Business Capital Market

Forex price upsurge weakens market prospects

Ihesiulo Grace 8 February 2017 0

The recent upsurge of foreign exchange prices in relation to the naira has continued to weaken market prospects as market value and equity prices sustained depressive trend and expected to attain new lows. Cross section of experts who spoke to Daily Times said that forex volatility not only

Business Capital Market

Investors move 347.8m shares as indices rise 0.05%

Ihesiulo Grace 8 February 2017 0

Stock market activities on Wednesday, took a positive turn, closing 0.05 percent higher than the previous day. Investors moved 347.8 million shares 67 percent higher than 207.2 million shares, sold previously, but the value of equities traded for the day dropped 13 percent to N1.4 billion from N1.6 billion. As a result, the All-Share Index appreciated […]

Business Capital Market

Stock market further declines by 0.55%

Ihesiulo Grace 8 February 2017 0

Investors yesterday transacted 207.2 million shares in 2,791 deals for N1.6 billion, as market capitalization dropped by N48.4 billion to close at N8.769 trillion, from N8.818 trillion which opened trading. The Nigerian Stock Exchange All-Share Index (ASI) depreciated by 0.55 percent to close at 25,446.66 basis points from 25,587.09 it opened for trading, bringing equities

Business Capital Market

Equities trading leaves investors N74bn poorer

Ihesiulo Grace 7 February 2017 0

The Nigerian Stock Exchange (NSE) continued on a downward trend yesterday as investors lost N74 billion for the market to close at N8.818 trillion.     The All-Share Index (ASI) declined 0.83 percent, ending the day at 25,587.09, from its 25,802.54 opening.   Investors transacted 152.4 million shares, 5 percent higher than 144.6 million shares […]

Business Capital Market

Jaiz Bank lists on NSE Thursday.

Ihesiulo Grace 7 February 2017 0

The Nigerian Stock Exchange (NSE) has confirmed the listing of Nigeria’s only Islamic Bank on Thursday, making it the third listing on the bourse this year. The Bank will on the same day also present to stakeholders, facts behind its listing. Jaiz Bank had earlier applied to the NSE to list by introduction 29.5 billion ordinary […]

Business Capital Market

Dufil Prima Foods quotes N4.5bn Commercial Paper Notes on FMDQ

Ihesiulo Grace 7 February 2017 0

FMDQ OTC Securities Exchange has admitted a N4.50 billion Commercial Paper Notes (CPs) quotation by Dufil Prima Foods Plc., aimed at improving the company’s liquidity. FMDQ said on Sunday in a statement obtained by the News Agency of Nigeria (NAN) in Lagos that the CPs quotation followed the approval of the FMDQ Board Listings, Markets and […]

Business Capital Market

Academy Press Q3 result shows 11% decline in revenue

Ihesiulo Grace 7 February 2017 0

The worsening economic downturn and challenged operating environment in the country has again been manifested in the 2016 Academy Press financial results. The third quarter result ended December 31, 2016, released by the Nigerian Stock Exchange (NSE) showed that revenue recorded by the company dropped 11 percent to N1.38 billion, from N1.54 billion in the […]

Aviation Business Capital Market

Sirika lauds NSE, solicits private investment in aviation

Ihesiulo Grace 6 February 2017 0

The minister of state for aviation, Hadi Sirika, has lauded the Nigerian capital market for providing the enabling platform for corporate bodies to be availed of greater opportunities and positioned for better performance. The minister also called on the private sector to take advantage of the opportunities provided by the federal government and the aviation […]

Capital Market

Investors lose N185.3bn in January

Ihesiulo Grace 2 February 2017 0

The Nigerian Equities market recorded a turnover of 8.12 billion shares worth N47.7 billion in 61,515 deals in January 2017, in contrast to a total of 4.6 billion shares valued at N31.8 billion exchanged during the month of January 2016 in 50,531 deals.   The Financial Services sector was the most active in volume terms, […]

Capital Market

Forte Oil profit down 50 percent in 2016

Ihesiulo Grace 2 February 2017 0

Forte Oil Plc has reported N2.9 billion net profit for 2016, exactly half its achievement in 2015. Profit before tax also slipped 24 percent to N5.3 billion in 2016 as against N7 billion recorded in 2015. The company’s revenue for the period under review was N148.6 billion, up 19 percent from N124.6 billion previously.   […]

