Sunday, July 14, 2019

Tag "nse"

    Sanwo-Olu, Abiodun ask public and private sectors to strengthen alliance

Sanwo-Olu, Abiodun ask public and private sectors to strengthen alliance

Babajide Sanwo-Olu, Lagos governor; Dapo Abiodun, his Ogun counterpart, have canvassed for a functional public private partnership (PPP) in building a sustainable economy.At an event organised by PricewaterhouseCoopers (PwC) in Lagos on Thursday, the governors urged public and private sector participants to find ways to synergise in order to speed up the country’s economic growth and reduce poverty.The event was [...]

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    Next to Dangote, gained N183bn in 16 mins — 7 things to know about MTN listing

Next to Dangote, gained N183bn in 16 mins — 7 things to know about MTN listing

On Thursday, MTN made history as the first telecommunication major in Nigeria to be listed on the country's stock exchange.Pascal Dozie, MTN Nigeria chairman, who spoke at the historic event, said: “Today is a major milestone in the evolution of MTN in Nigeria and it is fitting that it takes place 18 years to the day since I made the [...]

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    After 18 years, MTN lists on NSE — adds N1.83trn to market cap

After 18 years, MTN lists on NSE — adds N1.83trn to market cap

MTN Nigeria has finally been listed on the Nigerian Stock Exchange.The telecommunications giant was listed on the industries sector of the national bourse, 18-years after its first investor call was made by Pascal Dozie, the brain behind the Diamond Bank."Our MTN Chairman & CEO have been presented with the official plaque, commemorating this monumental milestone in yet another historical moment [...]

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    NSE loses N134bn on first trading day of 2019

NSE loses N134bn on first trading day of 2019

The Nigerian Stock Exchange  (NSE) started the year 2019 on the red side, as the market shed N134 billion on Wednesday.As at the last trading day of 2018, the market capitalisation stood N11.7207 trillion, only to fall by N134 billion to  N11.5863 trillion on the first trading day of 2019.The all share index (ASI) also fell from 31,430.50 on the [...]

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    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, [...]

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    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, [...]

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    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 [...]

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    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) [...]

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    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 [...]

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    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 [...]

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    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 [...]

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    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 [...]

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    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 [...]

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    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 [...]

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    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 [...]

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    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 [...]

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Exchange Rates

July 12, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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