Daily Market Update | 11-09-2023
Daily Market Update (Equities) The Nigerian Equities Market closed the day negative as its benchmark index fell by 1.24% to settle at 67,296.18 points in today’s trading session. Consequently, the Year-to-Date (YtD) returns fell to 31.31% (Yesterday: 32.96% YtD). The losses in GTCO, DANGSUGAR, ZENITH, ACCESSCORP, and UBA offset the gains in OANDO, NB, TRANSCORP, […]
Daily Market Update | 12-09-2023
Daily Market Update (Equities) The Nigerian Equities Market closed the day negative as its benchmark index fell by 0.80% to settle at 66,760.20 points in today’s trading session. Consequently, the Year-to-Date (YtD) returns fell to 30.26% (Yesterday: 31.31% YtD). The losses in MTNN, DANGSUGAR, ZENITH, ACCESSCORP, and NESTLE offset the gains in OKOMU, OANDO, WEMA, […]
H1:2023 Zenith Bank Plc Earnings Result | FX Revaluation Gains to the Rescue
Zenith Bank Plc published its H1:2023 interim financial results, recording a 138.51% YoY expansion in Gross Earnings to NGN931.12bn. This is on the wheels of a tremendous increase in non-interest income (+238.47% YoY to NGN551.84bn) in the period. Interest Income also supported growth in Gross Earnings as it grew by 71.86% YoY to NGN415.43bn. […]
FTSE Russell Downgrades Nigeria’s Market Status
Recently, FTSE Russell announced the downgrading of Nigeria’s FTSE Equity Country Classification Status from a Frontier market status to an Unclassified market status. Furthermore, from September 18th 2023, Nigerian index constituents will be removed from various FTSE Russell equity indices, valued at zero (NGN0.0001). The equity indices include: FTSE Frontier Index Series, including the FTSE Frontier […]
FX Policy Reforms: CBN Guidance to the Banking Sector
Yesterday, the Central Bank of Nigeria (CBN) released a letter highlighting prudential guidelines to the banking sector, following the impact of the recent foreign exchange (FX) rate regime change. The letter observed the impact of the regime change on the banking sector and the resulting effect on the Naira value of banks’ foreign currency (FCY) […]
