Before it's here, it's on InfoWARE Market Data Terminal; Years of Fundamentals, Analytics and more... VSPBONDETF 83.15  FTNCOCOA 10.00  TIP 10.00  JULI 9.97  CHAMPION 9.94  PZ 9.93  TRANSCORP 9.93  ACCESSCORP 9.92  STERLINGNG 9.89  UPDC 9.85  BUACEMENT -10.00  CONOIL -10.00  MTNN -9.96  THOMASWY -9.78  SOVRENINS -6.52  MERVALUE -5.80  CORNERST -4.76  NASCON -3.94  FIDELITYBK -3.85  VETINDETF -3.07 
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Daily Business News Brief
(Source: GlobalView Capital Limited, Date: 07-Dec-2023)
Daily Business News Brief December 7th, 2023
Equity market sustains rebound with N305bn gain - Punch

The Nigerian Exchange Limited sustained its bullish sentiments on Wednesday as it closed in the green zone with N305bn added to equity investors' wealth.Investors had gained N166bn on Tuesday after a loss of N259bn on Monday following dips in the value of some medium-cap stocks. At the close of trading on Wednesday, the All-Share Index and the market capitalisation had risen by 0.78 percent to 71,808.64 and N39.294tn respectively. ............... ........................... .. . .,.. ............ ........ ..................... ... .. ...... ..  .... . ........... .......... ............. . ..... . ... ........................ https://punchng.com/equity-market-sustains-rebound-with-n305bn-gain/

Islamic finance segment hits $2.9 billion, says SEC - Guardian

The Director-General of the Securities and Exchange Commission (SEC), Lamido Yuguda, said the Islamic finance segment of the financial industry reached an estimated $2.9 billion as at the end of 2022 with outstanding Sukuk accounting for 57 per cent of the amount.Islamic banks followed with 42 per cent while the remaining one per cent was split between Islamic funds and takaful... . ......... . .................. . ............................... ....:,..... ... ........... .. ........  . ......... .., ... .. .,....... .. ...... . ..... . ... ........................ https://guardian.ng/business-services/islamic-finance-segment-hits-2-9-billion-says-sec/

DMO offers four FGN bonds valued N360 billion for subscription - Guardian

The Debt Management Office (DMO) has announced the offer for subscription of four Federal Government of Nigeria (FGN) bonds valued at N360 billion.According to a statement issued by the DMO through its official X handle, the first offer is due April 2029 FGN bond valued at N90 billion, at an annual interest rate of 14.55 per cent.The second offer is due in June 2033 FGN bond valued at N90 billion, at 14.7 per cent interest rate (10-year re-opening)............... ...... ..............,................. ....:,..... ... ........... .. ........  . ......... .., ... .. .,....... .. ...... . ..... . ... ........................ https://guardian.ng/business-services/dmo-offers-four-fgn-bonds-valued-n360-billion-for-subscription/

FBNH leads bank stock rebound, capitalisation breaks N1tr ceiling"¢FUGAZ shares rise by 136% in one year - Guardian

FBN Holdings Plc broke the N1 trillion capitalisation ceiling at the end of yesterday's trading after its stock surged by close to 10 per cent for the third consecutive session to settle for N29.40 kobo.With yesterday's rally, the premier bank has joined Zenith Bank and GTCO on the informal exclusive club of stocks worth over one trillion (SWOOT).t............... ...... ..............,................. ....:,..... ... ........... .. ........  . ......... .., ... .. .,....... .. ...... . ..... . ... ........................ https://guardian.ng/business-services/fbnh-leads-bank-stock-rebound-capitalisation-breaks-n1tr-ceiling/

Flour Mills repays N52bn commercial paper - Punch

Food and agro-allied company, Flour Mills of Nigeria Plc, has repaid its N51.64bn Series 2 Commercial Paper.This was revealed in a statement issued by the group following the successful repayment. FMN had earlier repaid its N13.33bn Series 1 in August 2023.The FMN Series 1 and 2 CPs worth N64.97bn were initially issued on February 22, 2023, under its N200bn Commercial Paper Programme................ ...... ..............,................. ....:,..... ... ........... .. ........  . ......... .., ... .. .,....... .. ...... . ..... . ... ........................ https://punchng.com/flour-mills-repays-n52bn-commercial-paper/

Following GSK's Exit, P&G Moves to Leave Nigeria "¢Economists urge FG to accelerate backward integration, support domestic production - Thisday

Barely four months after the GlaxoSmithKline Consumer Nigeria Plc (GSK), took the decision to exit the Nigerian market, the Procter & Gamble (P&G), another multinational firm, has taken a decision to shut down its production lines and commence the exportation of its products into Nigeria.This was announced recently by the Chief Financial Officer of P&G, Mr. Andre Schulten, at the Morgan Stanley Global Consumer & Retail Conference when he stated specifically................ ...... ..............,................. ....:,..... ... ........... .. ........  . ......... .., ... .. .,....... .. ...... . ..... . ... ........................ https://www.thisdaylive.com/index.php/2023/12/07/following-gsks-exit-pg-moves-to-leave-nigeria

Abbey Mortgage Bank recommits to NGOs' empowerment - Punch

Abbey Mortgage Bank has reaffirmed its dedication to empowering non-profit organisations, emphasizing financial sustainability and positive transformation within the civil society sector.According to a statement, the bank stated this during a recent stakeholders workshop themed ...Financial Management: A Sustainability Tool for Non-Profit Organizations" ................ ...... ..............,................. ....:,..... ... ........... .. ........  . ......... .., ... .. .,....... .. ...... . ..... . ... ........................ https://punchng.com/abbey-mortgage-bank-recommits-to-ngos-empowerment/

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