Business Capital Market

Linkage Assurance profit down 5.5 percent in 9’M 2016

Ihesiulo Grace 7 January 2017 0

Linkage Assurance has released its interim financial statements, for the period ended 30th September 2016, showing a profit of N616.1 million. The profit represents a 5.5 percent decline from N651.8 million posted as profit for the corresponding period of 2015. The results released on the

Business Capital Market

Transactions value up 98 percent in bearish week

Ihesiulo Grace 7 January 2017 0

The equities market went up 98 percent in total value traded in the first trading week of the year 2017, despite the week being largely bearish. The week had only four trading sessions out of which the first three sessions closed in negative territory, while the last trading day (Friday) closed up, though with a […]

Business Capital Market

FMDQ Hosts Quotations Ceremony for ₦35.00 billion Access Bank Commercial Paper Notes

Ihesiulo Grace 6 January 2017 0

FMDQ OTC Securities Exchange (FMDQ or the OTC Exchange) commences the year’s activities with the commemoration of the admittance and quotation of the Access Bank PLC N8.45 billion Series 1, N4.22 billion Series 2 and N22.33 billion Series 3 Commercial Paper (CP) Notes under its N100.00 billion CP Programme on the OTC Exchange. The commemoration, in the […]

Business Capital Market

Access Bank Board Reviews Financial Statements for 2016

Ihesiulo Grace 6 January 2017 0

The board of directors of Access Bank Plc has concluded a plan to consider and approve the bank group audited financial statements for the year ended December 31, 2016. A statement from the company said the meeting which is scheduled for Thursday, January 26, 2017, will also consider other agenda items, including payment of final dividend. […]

Business Capital Market

Equities market decline for third straight day records loss of N139.3bn

Ihesiulo Grace 6 January 2017 0

Nigerian Equities market closed in red yesterday for the third consecutive session of the week and the year 2017. The bearish run now costs N139.3 billion lost by investors in three days. Tracking the performance of the market, equities descended further as the Nigerian Stock Exchange’ All-Share Index (NSEASI) and Market Capitalization dropped 1.07 percent The ASI shed

Business Capital Market

Firm advises hedging against dollar risk

Ihesiulo Grace 5 January 2017 0

A capital market services provider, Infoware, has urged investors to ensure that dollar risks are hedged this year in order to secure superior investment advantage.   The investment history in the country, according to Infoware, has shown that the better-performing equities can vary from year to year, hence difficult to predict. “However amidst the obvious […]

Business Capital Market

Higher yield for long-term over short-tenor bonds

Ihesiulo Grace 5 January 2017 0

Trends in the debt instrument market have shown that long-term instruments are generating higher yields than short-term bonds, reflecting market sentiments at the beginning of the year. The market sentiment which ushered in trading for the year reflected that investors were largely bearish in the bond market as yields trended upwards across the curve.   […]

Business Capital Market

Market capitalization sheds 0.46 percent for N9.12tr close

Ihesiulo Grace 5 January 2017 0

The equities market yesterday further declined at the close of trading as benchmark index plunged by 0.46 percent. The All-Share Index (ASI) closed at 26,495.04, shedding 121.85 from the previous closing figure of 26,616.89. Market capitalization dropped N41.9 billion to settle at N9.116 trillion. Investors traded 602.0 million shares valued at N1.2 billion in 2,150 deals,

Business Capital Market

Vitafoam reduces losses by 55.5 per cent in FY 2016

Ihesiulo Grace 4 January 2017 0

…recommends 12 kobo dividend Vitafoam Nigeria Plc has released its 2016 financial results, announcing a loss after tax of N32 million for its financial year ended 30th September 2016. The loss represents a 55.5 percent reduction from N72 million recorded as loss after tax for the same period of 2015. The company’s results released by […]

Business Capital Market

NSE: Forte Oil emerges worst performing stock in 2016, drops by 74.42%

Ihesiulo Grace 4 January 2017 0

Forte Oil Plc. has emerged the worst performing stock in 2016 in percentage terms having dropped by 74.42 percent, the News Agency of Nigeria (NAN), reports. Statistics obtained from the Nigerian Stock Exchange for the period showed the stock which in 2016 was worth N330 depreciated by 74.42 per cent to close trading at N84.43 […]

