Markets Archives - Nairametrics https://nairametrics.com/category/market-news/ Destination for Business news and analysis from Africa's largest economy Fri, 14 Jun 2024 18:06:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Markets Archives - Nairametrics https://nairametrics.com/category/market-news/ 32 32 201037849 Notcoin price surges by 16% as Binance finally lists ‘Token’ for trading  https://nairametrics.com/2024/06/14/notcoin-price-surges-by-16-as-binance-finally-lists-token-for-trading/ https://nairametrics.com/2024/06/14/notcoin-price-surges-by-16-as-binance-finally-lists-token-for-trading/#respond Fri, 14 Jun 2024 18:05:23 +0000 https://nairametrics.com/?p=491296 The Native token for Notcoin, the popular Telegram-based clicker game has witnessed a 16% surge in price as Binance finally lists it for trading on its exchange.

The post Notcoin price surges by 16% as Binance finally lists ‘Token’ for trading  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/14/notcoin-price-surges-by-16-as-binance-finally-lists-token-for-trading/feed/ 0 491296 “Investing in meme coins, including $Davido, is highly risky”- SEC  https://nairametrics.com/2024/06/14/investing-in-meme-coins-including-davido-is-highly-risky-sec/ https://nairametrics.com/2024/06/14/investing-in-meme-coins-including-davido-is-highly-risky-sec/#respond Fri, 14 Jun 2024 17:37:07 +0000 https://nairametrics.com/?p=491294 The Securities and Exchange Commission of Nigeria (“SEC”) has issued a cautionary statement regarding the significant risks associated with investments in meme coins, including those linked to Afrobeat singer David Adeleke, popularly known as Davido. 

The post “Investing in meme coins, including $Davido, is highly risky”- SEC  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/14/investing-in-meme-coins-including-davido-is-highly-risky-sec/feed/ 0 491294 FACTCHECK: BlackRock’s ‘$400 million’ ETF is not “leaving Nigeria” https://nairametrics.com/2024/06/14/factcheck-blackrocks-400-million-etf-is-not-leaving-nigeria/ https://nairametrics.com/2024/06/14/factcheck-blackrocks-400-million-etf-is-not-leaving-nigeria/#respond Fri, 14 Jun 2024 16:41:49 +0000 https://nairametrics.com/?p=491287 Several media reports stating that a $400 million Exchange-Traded Fund (ETF) owned by BlackRock is “leaving” Nigeria is not true. 

The post FACTCHECK: BlackRock’s ‘$400 million’ ETF is not “leaving Nigeria” appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/14/factcheck-blackrocks-400-million-etf-is-not-leaving-nigeria/feed/ 0 491287 5 things to know about $TON token as it hits a new all-time high of $8  https://nairametrics.com/2024/06/14/5-things-to-know-about-ton-token-as-it-hits-a-new-all-time-high-of-8/ https://nairametrics.com/2024/06/14/5-things-to-know-about-ton-token-as-it-hits-a-new-all-time-high-of-8/#respond Fri, 14 Jun 2024 13:48:12 +0000 https://nairametrics.com/?p=491281 Toncoin is the native cryptocurrency of the Open Network Blockchain (TON) developed by Telegram.

The post 5 things to know about $TON token as it hits a new all-time high of $8  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/14/5-things-to-know-about-ton-token-as-it-hits-a-new-all-time-high-of-8/feed/ 0 491281 Tapswap announces that it will launch on the Open Network (TON) blockchain  https://nairametrics.com/2024/06/14/tapswap-announces-that-it-will-launch-on-the-open-network-ton-blockchain/ https://nairametrics.com/2024/06/14/tapswap-announces-that-it-will-launch-on-the-open-network-ton-blockchain/#respond Fri, 14 Jun 2024 13:02:08 +0000 https://nairametrics.com/?p=491274 Tapswap team announces its plan to launch on the Open Network (TON) blockchain putting an end to previous speculations

The post Tapswap announces that it will launch on the Open Network (TON) blockchain  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/14/tapswap-announces-that-it-will-launch-on-the-open-network-ton-blockchain/feed/ 0 491274 Transcorp Vs. UAC Nigeria – Who navigated better in 2023? https://nairametrics.com/2024/06/14/transcorp-vs-uac-nigeria-who-navigated-better-in-2023/ https://nairametrics.com/2024/06/14/transcorp-vs-uac-nigeria-who-navigated-better-in-2023/#respond Fri, 14 Jun 2024 09:23:11 +0000 https://nairametrics.com/?p=491245 Amid these turbulent economic conditions, Nigerian conglomerates have showcased resilience and adaptability.

