Category: Capital Market

    As the effects of CBN’s recent policies Open Market Operations (OMO) continue to spur capital market activities, investors’ positive sentiment in the equities market this week drove the domestic bourse to its largest weekly gain since the week of the August 23, 2019.   The NSE All-Share Index and Market Capitalisation both appreciated by 2.04 per cent to close last week at 26,851.68 and N13.071 trillion respectively.   Similarly, all other indices finished higher with the exception of NSE Insurance and NSE Oil/Gas indices which declined by 0.56…

Read More

The Nigerian Stock Exchange (NSE) and Luxembourg Stock Exchange (LuxSE) have signed a Memorandum of Understanding (MoU) to cooperate in promoting cross listing and trading of green bonds in Nigeria and Luxembourg. The announcement was made at the signing ceremony led by NSE CEO, Oscar Onyema, and LuxSE CEO, Robert Scharfe. The event took place yesterday during the annual meeting of the World Federation of Exchanges in Singapore. The MoU further established an agreement for the two exchanges to collaborate with a view to sharing best practices and organising joint…

Read More

The Nigerian equities market yesterday tumbled for seventh consecutive trading day as sell pressure remains unabated, producing 15 losers against 12 gainers. Key market indicators, the NSE ASI, declined by 0.79 per cent as bargain hunters remained on the sideline, following growing investment apathy. Consequently, the All-Share Index dipped 210 basis points or 0.79 per cent to close at 26,598.94 as against 26.809.92 recorded the previous day while market capitalisation of equities depreciated by N102 billion or 0.79 per cent to close at N12.948 trillion from N13.050 trillion. Meanwhile, a…

Read More

  A global benchmark for sustainability in business, the 2019 Dow Jones Sustainability Index, has rated Coca-Cola HBC as Europe’s most sustainable beverage company.   This is the 6th time in seven years that the company has been ranked number one in the index and the 9th year in a row that it has been ranked in the top three Global and European beverage companies.   According to a statement signed by Ekuma Eze, Public Affairs and Communications Director, Nigerian Bottling Company (NBC) Limited, the breakdown for this new rating,…

Read More

    Helios Towers plc yesterday confirmed its intention to proceed with an initial public offering of the ordinary shares of the company.   This follows the announcement by Helios Towers Limited on September 12, 2019 regarding the publication of a registration document.   The company intends to apply for admission of the shares to the premium listing segment of the Official List of the Financial Conduct Authority (FCA) and to trading on the main market of the London Stock Exchange plc (LSE).   Admission will be subject to the…

Read More

    The Nigerian equities market yesterday reversed the previous day’s positive sentiment to record a decline of 0.13 per cent as sell pressure by speculators heightened in quest of profit taking.   This was majorly impacted by sell down on financial services stocks.   Conversely, market breadth closed positively, recording 23 gainers as against 16 losers.   Consequently, the All-Share Index dipped 35.46 basis points or 0.13 per cent to close at 27,646.15 index points as against 27.681.61 recorded the previous day while market capitalisation of equities depreciated by…

Read More

    Intensifying trade conflicts have sent global growth momentum tumbling toward lows last seen during the financial crisis, and governments are not doing enough to prevent long-term damage, the Organisation for Economic Cooperation and Development (OECD) has said in its latest outlook.   The Paris-based organisation cut almost all economic forecasts it made just four months ago, as protectionist policies take an increasing toll on confidence and investment, and risks continue to mount on financial markets. It sees world growth at a mere 2.9 per cent this year.  …

Read More

South Africa’s central bank left its main interest rate on hold at 6.5 per cent yesterday as expected, saying it would like to see inflation expectations anchored closer to the midpoint of its target range.   The decision by the bank’s monetary policy committee was unanimous.   South Africa has seen benign inflation outcomes this year, but growth has been sluggish. That has piled pressure on President Cyril Ramaphosa, who has staked his reputation on lifting the economy out of a deep slump.   The South African Reserve Bank left…

Read More

  The African Development Bank (AfDB) has been recognised for procurement excellence by the Chartered Institute of Procurement & Supply (CIPS), the world’s largest professional body for procurement and supply management professionals, with offices all over the world including Africa.     The bank was awarded a silver award at advanced standard level following the CIPS Procurement Excellence Programme, for having successfully developed  its corporate procurement processes from an operational focus to managerial and strategic, building performance, capability and value.   The bank is the first multilateral development bank in…

Read More

  QuickCheck, an online banking and micro-lending platform that provides collateral-free loans, has launched a new app to improve financial inclusion among Nigerians.   It also educates borrowers about financial instruments and managing risky debts.   About 60 per cent of the country’s adult population remains financially excluded, lacks credit history and cannot access financial services such as quick and easy loans.   According to Luis Rodrigues, CTO, QuickCheck, this was addressed in 2017 as the company developed a solution to give Nigerians access to such loans anywhere and anytime,…

Read More