- AI, Tech Stocks Drive Wall St. to Record High, European Markets Rally
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- Oil Prices Slide Below $80 as Markets Price in US-Iran Talks
- Overnight Rate Dips as Financial System Liquidity Rises to N5.33trn
- XRP Steadies as Holders Can Now Borrow from Ripple Stablecoin
- CBN Declares Forex Market Stable as Reserves Hit $52.5bn
Economy
Global equity markets advanced, with Wall Street closing higher after buying interest in major technology companies following earnings releases.
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Nasarawa Geographic Information Service (NAGIS), says it generated and remitted more than N912.3 million into the state government’s coffer between January and November.
The domestic equities market kicked off the week with a growth 0.17 per cent due to bargain hunting in Guinness Nigeria and 31 others.
In the foreign exchange market, the Nigerian Naira depreciated by 2.48% in the official market, closing at N814.60 to the dollar from N794.89 per dollar.
Amidst a fluctuating global economic landscape marked by improved consumer confidence and a temporary halt in rate hikes, the 2023 global real gross domestic product (GDP) growth forecast has been adjusted upward to 2.4%, backed by robust employment conditions and substantial fiscal stimulus.
In terms of market valuation, Geregu Power Plc’s weight has increased and there is a possibility that the company could be joining the 13-digit gang on the Nigerian Exchange soon.
At all costs, Nigeria’s economy ascended in the third quarter of 2023, halting the previous quarterly decline. The gross domestic product growth report by the National Bureau of Statistics showed that the economy grew by 2.54% year-on-year in real terms to N19.44 trillion.
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