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Equities investors gain N76. 7 billion as All-Share-Index grows 60 basis points. The performance of the equities market strengthened on Monday as equities investors gained N76.7 billion.
Oando signs Gas Supply Agreements with NLNG, says JV closer to zero gas flare
AFEX to grow operation ten-fold over next five years, Balogun says| Ayodeji Balogun, the Regional Director, AFEX Commodities Exchange Limited (AFEX), a market-leading commodities exchange in Nigeria said operation of the Commodity Exchange would grow ten-fold in the next five years.
Nigeria records positive trade balance in Q3. Nigeria’s total imports decline as exported goods saw a push in the third quarter of 2019, the National Bureau of Statistics (NBS) has revealed.
FCMB says group will diversify earnings from retail, raise Tier-2 Capital. After disappointing earnings in the third quarter of 2019, FCMB Group www.fcmbgroup.com said it plans to diversify earnings concentration from banking, sets strategic course for 2020 with Tier-2 capital raise which is expected to be closed in January.
Declining External Reserves Threaten CBN’s FX Market Intervention| The declining in the amount credited to the nation’s external reserves threatens the apex bank ability to supporting the local currency in the foreign exchange market, analysts have stated.
Deloitte faults application of IFRS 9 by Nigerian Banks. Many Nigerian banks applied International Financial Reporting Standard 9 impairment provisioning modelling differently, thereby making comparison a tough task, Deloitte Nigeria’s report has revealed.
Earnings miss limit FCMB stock upside potential. Despite the fact that its earnings faltered, analysts at Cardinalstone still wants you to hold FCMB stock in your portfolio, rating given to stock with good fundamental, and upside potential less than 15%.
The Nigerian Stock Exchange (www.nse.com.ng) extends its losing streaks amid sell-offs in the banking stocks at the trading session on Wednesday.
Equities market (www.nse.com.ng) opens the week on a negative note as market index drops.
Losses in CCNN (-5.0%), GUARANTY (-0.5%) and FCMB (-5.5%) dragged the All-Share Index (ASI) by 4 basis points (bps) to 26,990.59 points.