Capital Market

Medview tops trading as market drops 0.51 percent

Ihesiulo Grace 2 February 2017 0

The equities market dropped for the third consecutive trading session to record a decline of 0.51 percent yesterday.   ‎Investors’ optimism measured by market breadth was negative as there were just nine gainers in the face of 27 losers.   Consequently, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) and Market Capitalization shed 0.51 percent, […]

Business Capital Market

AIICO, UBA, Forte lead market turnover as investors lose N37 billion

Ihesiulo Grace 31 January 2017 0

Equities trading on the Nigerian Stock Exchange (NSE) closed the first trading day of the week on a negative note as lead market indices fell by 0.42 percent. This was as the day’s activity table was driven by AIICO which traded 56.8 million shares for N34.1 million, followed by Transcorp with 16.1 million units worth […]

Business Capital Market

SEC recovers investor’s N1.5m shares illegally sold

Ihesiulo Grace 30 January 2017 0

The Securities and Exchange Commission  (SEC), through its investor protection initiatives, has recovered N1.5 million for an investor, Rev. Fr. Samuel Ukeje, whose shares were illegally sold. A statement issued by the commission on Sunday stated that Ukeje, who resides in Italy, bought the Guaranty Trust Bank shares eight years ago through Cashville Investment and

Business Capital Market

PZ Cussons 2Q 2016 earnings boost hedge PBT/PAT losses

Ihesiulo Grace 30 January 2017 0

The second quarter unaudited result of PZ Cussons Nigeria Plc recently released by the Nigerian Stock Exchange which showed growth in earnings has generated mixed feelings The result for the period ended November 30th, 2016 showed that Profit before Tax (PBT) and Profit after Tax (PAT) grew by 231 percent over a year’s period and […]

Business Capital Market

SEC, NSE charge 50 new authorized dealing clerks on integrity

Ihesiulo Grace 30 January 2017 0

In its pursuit to deepen professionalism and market vibrancy, the Nigerian Stock Exchange (NSE) has inducted 50 newly qualified authorized dealing clerks, out of the 57 that sat for the qualification examinations. Both the Securities and Exchange Commission (SEC) and the NSE charged the new brokers to comply with operating standards, serve as good ambassadors […]

Business Capital Market

Equities Market advances 0.40 percent as investors stake N18.8 billion

Ihesiulo Grace 29 January 2017 0

The Nigerian Stock Exchange (NSE) All-Share Index and Market Capitalization appreciated by 0.40 percent to close the week at 26,328.22 and N9.059 trillion respectively, as all other Indices finished higher during the week with the exception of the NSE Premium Index that slipped 0.13 percent while the NSE ASem Index closed flat Unity Bank led […]

Business Capital Market

Guinness Nigeria N9.94 billion inventory reflects inability to push sales…Analysts

Ihesiulo Grace 27 January 2017 0

Irrespective of Guinness Nigeria’s rise in revenue to N59.49 billion in half-year 2017 from ₦49.83 billion in Q2 2016, analysts have expressed concern on the company’s 52.92 percent rise in inventory. The company’s earnings update for Q2 ended 31 December 2016 recently released by the Nigerian Stock Exchange (NSE) which showed a positive  growth  of  19.37

Business Capital Market

ASHON appeals to SEC on behalf of suspended members

Ihesiulo Grace 27 January 2017 0

….Raise issues on amended SEC Rules The Association of Stockbroking Houses of Nigeria (ASHON) has appealed to the Securities and Exchange Commission (SEC) on behalf of dealing members suspended for inability to meet new capital base and the minimum operating standards (MOS). The appeal was made in SEC’s office Abuja recently when the newly elected […]

Business Capital Market

Stock Market sustains gains by 0.19 percent

Ihesiulo Grace 27 January 2017 0

The stock market yesterday sustained growth achieved in the previous session as the All-Share Index (ASI) and market capitalization appreciated 0.19 percent. The lead market indicator chalked up 49.5 points to close at 26,289.95, strengthening the growth of 22.91 points recorded on Wednesday when the ASI closed at 26,240.45. Market capitalization gained N17 billion

Capital Market News

Nigerian Breweries under Police Investigation

Ihesiulo Grace 26 January 2017 0

Nigerian Breweries (NB) has said its top management staff have been invited to the Force Headquarters (Police), Abuja for questioning based on a petition.   The company in a statement to the Nigerian Stock Exchange (NSE) on Wednesday said “The petition was written by the lawyers of TMDK Oil Traders (TMDK) to the Attorney General of the Federation […]