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- Esso Nigeria Announces Drillship Arrival as Usan Infill Project Enters Execution Phase
- Crude Oil Prices Edge Higher, Brent Tops $92 Per Barrel
- SK Hynix Tokenised bStock Dips on Chipmaker Share Buyback Update
- Excess Liquidity in Banking System Keeps Funding Costs Stable
- Naira Weakens Against USD, EUR, GBP on Squeezed FX Liquidity
Analysis
The stock market value of MTN Nigeria Plc.’s 20.995 billion outstanding shares fell by about 5% on Tuesday
Global equities opened on a mixed note after renewed tensions between the US and Iran weighed on sentiment, while investors reacted to a sharp surge in oil prices.
The Supreme Court on Monday dismissed an appeal seeking the dissolution of the merger between Providus Bank Limited and Unity Bank Plc.
Aradel Holdings Plc added 5.3% to its market value amid a surge in demand for oil stocks; its price appreciation was primarily driven by volume, despite a missed regulatory filing. Trading data from the Nigerian Exchange (NGX) showed that the volume of Aradel shares transacted was moderate.
GCR Ratings (GCR) has affirmed Access Bank Plc’s national scale long and short-term issuer ratings of AA(NG) and A1+(NG), respectively, while the outlook is stable.
GCR Affirms Stanbic IBTC Bank AAA/ A1+ Ratings, Outlook Stable
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