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Daily Business News Brief – February 12th, 2024

12
Feb

High yield in fixed income instruments halts Bull Run at equities market – Guardian
A turnover of 2.4 billion shares worth N47.9 billion was recorded in 54,982 deals by investors on the floor of the exchange last week.
The volume was lower than 3.893 billion units valued at N95.1 billion that exchanged hands in 69,117 deals the previous week.
Similarly, sell pressures in BUA cement (-10 per cent) and MTNN (-5.2 per cent) depressed the All-Share Index and market capitalisation by 2.4 per cent to close., ………………………………………. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
‘Outlook for Nigerian capital market positive’ – TheNation
Nigerian capital market will sustain its positive trajectory this year, in spite of expected volatilities in the global and domestic macroeconomic environment.
In its report titled “Nigeria Economic and Financial Markets Outlook 2024”, United Capital stated that the outlook for the Nigerian capital market remains positive, expressing optimism that the market could record its fifth consecutive positive return…………………,…………………………………………….. … …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Dangote Cement, Airtel, 12 Others Contributed N47.34tn to NGX Market Cap in January – Thisday
As the Nigerian stock market continue to sustain its positive rally in 2024, it has emerged that only 14 companies out of over 150 listed firms on the Nigerian Exchange Limited (NGX) contributed about 85.52 per cent or N47.34 trillion to the market capitalisation in January. 
Most of these stocks appreciated significantly in January to push the overall market capitalisation to N55.358 trillion as of January 31, 2024… ………………………………………………………………………………………….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Insurer declares 26% growth across market indices in 2023 – Guardian
An underwriting firm, Linkage Assurance Plc, said despite the economic situation that characterized the financial year ended December 2023, it recorded outstanding Gross Premium Written (GPW) growth of N16.33 billion, from N12.98 billion recorded in 2022.
The performance translates to a 26 per cent growth…………………………………………………, ….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
FTN Cocoa earned zero revenue in 2023 – Punch
One of Nigeria’s oldest cocoa companies, FTN Cocoa Processors, recorded zero earnings in 2023 due to its inability to engage in production because of working capital adequacy concerns.
This was indicated in its financial statements for the year ended December 2023 filed with the Nigerian Exchange Limited recently…………………………………………………., ….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
PZ Cussons Records N74.14bn Loss  on FX Unification – Thisday
With about N87.08billion foreign exchange loss, PZ Cussons Nigeria Plc has announced N74.14billion loss in the second quarter of (Q2) 2024, representing a decline of N7.67billion reported in second quarter of (Q2) 2023.
The company in Q2 2023 announced N2.7billion foreign exchange loss in Q2 2023. 
The household company on the Nigerian Exchange Limited (NGX) reported N73.8billion loss……………………………………………….., ….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Geregu’s Revenue Hits All-time High Amid Demand  – Thisday
As consumer demand for electricity continued to grow, Geregu Power Plc reported its highest revenue growth in 2023 financial year that translated into a significant increase in profit and dividend payout to shareholders who invested in the company.
The electric power generating announced N82.91billion revenue in 2023, representing an increase of 74.11 per cent from N47.62billion reported in the 2022 financial year…………………………………………………, ….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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