Fitch Ratings – London – 24 Jan 2022: Fitch Ratings has affirmed Ecobank Nigeria Limited’s (ENG) Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. Fitch has simultaneously upgraded ENG’s National Short-Term Rating to ‘F2(nga)’ from ‘F3(nga)’. A full list of rating actions is detailed below. Fitch has withdrawn ENG’s Support Rating as […]
Champion Breweries has filed a notice of take-over offer by Raysun Nigeria Limited for over 1 billion units of the brewer’s shares. The Offer is in accordance with the directives of the regulator subject to the provisions of Section 131, Part XII of the Investment and Securities Act, No. 29, 2007 (as amended) and Rule […]
Transactions on the equities sector of the Nigerian Exchange (NGX) market capitalisation increased by N28 billion yesterday, amid sustained bargain hunting in BUA foods and 27 stocks. Specifically, the All-Share Index (ASI) increased by 42.71 absolute points, representing a growth of 0.10 per cent to close at 43,897.13 points. Similarly, the overall market capitalisation size […]
Exxon Mobil Corp. ( XOM ) shares closed today at 0.4% below its 52 week high of $72.15, giving the company a market cap of $304B. The stock is currently up 17.5% year-to-date, up 51.6% over the past 12 months, and up 8.1% over the past five years. This week, the Dow Jones Industrial Average […]
Fitch Sees Improvement in Ecobank Nigeria’s Profitability By Dipo Olowookere Ecobank Nigeria is expected to record a moderate improvement in profitability, a notable rating agency, Fitch Ratings, has submitted. The rating firm made this submission based on the receding asset-quality pressures and lower loan impairment charges (LICs) of the financial institution. In a statement to […]
Trading activities on the Nigerian equities market this week, is expected to commence on a positive as investors reposition for the New Year. It is going to be a four day trading session as government declared Monday, January 3, 2022 as public holidays to mark New Year’s Day celebration. Analysts Optimism Analysts at Cowry Assets […]
NGX building used to illustrate the story The nation’s bourse extended its losing streak on Friday by N81 billion on sustained profit taking. Specifically, the market capitalisation inched lower by N81 billion or 0.34 per cent to close at N23.951 trillion from N24.032 trillion recorded on Thursday. Also, the All-Share Index dipped 150.97 points or […]
Neimeth International Pharmaceuticals Kayode Tokede Neimeth International Pharmaceuticals Plc has announced a profit before tax of N365.5million for the year ended September 30, 2021, an increase of 22.8per cent over N297.4million reported in full year ended September 30, 2020. The pharmaceutical company in the results released at the Nigerian Exchange Limited (NGX) yesterday reported profit […]
NGX Group Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) yesterday resumed trading for 2022 on a positive note as it gained N887 billion in market capitalisation. . The All Share Index (ASI) rose by 309.79 points, representing an increase of 0.72 per cent to close at 43,026.23 basis points, while the […]
Nigerian Exchange [Photo Creadit: Business Live Nigeria] The bulls resurfaced on the Nigerian Exchange Ltd. on Wednesday, with the All-Share Index hitting the 44,000 mark following investors’ interest in Dangote Cement and 23 others. Specifically, the All-Share Index inched higher by 749.52 points or 1.71 per cent to close at 44,608.82 from 43,859.30 achieved on […]
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