Investors wary of US response to virus as stock indexes slump at open
Businessam Staff
March 11, 2020
US stock indexes fell sharply at the open on Wednesday as investors were skeptical about President Donald Trump’s stimulus plan to combat the coronavirus epidemic. The Dow Jones Industrial Average fell 413.53 points, or 1.65%, at the open to 24,604.63 and the S&P 500 opened lower by 56.63 points, or 1.96%, at 2,825.60. The Nasdaq […]
Stock market investors lose N656bn in one day
Businessam StaffMarch 11, 2020
Investors suffered a loss of N656bn on Tuesday as the Nigerian equity market saw its biggest daily decline in more than eight years. The market reacted to the impact of the oil price war between Russia and Saudi Arabia and the coronavirus panic on the Nigeria economy. The All-Share Index of the Nigerian Stock Exchange […]
Stock Market plunges further as investor lose N329bn
Omobayo AzeezMarch 10, 2020
By Omobayo Azeez Investors in the Nigerian stock market recorded massive loss on their investment after activities on Monday ended with N329 billion loss to commence a new week. The decline was ascribed to fear arising from an oil price war staged by Saudi Arabia against Russia in the international oil market which has caused […]
Wall Street slumps, investors flee to safe havens on virus fears
Businessam StaffMarch 6, 2020
U.S. stocks opened sharply lower on Friday, as the global tally of coronavirus infections surpassed 100,000 and jittery investors took cover in perceived safe havens such as bonds and gold. The Dow Jones Industrial Average fell 664.07 points, or 2.54%, at the open to 25,457.21. The S&P 500 opened lower by 69.74 points, or 2.31%, […]
Equities rebound with N316bn gain on demutualisation progress
Omobayo AzeezMarch 5, 2020
By Omobayo Azeez Responding to progresses recorded on the demutualisation exercise of the Nigerian Stock Exchange (NSE), the equities market has bounced back in black with a recovered gain of N316 billion in two days. The positive results were posted on Tuesday and Wednesday with N232 billion and N84 billion respectively. These partly […]
European shares rise as investors hope for more stimulus
Businessam StaffMarch 4, 2020
European shares rose on Wednesday as investors hoped the European Central Bank and euro zone governments would green light stimulus measures after the U.S. Federal Reserve cut interest rates in an emergency move. The Fed’s 50 basis points cut on Tuesday caught Wall Street off guard as it magnified the economic impact of the coronavirus […]
Nigerian equities catch coronavirus fear, close week with N610bn loss
Omobayo AzeezMarch 2, 2020
Posts negative 2.23% decline YtD Expect further decline, experts warn By Omobayo Azeez The tide has turned against the Nigerian stock market as it joined the league of other global stock markets with year-to-date (YtD) performances in the red territory due to fear arising from the spread of Coronavirus. For the first time since trading […]
World shares slump for fifth day, bets grow on rate cuts to counter damage
Businessam StaffFebruary 26, 2020
World stocks tumbled for the fifth straight day on Wednesday, while safe-haven gold rose back towards seven-year highs after health authorities warned of a possible coronavirus pandemic and markets stepped up bets on interest rate cuts. U.S. Treasury yields nevertheless rose off record lows hit the previous day as equity futures turned around to signal […]
NSE records N4bn marginal loss as index dips 0.03%
Omobayo AzeezFebruary 26, 2020
By Omobayo Azeez The Nigerian equity market closed Tuesday’s session on a negative note as the composite index which measures movement of share prices in the market dipped marginally by 0.03 per cent, amounting to N4 billion loss for investors. Consequently, the index closed lower at 27,033.10 basis points and market capialisation followed […]
NSE market capitalisation opens week with N181bn loss
Businessam StaffFebruary 25, 2020
Activities on the nation’s bourse opened for the week on Monday still on a negative outlook with the market capitalisation shedding N181 billion. Specifically, the market capitalisation following free fall of stocks, lost N181 billion or 1.27 per cent to close at N14.087 trillion against N14.268 trillion on Friday. Similarly, the All-Share Index dipped 347.59 […]