Capital Market

West African Securities Regulatory Authorities to Establish Bond Issuing Framework

Ihesiulo Grace 4 March 2018 0

The West African Securities Regulatory Authorities (WASRA) is planning the establishment of a regional bond issuing framework for infrastructure financing in the region. This was one of the high points of the meeting of the body held in Abidjan, Côte d’Ivoire last weekend. Also, the body is

Business Capital Market

Seplat reports 318% boost in 2017 yoy sales

Ihesiulo Grace 3 March 2018 0

Seplat oil development company plc has shown strong recovery in profitability as Q4 sales rose by 318% y/y to US$174m while Q4 PBT of US$46m compares with a loss before tax of -US$85m in Q4 2016; tax credit of US$224m provided significant boost to profitability The result to a large extent, reflected positives from undisrupted […]

Capital Market

NSE partners UN to promote gender parity

Ihesiulo Grace 2 March 2018 0

For the fourth consecutive year, The Nigerian Stock Exchange, NSE, will join other global exchanges on March 8, 2018, to ring the bell for gender equality in celebration of the 110th International Women’s Day (IWD), at the Stock Exchange House, Marina, Lagos. Themed: “Press for Progress”, this edition of the celebration is aimed at motivating […]

Capital Market

Stock market begins in March with decline

Ihesiulo Grace 2 March 2018 0

The equities market started the month on a negative note, with the ASI closing lower by 1.12 per cent to 42,843.38, as investors took profit across major sectors. Accordingly, the Year-to-Date gain moderated to 12.03 per cent. The Industrial Goods, Banking, and Consumer Goods indices led the day’s decline with a 2.20 per cent, 1.14 […]

Capital Market

NSE: Foreign outflows rises by 126 per cent in one month

Ihesiulo Grace 1 March 2018 0

Foreign outflows from the Nigerian Stock Exchange (NSE) increased by 125.84 per cent from N33.05 billion to N74.64 bn in the space of just one month. This was revealed in the NSE’s January 2018 report on ‘Domestic & Foreign Portfolio Participation in Equity Trading.’ The increase was recorded between December 2017 and January 2018. The […]

Business Capital Market

Japaul price rises on back of new $350m fresh fund

Ihesiulo Grace 28 February 2018 0

Japaul Nigeria Plc has started reaping the benefit of its recent announcement on the injection of fresh $350million from foreign investors in the firm. Japaul Oil and Gas Nigeria Plc, recently announced that the company has entered into a binding commitment with Milost Global incorporated, an American equity firm, with head office in New York. […]

Business Capital Market

Nestle Nigeria sustains lead on gainers’ list

Ihesiulo Grace 28 February 2018 0

..as ASI drops by 0.66%. For the second day’s trading of the week the stock market remained bearish as key performance indices declined. The NSE All – Share Index declined by 0.66 per cent driven by profit taking, as investors in the Nigerian equities market transacted a total of volume of 438,651,434.00 shares against 258,284,447.00 […]

Business Capital Market

United capital proposes 35k dividend, fixes AGM for March 23

Ihesiulo Grace 28 February 2018 0

United capital Nigeria Plc has announced proposal of dividend of 35 kobo to shareholders whose names appear in the company’s register for the period before its closure for the consideration of 2017 financial year. According to the organization in its corporate action announcement signed by the company’s secretary, Leo Okafor, United Capital’s 35 kobo dividend […]

Business Capital Market

Royal Exchange commences closed period

Ihesiulo Grace 28 February 2018 0

Sequel to the consideration of its 2017 audited financial statements and consideration of corporate action for shareholders, Royal Exchange Nigeria Plc commenced its closed period on 27th February , 2018. Sheila Ezeuko, the group company’s secretary in a statement announced that the closed period which opens on 27th February and ends 24 hours upon submission […]

Business Capital Market

Unity Kapital enhances opportunities with new ED

Ihesiulo Grace 28 February 2018 0

Unity capital Assurance Plc has announced the appointment of a new executive director to further help drive the company to profitability. The new executive director, Mrs. Priya Heal, according to the statement signed by the company’s secretary/legal adviser, Halima Wushishi, is expected to bring her vast knowledge in corporate business to bear in the fortunes […]

