Nigeria | - Part 92

African Market Watch: Wed, 25th March 2015

BRVM [he Regional Stock Exchange, Cote d’Ivoire] BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, higher than the previous day. BRVM 10 index rose from 268.74 to 270.42pts, a gain of 0.63%. BRVM Composite index gained 0.53% to 265.32 against 263.91pts previously. The equity market capitalization was recorded at XOF 6,546.91 billion. Likewise, the traded value was recorded at XOF 806.047 million and total volumes recorded at 1,613,293 shares in…

Nigeria Stock Exchange, MSCI sign agreement on developing new market indices

Posted on by The Editorial Team

MSCI Incorporated, a leading provider of investment decision support tools worldwide, and the Nigerian Stock Exchange have signed a “strategic co-operation agreement to develop and market a co-branded “family of indexes” for the Nigerian equity market. Based on the agreement, existing and future indexes would be branded as the MSCI/NSE Indexes, including the flagship NSE 30 Index and NSE 50 Index, which will become the MSCI/NSE 30 Index and the MSCI/NSE 50 Index, respectively, a…

African Market Watch: Tuesday, 24th March 2015

Posted on by The Editorial Team

BRVM [he Regional Stock Exchange, Cote d’Ivoire] BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, lower than the previous day. BRVM 10 index decreased from 269.39 to 268.74pts, a drop of 0.21%. BRVM Composite index lost 0.21% to 263.91 against 264.46pts previously. The equity market capitalization was recorded at XOF 6,512.01 billion. Likewise, the traded value was recorded at XOF 301.086 million and total volumes recorded at 902,438 shares in…

Nigeria holds rates at 13 pct, worried by economic growth outlook

Posted on by The Editorial Team

ABUJA (Reuters) – Nigeria’s central bank left its benchmark interest rate unchanged at 13 percent as expected on Tuesday, saying tight monetary policy should offset the inflationary effects of elevated spending ahead of a March 28 election. Governor Godwin Emefiele said the Monetary Policy Committee was also satisfied with the bank’s attempts to stabilise the naira, which has come under major pressure in the last six months due to the collapse in oil prices. The…

African Market Watch: Monday, 23rd March 2015

Posted on by The Editorial Team

BRVM [he Regional Stock Exchange, Cote d’Ivoire] BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, slightly higher than the previous day. BRVM 10 index rose from 269.37 to 269.39 points, a gain of 0.01%. BRVM Composite index gained 0.02% to 264.46 against 264.41 points previously. The equity market capitalization was recorded at XOF 6 525.66 billion. Likewise, the traded value was recorded at XOF 922.082 million and total volumes recorded…

S&P cuts Nigeria to B+ on weak oil, cites political risk

Posted on by The Editorial Team

ABUJA (Reuters) – Credit agency Standard & Poor’s downgraded Nigeria’s rating to B+ from BB- on Friday, saying the decline in oil prices in the past seven months had significantly affected the country’s finances. Setting a stable outlook on the new rating, it also said political risk was a significant factor while the country’s non-oil sector would support economic growth. Nigeria holds a presidential election on March 28 when Goodluck Jonathan will seek another term….

African Market Watch: Friday, 20th March 2015

Posted on by The Editorial Team

BRVM [he Regional Stock Exchange, Cote d’Ivoire] BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, higher than the previous trading day. BRVM 10 index rose from 268.38 to 269.37 points, a gain of 0.37%. BRVM Composite index gained 0.41% to 264.41 against 263.34 points previously. The equity market capitalization was recorded at XOF 6,524.51 billion, Likewise, the traded value was recorded at XOF 368.363 million and total volumes recorded at…

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