The Nigerian Stock Exchange is now among some of the worst performing stocks globally.This is according to data compiled by Bloomberg.The bourse had been listed as one of the top five best-performing stocks globally at the end of 2017 by S&P Dow Jones Indices.At the end of 2017, the Nigerian Stock Exchange grew by 43%, a feat S&P Dow Jones [...]
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Investors on the Nigerian Stock Exchange lost N287 billion in the five trading hours of Friday; a move that saw market capitalisation drop below the N13 trillion mark.The last time the market experienced a loss of this magnitude was on August 15, 2017.The All-Share Index lost 786.19 points or 2.17 per cent to close at 35,446.47 compared with 36,232.66 on [...]
The Nigerian Stock Exchange has suspended trading on shares belonging to Paints and Coating Manufacturers Plc.According to a circular released by the bourse on Wednesday, the suspension is to allow the company determine which shareholders are qualified to receive scheme shares ahead of the company's voluntary delisting.According to NSE regulations, quoted companies can choose to voluntarily delist their shares for [...]
The Nigerian Stock Exchange (NSE) has lifted an 18-month suspension placed on shares belonging to Ikeja Hotel since November 10, 2016.According to a ‘facts behind the restructuring’ document released by Tinuade Awe, NSE executive director, regulation, trading would commence on the shares of the company on May 21.NAN reports that the shares were suspended because of a dispute among major [...]
The Securities Exchange Commission (SEC) says companies may raise as much as N200 billion from the sale of debt instruments in 2018.If actualized, this would be the highest ever in the country's history.According to SEC, five companies have already submitted plans for debt sales totaling N60.5 billion.It said improved liquidity on the Nigerian Stock Exchange and FMDQ OTC Securities Exchange [...]
The Nigerian Stock Exchange (NSE) has lifted the technical suspension on Oando's shares for the second time in 48 hours.In a statement released on Wednesday, NSE said the instructions from the Securities and Exchange Commission was the root of the confusion.According to the statement, NSE received notification from the commission to lift the suspension on Oando shares only to receive [...]
Rob Shuter, the chief executive officer of MTN, says the company will list on the Nigerian Stock Exchange in 2018 if the conditions are appropriate.Shuter made this known on Tuesday while speaking in Lagos after signing a partnership on mobile banking with Ecobank.Listing on the NSE had been one of the conditions stipulated by the Nigerian Communications Commission (NCC) after MTN [...]
Shareholders of Lafarge Africa Plc, listed as WAPCO on the Nigerian Stock Exchange (NSE), on Monday traded off shares of the company on the news of a loss.In its annual statement released on the NSE, the company announced a loss of N34 billion before tax and N34.6 billion after tax for Q4 2017.This is lower than the N16.8 billion profit [...]
The naira remained stable on Tuesday despite losses recorded on the Nigerian Stock Exchange and global crude oil market.The naira appreciated against the dollar to exchange at N361/$ against Monday's exchange price of N363 to the dollar.The gain can be attributed to weekly interventions by the Central Bank of Nigeria (CBN) to make forex available to various segments of the [...]
John Bray, consulate general of the United States Consulate in Lagos, visited the Nigerian Stock Exchange (NSE) on Monday to get familiar with the market.Bray also rang the bell to mark the end of trading.In his address, the consulate general said the progress of Nigeria is good for the progress of US businesses.The NSE was ranked among the top five [...]
The house of representatives on Wednesday passed a bill allowing the Nigerian Stock Exchange become a publicly listed company.The process, which is called demutualisation, allows the bourse sell shares to investors and be listed on the exchange for trading.This makes the NSE join the league of Johannesburg Stock Exchange and Nairobi Stock Exchange, which are already publicly listed companies.The bill [...]
Investors have lost N252 billion on the Nigerian Stock Exchange in the two trading sessions after the monetary policy committee meeting was cancelled.The meeting was called off due to the inability to form a quorum. The senate has refused to confirm nominees to replace retired members of the committee.In July 2017, the senate said it would not confirm federal appointees until [...]
Market capitalisation on the Nigerian Stock Exchange crossed N16 trillion at the close of trading on Wednesday, the first time the market would hit such.Also, the All-Share Index rose by 830.52 points or 1.89 percent to close at 44,885.24 compared with 44,054.72 achieved on Tuesday.Mobil Oil led the gainers’ table with N16.50 to close at N216 per share. Dangote Cement came [...]
For the first time in the history of the Nigerian Stock Exchange, market capitalisation stood at N14.38 trillion at the end of trading on Tuesday.Market capitalisation the bourse has crossed the N14 trillion mark three times in the history with the first time being on June 14, 2014; 53 years after NSE trading started.All Share Index also closed above 40,000 points [...]
S&P Dow Jones Indices has listed the Nigerian Stock Exchange (NSE) as one of the best five stock exchanges globally.CNNMoney reports that other stock exchanges listed alongside the NSE were Buenos Aires Stock Exchange of Argentina, The Stock Exchange of Hong Kong Limited, Borsa İstanbul of Turkey and New York Stock Exchange of the United States of America."The value of public [...]
The federal government, through the Debt Management Office (DMO), has launched a N10.69 billion Green bond to fund clean energy projects in the 2017 budget.The bond has a 5-year tenor and an interest rate of 13.45 percent.Subscription for the bond opened on Monday, December 18 and will close on Wednesday, December 20.Although Kenya announced plans to float a Green bond [...]
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