Profit taking may rule equities market in early trading sessions, say analysts
Businessam Staff
December 11, 2017
Though the Nigerian equities market was largely bullish last week with benchmark index appreciating 3.5 percent week to date (WTD) to close at 39,257.53 points, analysts are of the opinion that market sentiment would weaken to 3.7 points from 4.3 points recorded last week despite the improvement in market breadth. “This week, we expect profit-taking […]
Analysts recommend sell for 7Up shares on proposed minority shares buyout
Businessam StaffDecember 8, 2017
Seven-Up Bottling Company Plc. recently informed the investing public of the plan by Affelka S.A – the holder of 73.0 percent of the company’s shares outstanding – to completely buyout minority shares in 7UP for a consideration of N112.70 per share relative to the market price of N97.12 as of December 7, 2017. The Board […]
Consumer spending drives US share gains
Businessam StaffNovember 27, 2017
Clothing chains and other retailers drove US stock market gains in early trade on Monday, amid signs of strong holiday sales. The Dow Jones Industrial Average rose 31 points to 23,590.97, while the S&P 500 added 3.7 points to 2,606. The Nasdaq index added 3.1 points or 0.05% to 6,892.3. Among the retailers, Gap, L […]
European stocks drift as dollar extends decline
Businessam StaffNovember 23, 2017
European stocks erased early losses to trade little changed as positive economic data in the region offset negative sentiment following a slump in Chinese equities. The dollar extended a retreat sparked by Wednesday’s more dovish than expected Federal Reserve minutes. With U.S. markets closed and most American investors out for the Thanksgiving holiday, the Stoxx […]
Mugabe’s woes wipe out $5bn from Zimbabwe’s skewed stocks
Businessam StaffNovember 21, 2017
Investors dumped Zimbabwean stocks every day after the military seized power on optimism that 93-year-old President Robert Mugabe will be forced to step down. The stocks, which are denominated in U.S. dollars and were used to hedge against rising inflation, fell 10 percent on Monday to an eight-week low of 387.38, bringing the Zimbabwe Stock […]
Analysts see trade in Nigerian equities driven by bargain hunting this week as selldown looms on MSCI deleted stocks
Businessam StaffNovember 20, 2017
Market analysts at Afrinvest, Nigeria say they expect early trades this week to be dictated by bargain hunting in stocks, which dragged the market last week. “Following last week’s loss in the market, we expect performance in early trades this week to be driven by bargain hunting in stocks which dragged the market in prior […]
Unilever Nigeria lists 1.96bn additional shares
Businessam StaffNovember 17, 2017
The Nigerian Stock Exchange Thursday announced to dealing members of the listing of additional 1,961,709,167 ordinary shares of Unilever Nigeria Plc. The additional shares arose from Unilever’s Rights Issue of 1,961,709,167 ordinary shares of 50 kobo at N30.00 per share in the Ratio of 14:27 ordinary shares held as at 28 June 2017 were listed […]
American top four tech companies drive half of US third-quarter earnings
Businessam StaffNovember 13, 2017
America’s biggest technology stocks have been the crucial ingredients in powering Wall Street’s gains this year as Apple, Alphabet, Microsoft and Facebook drove half of the S&P 500 earnings beat. The tech sector has notched a dazzling performance this year, roaring higher by 37.1 percent year to date, which is more than double the number-two […]
Asian stocks slip as U.S. tax doubts snap global winning streak
Businessam StaffNovember 10, 2017
Asian shares slipped Friday on uncertainty about U.S. tax reforms after Senate Republicans unveiled a plan that differed from the House of Representatives’ version in several key areas, including a delay in the timing of a corporate tax cut. European shares are expected to be little changed, with spread-betters looking at an almost flat opening […]
Trump wants Saudi Aramco to list on New York stock exchange
Businessam StaffNovember 5, 2017
President Donald Trump personally lobbied Saudi King Salman to list the Saudi Arabian Oil Co. on the New York Stock Exchange during a phone call between the world leaders on Saturday, according to a readout provided by the White House. The call, which came as the president flew from Honolulu to Tokyo, followed the president […]