Sunday, November 18, 2018

Tag "nse"

    NSE suspends six listed companies from trading

NSE suspends six listed companies from trading

The Nigerian Stock Exchange (NSE) has suspended six listed companies from trading their shares in the bourse.In a notice issued by Godstime Iwenekhai, acting head of listings regulation department, NSE, the agency said the suspension would take effect from Monday.The affected companies are DN Tyre & Rubber Plc, FTN Cocoa Processors Plc, International Energy Insurance Plc, Thomas Wyatt Nigeria Plc, [...]

0 comment Read Full Article
    Chapel Hill appointed to handle MTN’s $5.2bn listing in Nigeria

Chapel Hill appointed to handle MTN’s $5.2bn listing in Nigeria

Telecoms giant MTN has appointed Chapel Hill Denham as one of the three brokers for its initial public offering (IPO) on the Nigerian stock market.The Nigerian financial firm will work alongside Renaissance Capital and Rand Merchant Bank, with Citigroup and Standard Bank serving as coordinators.MTN has not decided what portion of the subsidiary to sell, as it targets $400 million, [...]

0 comment Read Full Article
    Oando shareholders demand Adeosun’s sack

Oando shareholders demand Adeosun’s sack

Shareholders of Oando Plc have demanded the sack of Kemi Adeosun, minister of finance, for allegedly interfering with the stock market.In a statement which Trusted Shareholders Association of Nigeria (TSAN) issued in conjunction with the Proactive Shareholders Association (PSA), the stakeholders accused the minister of shielding Oando from being probed by the Securities and Exchange Commission (SEC).They insisted Adeosun was [...]

0 comment Read Full Article
    More trouble as Johannesburg Stock Exchange suspends Oando

More trouble as Johannesburg Stock Exchange suspends Oando

The Johannesburg Stock Exchange (JSE) has suspended trading in shares belonging to Oando Plc. According to a statement issued by JSE’s Sens service on Thursday, Oando's listing was suspended following the review of subsequent correspondence received on October 18 from the Nigerian Stock Exchange and SEC.On Wednesday, the Nigerian Stock Exchange said it followed the directive of the Securities Exchange Commission(NSE) [...]

0 comment Read Full Article
    NSE loses N42.7bn — 3 days after CBN MPC noted a ‘seeming bubble’

NSE loses N42.7bn — 3 days after CBN MPC noted a ‘seeming bubble’

Nigerian Stock Exchange (NSE) lost its most recent bullish trend on Friday, three days after Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) said there is a seeming bubble at the capital market.On Friday, the Nigerian bourse lost N42.71 billion to close with a market capitalisation of N12,705,446,827,912.26 -- after gaining N577 billion only a day before, and [...]

0 comment Read Full Article
    Naira gains, NSE jumps by N577bn after CBN rate decision

Naira gains, NSE jumps by N577bn after CBN rate decision

The Nigerian Stock Exchange (NSE) continued its rally on Wednesday following the decision of the Central Bank of Nigeria (CBN) monetary policy committee (MPC) to hold key interest rate at 14 percent for 12 months running.On Tuesday, Godwin Emefiele, the governor of the bank, announced that the committee decided to "retain the MPR at 14 per cent, CRR at 22.5 [...]

0 comment Read Full Article
    Expert asks CBN to sustain forex interventions as stock market hits all-year high

Expert asks CBN to sustain forex interventions as stock market hits all-year high

Uche Uwaleke, a professor and financial expert, says the Central Bank of Nigeria’s (CBN) intervention in the forex market is already manifesting positively in many sectors of the economy.He asked the CBN to keep up the policy as the the capital market hit an all-year on Thursday.On Thursday, the market capitalisation of the market hit N11,386,841,556,678.40, and all share index [...]

0 comment Read Full Article
    Naira hits 2017 best but stock exchange loses N81 billion

Naira hits 2017 best but stock exchange loses N81 billion

The Nigerian naira continued on a gaining streak to hit its best point in 2017 as the Nigerian Stock Exchange (NSE)’s two-week bullish trend was halted on Tuesday.The naira appreciated to as much as N362 per dollar at the parallel market -- its best position in 2017, after opening at 490 in January.On the official side of the market, the [...]