Business Capital Market

Forte Oil displaces Lafarge Wapco from NSE Islamic Index

Ihesiulo Grace 4 January 2017 0

The Nigerian Stock Exchange (NSE) yesterday announced the entry of Forte Oil to the NSE Islamic Index, displacing Lafarge Wapco. In the new index composition, Forte Oil replaces Lafarge Wapco in the NSE Lotus Islamic Index   The NSE had earlier released a review of the seven sectoral indices of the Exchange, stating the Lotus Islamic Index […]

Business Capital Market

Bourse begins year with N88.7bn loss

Ihesiulo Grace 4 January 2017 0

Nigeria’s stock market started the year 2017 on a low note, posting a loss of N88.7 billion on the first trading day of the year. This is in contrast to the positive momentum recorded in the last trading days of last week that ended the year 2016. After closing on 0.34 percent higher last Friday, […]

Capital Market

SEC probes N300mn complaints against Transglobe Investment & Finance

Ihesiulo Grace 3 January 2017 0

The Securities and Exchange Commission (SEC) is investigating various complaints of over N300 million against Transglobe Investment & Finance Company Ltd, a stockbroking firm. In a notice issued by the market’s apex regulator at the weekend, the SEC noted that a meeting with the Directors and sponsored Individuals of the firm has been scheduled in […]

Capital Market

Jaiz Bank, Medview Airline to list on NSE

Ihesiulo Grace 3 January 2017 0

Jaiz Bank and Med-View Airline have both received the approval of the Quotations Committee of the Nigerian Stock Exchange (NSE) to list their shares on the Exchange. In a report obtained by our correspondent, Jaiz Bank, Nigeria’s first non-interest bank, applied to the NSE to list by introduction 29.5 billion ordinary shares of 50 kobo […]

Capital Market

Budget implementation, others to shape stock market in 2017 – Analysts

Ihesiulo Grace 3 January 2017 0

As challenging as the nation’s stock market in 2016 was, analysts say that the situation for investors in the market could get tougher except the right policies are put in place. “As the market resumes for another year today, investors are already taking positions in the sectors the budget will touch but if we are […]

Capital Market

SEC, CBN outline guidelines for securities settlement

Ihesiulo Grace 1 January 2017 0

The Securities and Exchange Commission (SEC) and the Central Bank of Nigeria have introduced guidelines on securities settlements in Nigeria. According to the regulators, the guidelines are outlined to promote competitive, efficient, safe and sound post trading arrangements in the Nigerian financial market. The guidelines set to promote and facilitate the development of

Capital Market

FMDQ lists Vetiva S&P Exchange-Traded Fund

Ihesiulo Grace 1 January 2017 0

FMDQ OTC Securities Exchange has admitted  10 million units of the Vetiva S&P Nigerian Sovereign Bond Exchange Traded Fund (“VS&P ETF”) on its platform. It becomes the second fund to be listed on the OTC Exchange, following the Greenwich Plus Money Market Fund. FMDQ, in a statement, said: “The listing of the VS&P ETF will […]

Capital Market

Stock Market closes final trading week up 1.47 percent

Ihesiulo Grace 1 January 2017 0

Stock market activities for the final trading week of the year 2016 ended on a strong note, recording a growth of 1.47 percent to sustain the positive thrust noted for most of November and December. The upward performance thus reduced the market’s negative year-to-date returns to -6.17 percent for the 2016 financial year. The Nigerian […]

Business Capital Market

Experts tie stock market performance to budget implementation

Ihesiulo Grace 29 December 2016 0

Some financial experts have said that early passage and implementation of the 2017 budget will determine the performance of the Nigerian Stock Exchange (NSE). According to them, the implementation of the 2017 budget, especially the capital market component has the potential to turn around stock market performance in 2017. One of the experts, Dr. Uche […]

Business Capital Market

Ten stock broking firms move 84 percent of total value

Ihesiulo Grace 29 December 2016 0

Stanbic IBTC Stockbrokers, FBN Securities, and eight other stock broking firms moved N29.6 billion worth of stocks representing 83.5 percent of the total value of stocks traded on the Nigerian Stock Exchange (NSE) last week. The other brokers were Chapel Hill Denham Securities, GTI Securities, CSL Stockbrokers, Rencap Securities, Cordros Capital, Apel Asset, Cardinal Stone