Investors Gain N11.17bn as NSEASI Inches Up by 0.06%, Erases Previous Day Loss
Equities market closed today on a positive note, as NSEASI appreciated by +0.06% to close at 38,874.13 basis points as against -0.05% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.47%.
Market breadth closed positive as NAHCO led 16 Gainers as against 12 Losers topped by SOVRENINS at the end of today’s session – an improved performance when compared with previous outlook.
Market turnover closes negative as volume moved down by -19.24% as against -15.54% downtick recorded in the previous session. MBENEFIT, UBCAP and GUARANTY were the most active to boost market turnover. GUARANTY and ZENITHBANK topped market value list.
BETAGLAS leads the list of active stocks that recorded impressive volume spike at the end of today’s session.
Nigeria’s imports trapped overseas over container scarcity
The global container shortage is beginning to take its toll on imports into Nigeria as a large volume of imports is now trapped in Asian countries, particularly India and China.
CBN wrangles abokiFX on economic manipulation
This year has witnessed several activities within the country’s apex banking authority in the quest to forge a more vibrant national economy.
Nigeria’s external reserves to cross $40bn with Eurobond issuance
Nigeria’s rising external reserves is expected to cross $40 billion following the issuance of a $4 billion Eurobond, which has been oversubscribed by investors. The foreign exchange reserve of Africa’s largest economy has grown by 6.68 percent in the last month to $35.37 billion as of September 20, 2021,.
Nigeria fails to meet OPEC quota as oil price soars near $76 a barrel
Oil prices rose further Thursday, but cash strapped Nigeria is again facing the curious dilemma arising from its failure to pump out enough crude to meet the country’s OPEC. Thursday’s price surge extends the strong gains overnight with fuel demand growing and crude stocks declining as production remains..
GCR Affirms Union Bank’s National Scale Issuer Ratings; Outlook Revised to Stable from Negative
GCR Ratings (“GCR”) has affirmed Union Bank of Nigeria Plc’s national scale long-term and short-term issuer ratings of BBB+(NG) and A2(NG) respectively, with the Outlook revised to Stable from Negative.
Rated Entity Rating class Rating scale Rating Outlook/Watch
Union Bank of Nigeria Plc Long Term issuer National BBB+(NG) Stable Outlook
Short Term issuer National A2(NG)
Summary of FGN Bond Auction Results for September 2021
Auction Result for the 13.98% FGN FEB 2028 (Re-opening 10-Year Bond), 12.40% FGN MAR 2036 (Re-opening 20-Year Bond) & 12.98% FGN MAR 2050 (Re-opening 30-Year Bond).
Successful bids for the 13.9800% FGN FEB 2028, 12.4000% FGN MAR 2036 & 12.9800% FGN MAR 2050 were allotted at the Marginal Rates of 11.6000%, 12.75000% and 13.0000%, respectively.
However, the original coupon rates of 13.9800% for the 13.9800% FGN FEB 2028, 12.4000% for the 12.4000% FGN MAR 2036 and 12.9800% for the 12.9800% FGN MAR 2050 will be maintained.
Contractors Begin Preliminary Work on $1.9bn Kano-Niger Republic Rail Line
Allott Consulting Nigeria Ltd on Tuesday announced the commencement of an environmental and social impact assessment of the proposed 2,854 kilometres Kano to Maradi Rail track project estimated to cost $1.9bn.
Senate Passes 2022-2024 MTEF/FSP
The Senate on Wednesday passed the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) ahead of the expected presentation of the 2022 Appropriations bill to the National Assembly by President Muhammadu Buhari.
FAAC Shares N697bn
The Federation Accounts Allocation Committee (FAAC) has shared a total of N696.965 billion August 2021 Federation Account Revenue to the Federal, States and Local Governments. Source Vanguard Read More