Monday, November 12, 2018

Tag "Nigerian Stock Exchange (NSE)"

    CBN debits accounts of fined banks over MTN’s ‘illegal’ repatriation

CBN debits accounts of fined banks over MTN’s ‘illegal’ repatriation

The Central Bank of Nigeria (CBN) has debited the accounts of three banks in relation to the fine placed on them for allegedly helping MTN repatriate $8.1 billion illegally.In a notice sent to the Nigerian Stock Exchange (NSE), Stanbic IBTC said the deduction will not affect its capacity to handle clients’ requests or clients’ ability to continue to carry out [...]

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    NSE delists 22 companies for non-performance in two years

NSE delists 22 companies for non-performance in two years

The Nigerian Stock Exchange (NSE) delisted 22 companies between 2016 and 2017 for non-performance and failure to meet the required post-quotation standards.The delisted companies include Cappa and D’Alberto, Intercontinental Bank Preference shares, IPWA, G Cappa and West African Glass Industries.Others are Investment & Allied Insurance, Alumaco, Jos International Breweries, Adswitch, Rokanna, Vono Products, Lennards Nigeria, P.S. Mandrides & Company, Premier [...]

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    Confusion as NSE suspends Oando shares — after three hours of trading

Confusion as NSE suspends Oando shares — after three hours of trading

Investors and shareholders were left confused on Wednesday after Oando's shares were placed on technical suspension again after an announcement that it had been lifted.The shares had been placed on technical suspension during a disagreement between shareholders and the company's management.A letter seen by TheCable showed that the Nigerian Stock Exchange had notified Ayotola Jagun, the company's secretary, of the [...]

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    ANALYSIS: NSE loses N150bn after re-election news — but is Buhari to blame?

ANALYSIS: NSE loses N150bn after re-election news — but is Buhari to blame?

Trading on the Nigerian Stock Exchange ended in the red on Monday after President Muhammadu Buhari announced his re-election bid with large companies ending up as top losers.Unilever, Lafarge, Dangote Cement, Guinness and Dangote Flour were the top five losers on the market.Market capitalisation, which opened at N14.753 trillion, shed N150 billion to close at N14.603 trillion.Also, the All-Share Index [...]

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    NSE approves delisting of Seven-Up

NSE approves delisting of Seven-Up

The Nigerian Stock Exchange has approved the delisting of shares belonging to Seven Up Bottling Company.The company had filed an application to delist its shares from the bourse and end its 32-year journey as a publicly listed company.According to court order papers posted on the exchange's website, all shares belonging to Seven-Up will be transferred to Affelka SA.Affelka is the [...]

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    Nigerian Breweries is most traded stock as NSE gains

Nigerian Breweries is most traded stock as NSE gains

Nigerian Breweries Plc traded 68 million shares on the floor of the stock exchange market on Thursday to emerge the most traded share.The value of all the trading activity of the 68 million shares was put at N9.492 billion.At the end of trading, market capitalisation on the bourse recorded a gain of N77.08 billion to stand at N12.75 trillion.The market [...]

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    NSE partially lifts suspension on Oando’s shares

NSE partially lifts suspension on Oando’s shares

The Nigerian Stock Exchange (NSE) says it has partially lifted the suspension placed on shares belonging to Oando Plc.In a notice signed by Tinuade Awe, general counsel, head of regulation, NSE said shareholders can now trade their shares but the trading activity will not lead to a change in price."Dealing members are referred to our market bulletins of Wednesday, October [...]

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    NSE escapes 40-day low by whiskers

NSE escapes 40-day low by whiskers

But for last-minute trading that boosted the bourse on Monday, market capitalisation on the Nigerian Stock Exchange (NSE) would have ended on a record 40-day low, below N12 trillion.At 2pm on Monday, market capitalisation on the bourse stood at N11.97 trillion but rose to N12.02 trillion by the close of trading.The last time it closed below N12 trillion was on July [...]

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    NSE bleeds, sheds N435bn

NSE bleeds, sheds N435bn

For the second consecutive day, the Nigerian Stock Exchange (NSE) closed in the negative losing N435 billion after an initial loss of N294 billion on Tuesday.The market, which had a 35-month high, hitting N13 trillion ended in the red on Friday, to recover on Monday and begin the downward movement on Tuesday.Market capitalisation closed at N12,443,508,048,791 losing N435,608,813,894 as against Tuesday's closing [...]

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    NSE halts upward trend, loses N14bn

NSE halts upward trend, loses N14bn

The Nigerian Stock Exchange (NSE) closed on a negative note on Thursday, losing N14 billion, a reversal from the upward trend that has been recorded in the past weeks.On Tuesday, the market had hit a 35-month high as market capitalisation closed at N13 trillion.On Thursday, market capitalisation closed at N13,133,014,599,205.56 as against the 13,147,204,389,996.03 it closed at on Wednesday.Market breadth closed [...]

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    NSE hits N13trn mark — first time since 2014

NSE hits N13trn mark — first time since 2014

Market capitalisation on the Nigerian Stock Exchange appreciated by N164 billion or 1.27 percent to close at N13.097 trillion against N12.933 trillion it closed at on Monday.The last time market capitalisation hovered around N13 trillion was in September 2014 when the average market cap was N13.5 trillion.The all share index (ASI) also improved by 474.12 points to close at 37,999.50 [...]

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    NSE suspends 17 listed companies from trading

NSE suspends 17 listed companies from trading

The Nigerian Stock Exchange says it has suspended 17 listed companies from trading their shares in the bourse.In a statement signed by Godstime Iwenekhai, acting head, listings regulation department, NSE said the action was taken because the affected companies failed to submit some relevant documents.He said the suspension would be lifted when the documents are submitted."Dealing members are hereby notified [...]

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    Med-View airline to begin Lagos-Dubai flights in April

Med-View airline to begin Lagos-Dubai flights in April

Muneer Bankole, managing director of Med-View airline, says the airline will commence its Lagos-Dubai flights in April 2017.NAN reports that Bankole, who disclosed this while speaking to journalists on Friday, said that Med-View will expand its operations to three other West African countries: Senegal, Guinea and Ivory Coast.He added that the company would be floating an Initial Public Offering (IPO) in the [...]

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    We’ll only list on NSE when the conditions are conducive, says MTN

We’ll only list on NSE when the conditions are conducive, says MTN

There are indications that the MTN Group will not list the shares of its Nigerian unit on the Nigerian Stock Exchange (NSE), in 2017.This was made known by Phuthuma Nhleko, chief executive officer, at the annual meeting of the World Economic Forum in Davos, Switzerland."We see ourselves as a partner to governments in Africa because it is all about partnership," Nhleko [...]

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    AshakaCem plans NSE exit to avoid ‘unnecessary cost’

AshakaCem plans NSE exit to avoid ‘unnecessary cost’

The directors of Ashaka Cement Plc have announced the company's delisting from the Nigeria Stock Exchange (NSE).The decision makers of the company listed various reasons for the voluntary exit, naming the violation of the Free Float Deficiency provision of the NSE by the company as primary.The directors explained that Lafarge Africa Plc holds 84.97 per cent of Ashaka Cement; leaving [...]

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    NSE loses N180 billion on US election day

NSE loses N180 billion on US election day

November 8, the US election day cannot be classified as a good day for the Nigerian Stock Exchange as it recorded a loss of N180 billion at the end of the trading day.The market, which has been on a losing streak since the beginning of November, has recorded a total loss of 285 billion naira so far.The market capital at [...]

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Exchange Rates

November 9, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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