The Nigerian Stock Exchange (NSE) appreciated on Wednesday, following resumption from two-day public holiday declared by the Federal Government.
The stock market gained N22bn to close at N9.495 trillion from N9.473 trillion recorded on Friday, while the gauge, All-Share Index, appreciated from 27,577.52 basis points to close at 27,642.13 basis points. Despite 20 stocks closing in the red.
A total of 182.298 million shares valued at N1.788 billion was traded in 2,776 transactions.
The Nigerian Stock Exchange All Share Index rose 0.23 percent, after shares across industrial and consumer goods companies appreciated.
Industrial goods sector climbed 0.48 percent, boosted by 0.87 percent gain from dangote Cement. While, consumer goods sector rode on the back of stocks of Unilever Nigeria Plc (4.99 per cent), Champion Breweries Plc (0.241 per cent) and Dangote Flour Plc (2.37 per cent gain).
However, the financial services sector declined, with shares of Diamond Bank Plc leading with -5.83 percent, sterling Bank Plc 4.95 percent and FCMB Group Plc 4.48 percent.
The oil and gas sector was flat, even after a 10.17 percent rally from Conoil Plc and a 2 percent advance in Oando Plc. The sector was weighed upon by a decline in Seplat Petroleum Development Company Limited.
FirstBank UK Enhances Fixed-Income Workflow Through Bloomberg Integration
FirstBank UK, the UK subsidiary of First Bank Nigeria Limited, has announced its onboarding on Bloomberg’s Trade Order Management System (TOMS) to enhance its fixed-income workflow.
The integration with TOMS is expected to provide FirstBank UK with access to a comprehensive suite of data and analytics, communications, order, and execution management solutions, streamlining its fixed-income bonds business.
As a niche market-maker for its customers in Africa, FirstBank UK plays a vital role in providing market liquidity in cash bonds, particularly in Nigerian, Angolan, Egyptian, and Ghanaian Eurobonds, to manage risk and optimize its inventory.
Olukorede Adenowo, CEO-designate at FirstBank UK, expressed enthusiasm about the integration, stating, “Bloomberg TOMS provides FirstBank UK with a complete end-to-end trading workflow covering African bonds in most of our home markets. The solution enables us to focus on expanding our footprint in the African Fixed Income landscape and deliver a first-in-kind service to our customers in Africa.”
Bloomberg’s TOMS is renowned for enhancing operational efficiency across enterprises. Lisa Bravo, Global Head of Sell-Side OMS at Bloomberg, commented, “We are pleased to help FirstBank UK enhance operational efficiency across its enterprise with our award-winning sell-side order management solution TOMS.”
FirstBank UK had previously digitized its order management workflow by offering clients access to liquidity on its Eurobond Single-Dealer Platform.
The recent integration with Bloomberg TOMS aims to centralize order handling, aggregated custom analytics, and liquidity tools within a single interface, facilitating real-time access to liquidity for customers.
Robert Hagenaars, Head of Markets at FirstBank UK, highlighted the unique feature of real-time access to liquidity in their markets, providing a distinct advantage for their customers.
This move signifies FirstBank UK’s commitment to leveraging advanced technological solutions to fortify its position in the African Fixed Income market and deliver enhanced services to its clientele.
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