the oil company announced acquisition of shares in Chappal Energies. The market reacted positively to Aradel Holdings with an increased demand for oil stock due to expectations of an improved earnings performance. Its share price rose by N85, or 18.28% to N550 at the end of trading session on Nigerian Exchange platform on Friday, from N465 at the beginning of the week. The latest rally nudged Aradel Holdings market value to N2.389 trillion, spread over its…

Nigerian Exchange Grows by N708bn to N60.24trn The Nigerian Exchange (NGX) grew by about N708 billion on the back of the latest demand surge ahead of fourth quarter earnings releases. The domestic bourse closed the week higher as the benchmark index posted a 1.19% uptick to settle at 99,378.06 points. The market’s performance was predominantly driven by strong demand in CONOIL (+33.52%), ARADEL (+18.28%), and MTNN (+3.47%), stockbrokers said. The momentum spurred by improved investors sentiment nudged year-to-date performance to 32.90% with 51 gainers against 35 laggards during the week. The NGX All-Share Index (ASI) advanced by an impressive 1.19%…

Golden Guinea Breweries Maintains Uptrend, Rises by 60% Beer producer, Golden Guinea Breweries Plc, has been priced higher again on the Nigerian Exchange (NGX). This surge in its market capitalisation has been consistent in the last few weeks. With expectation to get better return on investment, value hunting equities investors have continued to buy the beer producer’s shares in the local bourse. In the current month, the stock has seen strong re-pricing in the equities market. Investors sentiment has been identified as major driver of the company re-rating. Golden Guinea Breweries avoid direct competition with key rivals by limiting its…

Foreign earnings grew in the third quarter of the year significantly as Nigeria’s weak local currency, the naira, has made exports more competitive in the international trade market.

Angola’s long-term foreign-currency issuer default rating (IDR) of “B-” with a stable outlook has been confirmed by Fitch Ratings.

Palmpay, Jumia Partner to Enhance Digital Payments in Nigeria PalmPay, a leading Africa-focused fintech and Jumia, an e-commerce company have announced a strategic partnership to enhance Nigeria’s digital payment ecosystem. Sofia Zab, the Chief Marketing Officer, PalmPay, said this in a statement on Thursday. Zab said that the joint effort would redefine the online shopping experience in Nigeria. She noted that it would enable shoppers on Jumia to pay for their purchases using the PalmPay wallet, ensuring a seamless user experience and transaction reliability through direct integration. “We are proud to partner with Jumia as we bring together the best…