Stock market halts gaining streak, sheds N181bn
Businessam Staff
January 15, 2020
The gaining streak of the stock market was halted on Tuesday as profit taking dragged the market 1.18 per cent lower. Investors recorded a loss of N181bn as the market capitalisation of equities declined from N15.287tn on Monday to N15.106tn on Tuesday. Analysts at Afrinvest Securities Limited said the decline was due to major profit […]
Stocks edge higher, bonds rise following the latest jobs data
Businessam StaffJanuary 10, 2020
U.S. stocks edged higher, while Treasuries rose after the latest jobs report confirmed that the world’s largest economy remains on solid footing. The dollar fell versus major peers. The S&P 500 inched toward a fresh record after hiring data slightly missed estimates for December, while the unemployment rate remained unchanged at 3.5%. The benchmark is […]
Dow futures rise as US-Iran tensions decrease
Businessam StaffJanuary 9, 2020
The ease in tension between US and Iran has resulted in the US stock index futures experiencing a good standing on Thursday morning. Around 7:20 a.m. ET, Dow Jones Industrial Average futures were up by 114 points and indicated a gain of 178 points at the open. S&P 500 and Nasdaq 100 futures also rose. […]
Ponzi scheme promoters risk wrath of the law, SEC threatens
Businessam StaffJanuary 6, 2020
By Omobayo Azeez
Wall Street stocks fall after US kills Iran general
Businessam StaffJanuary 3, 2020
Wall Street stocks retreated from records early on Friday after a US strike killed a top Iranian commander, prompting threats of reprisal by Tehran. About 20 minutes into trading, the Dow Jones Industrial Average stood at 28,661.44, down 0.7 per cent. The broad-based S&P 500 also shed 0.7 percent to 3,236.58, while the tech-rich Nasdaq […]
2020: NSE reviews stock market indices
Omobayo AzeezJanuary 2, 2020
By Omobayo Azeez
Equities extend uptrend to open year with 0.1% uptick
Businessam StaffJanuary 2, 2020
By Omobayo Azeez The Nigerian equity market extended the gaining streak with which it ended 2019 to open activities in the new year, 2020, as benchmark index rose by 0.1 per cent. Despite the average decline of 0.59 per cent for the month of December 2019 and full year return of -14.60 per cent for […]
Wall St. hits another opening record as investors cheer China data
Businessam StaffDecember 27, 2019
Wall Street opened at another record high, as optimism over U.S.-China trade relations and an improving global economy brightened investor sentiment going into the new year. The Dow Jones Industrial Average .DJI rose 53.95 points, or 0.19%, at the open to 28,675.34. The S&P 500 .SPX opened higher by 7.32 points, or 0.23%, at 3,247.23, while the Nasdaq Composite .IXIC gained […]
Equities lose N11b on Yuletide cash squeeze
Businessam StaffDecember 25, 2019
Nigerian equities lost N11 billion in the last trading session before the Christmas holidays as investors opened up market orders in last-minute efforts to close their deals ahead of the two-day holiday. Sell pressure on mid and large-cap stocks weighed on the overall market position, shaving off N11 billion from the overall market value of […]
Sell-offs on blue-chip companies cost equities N197bn
Businessam StaffDecember 24, 2019
By Omobayo Azeez