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Daily Business News Brief – January 16th, 2024

16
Jan

Bulls sustain dominance as index rises by 1.92 per cent – Guardian
The bulls maintained dominance at the reopening of transactions yesterday on the equities sector of the Nigerian Exchange Limited (NGX)as increased demand for Geregu Power Plc and 67 others lifted the All-Share Index (ASI) by 1.92 per cent.
At the close of transactions yesterday, the index gained 1,597.93 points, representing a gain of 1.92 per cent to close at 84,640.89 points. Also, market capitalisation rose by N875 billion to close at N46.317 trillion…………………………….. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Nigeria’s inflation ends 2023 at 28.9% as naira anxiety worsens outlook
•.Food inflation nears 40 per cent
• Economists urge govt to tackle FX volatility
• Experts see gradual easing, bank on reforms – Guardian
Nigeria’s headline inflation closed 2023 slightly below the 30 percent market projected by many economists and research organisations, including KPMG.
But the slower increase, which puts the headline inflation at 28.92 per cent as per data released by the National Bureau of Statistics (NBS) yesterday, is not enough to calm the rising nerves over the outlook of general price change……. … …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Analysts caution investors on inflation – Punch
Some analysts have advised equity market investors to stick to stocks with strong fundamentals to weather the storm of persistently rising inflation.
The National Bureau of Statistics on Monday released the Consumer Price Index (inflation figure) for December which stood at 28.92 per cent from 28.20 per cent in November 2023. This signified a 0.72 percentage point increase when compared to November 2023…… ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Transcorp Hotels crosses N1tn capitalisation – Punch
Hospitality business, Transcorp Hotels Plc, has joined the elite club of companies worth N1tn in market capitalisation on the Nigerian Exchange Limited.
The PUNCH findings earlier this month had revealed that Transcorp Hotels Plc offered investors a bigger return on investment in terms of capital gain, compared with other stocks listed on the Nigerian Exchange Limited in 2023.., ….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Access Holdings completes acquisition of Megatech Insurance Brokers – Vanguard
Access Holdings Plc has successfully completed the acquisition of Megatech Insurance Brokers Ltd, having secured all the necessary regulatory nods. 
The bank said in a press statement filed with the Nigerian Exchange Limited (NGX) that the strategic move aligns with its vision to expand its offerings and create a globally connected community inspired by Africa………. . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
LivingTrust Mortgage Bank repays N950m loan to DBN – Punch
LivingTrust Mortgage Bank Plc has fully repaid an N950m MSMEs grant to the Development Bank of Nigeria two months ahead of the due date.
DBN disbursed the N950m MSMEs fund to the bank on March 1, 2021, for a tenor of 36 months, with the facility expected to lapse on March 1, 2024.
However, LivingTrust Mortgage Bank successfully paid off the grant two months earlier in January 2024……… . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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