Wall St. rallies on stimulus cheer, Apple leads tech gains

Businessam StaffAugust 19, 2019

U.S. stocks surged on Monday on growing hopes that major economies would act to stymie the slowing economic effects of escalating global trade tensions, while technology stocks rose led by a nearly 3% gain in Apple’s shares. China’s central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for […]

Stock prices’ free fall widens investment opportunities

Businessam StaffAugust 16, 2019

The Nigerian equity market is offering long-term investors opportunities to invest as most of the stock prices have declined significantly below their opening values. The bear run in the stock market, which has depressed the benchmark Nigerian Stock Exchange (NSE) All-Share Index (ASI) by 13.1 percent so far, has cut the prices of many stocks […]

Wall Street slides on geopolitical, recession fears

Businessam StaffAugust 12, 2019

U.S. stocks dipped in a broad sell-off on Monday as rising geopolitical tensions spooked investors away from equities and the extended U.S.-China trade war stoked fears of impending global recession. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 12, 2019. REUTERS/Eduardo Munoz All three major U.S. […]

Wall Street extends fall as Trump’s comment amplifies trade fears

Businessam StaffAugust 9, 2019

Wall Street’s main indexes added to losses on Friday after President Donald Trump said he was not going to make a deal with China for now, exacerbating fears that the U.S.-China trade stand-off would aggravate the global economic slowdown. Trump’s remark followed a report that said Washington was delaying a decision to allow some trade […]

Bulls resurgence lifts stock market

Businessam StaffAugust 8, 2019

The Nigeria stock market broke the stranglehold of the bears on Thursday and inched up marginally as the All-share index moved up to 27,424.92 from 27,412.36 on Wednesday. Similarly, market capitalisation rose from N13.358 trillion on Wednesday to N13.365 trillion on Thursday. At Thursday’s trading, a total of 31 stocks recorded price gains, while 50 […]

Wall Street gains on upbeat data, firming yuan

Businessam StaffAugust 8, 2019

U.S. stocks rose on Thursday as better-than-expected domestic and Chinese data as well as a steadying yuan offered some comfort to investors rattled by an escalation in trade tensions. However, the consumer staples sector came under pressure after Kraft Heinz Co shares tumbled 15% as the packaged food maker pulled its full-year forecast and wrote […]

Wall Street sinks as U.S. bond market stokes recessionary fears

Businessam StaffAugust 7, 2019

U.S. stocks plunged on Wednesday, with the Dow Jones Industrial Average falling more than 450 points, as investors were spooked by the latest signals from the bond market that pointed to heightened risk of a recession. U.S. Treasury yields took another dramatic drop and the premium on three-month bill rates above 10-year note yields was […]

NSE: Index sheds 0.52%

Businessam StaffAugust 7, 2019

The stock market returned to bearish mode as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) depreciated by 0.52 percent to close at 27,527.40 after opening positively on Monday. The depreciation came on the day the NSE unveiled internationally renowned award-winning musician, Innocent Ujah Idibia popularly known as 2Baba as its good cause ambassador. Sell […]

U.S. stocks claw back gains as trade-war panic eases

Businessam StaffAugust 6, 2019

U.S. and European stocks clawed back some of their recent losses after China moved to stabilize its currency, providing a respite for investors stung by an escalation in trade tensions. The S&P 500 Index advanced while manufacturing shares led the Stoxx Europe 600 higher as China fixed the yuan at stronger than 7 per dollar, […]