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Daily Business News Brief – June 27th, 2023

27
Jun

Stocks gain N71 billion as Investors begin the week positive – Nairametrics
The Nigerian Exchange (NGX) closed positive at the end of today’s trading session to begin the new week.
The All-Share Index (ASI) traded 0.22% higher to close at 59,338.76 index points as against 59,206.63 index points recorded in the previous day’s trading session.
The market capitalization of equities saw a gain of N71 billion to close at N32.308 trillion, 0.22% higher than the N32.237 trillion recorded in the previous trading session……………… ….. …….,…. ……… .. .. ….. .. ….. …….. …………….……..Read More

Foreigners adopt wait-and-see stance as domestic investors dominate trading by 76% – Guardian
Uncertainty, inflation and other macroeconomic challenges have continued to weaken foreign investors’ appetite for stocks as the latest report by the Nigerian Exchange Limited (NGX) showed that the total value of transactions executed by domestic investors dominates the market by 76 per cent.
Specifically, the Domestic and Foreign Portfolio Investment report released by the NGX for May showed that total domestic transactions hit N285.8 billion in May 2023 while total foreign transactions stood at N37.16 billion…. .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

European stock markets begin new week with losses – Punch
European stock markets fell at the start of trading on Monday following a drop in Tokyo, as traders tracked the latest inflation developments and fallout from the Wagner revolt.
London’s benchmark FTSE 100 index slipped 0.2 per cent to 7,447.85 points… .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

World Bank okays fresh $500m loan for FG – Punch
The World Bank Group has approved a loan of $500m to help Nigeria drive women’s empowerment, The PUNCH has learnt.
This became the second loan approved by the World Bank under the new President, Bola Tinubu.
It is a scale-up financing for Nigeria for Women Programme, which was initially approved on June 27, 2018, with $100m financing… .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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