Banking stocks sustain uptick in Nigerian market as NSEASI closes marginally up 0.02%
Kayode Ogunwale
February 21, 2018
The Nigerian bourse extended gains from the previous trading session Wednesday on the back of rebound in banking stocks, which saw benchmark index, the NSEASI, marginally up by 0.02 percent. Gains in GUARANTY (+1.6 %), ZENITH (+1.5%) and UBA (+3.3%) ensured market index closed positive at 42,158.32 points, while year-to-date return remained flat at 10.2 […]
London listed miners’ huge earnings, dividend payout revive shareholders’ confidence
Businessam StaffFebruary 21, 2018
By Temitayo Ayetoto… Huge earning results of giant players in the mining industry have begun reviving dwindling confidence of shareholders as three of the big four London-listed miners released their earnings this February. In apparent move to placate dividend-thirsty shareholders, Glencore Plc., which traditionally favoured stuffing its war chest over rewarding shareholders, surprised the market […]
Oil prices down in Asia Wednesday early trade due to firmer U.S. dollar
Businessam StaffFebruary 21, 2018
Oil prices are down again Wednesday morning in Asia, driven by a recovery in the dollar which pulled down fuel demand. Crude Oil WTI Futures futures for April delivery were trading at $61.33 a barrel mid-morning in Asia, down 0.74%. Brent crude futures for April delivery, traded in London, were down 0.31% at $64.84 per […]
DANGCEM drives Nigeria stock index up 0.38% amid sell-offs across sectors
Kayode OgunwaleFebruary 20, 2018
Smattering from a week opening loss, the Nigerian equities market recorded modest gains Tuesday as uptick in Dangote Cement (DANGCEM) and buying interest in some large caps helped push benchmark index up 0.38 percent, despite sell-offs across sectors. The day’s trading session was majorly characterised by sell-offs across sectors. However, buy interest in some large cap […]
Electric vehicle growth could see oil demand peak by 2030 – Fitch
Businessam StaffFebruary 20, 2018
Electric Vehicle (EV) adoption is an increasing threat to oil demand, which could plausibly peak before 2030, Fitch Ratings says in a new report, ‘Batteries Update: Oil Demand Could Peak by 2030′. The report examines the impact of EV adoption on oil prices and the implications for various sectors. “This is not our core scenario, […]
Fear of job losses as boardroom crisis rocks Nigerian owned West African Venture
Businessam StaffFebruary 20, 2018
The number of the unemployed in the country is set to significantly rise as information gathered revealed that expatriates brought in to help manage a fully owned Nigerian firm in the oil and gas sector are set to take over the company’s management and lay off workers. West African Venture (WAV), a leading logistics company […]
Dangote, CNN renew partnership deal, first African brand to join Great Big Story
Businessam StaffFebruary 20, 2018
By Ademola Badmus… CNN International Commercial (CNNIC) and Dangote Industries Limited (DIL) have renewed their long-term partnership for sponsorship within CNN Marketplace Africa. The deal also includes launching a new brand campaign on CNN TV and Digital, and – in a media-first – integrating Dangote Industries with a video series on cinematic storytelling network Great […]
Oil trades mixed as OPEC’s Barkindo sees global demand grow 1.6m bpd in 2018
Goddey OdinFebruary 20, 2018
Oil prices on both sides of the Atlantic traded in opposite direction on Tuesday, with the US oil (WTI) supported on supply disruption while Brent trades on the back foot amid broad-based US dollar strength after Barkindo Mohammad, OPEC Secretary-General said on Monday that global oil demand for 2018 is estimated to grow 1.6 million barrels […]
Nigeria places 3rd in global unemployment list with 18.8% after South Africa, Greece
Goddey OdinFebruary 19, 2018
Nigeria’s unemployment rate, which got worsened in the third quarter of 2017 at 18.8 percent, according to the National Bureau of Statistics (NBS), has been ranked third after South Africa and Greece in the global unemployment rate ranking. According to the list released by Spectator Index on Twitter, Monday, South Africa, and Greece, occupy the […]
Nigerian stocks close in the red as NSEASI goes down 1.5%
Businessam StaffFebruary 19, 2018
The Nigerian equities market closed Monday in the red as benchmark index (NSEASI) fell 1.5 percent to settle at 41,988.18 points while year-to-date (YTD) return moderated to 9.8 percent from the over 13 percent recorded some weeks back The day’s negative performance saw market capitalization paring N233.5 billion to closed at N15.1 trillion on account […]