The post Transcorp Vs. UAC Nigeria – Who navigated better in 2023? appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/14/transcorp-vs-uac-nigeria-who-navigated-better-in-2023/feed/ 0 491245 Big 4 maintain market dominance as audit firms earn N17.34 billion fees in 2023 https://nairametrics.com/2024/06/14/big-4-maintain-market-dominance-as-audit-firms-earn-n17-34-billion-fees-in-2023/ https://nairametrics.com/2024/06/14/big-4-maintain-market-dominance-as-audit-firms-earn-n17-34-billion-fees-in-2023/#respond Fri, 14 Jun 2024 07:25:04 +0000 https://nairametrics.com/?p=491224 The big audit firms in Nigeria, KPMG, PWC, Deloitte, and EY, typically referred to as the Big Four maintained industry dominance yet again in 2023, as 50 of the most capitalized companies on the Nigerian exchange paid a total of N17.34 billion as audit fees.

The post Big 4 maintain market dominance as audit firms earn N17.34 billion fees in 2023 appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/14/big-4-maintain-market-dominance-as-audit-firms-earn-n17-34-billion-fees-in-2023/feed/ 0 491224 Wole Oshin Custodian Investment Plc, MD/CEO acquires 19.5 million more shares to maintain control  https://nairametrics.com/2024/06/14/wole-oshin-custodian-investment-plc-md-ceo-acquires-19-5-million-more-shares-to-maintain-control/ https://nairametrics.com/2024/06/14/wole-oshin-custodian-investment-plc-md-ceo-acquires-19-5-million-more-shares-to-maintain-control/#respond Fri, 14 Jun 2024 06:36:08 +0000 https://nairametrics.com/?p=491230 The Managing Director of Custodian Investment Plc, Mr. Wole Oshin, has acquired an additional 19,531,250 Custodian Investment shares at an aggregated share price of N10.56.

The post Wole Oshin Custodian Investment Plc, MD/CEO acquires 19.5 million more shares to maintain control  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/14/wole-oshin-custodian-investment-plc-md-ceo-acquires-19-5-million-more-shares-to-maintain-control/feed/ 0 491230 Nigerian Breweries posts N29.9 billion equity gain, as stock market appreciates by 0.2%  https://nairametrics.com/2024/06/13/nigerian-breweries-posts-n29-9-billion-equity-gain-as-stock-market-appreciates-by-0-2/ https://nairametrics.com/2024/06/13/nigerian-breweries-posts-n29-9-billion-equity-gain-as-stock-market-appreciates-by-0-2/#respond Thu, 13 Jun 2024 20:00:15 +0000 https://nairametrics.com/?p=491213 Nigerian Breweries Plc (NB) was the best-performing stock in the NGX today, gaining 10%, marking a N29.9 billion equity gain. The stock closed at N31.90 from an opening price of N29.00.  

The post Nigerian Breweries posts N29.9 billion equity gain, as stock market appreciates by 0.2%  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/13/nigerian-breweries-posts-n29-9-billion-equity-gain-as-stock-market-appreciates-by-0-2/feed/ 0 491213 FX turnover crashes by 75.98% to a three-week low on Thursday https://nairametrics.com/2024/06/13/fx-turnover-crashes-by-75-98-to-a-three-week-low-on-thursday/ https://nairametrics.com/2024/06/13/fx-turnover-crashes-by-75-98-to-a-three-week-low-on-thursday/#respond Thu, 13 Jun 2024 19:16:22 +0000 https://nairametrics.com/?p=491212 The foreign exchange (FX) turnover on the Nigerian official market crashed by 75.98%, hitting a three-week low on Thursday.

