Wealth Wednesday
Ranora Daily - Your daily source for reliable market analysis and news.
Market Overview
Good evening and welcome to today’s market overview. Expect key updates, movements, and insights to wrap up your day.
Nigerian News & Market Update
NNPCL (Nigerian National Petroleum Company Limited), Akwa Ibom Govt, GACN (Gas Aggregator Company Nigeria Limited) Sign $3.5billion MoU On Gas Industrialization:
The South-South Gas Utilization Forum 2025 in Uyo gathered key government officials, NNPC executives, and GACN leaders to promote regional gas industrialization, signaling strong commitment to gas development and potential new investment opportunities. - Channels
GTCO Emerges First Listed Financial Institution on NGX to Cross ₦100 Per Share:
Guaranty Trust Holding Company (GTCO) became the first listed financial institution on NGX to exceed ₦100 per share, closing at ₦103.20, up from ₦93.85. This milestone follows its $105 million capital raise and London Stock Exchange listing, alongside an additional 2.29 billion shares listed on NGX, bringing total outstanding shares to 36.43 billion.- Thisday
Fixed Income (FGN Bonds)
Nigeria Sectoral Indices Performance
Global News & Market Update
Stocks Bounce as Trump Denies Plan to Fire Powell:
Stocks dipped after reports that Trump considered firing Fed Chair Powell, raising concerns about Fed independence. Markets later rebounded when Trump denied the plan, calling it “highly unlikely.” Legal experts confirmed a president cannot dismiss the Fed Chair without cause, calming investor fears. - Bloomberg
Goldman profits jump 22% after investment banking gains:
Goldman Sachs’ profits rose 22%, driven by record equities trading and strong investment banking fees, especially M&A advisory. The bank also raised its dividend, signaling confidence and attractive returns for investors. - Financial Times
Indices, Commodities & Currencies
Fixed Income (USA Bonds)
Events
Highlights of the day
Today’s highlights include GTCO crossing ₦100 per share, a major gas industrialization MoU in Nigeria, global markets rebounding as Trump denied firing Fed Chair Powell, and Goldman Sachs reporting strong profits.