Nigerian Equity Markets |

Foreigners Pile Into Nigerian Stocks, New York ETF as Oil Climbs

LAGOS (Capital Markets in Africa) – Nigeria’s stocks have been among the world’s best-performers in the past four months, and foreign investors are a big reason for that. Net foreign inflows to Nigerian equities totalled 337 billion naira ($940 million) last year, the first time flows have been positive since at least 2013. December was the best month since Bloomberg started compiling data at the beginning of 2014, with net inflows of 140 billion naira,…

Nigeria SE Rises 1% to 38,372.61; FBN Leads Advance

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LAGOS (Capital Markets in Africa) – The Nigerian Stock Exchange Main-Board Index rose for the fifth day, climbing 1 percent, or 398.03 to 38,372.61. The move was the biggest since rising 1.8 percent on Nov. 24. The MSCI Emerging Markets Europe, Middle East and Africa Index declined 0.3 percent. FBN Holdings Plc contributed the most to the advance, rising 4.9 percent. Learn Africa Plc increased 8.2 percent, the biggest gain. Continental Reinsurance Plc fell 5 percent, the biggest loss….

Flour Mills of Nigeria Seeks $306 Million to Cut Funding Costs

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LAGOS (Capital Markets in Africa) – Flour Mills of Nigeria Plc, the country’s biggest miller by market value, plans to raise 110 billion naira ($306 million) in equity and debt as it seeks to reduce costs and boost operations in the West African nation. The company plans to raise as much as 40 billion naira by rights issue and 70 billion naira through “medium-term notes,’’ according to a statement Monday on the website of the Nigerian…

Nigerian Bourse Sustains Uptrend …NSE ASI up 1.1%

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LAGOS (Capital Markets in Africa) – Nigerian equities sustained gains observed yesterday as the All Share Index further strengthened 1.1%, trimming YTD loss to 4.2%. The performance was largely driven by rebound in the prices of DANGCEM (+2.2%) and GUARANTY (+2.0%) as well as further appreciation in WAPCO (+5.0%) and 7UP(+9.4%). Consequently, market capitalization improved N98.1bn to settle at N8.9tn. Activity level also improved as volume and value traded increased 52.2% and 32.2% to 241.6m units and N1.5bn with a total…

Nigerian Equity Benchmark Index Rebounds as Mid-Caps Rally… NSE ASI up 0.8%

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LAGOS (Capital Markets in Africa) – The equity market rebounded today from a streak of losses as the broader index appreciated 0.8% to close at 25,471.69 points, paring YTD loss to 5.2% while market capitalization added N71.1bn to settle at N8.8tn. The uptrend in the All Share Index was largely as a result of renewed buy sentiment in mid-cap counters in the Industrial and Oil & Gas sectors – WAPCO (+10.2%), MOBIL (+10.3%) and OANDO(+10.1%) – as well as bargain…

Nigerian Bourse Records Flattish Close… NSE ASI down 3bps

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LAGOS (Capital Markets in Africa) – The local bourse recorded a flattish close as the benchmark index shed 3bps to close at 25,266.15 points while YTD loss stayed at 6.0%. Rally in OANDO (+6.3%) which submitted FY:2016 result late yesterday was offset by a weak appetite for Tier-1 banks – ETI (-3.0%), UBA (-2.3%), GUARANTY (-0.6%) – as well as FORTE (-5.9%) to ensure the flattish close. Accordingly, investors lost N2.4bn as market capitalization settled at N8.7tn. However, activity level surged from yesterday’s low as…

Nigerian Equity Markets | 17 Nov 2016: Equities Extend Bearish Streak to 5th Session …NSE ASI down 0.2%

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LAGOS (Capital Markets in Africa) – The Equities market recorded a loss for the 5th consecutive session at the end of trading today as the All Share Index (ASI) pared 0.2% to settle at 25,599.79 points, bringing YTD loss to 10.6%. Sell pressure on NIGERIAN BREWERIES (-0.6%), FORTE (-5.0%), TOTAL (-4.8%) and GUARANTY (-0.7%) dragged market performance as investors lost N18.4bn bringing market capitalization to N8.7tn. Activity stayed mixed as volume traded rose 10.9% to 161.6m…

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