Tech stocks pull down European markets after Amazon miss

Businessam StaffJuly 28, 2017

European markets were pulled down by technology stocks Friday after Amazon worse-than-expected earnings Thursday sent waves through the sector. The Euro Stoxx 600 Technology index was 1.63% down at 11:17 BST, compared with a year-to-date increase of 13.61% and outpacing the fall of 1.15% in Stoxx 600 index. Chip equipment maker ASML Holdings was down […]

After 3-year break, Greece returns to bond market with 5-year bonds

Businessam StaffJuly 24, 2017

Greece will return to the bond market after a three-year hiatus, banking on investor interest in its recovery story. The country, which was the epicentre of the European sovereign crisis that began in 2009, is looking to sell five-year bonds, according to an Athens Stock Exchange filing. It is also inviting holders of 4.75 percent […]

Global shares mixed as attention turns to fed meeting

Businessam StaffJuly 24, 2017

Global shares meandered Monday as market attention turned to the U.S. Federal Reserve meeting later in the week. Japanese shares languished as the yen strengthened against the dollar. KEEPING SCORE: France’s CAC 40 edged down nearly 0.2 percent in early trading to 5,110.17. Germany’s DAX was also lower at 12,208.73, down 0.3 percent. Britain’s FTSE […]

Positive corporate results strengthen investor sentiment in Nigerian equities

Businessam StaffJuly 20, 2017

The overall attitude of investors toward Nigerian equities strengthened Thursday as market breadth (advancers/decliner’s ratio) rose to 1.5x from Thursday’s close of 1.0x after 29 stocks advanced against 19 decliners, thus pushing the benchmark index up 0.5%. The general tone of the market revealed a positive belief about future outcomes and risks (though not justified […]

China bulls keep stocks near record high

Businessam StaffJuly 17, 2017

Strong data from China kept world shares near a record high on Monday, sent copper to a 4-1/2 month peak and left emerging market stocks buyers cheering a near five percent gain in the last five days. Figures from Beijing showed China’s economy grew at a faster-than-forecast 6.9 percent year-on-year in the second quarter thanks […]

NSE goes live with Nasdaq SMARTS Market Surveillance Technology

Businessam StaffJuly 17, 2017

Nigerian Stock Exchange (NSE) together with Nasdaq officially announced the launching of a new market surveillance platform powered by SMARTS, Nasdaq’s flagship surveillance solution. According to report by koreabizwire.com, the technology amongst other things, enables NSE to proactively monitor market manipulation (including spoofing and layering), detect and deter manipulative tendencies, gather intelligence, carry out traders’ monitoring […]

Earnings watch for week ended July 14, 2017

Businessam StaffJuly 14, 2017

In the week ended July 14, 2017, seven quoted firms declared their results. Five out of the seven recorded growth in revenue while the others recorded decline in revenue. United Capital Plc (UCAP) tops with the highest profit after tax (PAT) figure while PREMPAINTS declared the least with a loss.

Nigeria equities sustain rally on buy interest in bellwethers as index gains 0.8%

Businessam StaffJuly 13, 2017

The Nigerian bourse extended gains to the sixth trading session Thursday as the benchmark index advanced 0.8% to close at 33,246.91 points, buoying year-to-date gain to 23.7 percent. The trading performance was bolstered by sustained buying interest in bellwethers across sectors including DANGCEM (+0.8%), GUARANTY (+1.9%), WAPCO (+4.0%) and MOBIL (+9.5%), which more than offset […]