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Daily Business News Brief – October 10th, 2023

Home   /   Daily Market Reports   /   Daily Business News Brief – October 10th, 2023
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October 10, 2023
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Gains in BUA Cement, MRS Oil, others lift indices by N355b – Guardian
Following price appreciation recorded by many bluechip stocks, especially BUA Cement and MRS Oil Nigeria, transactions on the Nigerian Exchange Limited (NGX) rebounded yesterday, as market capitalisation increased by N355 billion.
At the close of transactions yesterday, the All-Share Index (ASI) rose by 646.76 points, representing a gain of 0.97 per cent to close at 67, 101.33 points. .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

Banks gain 61.9% in nine months amid devaluation, economic headwinds
• Sterling Bank, UBA, Accesscorp gain 150%, 126%, 93% respectively
• Operators see robust final dividend payout in full year – Guardian
The Nigerian Exchange Limited (NGX) banking index appreciated by 61.9 per cent in nine months (Year-To -Date), surpassing the overall All-share index that measures the performance of listed firms, data from the exchange has revealed.
Specifically, Year-to-Date assessment of the banking index of the exchange showed that the sector has recorded 61.86 per cent return to investors  .. …………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

NGX Group announces board changes across subsidiaries – Guardian
The Nigerian Exchange Group Plc (NGX Group) has announced key board changes in ts subsidiaries: the Nigerian Exchange Limited (NGX), NGX Regulation Limited (NGX RegCo) and NGX Real Estate Limited (NGX RelCo).
Effective 27 September 2023, NGX has appointed Ahonsi Unuigbe as its new board chairman, succeeding Abubakar Mahmoud, who has retired….,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

VFD Group lists on NGX, commemorates with closing gong ceremony – Guardian
VFD Group Plc, a sector-agnostic proprietary investment company, has announced its listing on the Nigerian Exchange Limited (NGX).
Done on October 6, the listing was celebrated with a Closing Gong ceremony and a Fact Behind the Listing presentation…,…..,. …………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Banks in N400b recapitalisation drive at stock market
. FBN Holdings, Fidelity, Jaiz, Wema jostle for investors’ funds – The Nation
The Nigerian banking industry appears set for a new race for recapitalisation. Some banks are repositioning ahead of emerging changes in national and global financial structures.
The first set of fund-raising banks are expecting to raise not less than N400 billion from the capital market… .. ., … …………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Stakeholders advice insurance operators on growth strategies – Punch
Financial experts have urged operators in the insurance industry to drive initiatives that will boost growth in the sector.
The experts made the call during the second edition of the Insurance Claims Advocacy Conference in Lagos with the theme, ‘Taking insurance experience beyond claims payments’.. .. ., … …………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Portfolio investment declined by 83.54% in Q2 – NBS – Punch
The flow of portfolio investment into Nigeria declined by 83.54 per cent in the second quarter of this year to $106.85m from $ 649.28m in the first quarter even as it ranked the second top source of capital importation.
This was revealed in the latest report of the National Bureau of Statistics titled ‘Nigeria Capital Importation (Q2 2023)’… .. ., … …………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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