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Fitch Ratings has affirmed Ecobank Nigeria Limited’s (ENG) Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. Fitch also affirmed the Bank’s Viability Rating (VR) at ‘b-‘ and National Long-Term Rating at ‘BBB (nga)’. The rating agency released this rating last week, stating that the Bank’s IDRs are driven by its standalone creditworthiness, as expressed […]

The Second Quarter of the year in a matter of days will be over; and at that Q2 earnings of listed firms should start hitting the market from the second week of July. In the past two editions, we did Q2 earnings forecast for the Banking sector and the Manufacturing sector. Our Q2 2022 earnings forecast for[…]

The Nigerian stock market declined last week as Dangote Cement, Airtel Africa, BUA Cement, Presco and other 52 stocks shed weights. The All Share Index and Market capitalization declined by 0.14% to settle at 51,705.61 and N27.875 trillion respectively. An aggregate of 1.12 billion units of shares were traded in 22,349 deals, valued at N13.7 billion. The[…]