Equities Open Week Positive, Gain N47bn Monday

By Adedapo Adesanya Appreciation in the prices of three stocks saw the NASD Over-the-Counter (OTC) Securities Exchange closed with a 1.36 per cent rise on Friday, November 24 despite efforts by two equities to bring down the market. Aradel Holdings Plc recorded a N79.20 appreciation to sell at N871.20 per share compared to the previous day’s N792.00 per share, FrieslandCampina Wamco Nigeria Plc increased by N2.82 to close the day at N74.00 per unit versus Thursday’s closing price of N71.14 per unit, and UBN Property Plc jumped by 15 Kobo to finish at N1.65 per share, in contrast to the

By Dipo Olowookere Shares of MeCure Industries appreciated by 60.73 per cent last week on the floor of the Nigerian Exchange (NGX) Limited as investors began to see value in the company. Business Post reports that in the week, the price of the stock closed at N9.21 per unit compared with the preceding week’s N5.73 per unit, leading the gainers’ chart of 59 members, higher than 54 of the preceding week. On its part, Multiverse rose by 60.06 per cent to N5.81, Unity Bank improved by 57.26 per cent to N1.84, Secure Electronic Technology jumped by 52.78 per cent to

By Adedapo Adesanya  Nigeria’s economy, measured through its gross domestic product (GDP), witnessed a 2.54 per cent growth in the third quarter (Q3) of the year 2023. In a report published on Friday by the National Bureau of Statistics (NBS), the 2.54 per cent year-on-year growth in real terms in the third quarter of 2023 is higher than the 2.25 per cent recorded in the third quarter of 2022 and higher than the second quarter 2023 growth of 2.51 per cent. The bureau further said that the performance of the GDP in the third quarter of 2023 was driven mainly by

By Modupe Gbadeyanka Minister of State for Environment, Mr Ibrahim Usman Jibril, will today, Monday, June 19, 2017, commission the state/zonal office of National Environmental Standards and Regulations Enforcement Agency (NESREA) in Owerri, the Imo State capital. Ahead of the commissioning, the Minister arrived Owerri on Sunday alongside some members of the Ministry. On arrival, Mr Jubril led his team to the Government House in Owerri to meet with the Governor, Mr Rochas Okorocha. NESREA, a parastatal of the Federal Ministry of Environment, was created to ensure a cleaner and healthier environment for Nigerians. It has the responsibility for the

By Dipo Olowookere The further weakening of investor sentiment on the floor of the Nigerian Stock Exchange (NSE) extended the losses at the nation’s bourse to the fourth session this new year. Business Post reports that the market breadth (advance/decline ratio) stood at 0.4x on 14 stock advancing against 34 stocks that declined. At the close of transactions, the All Share Index (ASI) and market capitalisation depreciated by 0.80 percent each, with the year-to-date loss at 3.3 percent. While the ASI declined by 238.62 points to finish at 30,400.28points, the market capitalisation decreased by N89 billion to settle at N11.337

By Investors Hub Asian stocks closed mostly lower on Tuesday as oil prices extended declines for a second straight session, worries over the U.S.-China trade war persisted and investors looked ahead to Congressional testimony from Fed Chairman Jerome Powell for clues on the interest rate outlook. Chinese stocks fell for a third straight session, with energy firms pacing the declines. The benchmark Shanghai Composite Index dropped 15.42 points or 0.6 percent to 2,798.61. Hong Kong’s Hang Seng Index tumbled 357.98 points or 1.3 percent to close at 28,181.68. Australian shares fell as weak commodity prices weighed on resource stocks. The

By Modupe Gbadeyanka Governor Willie Obiano of Anambra State has presented a budget of N166.9 billion for the 2018 fiscal year. Mr Obiano, yesterday, presented the appropriation bill to the Anambra State House of Assembly and tagged it ‘Budget for Value for Money, Economic Diversification and Job Creation.’ He said it represents a 44 percent increase on the 2017 budget, stating that it comprises N63.9 billion for recurrent expenditure and N103.1 billion for capital expenditure. The Governor said in the proposal, road construction and rehabilitation got the highest allocation of N27.93 billion followed by education with N9.5 billion. “This budget

By Dipo Olowookere The Nigerian Stock Exchange (NSE) closed Friday’s trading bearish despite the rise in the volume and value transactions recorded. Losses recorded by some blue-chip stocks put the market underwater again by 0.68 percent, leaving the year-to-date returns to -8.88 percent. Business Post observed that there was a 35.24 percent improvement in the volume of equities traded at the market yesterday just as the value of shares exchanged rose by 184.21 percent. A total of 385 million equities worth N9.8 billion exchanged hands at the market on Friday compared with the 284.7 million units transacted on Thursday valued

By Adedapo Adesanya Oil prices rose more than $1 on Wednesday as the US Dollar slid to a six-week low after the Federal Reserve delivered an expected small rate hike. Brent crude futures rose by $1.37 or 1.8 per cent to settle at $76.69 a barrel, while the US West Texas Intermediate crude (WTI) ended $1.23 or 1.8 per cent higher at $70.90 per barrel. The US central bank policy-setting committee raised interest rates by another quarter of a percentage point in a unanimous decision on Wednesday, lifting its benchmark overnight interest rate to the 4.75 per cent-5.00 per cent

By Adedapo Adesanya Following Nigeria’s rollout of fifth-generation (5G) technology this year by MTN, opportunities opened for many to tap into the potential that it presents. On the back of this, phone maker, Xiaomi, is contributing to this by making its impressive 5G products accessible to Nigerians during this ember season. The National Digital Economy Policy and Strategy (NDEPS) emphasises how 5G the country can use digital technologies to realise its digital development agendas. With advanced and highly competitive 5G smartphones, its high-quality 5G compatible smartphones such as the Redmi Note 11 Pro+5G, Xiaomi 12 Pro, and Xiaomi 12T Pro,

By Adedapo Adesanya  PAC Capital Limited has assured its clients of high-quality advisory and fund arrangement services that will enhance their growth and expansion prospects. The firm made this assurance after its role as the lead financial adviser and fund arranger to Access Holdings Plc’s $300 million investment finance facility for its lending subsidiary, Access Bank Plc. The Managing Director of PAC Capital, Mr Humphrey Oriakhi, stated that the organisation was committed to ensuring it continues to support growth and expansion for its clients. “We are delighted to bring this landmark deal to a close for our client. This is