- Wall Street, FTSE 100 Surge as AI Shares Gain Momentum
- Nigeria’s US Dollar Bonds Dumped as 10-Year Yield Surges to 8%
- Nigerian Banking System Excess Liquidity Climbs to N7.31trn
- Oil Dips as US-Iran Negotiations Progress, Brent Falls to $110
- CBN Intervenes in FX Market, Injects $500m to Ease Supply Stress
- Bitcoin Falls Below $80k Ahead of Federal Reserve Rate Decision
- Naira Losses Deepen, Exchange Rate Weakens to N1,367/$US
- Equities Investors Gain N2.6trn as Dangote Cement, FirstHoldco Rally
Author: Marketforces Africa
MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.
Fitch Ratings has downgraded Nigeria-based Coronation Merchant Bank Limited’s (CMB) Long-Term Issuer Default Rating (IDR) to ‘CC’ from ‘B-‘ and its Viability Rating (VR) to ‘cc’ from ‘b-‘.
Nigerian Breweries Plc is considering paying N7.01 billion for the proposed acquisition of 80% economic and voting rights in Distell Wines and Spirits Nigeria (DWSN) and 100% of Distell’s import business in Nigeria is ₦7.01 billion, its transaction document obtained by MarketForces Africa revealed.
Amidst strong stock market rerating of banking shares, the United Bank for Africa (UBA) Plc has spun higher return than any of its peers in the banking sector. Its year-to-date return as investors
Equities analysts at Afrinvest Limited have kept shares of Fidelity Bank, FBNH and Stanbic IBTC on sell recommendation due to weak upside potential, detail from its week stock recommendation shows.
Uncertainties in the Nigerian economy heighten as the monetary authority suspends its meeting scheduled for November meeting. The apex bank first postponed its bi-monthly meeting in September amidst worsening macroeconomic indicators.
Zenith Bank is set to hold the third edition of its tech fair tagged “Future Forward 3.0”, holding on Wednesday, November 22 and Thursday, November 23, 2023, at the Eko Convention Centre, Eko Hotels & Suites, Victoria Island, Lagos, from 8.00 a.m. to 6.00 p.m. daily.
President Bola Tinubu has called for German investment in critical sectors of Nigerian economy such as power and rail transportation.
The average yield on the Federal Government of Nigeria (FGN) bond rose by 8 basis points
To support its working capital requirement, C&I Leasing Plc has opened its N5 billion commercial paper
Return on Afrinvest Equity Fund Spikes to 48.5% – Fact Sheet Afrinvest equity fund year-to-date returns neared 49% in October 2023, a fact sheet released by the investment banking firm showed. This came after it gained 5.8% above the September record. Weighing side by side with the local exchange return, the Afrinvest equity fund outperformed the local bourse which is currently behind 40%. The fund’s performance provides solid coverage against negative inflation conditions, preserving investors’ wealth via multi-asset allocation of funds to three major asset classes: Money market, bonds and cash. In October 2023, the headline inflation rate increased to…