Category: Business
Nigeria unlocks $1b investment potentials in Energy value chain-Presidential Aide
Says ongoing reforms makes capital investment in Energy worthwhile ….Says IOCs invested $82 billion in deepwater outside Nigeria since 2013 Caption:Olu...
$200 million dollar invested on CNG-Presidency
…100,000 vehicles converted from Petrol Over $200million has been invested into the Compressed Natural Gas initiative in the last one year. Besides over 100,000...
AMCON not in dispute with Heyden Petroleum-Management
The Asset Management Company of Nigeria, AMCON has denied media reports of a dispute with Heyden-Management Petroleum Limited. In a statement Wednesday,the management of...
Nigerian stock market rebounds with N131 bln gain
..experts cite renewed investor interest Caption:Nigeria stock market Nigeria’s stock market staged a recovery on Tuesday, climbing 0.22% after a six-day losing streak...
Nigerian stock market rebounds with N131 bln gain ..experts cute renewed investor interest Caption:Nigeria stock market Nigeria’s stock market staged a recovery on Tuesday, climbing 0.22% after a six-day losing streak as renewed investor interest in top-tier banking stocks fueled a N131 billion boost to the market capitalization. The market cap rose from N58.721 trillion to N58.852 trillion, while the All-Share Index (ASI) gained 216 points to close at 97,123.61, up from Monday’s 96,907.73. The Year-To-Date (YTD) return also advanced, hitting 29.89%. Leading the uptick were major banks including Zenith Bank, FBN Holdings, United Bank for Africa (UBA), Access Corporation, and Fidelity Bank, which spurred the gains across the sector. The market breadth was positive, with 26 gainers against 21 laggards. Top gainers included Conoil, rising by N18.80 to close at N208.10, followed by John Holt and Eunisell Ltd., which climbed 36k and 61k, respectively. UBA advanced by N3.15, closing at N35.05, while PZ Cussons surged N1.95 to end at N24.95. On the downside, Oando led losses, shedding N8.05 to close at N72.65. Daar Communications followed, down by 6k to close at 56k per share, with Regency Alliance Insurance, Veritas Kapital, and Guinea Insurance also in the red. Trading activity surged, with turnover volume rising sharply by 79.64% compared to the previous session. Total transactions reached 3.60 billion shares valued at N25.57 billion, up from 1.22 billion shares worth N14.23 billion in Monday’s session. Sovereign Trust Insurance led in volume with 2.50 billion shares traded, while UBA topped in value, recording N6.74 billion in transactions. Market Outlook The short-term outlook appears cautiously optimistic as investor confidence is bolstered by renewed interest in the banking sector and an increase in trading volume. Market sentiment may remain buoyed by expectations of favourable corporate earnings, especially within banking and consumer goods. However, global economic pressures and policy decisions from the Central Bank of Nigeria could influence market trajectory, suggesting a potential for volatility.
..experts cite renewed investor interest Caption:Nigeria stock market Nigeria’s stock market staged a recovery on Tuesday, climbing 0.22% after a six-day losing streak...
Oladipo, Publisher Eagle Online , heads Media Cooperative Society( IMPCMS)
Caption:Oladipo The Publisher of The Eagle Online, Dotun Oladipo, has emerged as the President of the Innovative Media Partners Cooperative Multipurpose Society....
Nigerians bemoan soaring beans prices
Caption:Beans A cross-section of Nigerians has expressed concern over the escalating cost of beans, a staple and formerly affordable source of protein for many...
Dangote working towards monopoly to exploit Nigerians — PETROAN
Says it will supply cheaper fuel Dangote refinery The Petroleum Products Retail Outlets Owners Association of Nigeria,PETROAN, has accused Dangote Petroleum Refinery of...
Obasanjo,Atiku ran Nigeriras economy for personal gains-Presidency
OUR INITIAL RESPONSE TO ALHAJI ATIKU ABUBAKAR We have just read a statement credited to former vice president Alhaji Atiku Abubakar, in which he tried to...
FG revokes Abuja-Kaduna Highway Contract awarded to Julius Berger
Caption:Julius Berger logo The Federal Government has terminated the contract for the Rehabilitation of the Abuja-Kaduna-Zaria-Kano Dual...
