Equities rebound with N316bn gain on demutualisation progress
Omobayo Azeez
March 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 […]
Equities halt downtrend with N24bn uptick
Omobayo AzeezFebruary 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 […]