The post FX turnover crashes by 75.98% to a three-week low on Thursday appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/13/fx-turnover-crashes-by-75-98-to-a-three-week-low-on-thursday/feed/ 0 491212 Seplat ExxonMobil $1.28 billion deal gets boost as NNPC moves to withdraw lawsuit https://nairametrics.com/2024/06/13/nnpc-applies-to-withdraw-suit-challenging-exxonmobils-1-28-billion-asset-divestment-to-seplat/ https://nairametrics.com/2024/06/13/nnpc-applies-to-withdraw-suit-challenging-exxonmobils-1-28-billion-asset-divestment-to-seplat/#respond Thu, 13 Jun 2024 14:13:02 +0000 https://nairametrics.com/?p=491189 NNPC has filed a motion in the High Court of the Federal Capital Territory, Abuja, seeking to discontinue its ongoing legal action against several subsidiaries of Mobil Nigeria and the Nigerian Upstream Petroleum Regulatory Commission.

The post Seplat ExxonMobil $1.28 billion deal gets boost as NNPC moves to withdraw lawsuit appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/13/nnpc-applies-to-withdraw-suit-challenging-exxonmobils-1-28-billion-asset-divestment-to-seplat/feed/ 0 491189 Crypto market loses $400 million to liquidations as US policy meeting sparks sell-offs https://nairametrics.com/2024/06/13/crypto-market-loses-400-million-to-liquidations-as-us-policy-meeting-sparks-sell-offs/ https://nairametrics.com/2024/06/13/crypto-market-loses-400-million-to-liquidations-as-us-policy-meeting-sparks-sell-offs/#respond Thu, 13 Jun 2024 13:11:23 +0000 https://nairametrics.com/?p=491185 The crypto industry lost $400 million to liquidation in two days following an important policy meeting the Federal Open Market Committee (FOMC) held yesterday, which sparked frantic sell-offs.

The post Crypto market loses $400 million to liquidations as US policy meeting sparks sell-offs appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/13/crypto-market-loses-400-million-to-liquidations-as-us-policy-meeting-sparks-sell-offs/feed/ 0 491185 Asset manager firm says Crypto and AI could add $20 trillion to global GDP by 2030  https://nairametrics.com/2024/06/13/asset-manager-firm-says-crypto-and-ai-could-add-20-trillion-to-global-gdp-by-2030/ https://nairametrics.com/2024/06/13/asset-manager-firm-says-crypto-and-ai-could-add-20-trillion-to-global-gdp-by-2030/#respond Thu, 13 Jun 2024 06:49:32 +0000 https://nairametrics.com/?p=491158 Bitwise Asset Management, a leading asset management firm and a heavy investor in Bitcoin Exchange Traded Funds (ETF) has predicted that the cryptocurrency industry and the Artificial intelligence industry could add a whopping $20 trillion to global Gross Domestic Products (GDP) by 2030.

The post Asset manager firm says Crypto and AI could add $20 trillion to global GDP by 2030  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/13/asset-manager-firm-says-crypto-and-ai-could-add-20-trillion-to-global-gdp-by-2030/feed/ 0 491158 Pepe and Bonk memecoins surge by 10% despite general market dip  https://nairametrics.com/2024/06/12/pepe-and-bonk-memecoins-surge-by-10-despite-general-market-dip/ https://nairametrics.com/2024/06/12/pepe-and-bonk-memecoins-surge-by-10-despite-general-market-dip/#respond Wed, 12 Jun 2024 13:14:29 +0000 https://nairametrics.com/?p=491137 Pepe and Bonk coin stood out in the market today by surging 10% when the entire crypto market was down in red.

The post Pepe and Bonk memecoins surge by 10% despite general market dip  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/12/pepe-and-bonk-memecoins-surge-by-10-despite-general-market-dip/feed/ 0 491137 Nigerians withdraw N14.2 billion from pension funds as job losses spike https://nairametrics.com/2024/06/12/nigerians-withdraw-n14-2-billion-from-pension-funds-as-job-losses-spike/ https://nairametrics.com/2024/06/12/nigerians-withdraw-n14-2-billion-from-pension-funds-as-job-losses-spike/#respond Wed, 12 Jun 2024 12:37:23 +0000 https://nairametrics.com/?p=491131 The National Pension Commission (PenCom) has approved the disbursement of N14.2 billion to 8,651 Nigerians who experienced temporary job loss in the first quarter of 2024.

