Markets

The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Stock market gains N138 billion despite profit taking

The stock market posted positive performance last week despite profit taking by some investors, as it sustained the growth recorded in the previous week.
Director General of the SEC, Mr. Lamido Yuguda, stated this on Tuesday at a Webinar organised by the Nigerian Stock Exchange (NSE), in collaboration with the Nigeria Governors’ Forum (NGF) and the Nigerian Investment Promotion Council (NIPC) with the theme: Privatisation in Nigeria and the Outlook for Subnational Economic Development.

SEC decries low participation of retail investors, moves to attract more

The Securities and Exchange Commission (SEC) says it has intensified efforts to attract more retail investors into the nation’s capital market.
The U.S. government is just one step away from enacting a law that could ‘kick’ several Chinese firms off Wall Street, which can further escalate tensions between Washington and Beijing.

U.S. closer to removing Chinese firms from Wall Street

The U.S. government is just one step away from enacting a law that could ‘kick’ several Chinese firms off Wall Street, which can further escalate tensions between Washington and Beijing.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigerian stock market extends rally to six trading sessions

The banking sector inspired the All-Share Index to gain 105.48 absolute points, representing a 0.30% growth to close at 35,147.62 points, Market Capitalization appreciated by N55.17 billion, representing a growth of 0.30% to close at N18.364 trillion.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigeria stock market resumes December with N55 billion gain

The Nigeria stock market on Tuesday sustained bullish sentiment to open the month of December with N55 billion growth due to buying interests in Tier 1 banks.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE migrates four companies to growth board

The Nigerian Stock Exchange (NSE) says it has migrated four companies from alternative securities market (ASeM) to growth board.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE closes last trading day in November with 0.45% growth

The nation’s bourse closed for the last trading day in November with a growth of 0.45 per cent following price appreciation posted by Airtel Africa and 16 other stocks.
The company has more than 18 million customers, about 1 million delivery workers (whom it refers to as “Dashers”), and works with more than 390,000 merchants. It will list its shares under the symbol DASH on the New York Stock Exchange.

Airbnb, DoorDash are confidently aiming for even higher IPO valuations

Two of the year’s most anticipated public listings — DoorDash and Airbnb — will seek higher than expected valuations for their IPOs, new filings show. Each company has seen its fortunes affected by the coronavirus pandemic, with DoorDash surging and Airbnb seeing its business drop off sharply. But both have priced their IPOs in roughly the same range.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE lifts suspension on FTN Cocoa Processors

Authorities at the Nigerian Stock Exchange (NSE) at the weekend lifted suspension clamped on FTN Cocoa Processors Plc, nearly three months after the Exchange disallowed trading in the shares of the agricultural company for breach of corporate governance rules.
Bitcoin can baffle even bigger-fish investors [Dado Ruvic-Reuters]

Low money market yield, inflation may push more investors to bitcoins

The roller coaster which the Nigerian equities market has enjoyed in the last two months may be short-lived as there are indications that investors are planning to take advantage of the low yield being recorded in the money market by diverting into Bitcoin trading.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE sustains positive momentum with 0.10% growth

The Nigerian Stock Exchange (NSE) on Thursday sustained positive momentum with a growth of 0.10 per cent.
Wall Street's main indexes opened lower on Friday as rising infections overshadow positive vaccine news [Shannon Stapleton-Reuters]

Stocks push higher on vaccine hopes but gains lose steam

Asian shares extended this month’s stellar gains as market euphoria over COVID-19 vaccines and expectations that US President-elect Joe Biden’s administration would deliver more economic stimulus overrode weak US economic data.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE opens week with 0.04 percent loss

The domestic equities market on Monday extended its losing streak with the All-Share Index dropping by 0.04 per cent, as the country officially entered recession.
Wall Street's main indexes opened lower on Friday as rising infections overshadow positive vaccine news [Shannon Stapleton-Reuters]

Dow opens up 200 points on another jab of promising vaccine news

Wall Street’s main stock indexes pushed higher on Monday kicking off another week on a shot of positive vaccines news – this time from AstraZeneca and Oxford University.

Capital market operators oppose Nigerian government’s proposed unclaimed dividend fund

The proposed plan by the Federal Government to manage unclaimed dividends, projected to hit N200bn by the end of this year, has drawn the ire of capital market operators on the adverse effects on investor confidence and future growth of the market.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Stock market declines 2.5% on profit taking

The stock market declined by 2.5 per cent last week following profit taking after weeks of sustained growth. The market, which spiked by 12.9 per cent the previous week, closed lower last week as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) shedding 2.5 per cent to be at 34,136.82. The market capitalisation closed lower at N17.838 trillion.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigeria stock market loses N265 billion on banks’ unimpressive Q3 results

The Nigerian Stock Exchange market indicators on Friday dropped further by 1.46 per cent due to unimpressive third quarter results released by some banks.
Wall Street's main indexes opened lower on Friday as rising infections overshadow positive vaccine news [Shannon Stapleton-Reuters]

US stocks open lower as virus surge overrides vaccine hope

Wall Street’s main stock indexes opened lower on Friday, putting them on track to cap off another week of highs and lows as vaccine optimism is overshadowed by surging COVID-19 infections and the return of business sapping restrictions and shutdowns.

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