MarketForces Africa

The equities market capitalisation of the Nigerian Exchange (NGX) reduced by more than N118 billion week on week due to negative trades. Investors started taking profit early in the week before sentiment began to pick up. https://lnkd.in/eHk5-cMv #Equityinvestors

The US dollar rose against its major trading partners except for a decline versus the yen, as markets reflect on the Federal Open Market Committee's decision

Equities market closed positive due to renewed buying interest in oil and gas stocks with support from some banking names. #Stocks #Markets #Money #Investment #Wealth Nigerian Exchange Group (NGX Group) #Stockmarket

Oil prices saw a weekly gain due to U.S election win would impact Iran supply, while the market anticipates ceasefire discussion could start making headway on Donald Trump wins. https://lnkd.in/eqi4hrAr #Oilprices

The future of the naira looks bleak under the current administration as the authority appears to have given preference to growing the nation’s external reserves over stabilisation of the the local currency. https://lnkd.in/eV-aA-kp #Naira #FX #USDollar

The U.S. Justice Department has accused Iran of plotting the assassination of President-elect Donald Trump. “The charges announced today expose Iran’s continued brazen attempts to target U.S. citizens, including President-elect Donald Trump,” said FBI Director Christopher Wray. https://lnkd.in/eKGjunmr #US #Iran #DonaldTrump

The Federal Government (FG) has set up a nine- member committee to review Bilateral Investment Treaties (BITs) and the Nigerian Investment Promotion Commission (NIPC) ACT. https://lnkd.in/e8TzprMa Nigerian Investment Promotion Commission #BilateralInvestment

GCR Ratings has affirmed United Bank for Africa Plc’s long-term national and international scale ratings of AA+(NG) and B respectively, with a stable outlook. https://lnkd.in/eciD62j8 UBA Group

Fitch Ratings has affirmed Stanbic Bank Kenya Limited’s (SBK) Long-Term Issuer Default Rating (IDR) at ‘B’ with stable outlook. The bank viability rating (VR) of ‘b’ has also been affirmed. https://lnkd.in/eTA3bRyg #StanbicBankKenya

Gov. Abba Yusuf of Kano State has presented a budget of N549 billion for 2025 fiscal year to the State House of Assembly for passage into law. https://lnkd.in/ekckfsi5 #KanoState