The post Nigerians withdraw N14.2 billion from pension funds as job losses spike appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/12/nigerians-withdraw-n14-2-billion-from-pension-funds-as-job-losses-spike/feed/ 0 491131 Tapswap: 5 red flags that hint the crypto project might not be legit   https://nairametrics.com/2024/06/12/tapswap-5-red-flags-that-hint-the-crypto-project-might-not-be-legit/ https://nairametrics.com/2024/06/12/tapswap-5-red-flags-that-hint-the-crypto-project-might-not-be-legit/#respond Wed, 12 Jun 2024 09:39:26 +0000 https://nairametrics.com/?p=491129 Tapswap has gained serious ground in the Nigerian crypto space after the very successful airdrop campaign by Notcoin.

The post Tapswap: 5 red flags that hint the crypto project might not be legit   appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/12/tapswap-5-red-flags-that-hint-the-crypto-project-might-not-be-legit/feed/ 0 491129 Why Tolaram’s N104 billion acquisition of Guinness Nigeria is a game changer https://nairametrics.com/2024/06/12/why-tolarams-n104-billion-acquisition-of-guinness-nigeria-is-a-game-changer/ https://nairametrics.com/2024/06/12/why-tolarams-n104-billion-acquisition-of-guinness-nigeria-is-a-game-changer/#comments Wed, 12 Jun 2024 09:19:40 +0000 https://nairametrics.com/?p=491127 On June 11, 2024, Diageo announced it had entered a deal to sell its 58.02% stake in Guinness Nigeria Plc to Tolaram, bringing an end to over five decades of direct ownership of the Nigerian subsidiary.

The post Why Tolaram’s N104 billion acquisition of Guinness Nigeria is a game changer appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/12/why-tolarams-n104-billion-acquisition-of-guinness-nigeria-is-a-game-changer/feed/ 2 491127 Naira strengthens below N1,500/$ bandwidth amid U.S interest rate decision https://nairametrics.com/2024/06/12/naira-strengthens-below-n1500-bandwidth-amid-u-s-interest-rate-decision/ https://nairametrics.com/2024/06/12/naira-strengthens-below-n1500-bandwidth-amid-u-s-interest-rate-decision/#respond Wed, 12 Jun 2024 08:00:40 +0000 https://nairametrics.com/?p=491121 The naira posted some gains against the greenback as the dollar index moderated significantly while market players awaited America's inflation data and the U.S. Federal Reserve's interest rate decision due later in the day.

The post Naira strengthens below N1,500/$ bandwidth amid U.S interest rate decision appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/12/naira-strengthens-below-n1500-bandwidth-amid-u-s-interest-rate-decision/feed/ 0 491121 Naira trades within narrow range as FX turnover surges by 138.67%  https://nairametrics.com/2024/06/11/naira-trades-within-narrow-range-as-fx-turnover-surges-by-138-67/ https://nairametrics.com/2024/06/11/naira-trades-within-narrow-range-as-fx-turnover-surges-by-138-67/#respond Tue, 11 Jun 2024 20:34:19 +0000 https://nairametrics.com/?p=491103 The naira exhibited signs of moderate stability as foreign exchange (FX) turnover surged by 138.67% on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window. 

The post Naira trades within narrow range as FX turnover surges by 138.67%  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/11/naira-trades-within-narrow-range-as-fx-turnover-surges-by-138-67/feed/ 0 491103 TotalEnergies and Presco soar as MTN’s N195 billion loss downs the market  https://nairametrics.com/2024/06/11/totalenergies-and-presco-soar-as-mtns-n195-billion-loss-downs-the-market/ https://nairametrics.com/2024/06/11/totalenergies-and-presco-soar-as-mtns-n195-billion-loss-downs-the-market/#respond Tue, 11 Jun 2024 19:45:22 +0000 https://nairametrics.com/?p=491098 TotalEnergies Marketing and Presco posted massive gains today in the NGX, gaining 9.98% and 9.97% respectively.

The post TotalEnergies and Presco soar as MTN’s N195 billion loss downs the market  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/06/11/totalenergies-and-presco-soar-as-mtns-n195-billion-loss-downs-the-market/feed/ 0 491098