FX: Central Bank Sells $148m to Banks to Defend Naira
FX: Central Bank Sells $148m to Banks to Defend Naira: The Central Bank of Nigeria (CBN) sold $148 million to authorised local deposit money banks to boost foreign currency liquidity and defend the naira…Read more
Dangote Cement Grows Profit by 0.6% in 9-Month: Dangote Cement Plc grew profit by 0.6% year on year to N279.10 billion in nine months, details from the company’s unaudited financial statement revealed…Read more
Nigeria’s Eurobond Yield Declines to 9.58% on Fresh Rally: Increased demand for Nigeria’s sovereign Eurobond dragged average yield downward in the international market, according to traders amidst double-digit inflation and interest rates in the local economy…Read more
Nigerian Bonds Yield Rises, Marginal Rates Increase by 1.75%: The average yield on Nigerian government bonds climbed slightly to 19.3% in the secondary market due to thin trading activities that had bearish tone…Read more
Treasury Yield Rises as CBN Hikes Rate on 364-Day Bills: The average yield on Nigerian Treasury bills climbed to 24.1% due to sell pressure in the secondary market as the Central Bank (CBN) repriced discount or spot rates at the primary market auction…Read more
Money Market Rates Decline as FAAC Inflows Boost Liquidity: Money market rates, the overnight lending and open repo rates dropped further after inflows from the Federal Accounts Allocation Committee hit the financial system…Read more
Equities Investors Gain N835bn in 5-Day on Nigerian Exchange : Equities investors gained N835 billion in 5 days on the Nigerian Exchange trading platform due to buy side activities. Due to investors’ interest in banking, oil, and gas names …Read more
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Naira Reclaims Value Ahead of Automated FX Platform Test Run: US dollar liquidity improved in the foreign exchange market this week. As a result of the reduction in demand for foreign currency, the naira appreciated by 0.07%…Read more
Unilever Nigeria Gains 18.4% after Solid Earnings Growth: Consumer Goods Company Unilever Nigeria Plc gained 18.4% or N20.107 billion, as the company’s earnings growth boosted investors’ confidence in the equities market…Read more
Ikeja Hotel Climbs by 15% after Strong Earnings Growth: Ikeja Hotels Climbed by 15% as the company’s market value reached N22.312 billion on the Nigerian Exchange trading platform. The hospitality stock price settled at N8.05 on Friday from N7 at the beginning of trading session last week…Read more
Nigeria’s Top 5 Banks Total Value Climbs to N5.63Trn or $3.52bn: The combined market value of big banks increased by N468.1 billion in the last five trading sessions on the Nigerian Exchange last week. Read more
Airtel Africa Posts Profit after Localisation of Debts, Declares Interim Dividend: Airtel Africa Plc recorded a profit after tax of $79 million at the end of the first half of its financial year ended in Sept 2024 as a move to localized debts reduce FX losses…Read more
Oil Prices Below $73 despite Israel Attacks on Iran: Oil prices slipped despite Israel’s latest counterattack on an Iranian military facility that killed four. Oil prices opened Monday lower with Brent trading more than 4% lower…Read more
FBN Holdings Opens Rights Issue as Share Price Picks Up: FBN Holdings Plc (Ticker: FBNH) has opened its rights issue, offering to sell 5.983 billion ordinary shares at 50k each to existing shareholders at …Read more