FMDQ Archives - Inside Business Africa

Jan182021 by Joshua OlotuNo Comments

FMDQ admits CPs of Total, two others on platform

Business

FMDQ Securities Exchange, through its board listing and markets committee, has approved the quotation of the Total Nigeria Plc’s ₦2.25 billion Series 1, and ₦12.75 billion series two commercial papers under its ₦30.00 billion CP Issuance Programme. Also admitted are Mixta Real Estate Plc’s ₦2.00 billion Series 32 commercial paper under its ₦20.00 billion CP Issuance Programme, as well as the registration of the Valency Agro Nigeria Limited ₦20.00 billion commercial paper programme, on its platform. FMDQ, through innovative evolution, has continued to avail its credible and efficient platform as well as tailor its listing and quotation services to suit the needs of issuers and its registration members (sponsors of the issue on FMDQ Exchange). The debut issuance of Total Nigeria Plc...

FIC Markets’ Turnover Tumbles by 35% in April

Capital Market

The Fixed Income and Currency (FIC) markets felt the impact of the ravaging COVID-19 pandemic in the month of April as investors reduced their business transactions on the FMDQ platform to the tune of about 35 percent as turnover dropped by N8.96trillion. Turnover in the review month stood at N16.7trillion compared to N25.66trillion recorded in the same period of March. The FMDQ has attributed the general decrease in market activities to the COVID-19 pandemic and the associated exit by foreign portfolio investors, as well as the lockdown directive to curb the spread of the virus. Meanwhile, the market recorded a year-on-year (YoY) increase of 2.02 per cent (N0.33trillion) from the turnover recorded in April 2019 (N16.37trillion) as Foreign Exchange (FX) and OMO bills remained t...

FIC records N25.66 trillion turnover as indices soar by N344 billion

Economy

Turnover in the Fixed Income and Currency (FIC) markets stood at ₦25.66 trillion at the end of transactions last month, March 31, 2020. According to FMDQ, the figure represents 9.33 per cent increase when compared to ₦23.47 trillion turnover achieved in February 2020.Also, total FX market turnover in March 2020 stood at $28.92 billion (₦10.73 trillion), representing 6.64 per cent ($1.80 billion) increase from $27.12 billion turnover recorded in February 2020. Meanwhile the Nigerian equities market sustained rising profile at the end of yesterday’s transactions, as market capitalisation increases by N344 billion. Specifically, the All-Share Index (ASI) increased by 659.99 absolute points, representing a growth of 3.02 per cent to close at 22,539.94 points. Similarly, the ...