Wall St. edges higher on Microsoft’s beat, rate cut optimism
Businessam Staff
July 19, 2019
Wall Street’s main indexes inched higher on Friday after solid results from technology giant Microsoft added to an upbeat mood following hints from a top Federal Reserve official that a U.S. interest rate cut could be imminent. Microsoft Corp), the most valuable U.S. company, rose 1.7% as strength in its cloud business helped it beat […]
Wall St. flat as railroads slide after CSX signals trade impact
Equities, wall streetJuly 17, 2019
U.S. stocks treaded water on Wednesday as trade-related weakness hurt CSX Corp’s profit, leading to a decline in railroad stocks and offsetting gains in shares of Abbott and Qualcomm. Shares of CSX recorded the steepest fall on the benchmark index, sliding 8.3% after the company posted lower-than-expected quarterly profit and cut its full-year revenue forecast. […]
Profit taking: Investors net worth drop further by N110 billion on NSE
Businessam StaffJuly 16, 2019
The Nigerian equities market opened trading for the week on Monday on a negative mood with the market indicators shedding 0.79 per cent. Specifically, the market capitalisation shed N110 billion or 0.79 per cent to close at N13.812 trillion compared with N13.922 trillion achieved on Friday. Also, the All-Share Index which opened at 28,566.79 dipped […]
Wall Street rises on rate cut optimism; S&P 500, Dow hit new highs
Businessam StaffJuly 12, 2019
The S&P 500 and the Dow Jones Industrial Average hit fresh record highs on Friday, as the indexes continued a strong run for the week on hopes of an interest rate cut this month, while investors waited for the start of the corporate earnings season. In his two-day testimony before Congress, Federal Reserve Chairman Jerome […]
S&P 500 jumps above 3,000 for the first time after the Fed chief signals a rate cut is coming
Businessam StaffJuly 10, 2019
Stocks jumped to record highs Wednesday after testimony from Federal Reserve Chair Jerome Powell bolstered the case for easier monetary policy in the U.S. The S&P 500 gained 0.6% to break above 3,000 for the first time ever as the energy and tech sectors outperformed. The Nasdaq Composite also hit an all-time high, rising 1%. […]
Airtel gains 10% on debut listing, sustains bullish run on NSE
Adesola AfolabiJuly 9, 2019
Airtel Africa Plc. recorded a 10 percent gain on its first trading day at the Nigerian Stock Exchange (NSE). The stock which was listed at an offer price of N363, increased by the maximum margin of 10 percent to close at N399.30. 100,000 units of the stock were sold, thereby bringing value of […]
Global stocks drop for third day, BASF warning stings Europe
Businessam StaffJuly 9, 2019
World stocks fell for a third straight day on Tuesday after a stinging warning from German chemicals giant BASF about the effects of the global trade war and as hopes dwindled of a hefty U.S. interest rate cut this month. With global macroeconomic clouds looming and markets waiting for policy signals from U.S. Federal Reserve […]
Wall St. falls as Apple drags, sharp rate cut hopes fade
Businessam StaffJuly 8, 2019
U.S. stocks fell on Monday, pressured by a more than 2% drop in shares of Apple Inc and as investors toned down expectations of an aggressive interest rate cut by the Federal Reserve later this month. A surprisingly strong U.S. jobs data on Friday has forced traders to temper hopes of a sharp rate cut […]
SEC cuts cost, time for transmission of deceased investors’ shares
Businessam StaffJuly 4, 2019
The Securities and Exchange Commission (SEC) has cut down the time, processes and costs of the transmission of shares from a deceased investor to their beneficiaries. The capital market regulator said in a statement on Thursday that the decision is to reduce the quantum of unclaimed dividends in the Nigerian capital market. The decision will […]
European shares lifted to 12-month high by Italy, looser monetary policy forecasts
Businessam StaffJuly 4, 2019
European shares closed at their highest in more than a year on Thursday as Italian stocks surged on relief that Rome had avoided European Union disciplinary action and rising expectations of looser monetary policy by major central banks. The pan-European STOXX 600 index rose 0.1%, extending gains to a sixth straight session on optimism that […]