Global equities markets bearish as stocks experience corrections
Businessam Staff
February 12, 2018
Performance of the global equity market was largely bearish last week as 15 of the 16 indices under coverage closed the week in the red. The poor performance was largely due to speculations of a possible interest rate hike by the US Federal Reserves on the back of higher inflation levels as well as market […]
Nigeria’s House Speaker explains reasons for changes in structure of The Stock Exchange
Ajose SehindemiJanuary 29, 2018
Yakubu Dogara, Speaker of Nigeria’s House of Representatives, has said the decision to change the ownership structure of the country’s stock exchange, The Nigerian Stock Exchange, was to open up the capital market as well as to make the market conform to global best practices and make it more attractive to investors. Special adviser on […]
NSE partners fintech group to boost trade on the Nigerian bourse
Businessam StaffJanuary 25, 2018
The Nigeria Stock Exchange (NSE) says it would partner FinTech Nigeria to work towards boosting the Nigerian capital market with the use of technology. Tinuade Awe, executive director, regulation of the NSE disclosed this when Segun Ajayi, chairman of Fintech Nigeria Associates and his team, visited the bourse to perform the closing gong ceremony. The […]
Goldlink Insurance postpones AGM
Businessam StaffJanuary 19, 2018
Goldlink Insurance Plc. has postponed its annual general meeting (AGM) scheduled to hold Thursday January 25, 2018 to a later date to be announced in due course. In a notification to the Nigerian Stock Exchange (NSE), shareholders and the general public, the company said the postponement would enable it present additional and important resolutions, which […]
NSE suspends trading in 7-Up shares
Businessam StaffJanuary 15, 2018
The Nigerian Stock Exchange (NSE), has announced the suspension of trading in shares of 7-Up Bottling Company Plc. According to a notice dated January 12 and signed by Godstime Iwenekhai, Head, Listings Regulation Department, trading in the shares of 7-Up Bottling Company Plc has been placed on full suspension. The suspension was necessitated by the need […]
Nigeria’s world-beating stocks riding on oil
Businessam StaffJanuary 15, 2018
The world-beating rally in Nigerian stocks may not be over yet. The main equity index in Africa’s biggest economy has surged 12 percent this year in dollar terms, the most among 96 major bourses tracked by Bloomberg, pushing it to the highest level since 2008. Dangote Cement Plc, controlled by Africa’s richest man, Aliko Dangote, […]
Affelka S.A revises scheme consideration for 7UP acquisition to N125 per share
Businessam StaffJanuary 10, 2018
Seven-Up Bottling Company Plc. (SBC) has notified the Nigerian Stock Exchange (NSE) and the investing public Wednesday of an upward review of the scheme consideration for the company’s minority shares to N125 per share from the earlier N112.70k per share. Affelka S.A – the holder of 73.0 percent of the company’s shares outstanding – has […]
Three of the best-performing stocks of all time
Businessam StaffJanuary 8, 2018
If you’re looking for the stock market’s next big gainers, a quick history lesson could be helpful. Though successful industries tend to change over time, the characteristics of the most successful companies are often the same. These companies are often profitable, regularly outperform the S&P 500, and have other unique strengths that have made them among […]
Nigeria leads sub-Saharan African stock markets in 2017, chalks up 43% YTD gain
Businessam StaffJanuary 5, 2018
The Nigerian Stock Exchange all-share index (NSEASI) was among the best performing indices globally in 2017 in local currency terms, and far outshone Nairobi (NSE 20) and Johannesburg (all-share), according to analysts at FBNQuest in their Friday Good Morning note. The analysts specifically noted that the NSE gained 42.3 percent over the calendar year, compared […]
37% of Nigerian stocks record no price movement in 2017
Businessam StaffDecember 31, 2017
An analysis of the Nigerian stock market in 2017 carried out by Proshare has indicated that 37 percent or 63 quoted firms out of the 172 listed companies on the Nigerian bourse, recorded no price movement as of December 27, 2017. The outcome of the analysis also indicated a worsening trajectory when compared to the […]