Business Capital Market

African prudential proposes 40k dividend as PAT buoyed 68%

Ihesiulo Grace 28 February 2018 0

African Prudential Plc shareholders would be looking for expansion of their portfolio in the company based on remarkable performance year on year and return on investments, even as operating expenses remain upbeat. This was , as the company’s recently released 2017 audited financial statement showed a 68 per cent growth in profit after tax (PAT) […]

Business Capital Market

Expectation of sound earnings spurs market upsurge

Ihesiulo Grace 28 February 2018 0

The current upsurge in performance recorded by the equities market has been attributed by expectation of sound 2017 financial statements and rewarding corporate actions to be declared by companies for the 2017 financial year. A stock broker who spoke on condition of anonymity to Daily Times Nigeria said that investors are desirous of taking profit […]

Capital Market

Forex: Naira steadies at official, parallel markets

Ihesiulo Grace 26 February 2018 0

. Relapses at I&E FX window The Naira, at the close of trading activities on Wednesday remained steadied at the official foreign exchange spot market and the parallel segment, checks by The Daily Times has revealed. This is even as the local currency began yesterday trading low at N360.09 compared to N360.01 at the Investors […]

Capital Market

Nigerian Breweries announces final dividend of N3.13

Ihesiulo Grace 16 February 2018 0

Nigerian Breweries Plc has announced a final dividend of N3.13 per share for the year ended 31 December, 2017. The company’s register has been fixed for closure on 13th March 2018, for qualification to benefit from the proposed dividend as qualification date is fixed for March 6th 2018. The company had earlier paid interim dividend […]

Business Capital Market

Market reverses as NSE ASI gains 1.11%

Ihesiulo Grace 14 February 2018 0

The bearish run of the Nigerian equities market reversed on Wednesday as investors take new position for dividend payments in expectation of release of 2017 financial year results by listed companies. The equities market rebounded after seven consecutive sessions of losses, with the ASI appreciating by 1.11% to 42,171.80 points, following bargain hunting. Accordingly, the

Capital Market

Analysts retain underperform rating on Guinness Nigeria

Ihesiulo Grace 9 February 2018 0

A key market analyst has retained underperformance rating on Guinness Nigeria irrespective of buoyant performances the company posed in its recently released Q2 2018 result. FBNQuest Capital Limited in its recent rerk on the company’s performance e and forecast, maintained under performance rating, as good earnings were hedged by high operating and interest expenses.

Business Capital Market

CSCS unveils 3-year growth plan

Ihesiulo Grace 8 February 2018 0

….leverages technology for process optimization, profitability The Central Securities Clearing System (CSCS) Plc unveiled its three-year strategic plan that would leverage technology for process optimization and profitability in Lagos on Tuesday. Based on its previous two-year strategic plan from 2016 to 2017, CSCS recorded some major milestones, among which are the

Business Capital Market

Market sentiment sustains bearish run as ASI sheds 0.87%

Ihesiulo Grace 6 February 2018 0

… performance measuring indices post decline The Nigerian equities market for the second consecutive day of the week continued its downtrends yesterday, as NSE-ASI shed -0.87%, fortified by losses recorded by all market performance measuring indices, following the recent sell-off in major equities markets around the globe as well as the fall in oil price. […]

Capital Market

CBN boosts forex market with $100m as buoyancy continues at I&E window

Ihesiulo Grace 5 February 2018 0

For the week ended 2d February, 2018, the Central Bank o Nigeria further enhanced the foreign exchange market with the injection of USD210 million into the FX market, the fund comprised of USD100 million, USD55m, and USD555m disbursements to the wholesale, SMEs, and invisibles windows, respectively. However, the N305-306 official rate was rates was sustained […]

Capital Market

NOVA Merchant Bank boss eyes new opportunities

Ihesiulo Grace 2 February 2018 0

A newly licensed merchant bank, NOVA Merchant Bank Limited, has formally opened for operation with determination to support its clients tapping into new opportunities, through new thinking and effective usage of technology, the Chairman, Board of Directors of the bank, Mr. Phillips Oduoza, has disclosed. Speaking at the launch, held on Thursday ,1st of February […]