Morning Beats

OPEC output climbs as Saudi opens tap

The Organisation of Petroleum Exporting Countries (OPEC) oil output rose last month as Saudi Arabia pumped at a near-record rate.The Nation

Equities open second half with N120b loss

Nigerian equities reopened for the second half of 2018 on a negative note as market-wide portfolio rebalancing shaved off N120 billion from market values of quoted companies. Equities had started the second half of 2017 also with a similar loss of N120 billion.The Nation

‘NPA rakes in N3b from Calabar Port in three months’

The Nigerian Ports Authority (NPA) raked in about N3 billion from Calabar Port in three months, it was learnt. The amount was realised between January and March this year.The Nation

Customs seizes rice worth over N6m

The Comptroller-General’s ‘Strike Force’ of the Nigeria Customs Service (NCS)  has  intercepted 420 bags of smuggled rice worth over N6.4 million, it was learnt.The Nation

Naira stable at N360/$ at parallel market

The Naira maintained N360 to the dollar at the parallel market on Monday in Lagos. The Nigerian currency had been trading at N360 to the dollar for four days running,The Nation

Lagos cooperatives investment hits N152 billion

Ahead of the 2018 United Nations International Day of Cooperatives, the Lagos State Commissioner for Commerce, Industry and Cooperatives, Mrs. Olayinka Oladunjoye,Guardian

Seven modular refineries boost Nigeria’s self-sufficiency drive

Seven licensed refineries with the ability to process 181,000 barrels of crude oil per day (bpd) have progressed towards completion stage in their attempt to contribute to Nigeria’s self-sufficiency in petroleum refining.Guardian

FMDQ, S&P Dow Jones partner on Nigeria Sovereign Bond Index formation

FMDQ OTC Securities Exchange the foremost debt capital, foreign exchange and derivatives over-the-counter securities exchange in Nigeria, has announced that signing of a cooperation agreement to create and launch co-branded fixed income indices with S&P Dow Jones Indices (“S&P DJI”), the world’s leading provider of financial market indices, had created Nigeria Sovereign Bond IndexGuardian

Manufacturing index expands further on sustained central bank’s intervention

Sustained forex intervention by the Central Bank of Nigeria (CBN) spurred expansion of the nation’s Manufacturing Purchasing Managers’ Index (PMI) as it rose to 57.0 in June, improving from 56.5 index points in May.Guardian

South African Central Bank Calls for Capitec Fee Probe

The South African Reserve Bank has written to the National Credit Regulator requesting a probe into loan-origination fees charged by Capitec Bank Holdings Ltd., according to a person familiar with the matter.Bloomberg

JSE closes weaker as elusive Merkel coalition deal rattles global markets

The Johannesburg Stock Exchange (JSE) closed lower on Monday in renewed risk-off trade as German chancellor Angela Merkel struggles to keep her coalition together‚ and local data reflected a moribund manufacturing sector.Times Live

NSE loses Sh241bn in 3 months of profit-taking

Investor wealth at the Nairobi Securities Exchange (NSE)  fell Sh241 billion in the second quarter of the year as blue chip stocks slid under the weight of profit-taking.Business Daily