All posts by Afolabi Ogunde

• 
  Goldman Sachs 3Q Earnings Big Disappointment

  Goldman Sachs, the world’s most profitable and hitherto respected Investment Banks has shocked analysts and industry players alike by releasing 3Q earnings that fall far below expectations. Goldman Sachs posted a loss of $393 Million, its second...

  • Posted October 18, 2011
  • 0
• 
  All Share Index Comes Out Swinging, Up 1.01%

  The All Share Index commenced the week on a positive note appreciating by 1.01% to close at 20,071.36. Winners in the banking sector included Diamond (+4.95%), Sterling (+3.82%), FCMB (+3.75%), GTB (+2.38%). First Bank, Skye Bank and...

  • Posted October 17, 2011
  • 0
• Skye Bank 3Q Results Released

  Skye Bank has released its unaudited 3Q result posting a 10.8% growth in Earnings from N 66.2 Billion in Q3 2010 to N 73.3 Billion. Net profit was also up 9.5% to N 9.4 Billion from N...

  • Posted October 17, 2011
  • 0
• Dollar Demand Wanes at CBN Auction, Naira Strengthens

  The Naira strengthened today at the CBN auction due to unusually low demand for the US Dollar. Demand for the greenback fell approximately 50% from $592 Million at the last auction to $297 Million, far below the...

  • Posted October 17, 2011
  • 0
• 
  AP Moller Maersk Planning Yuletide $130 Million Investment In Nigeria

  Danish super shipping firm AP Moller-Maersk has indicated it sees enormous potential in Nigeria and plans to increase its investment in the country substantially. According to head of Maersk Line in Central and West Africa, David Forest,...

  • Posted October 17, 2011
  • 0
• ETI Declares Bumper 3Q Earnings, Profits

  EcoBank Transnational Incorporated has reported 3Q earnings of N 124 billion up 32% from the same period last year. Also Net profit increased by 55% over the same period last year to N 19 Billion. The financial...

  • Posted October 17, 2011
  • 0
• 
  G-20 Sets One Week Deadline For Plan, Markets Respond Favourably

  Markets across Europe this morning are reacting positively to comments and deadlines given at the G-20 conference held over the weekend. The STOXX 50 (+1.32%), FTSE 100 (+0.96%) and DAX (+1.66%) are rallying as market sentiment has...

  • Posted October 17, 2011
  • 0
• 
  All Share Index Closes the Week on a Positive Note

  The Nigerian Stock Market closed the week on a positive note, gaining 0.29% and bringing the All Share Index to 19,869.85. The banking sector put on a bullish performance today driven by institutional purchases of virtually all...

  • Posted October 14, 2011
  • 0
• 
  Dangote Group To Invest $350 Million in Congo

  Africa’s richest man and the chairman of Dangote Group, a conglomerate spanning interest in cement, sugar, flour manufacturing and other key sectors of the African economy, has inked a $350 Million deal with the Republic of Congo....

  • Posted October 14, 2011
  • 0
• Headline Inflation Driven Up To 10.3% By Food and Electricity Prices

  According to figures released by the National Bureau of Statistics in Abuja, headline inflation in the country has mushroomed to 10.3%. Inflation was 10.2% in June; however effective monetary policy measures employed by the cbN had cause...

  • Posted October 14, 2011
  • 0