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Expert Calls for Relaxation of Share Buyback ProcedureAn expert in the Nigerian financial market and Senior Advocate of Nigeria (SAN), Mr. Anthony Idigbe has called on the regulatory authorities in the Nigerian capital market to relax the stringent conditions for share buyback for quoted companies if the policy is to achieve the required effect in the market.
Source : AllAfrica | 19-Nov-2008 18:41
Nigeria: Share Value Down N33.83 Billion Over Investors' Rush
THE bullish trend in the Nigerian capital market was halted yesterday as investors took advantage of the upsurge in the prices of some stocks leading to a drop in the value of listed equities in the Nigerian Stock Exchange (NSE) by N33.83 billion.
Source : AllAfrica | 19-Nov-2008 18:41
Nigeria: Banking Sector Drives NSE Turnover By 72 Percent
Equity trading on the Nigerian Stock Exchange was driven on Monday by activity in the Banking sub-sector, accounting for 72.36 per cent of the market turnover.
Source : AllAfrica | 19-Nov-2008 18:28
Nigeria: Ogun Governor Empresses Optimism for Trading Floor to Attract Investors
Ogun State Governor, Otunba Daniel on Monday described Abeokuta trading floor as the crowning of efforts to shift the economy of Ogun State to a higher ground and to attract investors.
Source : AllAfrica | 19-Nov-2008 18:07
Nigeria: NSE Market Value Declines By N34 Billion
After attaining a record high over N81 billion gain in the market capitalisation on Monday, the stock market lost another N34 billion yesterda, to mark a halt in the recovery that commenced last two Thursday, whereby investors had garnered about N846 billion in value terms.
Source : AllAfrica | 19-Nov-2008 17:19
Nigeria: Al-Faki Denies Saying Clique Controls NSE
The Securities and Exchange Commission [SEC] yesterday denied a statement credited to its director general Musa Al-Faki that the Nigeria Stock Exchange is controlled by a clique, saying the story was a figment of the reporter's imagination.
Source : AllAfrica | 19-Nov-2008 13:03
Nigeria: Volume Up As Investors Stake N2.23 Billion Despite Meltdown
When a review of activities on the Nigerian Stock Exchange (NSE) for the year ended December 31, 2008, will be done in the first few weeks of next year, indications are that it would not score low across all measurement yardsticks after all.
Source : AllAfrica | 19-Nov-2008 09:37
Nigeria: Market Cap, Index Rise By N81Billion
As market resumed yesterday, the market Capitalisation chalked up N81 billion to close at N8.390 trillion.
Source : AllAfrica | 18-Nov-2008 18:54
Nigeria: Capital Market Recovery - Will It Last?
Investors in the Nigerian capital market heaved a sigh of relief last week as market indices, in the words of an advertising campaign of the defunct Gateway Bank, started "looking up".
Source : AllAfrica | 18-Nov-2008 18:54
Nigeria: NSE Turnover Hits N2.3 Trillion - Otudeko
Total turnover of the Nigerian Stock Exchange (NSE) stands at N2.3 trillion, President and Chairman of the NSE, Oba Otudeko said on Monday in Abeokuta, Ogun State.
Source : AllAfrica | 18-Nov-2008 17:36
Nigeria: NSE - Banking Sub-Sector Tops Performance Chart
Investors' preference for the shares of banking sub-sector since the resumption of bears market last week saw the sector topping the performance chart in terms of volume and value of equities traded.
Source : AllAfrica | 18-Nov-2008 17:09
Nigeria: Cement Company Announces N4.7 Billion Profit
Benue Cement Company (BCC) Plc, a subsidiary of Dangote Industries Limited, has announced its third quarter results for the period January 1, 2008, to September 30, 2008, reporting a 118.81per cent increase in turnover, compared to the same period in 2007.
Source : AllAfrica | 18-Nov-2008 11:11
Nigeria: Reform - Multinational Oil Companies' Interests Will Be Protected - Yar'Adua
President Umaru Musa Yar'Adua has assured multinational oil companies operating in Nigeria that their interests will be taken into consideration in the ongoing reform in the oil sector.
Source : AllAfrica | 18-Nov-2008 11:11
Nigeria: Otudeko - NSE will Submit to Quoted Firms' Obligations
President and Chairman of Council, Nigerian Stock Exchange (NSE), Dr Oba Otudeko, has restated the council's commitment to shed its not-for-profit status and submit to the openness, accounting standard, information-sharing, communication, and other obligations of publicly-quoted companies.
Source : AllAfrica | 18-Nov-2008 11:11
South Africa: JSE 'May Be in for R233 Million Claims'
INVESTORS who lost millions after the collapse of brokerage Dealstream may have a claim against the JSE, according to the provisional curator's affidavit which will be presented to the Pretoria High Court today.
Source : AllAfrica | 18-Nov-2008 09:05
South Africa: JSE May Increase Offer for Besa
THE JSE may raise the stakes in its bid to buy the Bond Exchange of SA (Besa) in order to secure control of SA's biggest debt market.
Source : AllAfrica | 18-Nov-2008 09:02
Nigeria: NSE Capitalisation Up By N780 Billion
Driven by gains on the share prices of majority of the listed equities, the value of listed equities on the Nigerian Stock Exchange (NSE), represented by market capitalisation appreciated last week by N780 billion.
Source : AllAfrica | 18-Nov-2008 09:01
South Africa: Bidvest Unit Plans Listing on Namibian Bourse
BIDVEST says it plans to list its Namibian unit on the Windhoek-based bourse next year and intends to continue making strategic acquisitions despite the financial crisis.
Source : AllAfrica | 18-Nov-2008 08:48
South Africa: Maiden Profit More Than Doubles at B&W
ALTX-listed electrical and instrumentation contractor B&W's net profit for its maiden full year to August has jumped 133%, beating its prelisting forecasts.
Source : AllAfrica | 18-Nov-2008 08:43
South Africa: Tiger on Prowl for AVI
WITH price:earnings ratios of some big companies on the JSE at about six, and dividend yields at similar levels, it had to happen. At some point, someone was going to pounce.
Source : AllAfrica | 18-Nov-2008 08:41
South Africa: Dealstream Conflict
THE JSE may well be liable for losses investors incurred after the collapse of Dealstream, but there seems to be a flaw in the curator's report, and that is the fact the Financial Services Board's (FSB' s) role has not been overtly questioned.
Source : AllAfrica | 18-Nov-2008 08:22
Nigeria: Value of Equities Rises By N136 Billion
Investors of the Nigerian Stock Exchange (NSE) may have reasons to be heaving a sigh of relief after months of down turn as activities on the stock market still remained on the up rise at the end of Monday transactions.
Source : AllAfrica | 17-Nov-2008 22:20
Nigeria: NSE Flags-Off Abeokuta Trading Floor Tomorrow
The Council of Nigerian Stock Exchange [NSE], will tomorrow in Abeokuta, Ogun State capital, flag-off its branch of Electronic/Automated Trading Floor in the town.
Source : AllAfrica | 17-Nov-2008 13:53
Nigeria: New Do At the Dome
In order to give a new interpretation to his tourism and entertainment dreams, Dr. Obiora Okonkwo, the man behind The Dome-the multi-faceted complex in Abuja has set new targets for himself and his team.
Source : AllAfrica | 17-Nov-2008 13:52
Botswana: Botswana to Gain Frontier Market Status
Botswana, along with other developing countries that are experiencing robust growth in capital markets, is close to gaining a Frontier Market status.
Source : AllAfrica | 17-Nov-2008 12:05
Nigeria: Stock Market Rebounds, Recovers N785 Billion in Six Days
The bulls consolidated their hold on the stock market last week with investors recovering N785 billion in six days since the market picked up last Wednesday.
Source : AllAfrica | 17-Nov-2008 10:09
Nigeria: Textile Companies Close Shop as Inferior Imported Materials Flood Market
As more textile companies closed shop and the government apparently lost on how to revive the dying sector, smugglers are busy having fun as reports have shown that the Nigerian market is being flooded with finished textile products imported from Asia.
Source : AllAfrica | 17-Nov-2008 09:49
Stock Market Recovers
Some relief came the way of investors last week after eight months of losses, pains and anxiety following the persistent fall in share prices in the Nigerian stock market.
Source : AllAfrica | 17-Nov-2008 08:25
Ghana: Companies in the News
Services export strategy launched
Source : AllAfrica | 14-Nov-2008 16:29
Nigeria: Zenith Bank Grosses N208 Billion
Zenith Bank Plc has announced gross earnings of N208.29 billion for the financial year ending September 2008.
