Equities halt downtrend with N24bn uptick
Omobayo Azeez
February 20, 2020
By Omobayo Azeez After five consecutive negative sessions, the Nigerian equities market terminated trading activities on a positive note on Thursday as investors recouped an estimated profit of N24 billion. Although, market dealers revealed that the session was on the verge of closing negative but for late investors’ interest in the stock of BUA Cement […]
Stocks advance on China’s moves to support economy
Businessam StaffFebruary 19, 2020
Equities advanced on signs that China may be planning further measures to support its economy as it reels from a virus-induced slowdown and after U.S. data pointed to solid growth. Chipmakers led the S&P 500 Index’s gains after Bloomberg News reported that China’s latest moves to aid growth include possible bailouts for hard-hit industries. The dollar climbed […]
Stock market closes lower with N12bn loss
Omobayo AzeezFebruary 19, 2020
By Omobayo Azeez The Nigerian stock market remained in the red territory to post fresh N12 billion loss at the close of trading session on Tuesday to sustain downtrend for the fourth day in a row. The loss of the day was engendered by sell-offs in the stocks of blue chip companies and tier-1 banking […]
Unquoted stocks gain traction
Adesola AfolabiFebruary 14, 2020
…as CSCS, WAMCO lead activity at OTC equity market Adesola Afolabi Following two consecutive years of bearish performance, the Nigerian equity market is recovering fast, with the Nigerian All Share Index rallying 4.7 percent year-to-date. Pundits attribute the stellar performance of the market in January 2020 to a number of factors, including low valuation […]
Dow futures drops over 200 points downtrend as coronavirus cases jump
Businessam StaffFebruary 13, 2020
U.S. stock index futures are pointing to a lower open on Wall Street Thursday as investors continue to worry about the spread of the coronavirus and look ahead to a slew of earnings. Around 6 a.m. ET, Dow futures indicated the average would drop more than 200 points at the open, while futures on the […]
Nigerian stock market maintains lead in Africa despite sell pressure
Businessam StaffFebruary 13, 2020
The Nigerian stock market has remained the best performing bourse in the African continent, year-to-date, despite sell pressure that has eroded significant value since the beginning of February. The market had delivered 7.5 per cent appreciation in January 2020, after declining for two consecutive years. But profit taking, coupled with negative reactions that greeted the […]
S&P 500, Dow hit all-time highs as coronavirus spread slows
Businessam StaffFebruary 12, 2020
The S&P 500 and the Dow Jones Industrials hit record highs minutes after the open on Wednesday on signs that the coronavirus outbreak is slowing in China. The Dow Jones Industrial Average rose 130.41 points, or 0.45%, at the open to 29,406.75. The S&P 500 opened higher by 12.75 points, or 0.38%, at 3,370.50. The Nasdaq Composite […]
Stocks drop despite a strong monthly employment report
Businessam StaffFebruary 7, 2020
Stocks fell Friday as a massive four-day rally took a breather even after the release of jobs data that was much stronger than expected. The Dow was down 170 points, while the S&P 500 and Nasdaq each slid 0.25%. Caterpillar and Goldman Sachs led the 30-stock index lower, falling more than 1% each. Energy, materials and […]
Stocks edge higher following China’s reduction in tariffs announcement
Businessam StaffFebruary 6, 2020
Stocks edged higher Thursday, easing from record levels, as traders assessed a tariff cut from China along with a raft of earnings and solid economic data. The Dow was up 25 points after hitting a record high at the open. The S&P 500 rose 0.15%, and the Nasdaq added 0.35%. China announced overnight it will halve […]
Wall Street falls on global economic growth concerns, Amazon limits losses
Businessam StaffJanuary 31, 2020
The S&P 500 and the Dow Jones Industrial Average slid on Friday, hit by worries over the impact of the coronavirus epidemic on global growth, while strong earnings from Amazon.com checked losses on the Nasdaq. Shares of the online retailer (AMZN.O) surged 9.2% after the company trumped Wall Street’s estimates for holiday-quarter results, putting it […]