13
Nov
November 13, 2023
| Naira dips by 22.1% as equities market records N45.3b turnover – Guardian |
| The naira depreciated by 22.1 per cent to N996.75/$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM), with total turnover falling by 7.4 per cent week-to-date (w/w) to $545.89 million. Trades were consummated within the N700 and N1,100/$ band. In the forwards market, the exchange rate declined over the past month by 9.9 per cent to N873.59/$, three-month (-10 per cent to N890.19/$), six-month (-10.3 per cent to N918 /$) and one-year by 9.5 per cent to N969.18/$……………… .. . .,.. ………… …….. ………………… … .. …… .. …. . ……….. ………. …………. . ….. . … …………….……..Read More |
NGX considers dual listing with Saudi Stock Exchange – Guardian |
| Group Chairman of Nigerian Exchange Group, Dr Umaru Kwairanga, has hinted at the proposed plan for dual listing with the Saudi Exchange, stressing that President Bola Tinubu’s economic reforms have created room for investment inflow into the country. Kwairanga, who spoke on the sidelines of the Saudi-Africa Summit in Riyadh, stated that the meeting was an opportunity to seek cooperation between the Saudi government and Nigerian businesses……………. . …………………………. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Onyeama tasks govt on revenue generating options – Guardian |
| The Group Managing Director, Nigerian Exchange (NGX) Limited, Oscar Onyema, has stressed the need for governments to explore other options of generating revenue, in view of the country’s current economic situation. Onyeama, who spoke at a summit by CityBusiness News in Lagos, said that the nation also needs to attract more investors both locally and internationally…… …………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Amid Products Price Hike, NGX Oil & Gas Emerges Best Performing Index – Thisday |
| Following price hike in Premium Motor Spriit (petrol), Diesel, among other products and federal government reforms in the oil & gas sector, the Nigerian Exchange Limited (NGX) Oil & Gas index with over 100 per cent gain outpaced other indices on the bourse Year-till-Date (YtD). Analysis of market activity revealed that the NGX Oil & Gas index appreciated by 108.24 per cent YtD to 963.05 basis points, while the NGX Alternative Securities Market (AseM) emerged the worst performing index, dropping by 0.07 per cent …. …………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Courteville Finally Delist from NGX – Thisday |
| Courteville Business Solutions Plc has finally listed from the Nigerian Exchange Limited (NGX) coming months after shares held by minority investors were taken over by Bows Nigeria Limited, the company’s majority shareholder. The management of the NGX in a notice said, We refer to our market bulletin of 17 October 2023 with reference Number: NGXREG/LRD/MB49/23/10/17 wherein the Market was notified of the full suspension placed on trading in the securities of Courteville Business Solutions Plc………………… …………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Eight firms record N918.1bn loss on currency revaluation – Punch |
| Eight firms have declared N918.1bn as currency revaluation loss following a 68.55 percent decline in the value of the naira against the dollar as of the end of September 2023. Following a Central Bank of Nigeria move in June to allow the market to determine the value of the local currency, the naira had fallen from 461/$1 as of December 2022 to 777/$1 in September 2023. An analysis of the financial statements of these firms showed that the devaluation of the naira from N465/$ at the end of May 2023 to N776.79/$ gave rise to this recorded exchange loss. ………………… …………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Cement companies’ investors gain N715bn – Punch |
| Investors in the cement manufacturing companies listed on the Nigerian Exchange Limited have had their wealth increased by about N715.89bn in the third quarter of the year. This was contained in the trading statistics of these companies which include Dangote Cement Plc, BUA Cement Plc and Lafarge Africa Plc The rise in wealth of investors is on the back of positive sentiments witnessed in at least two of the listed companies,. ………………… …………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |