Wall Street falls as energy drags; focus shifts to Fed meeting
Businessam Staff
September 17, 2019
U.S. stocks edged lower on Tuesday as a drop in oil prices weighed on the energy sector, while investors stayed away from making big bets ahead of the Federal Reserve’s two-day policy meeting, where it is widely expected to cut interest rates. The energy index fell 1.59% and was the biggest drag on the benchmark […]
Now that Amaechi has lost comfort with $195m security contract to Israeli firm
Samson EchenimSeptember 16, 2019
By Samson Echenim For two years, Nigerians have talked about a “reformed” security contract to an Israeli firm, HLSI Security Systems and Technologies Limited valued at $195 million for securing Nigeria’s maritime domain. It’s been two years of paying $50,000 monthly to a company whose services are yet to be seen, with men of the […]
Wall Street rises on Apple, trade optimism
Businessam StaffSeptember 11, 2019
U.S. stocks rose on Wednesday, lifted by Apple a day after the launch of its latest iPhones and as China moved to ease trade tensions with the United States by exempting certain goods from additional retaliatory tariffs. Apple Inc rose 2.60%, boosting all three major indexes by the most, as it also rolled out a […]
U.S. stocks open weaker as treasuries edge lower
Businessam StaffSeptember 10, 2019
U.S. equities followed European shares lower as investors marked time before key central bank meetings in the coming days. The dollar was steady and Treasuries erased earlier gains on Tuesday. The three main U.S. indexes opened with modest declines. The Stoxx Europe 600 Index dropped a second day, led by food and beverage and health-care […]
Equities market begin 2nd week in September red
Businessam StaffSeptember 9, 2019
The Nigerian equity market at the close of Monday’s transactions shed 21 basis points (bps) to kick off the second week of September on a negative note. Market lead indicator – the All-Share Index (ASI) shed 56.73 absolute points, representing a decline of 0.21 percent to close at 27,089.84 points. Similarly, market capitalization depreciated by […]
Global stocks gain on hopes of central bank stimulus
Businessam StaffSeptember 9, 2019
Global stock markets gained on Monday as investors pinned their hopes on stimulus that’s expected from the world’s central banks to support slowing growth. European markets opened higher after data showed a surprise rise in German exports and on expectations of stimulus by the European Central Bank later this week. The pan-European STOXX 600 index […]
Wall St. opens higher after China stimulus plan, jobs data
Businessam StaffSeptember 6, 2019
U.S. stocks opened higher on Friday as China rolled out a stimulus plan to shore up its flagging economy and weak jobs data cemented expectations of an interest rate cut by the Federal Reserve later this month. The Dow Jones Industrial Average .DJI rose 62.10 points, or 0.23%, at the open to 26,790.25. The S&P […]
NSE reclassifies Oando shares as low-oriced stock
Businessam StaffSeptember 6, 2019
The Nigerian Stock Exchange has announced the reclassification of Oando Plc from Medium-Priced Stock to Low-Priced Stock. A statement by the exchange said the reclassification became effective Thursday. This is in compliance to Rule 15.29: Pricing Methodology, Rulebook of The Exchange, 2015 (Dealing Members’ Rules), the NSE said. Oando shares dropped below the N5 mark […]
Wall Street rises on strong Chinese data, easing geopolitical concerns
Businessam StaffSeptember 4, 2019
Wall Street’s main indexes rose on Wednesday as fears of a global economic slowdown were calmed by robust economic data from China, while easing tensions in Hong Kong added to an upbeat mood. Activity in China’s services sector expanded at the fastest pace in three months in August, providing a boost to the world’s second-largest […]
Hong Kong shares jump to one-month high, extradition bill withdrawn
Businessam StaffSeptember 4, 2019
Hong Kong’s main share index surged more than 4 percent on Wednesday, ahead of the government’s formal withdrawal of the proposed extradition bill that sparked three months of protests in the former British colony. According to reports, Carrie Lam, Hong Kong chief executive later announced the formal withdrawal of the bill at a meeting after […]