Real Time Financial News Website
Former Senator Ben Murray-Bruce and ex-presidential aide Reno Omokri have both expressed strong endorsements for Fidelity Bank, encouraging Nigerians to invest in its stocks. Over the weekend, both figures independently…
Global stock markets are currently in a wait-and-see mode, with investors closely monitoring the upcoming US jobs report. This report is expected to influence the Federal Reserve’s decision on interest…
The Nigerian equities market showed resilience in May, posting a marginal gain of N619 billion despite the Central Bank of Nigeria’s (CBN) ongoing interest rate hikes. This represents a significant…
Saudi Arabia is preparing to announce a potential secondary share offering for Aramco, its state-owned oil giant. This offering, if approved by Crown Prince Mohammed bin Salman, could launch as…
Nigerian stock market investors are feeling the pinch after the recent Monetary Policy Committee (MPC) meeting. Analysts predict continued asset reallocation away from equities due to the MPC’s decision to…
Despite a recent hike in interest rates by Nigeria’s Central Bank, rates on one-year treasury bills remained nearly unchanged at 26.08%. This lack of response, known as the “pass-through effect,”…
After experiencing a downturn of N3.54 trillion in April, the Nigerian equity market saw its first weekly gain, amounting to N812 billion. This positive movement followed six weeks of bearish…
Transnational Corporation Plc has announced plans to reduce its number of shares through a share capital reconstruction, aiming to enhance shareholder value and improve share pricing. The move has received…
On Tuesday, global shares showed a mixed performance as investors awaited this week’s U.S. inflation report and an important European Central Bank meeting. While industrial metals prices continued to rise,…
Stock investors faced losses totaling N252 billion as the Nigerian Exchange sustained a bearish trend on Thursday, continuing a decline that began after the Easter holidays. The market witnessed a…
The Federal Government has announced intentions to launch domestic bonds denominated in foreign currency in the second quarter of this year, specifically in June. The Minister of Finance and Coordinating…
The Nigerian Exchange (NGX) All-Share Index began the week’s trading on a downward note, shedding 4 basis points to close at 104,518.14 points, compared to the previous session’s 104,562.06 points.…
Shareholders of Africa Prudential Plc have given their approval for the payment of N900 million in dividends, equivalent to 45 kobo per share, for the financial year ending December 31,…
PZ Cussons Nigeria’s plan to delist from the Nigerian Exchange Group (NGX) has encountered a hurdle, as the Securities and Exchange Commission (SEC) has rejected the company’s proposal for its…
The Central Bank of Nigeria’s Intervention Funds Programme, totaling N10.3 trillion, has shown a repayment rate of 75.8%. However, concerns arise as N193 billion of the disbursed loans have been…
Asian stocks saw gains on Wednesday as traders anticipated policy indications from Beijing during its week-long annual parliamentary session. Investors were hopeful for potential stimulus measures after a previous lack…
The Nikkei’s surge towards a record high symbolizes Japanese stocks’ resurgence in global portfolios, marking a significant turnaround after decades of stagnation. With the Nikkei up 50% in just over…
The foreign exchange (FX) market in Nigeria experienced a notable 56.58% decrease in dollar supply on Wednesday, following a surge in liquidity just two days prior, attributed to interventions by…
A recent report titled “Finding Rain in Drought.” by Comercio Partners, a prominent research and investment firm, suggests that foreign investors might delay investing in Nigeria due to the ongoing…
Nigerian billionaire Femi Otedola is set to receive a substantial final dividend exceeding $17 million from his significant 78.64-percent ownership stake in the rapidly growing power-generating company, Geregu Power Plc.…
At a General Meeting held in Lagos, shareholders of Cadbury Nigeria Plc endorsed the conversion of an outstanding intercompany loan of $7.718 million (N7.036 billion) owed to its majority shareholder,…
On Tuesday, the Nigerian Exchange witnessed losses spurred by declines in BUA Cement, Sterling Financial Holding Company, Consolidated Hallmark Holdings, UPDC, and The Initiates. The equity market saw a significant…
Airtel Africa Plc has unveiled its intention to repurchase up to $100 million worth of its shares, underscoring confidence in its financial performance despite ongoing foreign exchange challenges. In its…
Sergio Pimenta, the Regional Vice President for Africa at the International Finance Corporation (IFC), revealed that the institution’s investments in Nigeria amount to $2 billion and are diversified across various…
Shell Plc, in a statement released by its Chief Executive Officer, Wael Sawan, announced that it returned $23 billion to shareholders in 2023. The company’s cash flow from operations (CFFO)…
The stock market experienced a bullish resurgence on Thursday, resulting in a substantial gain of N902 billion. The All-Share Index and market capitalisation of the domestic bourse rose by 1.63…
Geregu Power Plc’s board of directors has announced a proposed dividend of N8 per share for the 2023 financial year. The power company, in its annual report submitted to the…
The Nigerian Autonomous Foreign Exchange Market witnessed a historic low on Monday as the naira plunged to N1348.63 against the dollar, marking a staggering 51.21% drop from its previous close…
U.S. stock futures are poised for a potential pullback after Monday’s rally, influenced by gains in chip designer Nvidia. However, fresh concerns surround Boeing’s 737 Max 9 jet, as airlines…
Citi strategists downgrade Netflix (NFLX) from Buy to Neutral, leading to a 2% pre-market decline. The rationale behind the downgrade revolves around concerns about high expectations for the streaming giant…