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Daily Business News Brief – May 16th, 2023

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May 16, 2023
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in Business News Brief
Bargain hunting in Julius Berger, 23 stocks lifts capitalisation by N9b – Guardian
Transactions on the equities sector of the Nigerian Exchange Limited (NGX) reopened in an upbeat yesterday, as bargain-hunting in the shares of Julius Berger Plc and 23 stocks pushed market capitalisation by N9 billion.
Accordingly, the All Share Index (ASI) gained 16.67 points, representing a growth of 0.03 per cent to close at 52,231.29 points. Also, the market capitalization, which gained N9 billion, closed at N28.440 trillion….,…. ……… .. .. ….. .. ….. …….. …………….……..Read More

Food, housing, logistic costs push inflation to 22.22% – Punch
Nigeria’s inflation rate increased for the fourth consecutive month this year to 22.22 per cent in April from the 22.04 per cent recorded in March.
This is according to the Commodity Price Index report published on Monday by the National Bureau of Statistics.
The April 2023 inflation rate showed an increase of 0.18 percentage points when compared to the March 2023 headline inflation rate………. ………. …………. . ….. . … …………….……..Read More

April inflation data reveal 5 alarming indicators – Nairametrics
The latest inflation numbers for Nigeria in April 2023 have revealed deeply concerning trends that paint a gloomy picture for households and their purchasing power.
Nigeria’s inflation rate rose to 22.2% in April 2023, the highest since January 2004, 19 years ago. In fact, Nigeria has posted a record inflation rate every month since July 2022. It is as if we hit new record highs every month that inflation numbers are published.. …. .. .. .,……. .. …… . ….. . … …………….……..Read More

NGX Reiterates Commitment To Upholding Market Transparency Rules, Regulations – Thisday
Nigerian Exchange Limited (NGX), yesterday reiterated its commitment to supporting the enforcement of regulations that enhanced transparency in the capital market, urging  investors to comply with rules on disclosure of substantial holdings in listed companies.
Recall a circular to the market recently in which NGX stated that lack of appropriate disclosures by investors was a breach of its rules and other extant market regulations.. .., … .. .,……. .. …… . ….. . … …………….……..Read More

Shareholders okay GTCO’s N91.24 billion dividend payment – Guardian
Shareholders of Guaranty Trust Holding Company (GTCO) Plc have endorsed the payment of N91.236 billion dividend at N3.1 per share for the 2022 financial year.
The Group had, in June 2022, declared a final dividend of N2.8 per unit of ordinary shares held by shareholders in addition to the interim dividend of 30 kobo, bringing the total dividend for 2022 to N3.1 kobo.,. .., … .. .,……. .. …… . ….. . … …………….……..Read More
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