Markets Archives - Nairametrics https://nairametrics.com/category/market-news/ Destination for Business news and analysis from Africa's largest economy Sun, 18 Aug 2024 10:10:44 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Markets Archives - Nairametrics https://nairametrics.com/category/market-news/ 32 32 201037849 Meet top 10 powerful CFOs of Nigeria’s largest companies by market cap  https://nairametrics.com/2024/08/18/meet-top-10-powerful-cfos-of-nigerias-largest-companies-by-market-cap/ https://nairametrics.com/2024/08/18/meet-top-10-powerful-cfos-of-nigerias-largest-companies-by-market-cap/#respond Sun, 18 Aug 2024 10:08:01 +0000 https://nairametrics.com/?p=496031 Despite Nigeria's challenging economic environment, characterized by persistent naira devaluation, high inflation, and socio-economic instability, the country's leading companies have achieved laudable market capitalizations.  

The post Meet top 10 powerful CFOs of Nigeria’s largest companies by market cap  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/18/meet-top-10-powerful-cfos-of-nigerias-largest-companies-by-market-cap/feed/ 0 496031 Forex reserves drop by $342.97 million, first time in four months  https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/ https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/#respond Sun, 18 Aug 2024 09:25:59 +0000 https://nairametrics.com/?p=496042 Nigeria's external reserves have dipped by approximately $342.97 million over a period of nine days. 

The post Forex reserves drop by $342.97 million, first time in four months  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/feed/ 0 496042 Federal Government to introduce new tax laws by September, targets regulation of cryptocurrency industry  https://nairametrics.com/2024/08/18/federal-government-to-introduce-new-tax-laws-by-september-targets-regulation-of-cryptocurrency-industry/ https://nairametrics.com/2024/08/18/federal-government-to-introduce-new-tax-laws-by-september-targets-regulation-of-cryptocurrency-industry/#respond Sun, 18 Aug 2024 05:54:46 +0000 https://nairametrics.com/?p=496025 The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, announced that the Federal Government is set to introduce new tax laws by September, which will include regulations for the cryptocurrency industry.  

The post Federal Government to introduce new tax laws by September, targets regulation of cryptocurrency industry  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/18/federal-government-to-introduce-new-tax-laws-by-september-targets-regulation-of-cryptocurrency-industry/feed/ 0 496025 Nigeria’s NGX Index drops 1.51% as investors react to results and Inflation data https://nairametrics.com/2024/08/17/nigerias-ngx-index-drops-1-51-as-investors-react-to-results-and-inflation-data/ https://nairametrics.com/2024/08/17/nigerias-ngx-index-drops-1-51-as-investors-react-to-results-and-inflation-data/#respond Sat, 17 Aug 2024 10:27:18 +0000 https://nairametrics.com/?p=495985 The Nigerian Stock Market (NGX) All-Share Index and market capitalization fell by 1.51% this week, closing at 97,100.31 points and N55.132 trillion, respectively, as investors weighed mixed corporate earnings, dividend announcements, and a slight dip in inflation.

The post Nigeria’s NGX Index drops 1.51% as investors react to results and Inflation data appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/17/nigerias-ngx-index-drops-1-51-as-investors-react-to-results-and-inflation-data/feed/ 0 495985 Union Bank records 138% profit growth for 2023 as restructuring plans continue https://nairametrics.com/2024/08/17/union-bank-records-138-profit-growth-for-2023-as-restructuring-plans-continue/ https://nairametrics.com/2024/08/17/union-bank-records-138-profit-growth-for-2023-as-restructuring-plans-continue/#respond Sat, 17 Aug 2024 09:13:02 +0000 https://nairametrics.com/?p=495983 Nigeria’s second oldest bank, Union Bank of Nigeria has reported a pre-tax profit of N71.8 billion in the 2023 full year, marking a 138% growth from the N30.2 billion posted in FY 2022.  

