Photograph — Naija247News

BUA Cement on Thursday, January 9, 2020, listed on the Nigerian Stock Exchange (NSE) with a market capitalization of over 1 trillion Naira in what is the third major listing on the bourse within a year after telecoms behemoths MTN and Airtel went public in May and July 2019, respectively.

The listing sees the cement maker become the third-largest listed company in Nigeria, second-largest cement company in the country and West Africa, as well as one of the five companies with over N1 trillion market capitalization on the Nigerian bourse. More details here.

Below is the Ventures Africa Weekly Economic Index, for the week ending 3rd of January, 2020. This economic index gives you a glimpse into other recent activities in Nigeria’s economy as well as changes and prices that could affect the economy:

Nigerian Stock Exchange

Data released by the Nigerian Stock Exchange (NSE) as of January 10, 2020, showed that the NSE All-Share Index and Market Capitalization appreciated by 9.07 percent and 16.55 percent to close the week at 29,415.39 and N15.175 trillion respectively. Similarly, all other indices finished higher with the exception of the NSE Oil/Gas index, and NSE ASeM Index which closed flat. 

Top five price gainers and decliners in the week under review:

Top five price gainers

Dangote Cement Plc.

Presco Plc.

Livestock Feeds Plc.

Okomu Oil Palm Plc.

Consolidated Hallmark Insurance Plc.

Top five price decliners

UPDC Real Estate Investment Trust

NCR (Nigeria) Plc.

Union Dicon Salt Plc.

Tripple Gee & Company Plc.

Niger Insurance Plc.

How did the Naira fare?

Nigeria's-Inflation-rate
Picture credit:  PIUS UTOMI EKPEI/AFP/Getty Images

The Nigerian currency rose against the dollar at the close of last week, trading at 361 Naira per dollar, an increase on the N363 per dollar recorded a week before.

How did the price of oil fare?

Brent oil prices closed out the week on the 10th of January, 2020 at $65.24 per barrel, a decrease from $68.68 a week earlier. And stakeholders continue to see a downward risk to prices despite the United States and Iran tensions, with further pressure on OPEC to implement even deeper production cuts in order to keep Brent oil prices around $60 per barrel through 2020.

Elsewhere on Ventures

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