Stock Market Plunges, Loses N491bn in One Week
The Nigerian Stock Market ended the week bearish on Friday, with investors recording a loss of N491 billion.
Market capitalisation declined by N491 billion or 0.64 per cent, closing at N75.962 trillion from N76.453 trillion on Thursday.
Similarly, the...
MTN Earnings Hit by N400bn Loss as Naira Devaluation Takes Toll
MTN Nigeria reported a N400.44bn loss after tax for the year ended December 31, 2024, as the devaluation of the naira drove up foreign exchange losses and weighed on the company’s earnings.
The loss, disclosed...
Nigerian Equities Open With N304bn Loss
Nigerian equities opened this week with a continuation of bearish sentiment as investors sought to lock in gains into fixed income securities.
Benchmark indices at the Nigerian Exchange (NGX) indicated average decline of 0.53 per cent, equivalent to net capital...
Nigerian Breweries suffers N153bn FX Loss
Nigerian Breweries Plc has announced that it suffered a N153 billion foreign exchange loss due to the devaluation of the naira.
This was disclosed in its earnings report which accompanied its audited results for the year ended December 2023 filed...
FBN Holdings Reports N350bn FX Loss in 2023
FBN Holdings, one of the biggest banks in Nigeria, has reported a foreign exchange loss of N350.3 billion last year compared to a gain of N22.4 billion in 2022, according to its latest unaudited financial statements.
Foreign exchange...
In One Week, Equity Market Investors Lose N90bn
The financial services industry of the Nigerian Exchange Limited (NGX) dominated trading activities in the past week, even as investors lost N90bn at the close of trading despite bullish sentiments.
The financial services industry led the activity chart...
