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Daily Business News Brief – September 1st, 2023

1
Sep

Index rises by N60 billion amid bargain hunting in Seplat, NGX – Guardian
Positive sentiments resurfaced in the equities sector of the Nigerian Exchange Limited (NGX) yesterday, following gains recorded by many blue-chip stocks, especially Seplat and NGX Group, as market capitalisation appreciated by N60 billion.
At the close of transactions yesterday, market capitalisation of listed equities increased by 0.17 per cent to N36.422 trillion from N36.362 trillion reported the previous day… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

Investors’ Return in Stock Market Rises to N8.51trn in Eight Months – Thisday
Investors at the stock market of the Nigerian Exchange Limited (NGX) are in for robust yield on investment as returns in eight months of 2023 increased by N8.51 trillion in market capitalisation.
Investors continued bargain-hunting for fundamental stocks on expectations that foreign exchange reforms by President Bola Tinubu-led government will stimulate significant improvements in the domestic economy.,….. …….., . … …………….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

NGX, LCCI collaborate on private sector advocacy – Punch
The Nigerian Exchange Limited and the Lagos Chamber of Commerce and Industry have agreed to collaborate in advancing advocacy efforts, encouraging listings, and enhancing capacity development to the benefit of both the LCCI and the economy.
The proposed collaboration was disclosed at the closing-gong ceremony on the NGX, to mark the 135th year anniversary of the LCCI on Thursday in Lagos. ……… ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

BUA plans to lower cement prices – Punch
The Chairman of BUA Cement Plc, AbdulSamad Rabiu, has expressed optimism that the completion company’s two new factories by the end of the year would trigger a reduction in the price of cement.
Rabiu said this during an interview with journalists held on the sidelines of the company’s seventh Annual General Meeting on Thursday in Abuja…… …. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Former Stanbic IBTC boss sells shareholding – Punch
The former Chief Executive of Stanbic IBTC Holdings, Sola David-Borha, has sold 615,812 units of the lender’s shares.
In a notice on the director’s dealings, it was revealed that David-Borha carried out the transaction on Thursday on the platform of the Nigerian Exchange Limited.
The shares sold at an average rate of N63.21 per unit, bringing the transaction to N38.925m….. …. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Fidelity Bank supports schools with loan product – Punch
Fidelity Bank Plc says it will help schools to prepare adequately for the next session and deliver quality education as summer break gets to an end.
In a statement, it said through its product known as the Fidelity Edu Loan, administrators of registered private primary, secondary and tertiary institutions in Nigeria could access loans of up to N180m…… …. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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