Author: Marketforces Africa

The equities market index is trading negative during the midday session on the Nigerian Exchange (NGX) platform due to sell pressure on banks and telecom company stocks. The Nigerian index declined yesterday due to weak sentiment despite earnings releases.

Gold has hit an all-time high in the global commodities market ahead of U.S. election. Gold hit another record high this morning, topping the all-time peak set just yesterday, climbing to $2,789.86/oz, ING said in a note.

The Federal High Court in Abuja, on Wednesday, restrained the Central Bank of Nigeria (CBN) from further releasing monthly financial allocations to Rivers government.

Oil prices climbed in the global commodities market on Wednesday as a report shows a sharp decline in U.S. crude inventories. Chinese demand outlook remains negative, while the World Bank’s latest report indicates there will be an oil glut in 2025 and 2026.

The Impact Investors Foundation (IIF), in collaboration with Kuramo Capital Management, on Tuesday in Lagos, introduced the Wholesale Impact Investment Fund (WIIF) to Pension Fund Administrators (PFAs) alongside other pension stakeholders and regulator.

Seplat Energy Profit Shrinks by 56%, Dividend Increases Seplat Energy Plc has reported about 56% year-on-year decline in net profit which settled at $35.254 million from $79.545 million in the comparable period in 2023.  The energy company’s profit fell on the back of reduced revenue reported in nine months of financial statements filed on the Nigerian Exchange. The company’s came in at $715.339 million at the end of the third quarter of 2024, 11.7% below $810.367 million in the comparable period in 2023. The topline weakness reflects the Seplat’s overlift position of 9M’23, which led to an underlift in 9M’2024,…

In the secondary market, fixed interest securities investors continue to heat up trading activities on Nigerian Treasury bills

Money market rates declined further as robust liquidity balance in the financial system continued to keep the short term benchmark interest rates movements in check. The market witnessed additional inflows from matured OMO bills, while there was also an outflow related to FX auction.

The Nigerian Exchange (NGX) lost weight due to a more than N394 billion decline in market capitalisation …

Jaiz Bank Jumps by 9.28% as Board Members Meet Jaiz Bank Plc climbed by 9.28%, pushing the Islamic lender’s share price to N2.59 on the Nigerian Exchange on Monday from N2.37 at the beginning of the trading session this week. The fresh rally on the banking shares followed today’s meeting held by the non-interest bank’s board of directors to consider third quarter unaudited financial statement. At the latest market price, the non-interest financial services valuation inched near N90 billion amidst strong share volume trading in the equities market. The buy side puffed up Jaiz Bank share price and market value…