Nigerian equities’ bull-run halted as benchmark index declines 0.70%
Jerome Ushakang
December 8, 2017
Equities transaction on the Nigerian Stock Exchange (NSE) Friday closed negative as the all-share index (ASI) fell by 0.70 percent to close at 39,257.53 basis points in contrast to 1.17 percent appreciation achieved previously. Another key market indicator, market capitalization dipped by N1.2 billion to close at N13.6 trillion. Similarly, the volume of traded shares […]
There was no time I gave directive to stop Oando’s investigation—Adeosun
Businessam StaffDecember 8, 2017
Kemi Adeosun, Nigeria’s finance minister has denied allegations that she gave directive to the suspended director general of the Securities Exchange Commission (SEC), Mounir H. Gwarzo, to discontinue investigations into Oando for financial recklessness and infractions of the Investment and Securities Act (ISA). Gwarzo has alleged that his suspension was due to “his refusal to […]
Nigerian market operators predict positive year-end as ASI closes above 39,000pts
Jerome UshakangDecember 8, 2017
Market operators and analysts are in consensus that the Nigerian equities market would close higher year-end, giving the latest bullish push and positive economic data as influencers. Gariba Kurfi, managing director, Apt Securities, and Funds, who spoke to business a.m in an exclusive interview, said that the Nigerian equities market would likely end the year […]
Sterling Bank revives bond-sale plan as Nigerian rates ease
BloombergDecember 8, 2017
Sterling Bank Plc resuscitates a plan to sell bonds to shore up its capital levels, Bloomberg reports, on expectations that Nigerian borrowing costs will ease. A “more favorable” outlook for interest rates will allow the company to raise 27 billion naira ($75 million) of debt in the first half of 2018, Abubakar Suleiman, an executive director […]
Nigeria equities extend gaining streak to 7th consecutive session as index jumps 1.2%
Businessam StaffDecember 7, 2017
The bullish run in the Nigerian equities market extended into the seventh consecutive trading session as benchmark index rose by 1.2 percent to settle at 39,534.14 points. Market year-to-date gain improved to 47.1 percent just as market capitalization added N159.8 billion to close at N13.8 trillion. The developments are in tandem with global markets, which […]
Global consumer spending on mobile apps to cross $110bn by 2018
Businessam StaffDecember 7, 2017
Worldwide consumer spending on mobile apps will grow by roughly 30 percent next year to over $110 billion, according to a new report from app market data and insights company, App Annie, that forecast the state of the app economy for the next year. Games will remain the biggest moneymaker for app developers although a […]
Cryptocurrency retains stunning rise as Bitcoin sails past $14,000
Businessam StaffDecember 7, 2017
Bitcoin flew past the $14,000 mark early this morning less than a full day after it passed $12,000 for the first time. The cryptocurrency, which has staged a stunning rise from near-anonymity at the beginning of the year when its price was below $1,000, was up 3.1 percent at $14,133.93 at the time of writing, […]
Bitcoin sets new record amid crypto-bubble fears, breaks through $13,000 barrier
Businessam StaffDecember 6, 2017
The price of bitcoin has surged to a new all-time high of $13,000 Wednesday. The world’s first cryptocurrency has nearly doubled in price over the past month. Bitcoin has set several records in recent days. Last week, the digital currency hit both the $10,000 and $11,000 levels for the first time, crossing over $12,000 on […]
Libya to keep oil output stable as OPEC agree to joint cap of 2.8m bpd for Libya, Nigeria
Businessam StaffDecember 6, 2017
Libya, which has been stepping up efforts to boost oil output, is now in a position to help curb a global crude glut with its plan to maintain production at current levels until the end of next year. While Libya wasn’t subjected to a specific production limit when OPEC met on Nov. 30, it committed […]
Nigerian stocks sustain rally, close 37-month high with 1.37% rise in index
Businessam StaffDecember 5, 2017
Nigeria’s equities benchmark index closed in the green for the fifth consecutive day Tuesday, rising 1.37 percent to settle at 38,494.43 points – a level last achieved 37 months ago (October 2014). Thus, year-to-date return of the benchmark index expanded to 43.2 percent while market capitalization rose by N181.0 billion to close at N13.4 billion. […]