2 comments Read Full Article
    Three companies to merge as one of Nigeria’s biggest brewers

Three companies to merge as one of Nigeria’s biggest brewers

The boards of directors of International Breweries Plc, Intafact Beverages Limited and Pabod Breweries Limited have agreed to explore the merger of the three businesses, subject to required regulatory and shareholders’ approvals.Should the proposed merger be approved, the enlarged company is expected to be one of the leading listed companies in Nigeria, and one of the largest brewers in Africa’s [...]

0 comment Read Full Article
    Stock Exchange Rally: Dangote makes $1.1bn in six days

Stock Exchange Rally: Dangote makes $1.1bn in six days

Aliko Dangote, Africa's richest man and president of Dangote group, has recorded a $1.1 billion increase in fortune over the last six days.The increase in Dangote's fortune is due to the rally currently being recorded at the Nigerian Stock Exchange (NSE) over the week.TheCable understands that NSE has gained N1.06 trillion in June alone, and about 30 percent of that [...]

0 comment Read Full Article
    Naira firms as NSE gains N417bn in six hours — crosses N11trn

Naira firms as NSE gains N417bn in six hours — crosses N11trn

The Nigerian naira appreciated against the dollar on Monday as the Nigerian Stock Exchange (NSE) maintained a bullish run -- which has been on for nearly a month.NSE gained 417 billion on Monday as the market capitalisation crossed the N11 trillion mark for the first time in 2017.The market, which closed at N10,845,347,307,117.93 on Friday, appreciated to N11,262,526,136,498.84 within the [...]

0 comment Read Full Article
    NSE soars to 2017 high as market value crosses N10trn

NSE soars to 2017 high as market value crosses N10trn

The market capitalisation which measures the total value of stock on the Nigerian Stock Exchange (NSE) hit an all year high of N10.121 trillion on Tuesday.On Friday, the NSE crossed the N10 trillion mark for the first time in 2017, and has maintained such upward trajectory into bullish trade on Tuesday.The market, which closed at N10.047 trillion on Friday, closed [...]

0 comment Read Full Article
    NSE ‘becoming a champion’ among emerging markets

NSE ‘becoming a champion’ among emerging markets

Lukman Otunnuga, research analyst at FXTM, says the Nigerian Stock Exchange (NSE) is becoming a champion among emerging markets across the world.Speaking on the recovery in the Nigerian economy and the stock market, Otunuga said the outlook for the Nigerian economy is quite encouraging."The improving sentiment towards the Nigerian economy boosted further on Tuesday following reports of the nation’s inflation [...]

0 comment Read Full Article
    Naira gains, despite consecutive fall in foreign reserves

Naira gains, despite consecutive fall in foreign reserves

The Nigerian naira strengthened slightly at the parallel market, despite fall in the country's foreign reserves.On Friday, the naira appreciated by one point against the dollar, moving from 391 to 390 against the greenback.The British pound lost some ground to the naira to trade at N495, while the euro exchanged for N420.This is happening despite a three-day fall in the [...]

0 comment Read Full Article
    Here is how Nigerian stocks gained N780bn in two days

Here is how Nigerian stocks gained N780bn in two days

Nigerian stocks rose to a more than six-month high on Wednesday, after gaining N780,160,038,889 to hit a market capitalisation of N9.825 trillion.NSE was lifted by gains in the banking, cement and oil sectors as dollar liquidity continued to improve on the currency market.The main index marked its third consecutive day of gains, closing up 2.95 percent at 27,546 points, a [...]

0 comment Read Full Article
    Nigerian Stock Exchange gains N63bn in six hours

Nigerian Stock Exchange gains N63bn in six hours

The Nigerian Stock Exchange (NSE) gained N63,153,866,496.20 in the six trading hours of Monday.On Friday, the market lost N6.87 billion within the first 78 minutes of President Muhammadu Buhari's first public outing in weeks.When the market opened on Friday, the stock exchange gained N30.66 billion, rallying at N9,075,965,863,135.82 when the news of the president’s  first public appearance in weeks, broke.Within [...]

2 comments Read Full Article
Advertisement
Advertisement

 

Advertisement

Advertisement

Exchange Rates

November 16, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement