Local Market Economic Updates
Concrete roads: Cement price to hit N9,000, say manufacturers The Cement Producers Association of Nigeria has warned that the ongoing plan of the federal government to introduce concrete roads will raise the price of cement to N9, 000 per bag from the current price of N5,000…Read more Conoil to pay shareholders N1.73bn dividend Conoil Plc... Read More →
Nigeria’s Headline Inflation Prints 25.8% in August On FX Scarcity, High Transport Cost, Others
Headline Inflation As the global economies continue to battle accelerating inflation, the Nigeria Headline Inflation prints 25.80% in August 2023, 1.72% rise compared with 24.04% in July. According to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS), Nigeria’s inflation rate rose for Eight consecutive month, maintaining the highest rate... Read More →
Nigeria’s Headline Inflation Prints 25.8% in August On FX Scarcity, High Transport Cost, Others
Headline Inflation As the global economies continue to battle accelerating inflation, the Nigeria Headline Inflation prints 25.80% in August 2023, 1.72% rise compared with 24.04% in July. According to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS), Nigeria’s inflation rate rose for Eight consecutive month, maintaining the highest rate... Read More →
Nigerian Equities Market Nosedives as Investors Expect High Inflation Numbers, NGX-ASI Down 0.12%
Nigerian Equities Market closed bearish on Thursday as investors anticipates high inflation numbers. The NGX All-Share Index decline 12bps to close at 67,335.30 points from 67,414.40 points. The negative outing was due to profit-taking some blue-chip stocks such as NESTLE (-2.38%), GTB (-2.96%), FBNH (-1.67), and ZENITH (-2.51). Consequently, YTD returns declined marginally to closed... Read More →
Nigerian Bourse Bounces Back After Days Decline, NGX-ASI Up 0.98%
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Date13 Sep 2023
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Nigerian Equities Market recovered from two consecutive declines in the new week . The NGX All-Share Index advanced 98bps to close at 67,414.40 points from 66,760.20 points. The bullish performance was due to buy-sentiment in some blue-chip stocks, especially, in the Banking Sector, such as ACCESSCORP (9.97%), GTB (6.00%), UBA (9.78). Consequently, YTD returns closed... Read More →
Equities Market Extend Decline As Banking Stock Tumbles, NGX Shed 1.24%
Equities Market Extend Decline As Banking Stock Tumbles, NGX Shed 1.24% Nigerian Equities Market opened the week in the red as Banking Stocks slide backward. The NGX All-Share Index depreciated marginally by -1.24% to close at 67,296.18 points from 68,143.34 points. The bearish outing was as a result of profit-taking in some large-cap stocks in... Read More →
Local Market Economic Updates
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Date11 Sep 2023
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Fitch Affirms Union Bank of Nigeria PLC at ‘B-‘; Outlook Stable Fitch Ratings has affirmed Union Bank of Nigeria PLC’s (UBN) Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. Fitch has also affirmed the bank’s National Long-Term Rating at ‘BBB(nga)’ and assigned a Stable Outlook. UBN’s IDRs are driven by its standalone... Read More →
Nigerian Equities Market Point Southwards as Profit-taking Persist, NGX All-Share Index Lost 0.31%
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Date08 Sep 2023
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The Nigerian Equities Market closed in the red on Thursday as investors continue to harvest accumulated interest in some large-cap stocks. The NGX All-Share Index went down by 31bps to close at 68,082.11 points from 68,286.28 points. The bearish outing was partly attributed to profit-taking in some bellwether stocks such as DANGSUGAR (-3.98%) and DANGCEM... Read More →
Fitch places Gabon on ‘rating watch negative’ After Military coup
Fitch Ratings has placed Gabon’s ‘B-‘ Long-Term Foreign-Currency and Local-Currency Issuer Default Ratings (IDR) on Rating Watch Negative (RWN). The ‘B’ Short-Term Foreign- and Local-Currency IDRs and the ‘B-‘ issue ratings on Gabon’s long-term foreign-currency senior unsecured bonds have also been placed on RWN. Under applicable credit rating agency (CRA) regulations, the publication of sovereign... Read More →
Local Bourse Sustains Bullish Run as Bargain-Hunting in DANGSUGAR, BUAFOODS Stocks Persist, NGX All-Share Index Gained 8bps
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Date05 Sep 2023
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Bullish trek in the Nigerian Equities Market continued on Wednesday as Consumer Goods Stocks drag market to a positive close. The NGX All-Share Index appreciated marginally by 0.08% to close at 68,334.68 points from 68,279.14 points. The positive performance was attached to buy-sentiment in some large-cap stocks in the Consumer Goods Sector, such as DANGSUGAR... Read More →