London shares climb as investors prepare for another Brexit packed week; China maintains its 6.9% economic growth rate
Businessam Staff
July 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 […]
Ashaka Cement delists from NSE for violating free float deficiency provision
Businessam StaffJuly 5, 2017
Ashaka Cement Plc has voluntarily delisted from the Nigerian Stock Exchange (NSE) for violation of the exchange free float deficiency provision of 20 per cent. The company announced its voluntary withdrawal in a statement posted on NSE website by the company’s directors. “The Board of Directors of Ashaka Cement Plc has opted for a voluntarily […]
Nigerian bourse: Analysts see profit taking at first few trading sessions this week
Businessam StaffJuly 3, 2017
Though the Nigerian equities market recovered from previous week’s loss last week, with investors resorting to bargain hunting in stocks that had depreciated in prior trading sessions, analysts see profit taking ruling the market in the first few days of this week. Last week’s performance at the bourse saw the benchmark index climbing 3.1% weak-on-week […]
Activities at Nigeria’s equities market rise 274% in May as domestic investors lead charge
Businessam StaffJune 29, 2017
Activities at the Nigeria’s equities market rebounded in the month of May as total transaction at the market rise 274.51 percent to close N205.61 billion from N54.90 billion recorded in April, according to the Nigerian Stock Exchange (NSE) polled trading figures. The NSE figures also indicate that domestic investors outperform foreign portfolio participation in Nigeria’s […]