Markets

Nairametrics reviews the best Mutual Funds in October, judging by their performance.

Naira stabilizes at black market as CBN continues its intervention in forex market

Currencies

Naira falls at black market as dollar supply drops significantly

by Chike Olisah

At the black market where forex is traded unofficially, the Naira depreciated against the dollar to close at N465/$1 on Monday.

Netflix, Amazon, Zoom, Shopify drop over 10%

Zoom Video was down by over 17% and Amazon and Netflix plunging about 5.1% and 8.6%, respectively.

Ripple locks 800,000,000 XRP, prices push up

Cryptos

Unknown identity transfers 89,999,980 XRP to Coinbase

Unknown identity transferred 89,999,980 XRP worth 22,515,762 USD from an unknown wallet to Coinbase

Ecobank, Nigerian Stock Exchange, Beta Glass, Forte Oil, Transcorp lead gainers chart on Wednesday, Law Union, AIICO, Honeywell top gainers’ chart on Wednesday, Investors lose N9.14 billion to bearish trades on Wednesday , Dangote, Cadbury, Flourmills regains bullish momentum run at Nigeria’s Stock Market, AIRTEL, NESTLE, NB lead the Bulls a home win, Investors party with N106.3 Billion

MTN Nigeria, GTBank, WAPCO fired up, investors gain N642 billion

Today’s market upturn was impacted by gains recorded in large and medium capitalized stocks.

Flour Mills makes one of the largest contributions to COVID-19 relief fund, Bloody February: Sell off of shares by investors extend Flourmillers loss on NSE to N25 billion

Flour Mills Vice Chairman acquires additional shares worth N3.32m

by Omokolade Ajayi

The Food and Agro-Allied Group notified NSE that its Vice-Chairman acquired 120,448 additional units.

PFAs make N1.69 trillion ROI , Pension Contributions in Nigeria rose by N169.9 billion in 3-month , PenCom calls for thorough scrutiny of dead RSA holders’ benefits, PenCom discontinues Employee Death Benefit Account , PFAs boost investment in infrastructure by N17.77 billion in one year , Pension: Low RSA balances - a subtly growing concern, PENCOM boss queried for spending unapproved funds, N5 billion on 360 staff in 8-month , How negative performance in the capital market affected PFAs in 2019, PenCom seeks pension bonds to clear N400 billion arrears as retirees groan, PenCom set to offer pension bonds to offset unpaid pension arrears, Is the pension asset just another cookie jar?, PenCom threatens companies with no insurance covers for their staff , PENCOM Notifies RSA holders on the mandatory data recapture exercise

Funds Management

PENCOM fix Nov. 16 for launch of RSA Transfer System

by Chidi Emenike

November 16, 2020, has been set as the official date for the launching of the Retirement Savings Account transfer system.

ExxonMobil, JP Morgan Chase, MasterCard Up by over 10%

Mastercard was up 11% trading at $350.50, JP Morgan chase was up more than 10% trading at $113.63.

COVID-19: Oyetola commends Cititrust Holdings for supporting Osun Govt

Funds Management

Cititrust’s Asset Management arm secures approval to operate in Kenya as Funds Manager

by Abiola Odutola

CFS Asset Management Limited has been granted operating license by the Kenyan Government to operate as a fund manager.

FCMB Pensions, AIICO Insurance Plc to Offer Right Issue Of ordinary shares worth N3.5 billion, DF Holdings, DF Holdings acquires additional 27.17 million units of AIICO shares worth N30 million.

Company Results

AIICO Insurance  Plc posts N5.2 billion profit In 9M 2020, up by 17%

by Chidi Emenike