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Daily Business News Brief – February 27th, 2024

27
Feb

Nestle, Eterna drag equity market to N51bn loss – Punch
The Nigerian Exchange continued a bearish trend in the new week, losing N51bn due to the decline suffered by Nestle Plc, Eterna and Fidson Healthcare Plc.
Nestle Plc, Eterna and Fidson Healthcare Plc dipped by 10 per cent, 9.97 per cent and 9.82 per cent, respectively, to close at N990, N15.80 and N15.15 each…………………………………………… ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Foreign investors hit brakes on Nigeria over volatile naira – BusinessDay
Foreign investors are holding off on new investments into Nigeria until the naira finds some stability.
A fresh inflow of around $700 million was expected to come but that has now been suspended as investors grow cold feet and fear losses piling over the naira volatility.
“Foreign investors that thought the peak of the exchange rate would be N1,550/$ and came in have now picked mark-to-market losses on the currency. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
FBN Holdings emerges most capitalised bank – Punch
FBN Holdings has become the country’s most capitalised bank valued at N1.22tn, topping Guaranty Trust Holding Company and Zenith Bank.
At the close of trading on Monday, GTCO’s market cap stood at N1.16tn, and Zenith Bank was N1.11tn.
The PUNCH analysis revealed that FBN Holdings shares jumped by 56.68 per cent since billionaire businessman, Femi Otedola, assumed office as its chairman on January 31…. … ………………………………………………………………………………………….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
UBA Affirms Pledge to Stimulate African Economic Expansion – Thisday
United Bank for Africa (UBA) Plc has reaffirmed its unwavering commitment to spearhead economic growth across the continent through targeted policies aimed at maximizing the benefits derived from the mining and oil sectors.
To this end, the bank is poised to collaborate with the Economic Community of West Africa States (ECOWAS) towards implementing strategic initiatives that will not only attract investment………………………………………………………,….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. ……………. .., … .. .,……. .. …… . ….. . … …………….……..Read More
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