The post Union Bank records 138% profit growth for 2023 as restructuring plans continue appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/17/union-bank-records-138-profit-growth-for-2023-as-restructuring-plans-continue/feed/ 0 495983 Presco shares climb to N477, as gaining streak continues   https://nairametrics.com/2024/08/17/presco-shares-climb-to-n477-as-gaining-streak-continues/ https://nairametrics.com/2024/08/17/presco-shares-climb-to-n477-as-gaining-streak-continues/#respond Sat, 17 Aug 2024 07:24:12 +0000 https://nairametrics.com/?p=495974 Presco PLC ends another trading week in the green as its share price increases, continuing a three-month bull run. 

The post Presco shares climb to N477, as gaining streak continues   appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/17/presco-shares-climb-to-n477-as-gaining-streak-continues/feed/ 0 495974 Spot Ethereum ETFs end 3-day inflow streak with $39 million exiting the funds https://nairametrics.com/2024/08/16/spot-ethereum-etfs-end-3-day-inflow-streak-with-39-million-exiting-the-funds/ https://nairametrics.com/2024/08/16/spot-ethereum-etfs-end-3-day-inflow-streak-with-39-million-exiting-the-funds/#respond Fri, 16 Aug 2024 14:55:29 +0000 https://nairametrics.com/?p=495963 The nine US spot Ethereum Exchange Traded Funds ended their three-day positive inflow streak on Thursday with $39 million leaving the funds.  

The post Spot Ethereum ETFs end 3-day inflow streak with $39 million exiting the funds appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/16/spot-ethereum-etfs-end-3-day-inflow-streak-with-39-million-exiting-the-funds/feed/ 0 495963 Bybit crosses 40 million users after gaining 10 million new users in less than a month   https://nairametrics.com/2024/08/16/bybit-crosses-40-million-users-after-gaining-10-million-new-users-in-less-than-a-month/ https://nairametrics.com/2024/08/16/bybit-crosses-40-million-users-after-gaining-10-million-new-users-in-less-than-a-month/#respond Fri, 16 Aug 2024 12:36:34 +0000 https://nairametrics.com/?p=495956 Bybit one of the top three crypto exchanges by market share has hit a milestone of 40 million users after it acquired 10 million users in less than a month.  

The post Bybit crosses 40 million users after gaining 10 million new users in less than a month   appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/16/bybit-crosses-40-million-users-after-gaining-10-million-new-users-in-less-than-a-month/feed/ 0 495956 Standard Bank Group plans to increase 67.55% stake in Nigeria’s Stanbic IBTC Holdings https://nairametrics.com/2024/08/16/standard-bank-group-plans-to-increase-67-55-stake-in-nigerias-stanbic-ibtc-holdings/ https://nairametrics.com/2024/08/16/standard-bank-group-plans-to-increase-67-55-stake-in-nigerias-stanbic-ibtc-holdings/#respond Fri, 16 Aug 2024 11:43:38 +0000 https://nairametrics.com/?p=495946 The CEO of the Standard Bank Group has announced plans to increase its stake in the Nigerian bank, Stanbic IBTC Holdings. 

The post Standard Bank Group plans to increase 67.55% stake in Nigeria’s Stanbic IBTC Holdings appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/16/standard-bank-group-plans-to-increase-67-55-stake-in-nigerias-stanbic-ibtc-holdings/feed/ 0 495946 Why Nigerians should consider investing in U.S. stocks  https://nairametrics.com/2024/08/16/why-nigerians-should-consider-investing-in-u-s-stocks/ https://nairametrics.com/2024/08/16/why-nigerians-should-consider-investing-in-u-s-stocks/#respond Fri, 16 Aug 2024 11:34:57 +0000 https://nairametrics.com/?p=495941 The American stock market is the most significant globally, accounting for two-thirds of the global market by value.

