Oando, Honeywell, University Press push stock market further south

Nigeria’s equities market furthered its movement into the negative territory by 0.09 percent as more investors on Tuesday sold shares of Oando, Honeywell Flour Mills, University Press, Academy Press and UPDC.

The market’s performance indicators – the All Share Index (ASI) and equities market capitalisation – which opened the week on a negative note decreased further to 99,217.6 points and N56.126trillion.

The market’s year-to-date (YtD) return decreased to 32.69 percent at the close of trading on Tuesday.

Naira weakens at official market amid Cardoso’s market confidence

By Hope Moses-Ashike • June 26, 2024

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.