Economy
Asian Equities Surge as US, China Continue Trade Talks in Washington
By Investors Hub
Most Asian stocks rose on Monday as the U.S. and China prepared to continue trade talks in Washington. Investors held hopes for a thaw in U.S.-China trade tensions after President Donald Trump said on Sunday that he would help Chinese technology company ZTE Corp. “get back into business, fast,” as it was hurt by a U.S. ban.
Chinese shares rose as trade tensions eased and investors awaited MSCI’s final A-share inclusion list. The benchmark Shanghai Composite index rose 10.87 points or 0.3 percent to 3,174.14.
Hong Kong’s Hang Seng Index jumped 419.02 points or 1.4 percent to 31,541.08 after data showed Hong Kong’s economy grew at the fastest pace in almost seven years.
Japanese shares hit a 3-month high as the yen slipped against its major counterparts on improved risk appetite and cosmetics maker Shiseido posted better than expected earnings.
The Nikkei 225 Index climbed 107.38 points or 0.5 percent to 22,865.86, the highest closing level since February 2nd. The broader Topix Index closed 0.6 percent higher at 1,805.92.
Shiseido shares soared 15.6 percent after the company more than doubled its fiscal first-quarter net income. On the flip side, Olympus Corp plummeted 3 percent after its operating profit forecast for the year ending March 2019 came in below analyst estimates.
Australian shares rose, led by miners and financials. The benchmark S&P/ASX 200 Index gained 19.10 points or 0.3 percent to finish at 6,135.30, while the broader All Ordinaries Index ended 0.3 percent higher at 6,235.
BHP Billiton rallied 1.9 percent and Rio Tinto added 0.7 percent as iron ore prices continued to climb higher. While ANZ shed 1.9 percent on going ex-dividend, Wespac Banking Corp climbed 1.5 percent, Commonwealth rose 0.4 percent and NAB inched up 0.3 percent. Wealth manager AMP jumped 3.2 percent after hitting a near 7-year low on Friday.
Downer EDI advanced 2.2 percent on winning an EPC order worth about A$150 million from First Solar for a 87 MW Solar Farm in NSW. Hospital operator Healthscope gained 4.5 percent after receiving a takeover bid from Brookfield Asset Management.
Telecom giant Telstra Corp slumped 5 percent after the company warned its 2018 earnings would be at the low end of its guidance range.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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