Financial news nigeria markets

Here are some recent financial news and market updates from Nigeria:

Stock Market:

• The Nigerian Stock Exchange (NSE) All-Share Index (ASI) closed at 39,311.44 points on Friday, down 0.15% from the previous day's close.
• The market capitalization of the NSE fell by N13.4 billion to N13.4 trillion.
• The top gainers on the NSE were:
  • Dangote Cement (DANGCEM) +2.4%
  • Guaranty Trust Bank (GTBank) +1.9%
  • Zenith Bank (ZENITHBANK) +1.8%
• The top losers on the NSE were:
  • Nigerian Breweries (NB) -2.1%
  • Unilever Nigeria (UNILEVER) -1.9%
  • Nestle Nigeria (NESTLE) -1.8%

Economy:

• The Nigerian economy grew by 2.01% in the third quarter of 2022, according to the National Bureau of Statistics (NBS).
• The country's inflation rate rose to 20.3% in November 2022, up from 19.9% in October 2022, according to the NBS.
• The Central Bank of Nigeria (CBN) has maintained its monetary policy rate at 15.5% to support economic growth and stability.

Currency:

• The Nigerian naira (NGN) weakened against the US dollar (USD) on the official market, trading at N435.50/USD on Friday.
• The parallel market rate, also known as the black market rate, was around N570/USD on Friday.

Commodities:

• Crude oil prices rose to $74.50 per barrel on Friday, up from $72.50 per barrel the previous day.
• The price of Brent crude oil, which is the global benchmark, rose to $76.50 per barrel on Friday.

Other News:

• The Federal Government has announced plans to issue a 10-year bond to raise funds for infrastructure development.
• The CBN has introduced a new policy to encourage the use of digital payments in the country.
• The NSE has launched a new trading platform to improve market efficiency and reduce trading costs.

Market Analysis:

• Analysts at FBNQuest Securities have predicted that the NSE ASI will continue to trade sideways in the short term, with a potential upside of 5-10% in the medium term.
• Analysts at Renaissance Capital have predicted that the Nigerian economy will grow by 2.5% in 2023, driven by a recovery in the oil sector and improved agricultural output.

Please note that these are just some of the recent financial news and market updates from Nigeria, and the information may not be comprehensive or up-to-date.