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Daily Business News Brief – September 6th, 2023

Home   /   Business News Brief   /   Daily Business News Brief – September 6th, 2023
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September 6, 2023
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in Business News Brief
Bargain hunting in BUA Foods, 29 stocks lifts index by N30 billion – Guardian
Transactions on the equities sector of the Nigeria Exchange Limited (NGX) sustained rising profile yesterday, as bargain-hunting in BUA Foods Plc and 29 others spurred N30 billion rise in the overall market capitalisation.
At the close of transactions, the all-share index (ASI), which measures the performance of listed firms, rose by 5.54 points or 0.08 per cent to close at 68,334.68 points….. …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

Banking Index Up 54.80% YtD on FX Unification, Corporate Earnings – Thisday
Following the economic reforms by President Bola Tinubu headlined by foreign exchange unification and impressive corporate earnings, the Nigerian Exchange Limited (NGX) Banking Index gained 54.08 per cent Year-till-Date.
The banking index, according to THISDAY investigations is behind the NGX Oil & Gas Index and NGX Consumer Goods which have appreciated by 103.22 per cent and 80.50 per cent YtD, respectively.l …,….. …….., . … …………….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Yuguda: Capital Market Must Government Actualise Economic Reforms – Thisday
The Director General, Securities & Exchange Commission, Mr. Lamido Yuguda reiterated the Commission’s readiness to help the federal government in its current economic reforms, expressing optimism that rigorous reforms will rejuvenate the nation’s economy. Kayode Tokede brings extracts from the virtual second Post-Capital Market Committee (CMC) media briefing held recently.. ……… ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Investors blame SEC for high capital flight, stock delisting
. GSK, PZ, others pull over N127b from bourse – Guardian
With close to N127 billion capitalisation of four listed firms pulling out from the stock market within eight months, shareholders yesterday, blamed the Securities and Exchange Commission (SEC) for the renewed move by companies to delist voluntarily from the exchange and rising capital flight.
This came as PZ Cussons disclosed, yesterday, that it would acquire shares held by other shareholders of PZ Cussons Nigeria Plc (PZCN) subject to prevailing market conditions. ……. …. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

LCCI, NGX seek improved private-sector participation – Guardian
The Lagos Chamber of Commerce and Industry (LCCI) and the Nigerian Exchange Limited (NGX) have disclosed plans to sign a memorandum of understanding (MoU) to work together for the future growth of the country’s capital market.
LCCI’s president, Dr Michael Olawale-Cole, made this known when LCCI’s management paid a courtesy call to the NGX, where it also closed the stock market session with the ceremonious ringing of a bell.. ……. …. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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