The post Why Nigerians should consider investing in U.S. stocks  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/16/why-nigerians-should-consider-investing-in-u-s-stocks/feed/ 0 495941 Consumer Goods Companies report reduced margins in the first half of 2024, blame higher production   https://nairametrics.com/2024/08/16/consumer-goods-companies-report-reduced-margins-in-the-first-half-of-2024-blame-higher-production/ https://nairametrics.com/2024/08/16/consumer-goods-companies-report-reduced-margins-in-the-first-half-of-2024-blame-higher-production/#respond Fri, 16 Aug 2024 07:53:24 +0000 https://nairametrics.com/?p=495908 Consumer goods companies listed on the Nigerian Stock Exchange (NGX) reported a significant uptick in their cost of production in the first half of the year.  

The post Consumer Goods Companies report reduced margins in the first half of 2024, blame higher production   appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/16/consumer-goods-companies-report-reduced-margins-in-the-first-half-of-2024-blame-higher-production/feed/ 0 495908 UACN performance review through Q2 2024: Is now the Time to Buy?  https://nairametrics.com/2024/08/16/uacn-performance-review-through-q2-2024-is-now-the-time-to-buy/ https://nairametrics.com/2024/08/16/uacn-performance-review-through-q2-2024-is-now-the-time-to-buy/#respond Fri, 16 Aug 2024 05:51:52 +0000 https://nairametrics.com/?p=495898 UAC of Nigeria Plc recently released its Q2 2024 results, showing a 44% growth in pre-tax profit to N5.92 billion.  

The post UACN performance review through Q2 2024: Is now the Time to Buy?  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/16/uacn-performance-review-through-q2-2024-is-now-the-time-to-buy/feed/ 0 495898 Nigeria to issue $500 million domestic dollar bond on Monday   https://nairametrics.com/2024/08/15/nigeria-to-issue-500-million-domestic-dollar-bond-on-monday/ https://nairametrics.com/2024/08/15/nigeria-to-issue-500-million-domestic-dollar-bond-on-monday/#respond Thu, 15 Aug 2024 11:53:39 +0000 https://nairametrics.com/?p=495857 The Federal Government of Nigeria plans to issue its dollar-denominated domestic bond next week Monday, as it hopes to raise $500 million from local and foreign investors.  

The post Nigeria to issue $500 million domestic dollar bond on Monday   appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/15/nigeria-to-issue-500-million-domestic-dollar-bond-on-monday/feed/ 0 495857 Spot Bitcoin ETF ends two days of positive flow as $81 million flows out of the funds  https://nairametrics.com/2024/08/15/spot-bitcoin-etf-ends-two-days-of-positive-flow-as-81-million-flows-out-of-the-funds/ https://nairametrics.com/2024/08/15/spot-bitcoin-etf-ends-two-days-of-positive-flow-as-81-million-flows-out-of-the-funds/#respond Thu, 15 Aug 2024 10:40:19 +0000 https://nairametrics.com/?p=495852 The 12-spot Bitcoin Exchange Traded Funds ended their two-day positive inflows yesterday with $81 million exiting the funds at the end of the trading hours.  

The post Spot Bitcoin ETF ends two days of positive flow as $81 million flows out of the funds  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/15/spot-bitcoin-etf-ends-two-days-of-positive-flow-as-81-million-flows-out-of-the-funds/feed/ 0 495852 Binance to pay $1.7 million fine in Brazil for trading violations   https://nairametrics.com/2024/08/15/binance-to-pay-1-7-million-fine-in-brazil-for-trading-violations/ https://nairametrics.com/2024/08/15/binance-to-pay-1-7-million-fine-in-brazil-for-trading-violations/#respond Thu, 15 Aug 2024 09:58:40 +0000 https://nairametrics.com/?p=495847 Binance’s global regulatory woes continue with the latest episode happening in Brazil where the largest crypto exchange in the industry is expected to pay a fine of $1.7 million for derivatives trading violations.  

