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Jul
July 3, 2023
| Financial stocks lead N41 billion turnover with 74 per cent – Guardian |
| The financial services industry dominated, in volume terms, last week’s transactions on the floor of the Nigerian Exchange Limited (NGX). It led the activity chart with 1.7 billion shares valued at N24.7 billion traded in 14, 277 deals. It contributed 74 per cent to the total equity turnover. The conglomerates’ industry followed with 98.4 million units of shares worth N379 million in 1,176 deals. The consumer goods industry traded 96.9 million shares worth N2.2 billion in 3,470 deals. ……………… ….. …….,…. ……… .. .. ….. .. ….. …….. …………….……..Read More |
10 Bluechip Firms Sustain Dominance with N25.4tn Contribution to NGX Market Cap – Thisday |
| Propelled by the federal government’s policy on foreign exchange and fuel subsidy, 10 leadings companies on Nigerian Exchange Limited (NGX) suatained their dominance of the local bourse in the first half (H1) 2023 contributing a commulative N25.4 trillion to overall N33.198trillion market capitalisation during the period. As a result of the significant gain by these 10 companies, investors on the NGX who have endured long periods of bearish sentiments had cause to smile as their wealth grew by N5.3 trillion in H1 amid audacious macroeconomic reforms under the new administration…. .. …… .. …. . ……….. ………. …………. . ….. . … …………….……..Read More |
Ecobank, Access, others seal pact to revolutionise cross-border transactions – Guardian |
| Ecobank Group, Access Bank Group, UBA Group and two others have entered into an agreement with the Pan-African Payment and Settlement System (PAPPS) to revolutionise the settlement of cross-border transactions across Africa, leveraging the vast network of subsidiaries and representative offices in the region. The deal, which was sealed recently at Afreximbank’s 30th anniversary celebrations and 30th yearly meetings held in Accra, Ghana, signified a major step forward in the pursuit of seamless cross-border trade payments throughout almost 40 countries covered by these banks….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Zenith Bank leads Nigerian lenders in new global ranking – Punch |
| Zenith Bank Plc has retained its ranking as the ‘Number One Bank in Nigeria by Tier-1 Capital’ in the 2023 top 1,000 world banks’ rankings published by The Banker Magazine. The bank had held its position as the number one Tier-1 bank in Nigeria for the fourteenth year in a row, emerging as the 467th bank globally with a Tier-1 capital of $2.54bn. A statement said the rankings, published in the July 2023 edition of The Banker Magazine of the Financial Times Group, United Kingdom, were based on the 2022 year-end Tier-1 capital…. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Transcorp Hotels: Improved Fundamentals Propel Stock Price – Thisday |
| The stock price of Transcorp Hotels Plc gathered momentum in the first half (H1) of 2023 following the company’s growing fundamentals that have continued to attract domestic and foreign investors’ interest. The hospitality business segment of Transcorp Corporation in H1 2023 saw its stock price increase to N23.40 per share, an increase of 274.4 per cent from N6.25 per share it closed in 2022 despite a difficult operating environment in the first quarter (Q1) ended March 31, 2023…. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |