Market Wrap: All-Share Index climbs to 103,648 points as WEMABANK leads gainers
The Nigerian stock market demonstrated remarkable resilience on January 6, 2025, as the All-Share Index (ASI) rose by 61.91 points, closing at 103,648.24. This increase reflects a modest gain of 0.06%...
View ArticleForex stability sparks optimism for increased investment in Nigeria’s telecom...
Stakeholders in Nigeria’s telecommunications sector are anticipating more investments this year on the back of the relative stability recorded in the forex market towards the end of 2024. The post...
View ArticleBitcoin Mining companies raise over $3.7 billion in funding to counter rising...
Bitcoin mining companies are securing billions in fresh funding to deal with challenges posed by high energy costs and increased competition. The post Bitcoin Mining companies raise over $3.7 billion...
View ArticleCoinSwitch exchange announces recovery program for victims of $230 million...
Ashish Singhal, CEO of Indian exchange Coinswitch announced a recovery program aimed at helping victims of the $230 million WazirX cyberattack. The post CoinSwitch exchange announces recovery program...
View ArticleNigerian stock market dips 0.24%; RT Briscoe leads losers, ABBEYBDS gains
The Nigerian stock market, tracked by the All-Share Index, experienced a downturn on January 7, 2025, closing lower by 249.42 points at 103,398.82. The post Nigerian stock market dips 0.24%; RT...
View ArticleNaira marginally lower against strong U.S. Dollar
The naira settled marginally lower in the official market on Tuesday amid high demand for the safe-haven currency in global financial markets. The post Naira marginally lower against strong U.S. Dollar...
View ArticleChina’s currency hits 16-month low ahead of Trump’s inauguration
The Chinese Yuan weakened to a 16-month low on Wednesday, just ahead of the inauguration of US President-elect Donald Trump. The post China’s currency hits 16-month low ahead of Trump’s inauguration...
View ArticleEthiopia to open stock exchange after 50 years, reveals how much it will make...
Ethiopia is set to open a stock exchange after a 50-year absence, aiming to attract both domestic and international investors. The post Ethiopia to open stock exchange after 50 years, reveals how...
View ArticleHoneywell Flour Mills gains 32% MTD in early January following brand relaunch...
Shares of Honeywell Flour Mills Plc have climbed 32% month-to-date, making it the top-advancing consumer goods stock on the Nigerian Exchange so far in early January. The post Honeywell Flour Mills...
View ArticleMarket Wrap: All-Share Index shatters the 104,000-barrier as MTN, TRANSCORP,...
The Nigerian All-Share Index concluded the trading day on January 8, 2025, with a notable rise, climbing by 831.91 points to settle at 104,230.73. This strong performance surpassed the 104,000 mark,...
View ArticleCBN secures N1.47 trillion in subs for 364-day Treasury Bills @22.6% stop rate
The Central Bank of Nigeria (CBN), on behalf of the Debt Management Office (DMO), has revealed a 283.42% oversubscription worth N1.47 trillion for the 364-day Treasury Bills at the auction on January...
View ArticleHershey Co. scrambles to stockpile cocoa in early 2025 amid supply fears
Candy and chocolate giant Hershey Co. is seeking CFTC approval to buy a large amount of cocoa on the New York exchange to hedge against supply problems that might linger in 2025. The post Hershey Co....
View ArticleMarket Wrap: Nigerian stock market hits N64 trillion cap as MTNN and...
The Nigerian stock market, tracked by the All-Share Index, ended the trading day on January 9, 2025, with a significant gain of 1,300.01 points, closing at a record high of 105,530.74. The post Market...
View ArticleNaira muted in black market, U.S. jobs data takes spotlight
The naira was muted in the last trading session of the week, while the greenback reached a two-year high as currency traders braced for a strong nonfarm payroll reading. The post Naira muted in black...
View ArticleChina to consider expanding currency swap agreement with Nigeria
China has expressed its willingness to consider Nigeria's request to expand its currency swap agreement and plans to issue panda bonds. The post China to consider expanding currency swap agreement...
View ArticleTinubu to China: Increase $50 billion aid package for Africa, expand $2...
President Bola Ahmed Tinubu has called on the People’s Republic of China to increase its $50 billion aid package for Africa and expand the $2 billion currency swap agreement between Nigeria and China...
View ArticleETFs outperform underlying indexes in 2024: A good hedge in 2025?
In 2024, Exchange-Traded Funds (ETFs) on the Nigerian Exchange (NGX) delivered impressive returns, outperforming their underlying indexes and offering investors an alternative to individual stock...
View ArticleSudan introduces new banknotes to revive war-torn economy
The Sudanese government, in an effort to stabilize its crumbling economy, has introduced new banknotes and compelled the largely unbanked population to open bank accounts. The initiative, launched in...
View ArticleMTN Nigeria stock climbs over 20% month-to-date, eyeing N280 amid capital...
Shares of MTN Nigeria have soared by over 20% month-to-date in early January, with market activity exceeding 13 million shares traded. The post MTN Nigeria stock climbs over 20% month-to-date, eyeing...
View ArticleMarket Wrap: All-Share dips 0.08% as SUNUASSUR declines, CILEASING leads...
The Nigerian All-Share Index (ASI) closed slightly lower on January 10, dropping by 79.68 points to end at 105,451.06. This represents a 0.08% decline from the previous day’s close of 105,530.74....
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