The post Binance to pay $1.7 million fine in Brazil for trading violations   appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/15/binance-to-pay-1-7-million-fine-in-brazil-for-trading-violations/feed/ 0 495847 BREAKING: Seplat shares prices crosses N4,000 for the first time ever https://nairametrics.com/2024/08/15/breaking-seplat-shares-prices-crosses-n4000-for-the-first-time-ever/ https://nairametrics.com/2024/08/15/breaking-seplat-shares-prices-crosses-n4000-for-the-first-time-ever/#respond Thu, 15 Aug 2024 09:40:07 +0000 https://nairametrics.com/?p=495845 Seplat Nigeria Plc has crossed the N4,000 share price for the first time ever, marking a 9% gain in early trading on Thursday.

The post BREAKING: Seplat shares prices crosses N4,000 for the first time ever appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/15/breaking-seplat-shares-prices-crosses-n4000-for-the-first-time-ever/feed/ 0 495845 FG seeks N190 billion from bond market in August, lowest offer in 2024  https://nairametrics.com/2024/08/15/fg-seeks-n190-billion-from-bond-market-in-august-lowest-offer-in-2024/ https://nairametrics.com/2024/08/15/fg-seeks-n190-billion-from-bond-market-in-august-lowest-offer-in-2024/#respond Thu, 15 Aug 2024 07:16:19 +0000 https://nairametrics.com/?p=495828 The Federal Government of Nigeria, through its Debt Management Office (DMO), has announced plans to raise N190 billion from the bond market in August 2024. 

The post FG seeks N190 billion from bond market in August, lowest offer in 2024  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/15/fg-seeks-n190-billion-from-bond-market-in-august-lowest-offer-in-2024/feed/ 0 495828 Fidelity Bank “surpasses target”, raises over N127.1 billion in first phase of recapitalization effort   https://nairametrics.com/2024/08/14/fidelity-bank-surpasses-target-raises-over-n127-1-billion-in-first-phase-of-recapitalization-effort/ https://nairametrics.com/2024/08/14/fidelity-bank-surpasses-target-raises-over-n127-1-billion-in-first-phase-of-recapitalization-effort/#respond Wed, 14 Aug 2024 14:09:10 +0000 https://nairametrics.com/?p=495784 Fidelity Bank has surpassed the N127.1 billion target set in its combined offer programme, as the bank concludes the programme.  

The post Fidelity Bank “surpasses target”, raises over N127.1 billion in first phase of recapitalization effort   appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/14/fidelity-bank-surpasses-target-raises-over-n127-1-billion-in-first-phase-of-recapitalization-effort/feed/ 0 495784 Bitcoin surges by 3.2% as Bitgo moves $2 billion of Mt. Gox BTC   https://nairametrics.com/2024/08/14/bitcoin-surges-by-3-2-as-bitgo-moves-2-billion-of-mt-gox-btc/ https://nairametrics.com/2024/08/14/bitcoin-surges-by-3-2-as-bitgo-moves-2-billion-of-mt-gox-btc/#respond Wed, 14 Aug 2024 09:17:09 +0000 https://nairametrics.com/?p=495764 Bitcoin, the flagship cryptocurrency surged by 3.2% in price value as Bitgo moves $2 billion of Mt. Gox BTC to another address.  

The post Bitcoin surges by 3.2% as Bitgo moves $2 billion of Mt. Gox BTC   appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/14/bitcoin-surges-by-3-2-as-bitgo-moves-2-billion-of-mt-gox-btc/feed/ 0 495764 Goldman Sachs’s filing reveals $418 million in spot Bitcoin ETF holdings   https://nairametrics.com/2024/08/14/goldman-sachss-filing-reveals-418-million-in-spot-bitcoin-etf-holdings/ https://nairametrics.com/2024/08/14/goldman-sachss-filing-reveals-418-million-in-spot-bitcoin-etf-holdings/#respond Wed, 14 Aug 2024 08:12:24 +0000 https://nairametrics.com/?p=495757 Global Financial services company Goldman Sachs revealed a $418.65 million position on U.S. spot bitcoin exchange-traded fund shares as of June 30.  

The post Goldman Sachs’s filing reveals $418 million in spot Bitcoin ETF holdings   appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/14/goldman-sachss-filing-reveals-418-million-in-spot-bitcoin-etf-holdings/feed/ 0 495757