Wall Street headed lower as yuan slide deepens trade fears

Businessam StaffAugust 5, 2019

U.S. stock index futures pointed to more losses on Monday as China’s yuan hit its lowest in a decade, spurring a continuation of a sell-off on trade concerns on Friday that generated the S&P 500’s worst weekly performance of 2019. China let the yuan breach the key 7-per-dollar level for the first time since 2008 […]

Trade friction hits stocks, yuan slumps to lowest in over a decade

Businessam StaffAugust 5, 2019

Dollar

Global stocks fell for a sixth day on Monday as an escalation of trade tensions between the United States and China spooked markets and the yuan fell to its lowest levels in over a decade. Safe-haven assets including the Japanese yen, core government bonds and gold rallied. European shares fell to two-month lows, with the […]

Trump’s tariff notice triggers fresh decline in Asian stocks

Businessam StaffAugust 2, 2019

Asian stocks fell sharply Friday morning following U.S. President Donald Trump’s announcement that he will hike tariffs on some 300 billion dollars’ worth of Chinese goods to 10 percent starting on September 1. Japan’s benchmark Nikkei 225 Stock Average lost 2.36 percent at the end of the morning session, while Hong Kong’s Hang Seng Index […]

Wall Street falls as tech drags, Fed meeting eyed

Businessam StaffJuly 29, 2019

U.S. stocks slid on Monday as technology shares fell in the run up to earnings from tech companies, which will test the impact of trade tensions on global growth, and ahead of the Federal Reserve’s policy-setting meeting. The S&P 500 technology sector .SPLRCT, the index’s best performer so far this year dropped 0.70%. However, a […]

NSE: Market indicators sustain bearish run with 0.35% loss

Businessam StaffJuly 26, 2019

The nation’s bourse on Thursday sustained its bearish run, recording a 0.35 percent loss due to sell pressure. The All-Share Index decreased by 98.13 points, representing a loss of 0.35 percent to close at 27,990.61 points. Similarly, the market capitalisation which opened at N13.689 trillion lost N48 billion to close at N13.641 trillion. The downtrend […]

U.S. stocks depreciate amidst earnings releases as Euro reverses slide

Businessam StaffJuly 25, 2019

Stocks of U.S companies fell Thursday, from record highs amid the release of corporate results, while the euro recovered from a two-year low. The S&P 500 dropped from an all-time high and the Dow Jones Industrial Average slumped for a second day as investors digested a flood of earnings. 3M initially advanced after beating estimates […]

Weak earnings from U.S bellwethers propel sluggish open on Wall St.

Businessam StaffJuly 24, 2019

Weak earnings from American bellwethers Caterpillar and Boeing propelled a slide on Wall St. when trading activities opened Wednesday. The weak earnings, pronounced concerns over slowing global growth. Data from the American bourse showed the Dow Jones Industrial Average fell 86.95 points, or 0.32%, at the open to 27,262.24. The S&P 500 opened lower by […]

Interswitch resumes plan to list on NSE, hires JPMorgan

Businessam StaffJuly 23, 2019

Interswitch, a Nigerian-based payments platform, has hired financial advisers to resume plans for listing on the Nigerian Stock Exchange (NSE) and the London Stock Exchange. JPMorgan Chase & Co., Citigroup Inc. and Standard Bank Group Limited are among the firms working on an initial public offering (IPO), which may value the financial technology company at […]