Nigerian capital market analysts expected the stock market to close positive this week following growth in Gross Domestic Product(GDP) rate and declining inflation rate. Market Observers’ Optimism According to Cowry Assets Management Limited, in the new week, the local bourse index will close positively as investors respond to the newly released positive economic numbers such […]
There is a public service announcement that airs on American Televisions as a way to remind parents to check up on their children. That public service announcement, which comes on shortly before the commencement of the 10 PM news, goes thus: “It is 10 PM, do you know where your children are?” In a similar […]
Company Logo Shares of Exxon Mobil Corp. XOM, +2.63% inched 0.95% higher to $65.02 Friday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +0.17% rising 0.37% to 4,697.53 and the Dow Jones Industrial Average DJIA, +0.55% rising 0.56% to 36,327.95. This was the […]
Energy firm Ardova PLC completed a full buyout of rival Enyo Retail and Supply Limited, the board of directors said in a letter posted by the Nigerian Exchange Limited on Wednesday, almost eight months behind initial target. The purchase marks the second major deal in the mergers and acquisitions market of the Nigerian oil and […]
Rainoil Limited, a major player in the downstream oil and gas industry, has completed the acquisition of majority shares in Eterna Plc, a publicly listed oil and gas company. The acquisition was executed through its investment arm, Preline Limited. Eterna Plc, a major player in the downstream sector of Nigeria’s oil industry, had, late 2020, […]
Some of the major downstream oil and gas marketing firms in Nigeria jointly posted N776.6 billion as revenue in the nine-month period of 2021, growing their top line by 34% from N579.59 billion recorded in the corresponding period of 2020. The list includes some of the major oil marketers quoted on the Nigerian stocks exchange. […]
The total revenue generated by five of the major oil marketing companies in the country jumped by N149.93bn in nine months as fuel demand recovers from the impact of the COVID-19 pandemic. The companies saw their combined revenue for the nine-month period ended September 30, 2021 rise to N593.9bn from N443.97bn in the same period […]
Sunday, November 21, 2021, 10:30 AM / by Tosin Ige, Proshare Research/ Header Image Credit: Oil and Gas IQ Nigerian oil and gas companies reported modest growth in the first nine months of 2021. The latest results of selected NGX-listed companies show an increase in earnings and balance sheet growth despite the lingering COVID-19 pandemic […]
Trading on the Nigerian bourse opened on Monday on a positive note with turnover appreciating by 1,103.94 per cent due to off-market trade in Oando Plc. Specifically, a total of 2.40 billion units valued at N16.47 billion were exchanged by investors in 4,811 deals. This was in contrast with 199.52 million shares worth N3.26 billion […]
Nairobi — The National Bank of Kenya has received approval from the Capital Markets Authority(CMA) to de-list from Nairobi Securities Exchange following the full takeover by KCB Group. NSE, in a statement targeting all shareholders, investors and the general public said NBK will subsequently be removed from the course on 25 November. "Notice is hereby […]
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