30 C
Lagos
Saturday, May 8, 2021
Stock market opens on negative note on Monday as the all share index nosedived 16 basis points. The domestic bourse closed in the red, starting the week on a bearish note as DANGCEM (-1.6%), UBA (-4.6%) and FBNH (-3.3%) pushed the All Share Index (ASI) 16bps lower to settle at 29,518.85 points. Consequently, investors’ wealth...
Five consecutive quarters growth fails to rebuild purchasing power
CBN may not revisit FX policy in the near term The nation’s external reserve went up by $2.1 billion in the month of March on the back of stability in the global price of oil. For most part of the month, oil price stayed at around $60 per barrel with production...
  The minister of Finance, Zainab Ahmed, has said that more funding will be given to the Nigeria Sovereign Investment Authority, from the country’s oil windfall savings. She was speaking on the sidelines of the IMF’s spring meetings in Washington DC. The excess crude account contains monies from Nigeria’s oil windfall savings....
Fiscal, Monetary authorities converging policy to reduce debt cost
  First Bank of Nigeria Holdings has declared N59.7 billion profit after tax, its audited result made available to the Nigerian Stock Exchange, NSE, as shown. FBNH has N279.983 billion market capitalisation as its shares traded at N7.50. The performance which analysts have commended came strong as the holding company...
Industry experts call it access to credit breakthrough, but the explosive growth of peer lenders, otherwise call instant credit vendors has been predicted to reduce the volume and amount of transactions from the commercial banks as operators intensify drive for market share. The rising trend of instant credits vendors...
The earnings season has not been strong enough to reverse the market from bearish move as money market continues to edge out equity for significant part of the first quarter trading session. Tracking the index and volume of trades, it has been observe that the investing communities have shifted...
Offering lending rate at above 30% could put pressure on corporate financing, but banks are comfortably charging above that except for bellwethers that have strong financial muscles and negotiation advantage. Review of data provided by the CBN on lending rate from all deposits money banks has revealed. The recent data...
Market index gained further at the end of yesterday trading session on the back of bullish performance sustained by bargained hunting. The domestic equities market advanced 0.5% on Thursday trading session to settle at 29,347.62 points following gains in bellwether stocks - GUARANTY (+2.1%), FBNH(+6.1%) and UBA (+2.4%). As a result, market capitalisation rose by...