Investors’ hunger for Nigeria stocks sees benchmark index rise 34-month high

Aderemi OjekunleAugust 8, 2017

Nigerian stocks Tuesday kept up the tempo of the previous trading session as all-share index inched up 1.3 percent to close at a 34-month high of 37,999.56 basis points. Consequently year-to-date gain settled at 41.40 percent. Similarly, market capitalization gained N163.4 billion to close at N13.1 trillion, against the N12.9 trillion achieved at the previous […]

Dollar slips after dovish Fed comments as gold rises

Businessam StaffAugust 8, 2017

The dollar resumed its losing ways during a lackluster trading session Tuesday as dovish comments from members of the U.S. central bank weighed on the market. Europe’s common currency strengthened and its stocks retreated, while gold advanced. The euro joined most G-10 peers in advancing against the greenback, which slipped alongside both Treasuries and U.S. […]

Fund that helped make Turkey stocks among world best is thinning

Businessam StaffAugust 2, 2017

A state fund that helped fuel one of the world’s best stock rallies this year has almost been depleted, reports Bloomberg. The Istanbul bourse has benefited from rising profit expectations after the government delved into the Credit Guarantee Fund, which backstops bank loans to non-financial companies, driving a revival in borrowing. Earnings forecasts for members […]

Miners drive South African stocks to record high as Kumba gains

Businessam StaffJuly 31, 2017

South Africa’s benchmark stock index advanced to a record Monday, joining a global rally as commodity prices surged on optimism economic growth is gathering momentum. The FTSE/JSE Africa All Share Index rose as much as 0.9 percent to 55,366.74. It pared gains to be 0.7 percent higher by 10:45 a.m. in Johannesburg, still set for […]

Wall Street set to open higher on earnings optimism

Businessam StaffJuly 31, 2017

U.S. stock indexes looked set to open higher on Monday as investors remained optimistic about corporate earnings in the second quarter and ahead of a clutch of economic data. Investors have been counting on earnings to support the relatively high valuations for equities, with the S&P 500 trading at about 18 times earnings estimates for […]

Snap’s shares slide 3% in premarket trading as lockup ends

Businessam StaffJuly 31, 2017

Shares of Snap Inc, owner of the Snapchat messaging app, fell 3 percent in premarket trading on Monday as a share lockup ended, allowing for sales by early investors and pushing it further below its March initial public offering price. Starting on Monday and extending into August, early investors, employees and other insiders will be […]

Adidas shares are surging

Businessam StaffJuly 28, 2017

Adidas is once again proving its mettle against Nike after once again lifting its profit forecast. Shares in the German sportswear company were up 8.62% in Frankfurt, changing hands at €192.30, extending a three month gain of 3.37%. Adidas Friday in an ad hoc statement said that it now expects sales to grow at a […]

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 […]