Source : AllAfrica | 14-Nov-2008 16:22
Africa: Koehler Urges Fresh Views on Continent's Markets
The President of the Federal Republic of Germany, Mr. Horst Koehler Tuesday called for a new momentum to discuss a global infrastructure programme which should focus on the African emerging markets countries and the poorer regions of the continent.
Source : AllAfrica | 14-Nov-2008 15:19
Nigeria: Stock Market Up By 2.2 Percent
Trading activities on the floor of the Nigerian Stock Exchange (NSE) closed on Thursday with 2.2 per cent growth rate. 50 out of 78 stocks were traded.
Source : AllAfrica | 14-Nov-2008 15:14
Nigeria: Index Rebounds, After Stocks Fall to 2006 Year-End Level
One week after the Nigerian Stock Exchange (NSE) removed the artificial bumps put in the way of its All-Share-Index to stem the lingering meltdown, the index seemed to have hit a natural bottom of 33,754.11 basis points last Wednesday.
Source : AllAfrica | 14-Nov-2008 11:33
Nigeria: Stakeholders to Blame for Market Meltdown - Stockbrokers
It was time for members of the nation's stockbrokerage community to tell themselves some home truth recently, while seeking a way out of a market meltdown that has almost rendered the profession unenviable and its ardent practitioners bankrupt after eight months of being on the receiving end.
Source : AllAfrica | 14-Nov-2008 11:33
Bulls Charge As Political Stalemate Continues
WHEN investors thought they had seen it all, the equities market rebounded with yet another record-breaking performance on Tuesday.
Source : AllAfrica | 14-Nov-2008 11:12
Nigeria: NSE Market Value Rises Further By N175 Billion
Investors' morale received a further boost yesterday as activities at the stock market continued on the upbeat, which resulted in a significant gain of N175 billion in their investment at the end of the day's trading.
Source : AllAfrica | 13-Nov-2008 15:08
Uganda: Lubaga Markets' Rows Persist
Wrangles over control of Lubaga's three markets are still going on although vendors have been given some control, councillor John Lukaaga has observed.
Source : AllAfrica | 13-Nov-2008 11:17
Uganda: Develop and Exploit Our Capital Markets
The African Securities Exchange Association (ASEA) have just concluded their 12th annual conference in Kampala.
Source : AllAfrica | 13-Nov-2008 11:00
South Africa: Fear of Slump Rattles Markets
MARKETS were rattled yesterday as more companies slashed profit forecasts and economic data continued to point to a long global recession.
Source : AllAfrica | 13-Nov-2008 09:19
Poor Sales Plunge DiamonEx Shares
DiamonEx share price on the Botswana Stock Exchange plunged to a 52-week low last week following the company's "below expectations" first sale of diamonds from its Lerala Mine.
Source : AllAfrica | 12-Nov-2008 20:04
Nigeria: Investors Gain N168 Billion As Market Recovers Further
Investors' fortunes in the stock market continued its recovery with another significant rise of N168 billion yesterday.
Source : AllAfrica | 12-Nov-2008 12:29
Museveni Wants Global Economy Restructured
PRESIDENT Yoweri Museveni has called for restructuring of the world economy following the global financial crisis that has hit America and Europe.
Source : AllAfrica | 12-Nov-2008 12:14
Nigeria: Equities' Value on NSE Soars By N136 Billion
The bullish trend in the capital market continued on Monday, as the value of listed equities on the Nigerian Stock Exchange (NSE) appreciated by N136.28 billion.
Source : AllAfrica | 12-Nov-2008 11:05
Africa: JSE Plans New Exchange for Continent
FOREIGN interest in African- listed companies is likely to grow next year when the JSE launches its new Africa Board, says Maureen Dlamini, executive head of the Africa Board at the JSE.
Source : AllAfrica | 12-Nov-2008 09:29
South Africa: Free AltX Listings for Joint Winners
TWO companies have been promised free listings on AltX after being declared joint winners of the Go4Growth competition.
Source : AllAfrica | 12-Nov-2008 09:29
South Africa: Gemfields Retreats From Offer for TanzaniteOne
COLOURED gemstones miner Gemfields Resources, which is 28% owned by JSE-listed Pallinghurst Resources, had allowed its offer for shares in Tanzanian-based miner of precious stones TanzaniteOne to lapse, it said yesterday.
Source : AllAfrica | 12-Nov-2008 09:13