Author: Marketforces Africa

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…

Equities Investors Lose N448bn in Nigerian Stock Market Equities investors lost more than N448 billion in the Nigerian stock market on Monday due to strong selling rallies. The Nigerian equity market began the new week on a negative trajectory as sell side actors went on rampage, causing key performance indicators to dip by 0.74%. The Nigerian Exchange All-Share Index fell by 740.01 basis points in today’s trading session to close at 98,708.90 points. The trading results halted last week’s positive streaks. The market experienced profit-taking in some medium- and large-scale stocks. BUACEMENT, FBNH, and UBA were top stocks targeted for…

US Dollar Declines Ahead of GDP Data The US dollar fell against its major trading partners early Monday, except for a gain versus the yen, as markets prepare for an extremely busy data schedule. These data release include first look at Q3 gross domestic product growth and the October employment report, while Federal Reserve officials are in their ‘quiet period’ ahead of the Nov. 6-7 Federal Open Market Committee meeting. A quick summary of foreign exchange activity heading into Monday showed that USDEUR rose to 1.0817 from 1.0797 at the Friday US close but was below a level of 1.0825…

Transnational Corporation Plc has announced the successful completion of its share reconstruction, a strategic action aimed at maximising long-term shareholders’ value.