S&P, Dow dip on Commerce chief Ross’s trade comment; chips buoy Nasdaq
Businessam Staff
January 24, 2019
The S&P 500 and the Dow Jones Industrial Average dipped on Thursday after U.S. Commerce Secretary Wilbur Ross said the United States and China were a long way from resolving their trade dispute, while a rally in chipmakers lifted the Nasdaq. Ross told CNBC it was too early to judge where U.S.-china trade talks are […]
Active trading in Access Bank stocks as bank cancels EGM for rights issue approval
Adesola AfolabiJanuary 22, 2019
Access Bank Nigeria Plc has cancelled its extraordinary general meeting (EGM) scheduled to take place February 1st, 2019 and expressed its regret over any inconvenience the cancellation will cause shareholders in a notice filed with the Nigerian Stock Exchange. The bank’s EGM announced late last month was meant to address eight special business resolutions of […]
NSE lifts C & I Leasing Plc’s suspension
Afolabi OluwaseunJanuary 17, 2019
The Nigerian Stock Exchange (NSE), has lifted the suspension of trading in the shares of. C & I Leasing Plc The NSE, in a statement referred to its market bulletin dated 13 December 2018, which notified the public of the full suspension of the Company shares to enable the Registrars to update the register of members, sequel to the […]
Stocks turn red, pound finds some peace
Businessam StaffJanuary 17, 2019
Concern over China’s economic outlook and possible U.S. tariffs on European cars dragged stocks lower on Thursday, while an anti-climactic end to the latest chapter in the Brexit saga offered sterling a moment’s peace. Fresh news had been thin on the ground during the European morning, but dealers had more than enough to digest from […]
Tech stocks fuel rally as China combats slowdown
Businessam StaffJanuary 15, 2019
Technology shares spurred a rally in stocks after China ratcheted up stimulus measures to combat slowing growth. Treasuries fell and the dollar advanced. The S&P 500 gained the most in a week, pushing through the 2,600 level that it failed to breach on three occasions last week. The tech-heavy Nasdaq 100 recouped losses over the […]
NSE boss sees market uptick in 2019 H2
Adesola AfolabiJanuary 14, 2019
Oscar Onyema, the chief executive officer of the Nigerian Stock Exchange (NSE), Monday, expressed optimism of a market rebound in the second half (H2) of 2019. According to his prognosis, an expectation of uptick in market activity during the second half of 2019 is based on swift approval and implementation of the 2019 budget. […]
Korea to share success recipes for derivatives market with Nigeria
Adesola AfolabiJanuary 9, 2019
The Republic of Korea has pledged to share with Nigeria the recipes for the success of its derivatives market through a continuous effective collaboration. The collaboration, according to Intae Lee, ambassador of the Republic of Korea will ensure Nigeria attain its economic development goals. Lee stated this in a goodwill message at the official opening […]
U.S. regulator SEC to operate on partial basis due to federal shutdown
Businessam StaffDecember 27, 2018
The U.S. Securities and Exchange Commission (SEC) announced on Thursday that it will partially operate with reduced staff during to the ongoing federal shutdown. The agency will maintain operations for its offices of enforcement and investor complaints. It will also maintain its Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system for company disclosures. “Effective Thursday, […]
Equities market halts two-day bullish trend, dips 1.1% on selloffs in blue chips
Adesola AfolabiDecember 6, 2018
The Nigerian equity market declined by 1.1 percent Thursday after two consecutive days of 1.15 percent gains. The day’s downturn was as a result of sell offs across big caps stocks such as Dangote Cement that fell 2.6 percent, Zenith Bank (-1.5%) and Guaranty Trust Bank (-0.9%). The All Share Index (ASI) thus settled at […]
Equities market sustains gains, as Dangote Cement lifts ASI
Chris IkosaDecember 6, 2018
The equities market sustained gains recorded from Tuesday’s session as investors embarked on strong rally in Dangote Cement stocks which rose 2.7 percent Wednesday. This propelled the All Share Index by 0.5 percent and settle at 31,151.68 points. Year-to-date loss also moderated to -18.5%. Investors wealth thus improved as market capitalisation rose by N52.7 billion […]