Markets

Dangote Cement, MTN Nigeria, Nigerian Breweries and nine other Industry leading Nigerian companies have raised a sum of N478.4 billion through Commercial Paper issuances between January and September 2020. Newsletter from Nigerian Investment Promotion Commission (NIPC) has revealed.

After enjoying bullish trend last week, the Nigerian equity market declined 2.5% this week, thanks to losses by Dangote Cement, WAPCO, and Zenith Bank.

Nigerian stock market closed on a negative note for the fourth straight session on Thursday with the market capitalisation losing N232 billion.

The Securities and Exchange Commission is opposed to a proposed amendment in the Finance Bill 2020 that prescribes that unclaimed dividends be handed over to the federal government as trustee.

The Chief Executive Officer, Nigeria Sovereign Investment Authority (NSIA), Mr. Uche Orji, has again stressed the need for Nigeria to turn its infrastructure into investible assets by investing more in it.

The Nigerian Stock Exchange (NSE) market indicators on Tuesday dropped further by 0.09 per cent on sustained profit taking embarked on by some investors.

Asian stocks came under pressure on Tuesday as investors struggled to balance hopes for more economic stimulus and vaccines with fresh concerns about a surge in COVID-19 infections.

From January 2021, stockbrokers would be mandated to give details of any investor in the Nigerian capital market who trades any security more than 499,999 units.

The stock market posted positive performance last week despite profit taking by some investors, as it sustained the growth recorded in the previous week.

The Securities and Exchange Commission (SEC) says it has intensified efforts to attract more retail investors into the nation’s capital market.

The U.S. government is just one step away from enacting a law that could ‘kick’ several Chinese firms off Wall Street, which can further escalate tensions between Washington and Beijing.

The banking sector inspired the All-Share Index to gain 105.48 absolute points, representing a 0.30% growth to close at 35,147.62 points, Market Capitalization appreciated by N55.17 billion, representing a growth of 0.30% to close at N18.364 trillion.

The Nigeria stock market on Tuesday sustained bullish sentiment to open the month of December with N55 billion growth due to buying interests in Tier 1 banks.

The Nigerian Stock Exchange (NSE) says it has migrated four companies from alternative securities market (ASeM) to growth board.

The nation’s bourse closed for the last trading day in November with a growth of 0.45 per cent following price appreciation posted by Airtel Africa and 16 other stocks.

Two of the year’s most anticipated public listings — DoorDash and Airbnb — will seek higher than expected valuations for their IPOs, new filings show. Each company has seen its fortunes affected by the coronavirus pandemic, with DoorDash surging and Airbnb seeing its business drop off sharply. But both have priced their IPOs in roughly the same range.

Authorities at the Nigerian Stock Exchange (NSE) at the weekend lifted suspension clamped on FTN Cocoa Processors Plc, nearly three months after the Exchange disallowed trading in the shares of the agricultural company for breach of corporate governance rules.

The roller coaster which the Nigerian equities market has enjoyed in the last two months may be short-lived as there are indications that investors are planning to take advantage of the low yield being recorded in the money market by diverting into Bitcoin trading.

The Nigerian Stock Exchange (NSE) on Thursday sustained positive momentum with a growth of 0.10 per cent.

Asian shares extended this month’s stellar gains as market euphoria over COVID-19 vaccines and expectations that US President-elect Joe Biden’s administration would deliver more economic stimulus overrode weak US economic data.

The domestic equities market on Monday extended its losing streak with the All-Share Index dropping by 0.04 per cent, as the country officially entered recession.

Wall Street’s main stock indexes pushed higher on Monday kicking off another week on a shot of positive vaccines news – this time from AstraZeneca and Oxford University.