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Unilever Nigeria, International Breweries and other risers drove the Nigerian Exchange (NGX) All-share index (ASI) higher by 5 basis points on Thursday.
The global markets open the new week in red following a soft Wall Street close, reflecting uncertainties in the global economy with a negative inflation outlook.
S&P Global has upgraded its long-term ratings on Nigeria to ‘B’ from ‘B-‘, citing higher oil production and prices, the large increase in domestic refining capacity, and the 2023 decision to liberalise the exchange rate.
The Nigerian Exchange (NGX) year-to-date return climbs to 62.27% on Wednesday as funds continue to rotate into risky assets, though stockbrokers spotted a slowdown in momentum.
The Nigerian Exchange (NGX) All-Share Index (ASI) declined by 58 basis points, or 0.58%, on Tuesday amid sell pressure across key sectors. Investors took profits in stocks that recently recorded significant uptrends.
Global markets remained under pressure as oil prices surged on escalating Middle East tensions and persistent inflation concerns. Wall Street ended mixed, with the S&P 500 marginally down 0.04%, the Dow Jones closing 0.57% lower.
The Debt Management Office (DMO) increased rates on Nigerian government bonds across reopened 5- and 7-year papers, amid softer subscription levels.
Interest in Undervalued Stock to Fuel Rally in Nigerian Market Buying interest in undervalued stocks is expected to fuel a…
Offshore Investors Increase Position in Nigeria Eurobonds The Nigerian sovereign Eurobonds rallied in the international market as offshore investors increased…
Nigeria’s Eurobonds Yield Rises to 11.7% over Sell Pressure Nigeria’s foreign costs of borrowing spiked as benchmark yield on the…