Global shares mixed as attention turns to fed meeting
Businessam Staff
July 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 […]
Nigeria capital market regulator gives operators deadline on compliance to set rules
Businessam StaffJuly 20, 2017
The Securities and Exchange Commission (SEC) Nigeria has mandated all capital market operators (CMOs), experts and professionals operating in the Nigerian capital market to comply with provisions of the ISA 2007 and the SEC Rules and Regulations, on required number of sponsored individuals and a compliance officer for each function performed by the operator in […]
London shares climb as investors prepare for another Brexit packed week; China maintains its 6.9% economic growth rate
Businessam StaffJuly 17, 2017
The FTSE 100 got off to a strong to yet another week set to be dominated by Brexit negotiations as Brexit secretary David Davis started the second round of talks with the EU’s Michel Barnier. Brexit aside Carolyn McCall, the EasyJet boss, will join ITV as chief executive. McCall, who begins her new role in […]
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 […]
Hong Kong traders can’t help asking for more of HSBC’s soaring shares
Businessam StaffJuly 12, 2017
Traders can’t seem to get enough of HSBC Holdings Plc. They’ve sent the shares up more than 20 percent in 2017, and they’re using options to bet on further gains. Bullish contracts are now the priciest in more than two years relative to bearish ones, while the ratio of outstanding calls to puts is near […]
Earnings fundamentals to drive equities market performance in near term, say analysts
Businessam StaffJuly 10, 2017
As bearish sentiments gradually return to the equities market, typified by trading last week on the back of waning confidence on the continued forex liquidity at the Investors’ and Exporters’ window, analysts say market performance would be more driven by earnings fundamentals in the near term. Afrinvest analysts say investors would be looking at H1:2017 […]