Stock market’s indices dip further by 0.5%
Equity transactions sustained sliding profile for the fifth consecutive trading sessions, occasioned by heavy profit taking, causing the All-Share Index (ASI) to plummet further by 0.5 per cent. Specifically, at the close of transactions yesterday, ASI shed 162.52 absolute points, representing a decline of 0.48 per cent to close at 33,449.17 points, while the market…
Equity market depreciates 0.77% on banks’ stocks slump
Central Bank of Nigeria (CBN) huge fines on four deposit money banks over alleged illegal fund repatriation on behalf of MTN Nigeria weighed heavily on the local bourse yesterday, causing the All-share index to slide by 0.77 per cent. The Nigerian Stock Exchange-All Share Index (NSE-ASI) decreased by 272.27 absolute points, representing a 0.77 per…
Forte Oil shareholders okay divestment plans
Shareholders of Forte Oil Plc have endorsed the firm’s proposal to restructure the business by divesting its upstream services, power generating businesses in Nigeria and downstream business in Ghana. The shareholders gave the approval at the company’s yearly general meeting held in Lagos at the weekend. While notifying the Nigerian Stock Exchange (NSE)…
Groups justify Forte Oil divestment from upstream, Ghana businesses
That Forte Oil Plc went into a business area it had no core competence in and running out when it got its fingers burnt, is really not a problem for its shareholders, as long as they continue to enjoy a good return on their investments.
Dangote Cement, Forte oil buoy NSE’s indices by N66 billion
Transactions in the equities sector of the Nigerian Stock Exchange (NSE) re-opened on a bullish note yesterday, occasioned by price gains recorded by major highly capitalised stocks...
Forte Oil, Cadbury, others lift NSE’s indices by N24b
Following heavy price gains recorded by major highly capitalised stocks, especially Forte oil and Cadbury, equity transactions on the Nigerian Stock Exchange (NSE) closed high on Friday, as market capitalisation appreciated by N24 billion.
Neimeth, Forte oil, others enhance NSE’s indices by 2.47%
Neimeth International Pharmaceutical closed higher at the end of transactions on Friday, at the trading floor of the Nigerian Stock Exchange. It led others with 24.62 per cent to close at N0.81 per share.
Forte Oil unveils growth plans for sustainable operations
Forte Oil Plc, at the weekend, unveiled a strategic growth plan aimed at enhancing business profitability and increasing its market share in the industry.