ABUJA- Nigerian stocks climbed towards a four-year high on Wednesday, after Dangote Cement, Nigeria’s biggest listed company, announced plans to buy back shares next week. The all-share index gained 1.16% to 44,367 points, a level last reached in February 2018. Dangote Cement rose 6.18% to 275 naira, valuing the cement group at 4.675 trillion naira […]
Tag: XNSA_DANGCEM
Seplat, Dangote Cement, UBA top stocks to watch this week
Top stocks to watch this week More firms released their financial reports for 2021 last week, a majority of them large-cap stocks from sectors as varied as energy, consumer goods, banking and industrial goods. Much as quite a number posted spectacular earnings, two of the five big banks reported passably impressive earnings, while GTCO’s was […]
MTNN moves the SWOOTs capitalization up by N50.89 billion
The combined market capitalization of stocks worth over one trillion (SWOOTs) appreciated by 0.28% to close at N18.23 trillion from N18.18 trillion the previous week, reflecting a gain of N50.89 billion. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE, MTNN Plc, and recently, BUA FOODS. Stock Performance: MTNN Plc – N206.00 […]
Nigeria: Govt’s Earnings From Solid Minerals Rose to N624.45bn in 13 Years
The federal government’s earnings from the solid minerals sector climbed to N624.45 billion in the last 13 years, a new report by the Nigeria Extractive Industries Transparency Initiative (NEITI), yesterday indicated. However, NEITI revealed in the document covering the year 2020, that 2,119 companies operating in the sector in the country’s solid minerals space still […]
2,000 Companies in Solid Minerals Sector Owe N2.76bn—NEITI
By Adedapo Adesanya More than 2,000 companies in the solid minerals sector owe the Nigerian government about N2.76 billion, the Nigeria Extractive Industries Transparency Initiative (NEITI) has alleged. The agency disclosed this in a statement issued by its Deputy Director/Head of Communications and Advocacy, Mrs Obiageli Onuorah. The NEITI Independent Solid Minerals Industry Report tracked […]
Mixed sentiment trails equities market
As investors react to GDP, earnings results STOCK market investors have continued repositioning their portfolios following the release of a positive Gross Domestic Product, GDP, last Thursday showing fourth quarter 2021 economic growth at 4.0 percent and full year at 3.4 per cent, the highest since 2014. Consequently, the Nigerian Exchange Limited, NGX, All Share […]
Halima Aliko-Dangote appointed non-executive director at cement firm
Halima Aliko-Dangote (PHOTO CREDIT: Official Facebook Page_Dangote Industries) Dangote Cement has appointed Halima Aliko-Dangote, the daughter of the company’s owner and founder, Aliko Dangote, as a non-executive director. The company said the appointment took effect from February 26, 2022, according to its notice to the Nigerian Exchange Limited. Ms Aliko-Dangote will apparently be filling the […]
Why these stocks should be on your watchlist
The Nigerian equity market has continued its bullish start to the year as it posted gains in February, despite global macro-economic worries. The All-Share Index (ASI) in the month of February has gained 1.65% for the month starting at 46,624.67 basis points to ending at 47,394.53 basis points. The market capitalization also grew in similar […]
Airtel Africa completes early repayment of its $505 million senior secured notes
Airtel Africa completes early repayment of its $505 million senior secured loan In a regulatory filing seen by Business Insider Africa, the company explained that it used cash balances available at group level to repay the debt which, by the way, was not due for maturity until March 7th, 2023. "Settlement includes all outstanding accrued […]
MTN Group is the biggest company in West Africa by market capitalization – here’s the Top 30 list
A worker walks past an outlet of South Africa’s MTN Group in Johannesburg, South Africa, February 23, 2016. REUTERS/Siphiwe Sibeko/File Photo The market cap of the Top 30 companies for January 2022 was US$116bn, up 4.7% in December. BUA Foods (Nigeria) and Access Bank (Nigeria) are new entrants in the Top 30, replacing Jumia Technologies […]