US-China trade optimism, earnings power Wall Street to another record high
Businessam Staff
November 15, 2019
Wall Street’s main indexes hit fresh record highs on Friday, as optimism related to US-China trade talks and solid earnings from semiconductor industry bellwether Applied Materials brightened sentiment. Shares in Applied Materials Inc jumped 9.29% and pushed the Philadelphia Semiconductor index .SOX to an all-time high after the chip gear maker forecast first-quarter results above […]
S&P 500, Dow Jones stable as Cisco losses offset Walmart gains
Businessam StaffNovember 14, 2019
The S&P 500 and the Dow Jones Industrial Average were unchanged on Thursday, but still hovered near record levels as a dour forecast from Cisco offset gains in Walmart after its strong outlook. Cisco Systems Inc fell 7.6% after the network gear maker said current-quarter revenue would drop 3% to 5% amid declining global spending […]
Bond markets seek enlightenment from Trump on trade policy
Businessam StaffNovember 12, 2019
World shares inched higher on Tuesday as investors awaited a speech by President Donald Trump on U.S. trade policy and on news he was likely to delay a decision on European auto tariffs. Bond markets also seemed increasingly confident a recession will be avoided as EU officials said Trump was expected to announce this week […]
Euro gains as dollar weakens on questions about more Fed rate cuts
Businessam StaffOctober 31, 2019
The euro gained on Thursday as the dollar weakened after the Federal Reserve on Wednesday cut interest rates for the third time this year and left open the question of whether it would cut them further. The dollar was falling against most currencies, particularly the Chinese offshore yuan, which rose to an 11-week high. The […]
Europe stocks close lower on new trade deal doubts; Peugeot down 12%
Businessam StaffOctober 31, 2019
European stocks reversed early gains to trade lower Thursday after a report that Chinese officials are doubting the possibility of a long-term trade agreement with the U.S. The pan-European Stoxx 600 was down 0.3% during afternoon trade, with the China-exposed basic resources and automotive sectors each tumbling more than 1%. Oil and gas stocks shed […]
Bears open week as equities down N29bn; but yields rise in money market T-Bills trading
Omobayo AzeezOctober 22, 2019
By Omobayo Azeez The equities and treasury bills segments of the Nigerian capital market were both ruled by the bears as another weekly trade commenced on Monday, leaving the former with N29 billion loss while the latter recorded 18bps increase in average yield. As the bears continued to dominate the domestic equities market, […]
Wall Street moves higher on Brexit deal, robust earnings
Businessam StaffOctober 17, 2019
U.S. stocks rose on Thursday, supported by Netflix and Morgan Stanley following upbeat reports, with investors also cheering Britain’s preliminary last-minute deal with the European Union. British Prime Minister Boris Johnson said “we have a great new Brexit deal,” lifting the mood across global equities, but he still faces a tough vote in parliament on […]
GTBank expands profitability as PAT climbs to N147bn in nine months
Omobayo AzeezOctober 16, 2019
By Omobayo Azeez Guaranty Trust Bank Plc (GTB) has pushed its profitability 3.4 per cent higher as at the end of September this year with its Profit after Tax (PAT) standing at N146.99 billion compared to the same period of 2018. This disclosure came as the bank released its unaudited result for the first […]
Equities market halts previous growth with 0.16 per cent decline
Businessam StaffOctober 16, 2019
The benchmark index of the Nigerian Stock Exchange (NSE) halted gains posted in the preceding trading session to drop by 0.16 per cent. Specifically, the All-Share Index on Tuesday dipped 43.79 points, representing 0.16 per cent to close at 26,513.65 compared with 26,557.44 achieved on Monday. Similarly, the market capitalisation shed N21 billion or 0.16 […]
Slight relief as equities gain N12bn to commence week
Omobayo AzeezOctober 15, 2019
By Omobayo Azeez The Nigerian equities market marginally returned to bullish path on Monday as it commenced another trading week by gaining a sum of N12 billion to close the session. This led to 0.09 per cent appreciation of the benchmark market index to close at 26,557.77 basis points, a development described […]