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Daily Business News Brief – January 12th, 2024

12
Jan

Investors gain N314b amid renewed interest in 48 stocks – Guardian
The equities market rebounded yesterday, as renewed interest in 48 stocks lifted market capitalisation by N314 billion.
Thus, the All-Share Index advanced by 572.7 points, representing a gain of 0.70 per cent to close at 82,597.08 points. Also, market capitalisation rose by N314 billion to close at N 45.199 trillion…………………………… ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Companies Announce Closed Period, Set to Release 2023 Results – Thisday
FListed companies on the floor of the Nigerian Exchange Limited (NGX) have announced a closed period in anticipation to release 2023 financial year results and declared dividend payout to shareholders.
According to THISDAY investigation, Zenith Bank Plc, Access Holdings Plc, MTN Nigeria Communications Plc, Lafarge Africa Plc, Ecobank Transnational Incorporated, BUA Cement Plc, United Bank for Africa Plc (UBA) and Zenith bank Plc…… … …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
International Breweries plans rights issue – Punch
The Board of Directors of International Breweries Plc is set to consider a Rights Issue as well as an increase in its share capital.
According to a corporate update filed with the Nigerian Exchange Limited, the directors of the brewer will meet on Friday for an emergency board meeting to consider the proposals…. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Wema Bank posts N22bn profit – Punch
Wema Bank grew its Profit Before Tax by over 130 per cent to N21.76bn at the end of the third quarter of 2023 from N9.46bn at the end of the same period in 2022.
An analysis of the bank’s financials revealed that for the first three quarters of 2023, Wema Bank recorded a 130 per cent increase in Profit Before Tax to N21.76bn and 61 per cent increase in gross earnings to N150.90bn in Q3 2023, compared to Q3 2022’s N93.86bn………. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
NGX: Uwaleke advocates 5% daily price limit for banking stocks – Dailytrust
Professor of Capital Market, Uche Uwaleke, has asked the Nigerian Exchange Limited (NGX) to designate banking stocks as Systemically Important Stocks (SIS). 
Uwaleke who is the Director of the Institute of Capital Market Studies at the Nasarawa State University Keffi in a statement made available to our correspondent said this became necessary to make the stock market more resilient, curb the current speculative frenzy, and dampen any extraordinary volatility swings on the share prices of banking stocks in particular…….. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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