Wall Street edges lower after conflicting trade signals
Businessam StaffNovember 21, 2019
The three major US indexes fell on Thursday after conflicting headlines on US-China trade relations and a row between the world’s top two economies over the Hong Kong protest led to uncertainty over the timing of a deal to end the dispute. All three indexes had opened flat after a report that the United States […]
Equities sustain uptrend with N18bn gain
Businessam StaffNovember 21, 2019
By Omobayo Azeez Indicators of the Nigerian equities market maintained northward movement at the close of midweek trading session on Wednesday as investors recouped N18 billion gain. The Nigerian Stock Exchange All Share Index (NSEASI) inched up by 0.14 per cent as it gained 43.71 points to close at 6,779.15 basis points, thereby moderating year-to-date […]
US-China trade optimism, earnings power Wall Street to another record high
Businessam StaffNovember 15, 2019
Wall Street’s main indexes hit fresh record highs on Friday, as optimism related to US-China trade talks and solid earnings from semiconductor industry bellwether Applied Materials brightened sentiment. Shares in Applied Materials Inc jumped 9.29% and pushed the Philadelphia Semiconductor index .SOX to an all-time high after the chip gear maker forecast first-quarter results above […]
S&P 500, Dow Jones stable as Cisco losses offset Walmart gains
Businessam StaffNovember 14, 2019
The S&P 500 and the Dow Jones Industrial Average were unchanged on Thursday, but still hovered near record levels as a dour forecast from Cisco offset gains in Walmart after its strong outlook. Cisco Systems Inc fell 7.6% after the network gear maker said current-quarter revenue would drop 3% to 5% amid declining global spending […]
Bond markets seek enlightenment from Trump on trade policy
Businessam StaffNovember 12, 2019
World shares inched higher on Tuesday as investors awaited a speech by President Donald Trump on U.S. trade policy and on news he was likely to delay a decision on European auto tariffs. Bond markets also seemed increasingly confident a recession will be avoided as EU officials said Trump was expected to announce this week […]
Euro gains as dollar weakens on questions about more Fed rate cuts
Businessam StaffOctober 31, 2019
The euro gained on Thursday as the dollar weakened after the Federal Reserve on Wednesday cut interest rates for the third time this year and left open the question of whether it would cut them further. The dollar was falling against most currencies, particularly the Chinese offshore yuan, which rose to an 11-week high. The […]
Europe stocks close lower on new trade deal doubts; Peugeot down 12%
Businessam StaffOctober 31, 2019
European stocks reversed early gains to trade lower Thursday after a report that Chinese officials are doubting the possibility of a long-term trade agreement with the U.S. The pan-European Stoxx 600 was down 0.3% during afternoon trade, with the China-exposed basic resources and automotive sectors each tumbling more than 1%. Oil and gas stocks shed […]
Bears open week as equities down N29bn; but yields rise in money market T-Bills trading
Omobayo AzeezOctober 22, 2019
By Omobayo Azeez The equities and treasury bills segments of the Nigerian capital market were both ruled by the bears as another weekly trade commenced on Monday, leaving the former with N29 billion loss while the latter recorded 18bps increase in average yield. As the bears continued to dominate the domestic equities market, […]
Wall Street moves higher on Brexit deal, robust earnings
Businessam StaffOctober 17, 2019
U.S. stocks rose on Thursday, supported by Netflix and Morgan Stanley following upbeat reports, with investors also cheering Britain’s preliminary last-minute deal with the European Union. British Prime Minister Boris Johnson said “we have a great new Brexit deal,” lifting the mood across global equities, but he still faces a tough vote in parliament on […]
GTBank expands profitability as PAT climbs to N147bn in nine months
Omobayo AzeezOctober 16, 2019
By Omobayo Azeez Guaranty Trust Bank Plc (GTB) has pushed its profitability 3.4 per cent higher as at the end of September this year with its Profit after Tax (PAT) standing at N146.99 billion compared to the same period of 2018. This disclosure came as the bank released its unaudited result for the first […]