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Daily Business News Brief | Friday, April  22nd, 2022.

22
Apr

Stock Market Sustains Positive Momentum for Third Consecutive Session, Adds N46bn – Punch

The stock market of the Nigerian Exchange Limited (NGX) sustained its positive momentum for the third consecutive session yesterday as market capitalisation gained N46 billion over investors buy interest in Guaranty Trust Holding Company Plc (GTCO) that gained 1.69 per cent and Zenith bank 1.25 per cent, to keep the market in positive terrain. The gained recorded lifted the NGX All Share Index (ASI) by 85.15 basis points o 0.18 per cent to close at 48,223.86 basis points, the highest point since September 16, 2008. …………………read more

Oil price rises as OPEC projects steady demand growth – Punch

Brent, the global benchmark for crude oil, rose marginally in price on Thursday, as the Organisation of Petroleum Exporting Countries projected that the demand growth for oil would continue this year.  Industry figures showed that Brent moved up by $0.77 or 0.72 per cent to $107.57/barrel at about 7.13pm Nigerian time. It had traded around 106.8/barrel the preceding day.  In its statement to the International Monetary and Financial Committee meeting of ministers and governors for April 2022 and released on Thursday, OPEC stated that oil prices had been on the rise, particularly in March this year. ………………read more

External reserves return to growth path, gain $243.83m – Thisday

Nigeria’s external reserves rose by $243.83m in 19 days, according to figures obtained from the Central Bank of Nigeria. The CBN revealed in its data on movement in reserves that the value rose from $39.54bn as of April 1, 2022 to $39.78bn as of April 19, 2022. The external reserves fell by $313m in March, after starting the month at $39.86bn, before falling to $39.55bn on March 30…………………read more

NGX Regulation CEO Tasks Market Stakeholders on Improved Climate-related Financial Disclosure – Daily Independent

NGX Regulation Limited has urged all market stakeholders to come up to speed with recent trends in climate disclosure by paying closer attention to climate related financial risks and opportunities in their business operations in line with the recommendations of the Financial Standards Board (FSB) Task Force on Climate-related Financial Disclosures (TCFD). . ………………. read more

High food prices’ll continue in Nigeria, others till 2023–IMF– Vanguard

The International Monetary Fund says the impact of the war in Ukraine is likely to sustain pressure on commodity prices, affecting oil and gas prices severely in 2022 and food prices well into 2023 in Nigeria and other countries of the world. The Washington-based lender disclosed this in its ‘World Economic Outlook: War Sets Back the Global Recovery April 2022,’ report. According to it, inflation is expected to remain high, and far longer than it had previously forecasted…………..read more

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