Economy
Asian Stocks Close Mixed on US-China Trade Negotiations
By Investors Hub
Asian stocks ended mixed on Wednesday as strong earnings from U.S. industrial giant 3M Co. as well as Apple CEO Tim Cook?s comments about U.S.-China trade tensions helped investors put growth and trade worries on the back burner.
The dollar index dipped slightly ahead of the Federal Reserve?s policy statement, while the British pound nursed losses after British lawmakers rejected most amendments that sought to avoid Britain leaving the European Union without a deal.
Oil prices edged higher on concerns about supply disruptions after the U.S. imposed sanctions on state-owned Venezuelan oil company PDVSA.
China’s Shanghai Composite Index fell 18.68 points or 0.7 percent to 2,575.58 as investors awaited the conclusion of the Fed policy meeting and U.S.-China talks. Meanwhile, Hong Kong’s Hang Seng Index rose 0.4 percent to 27,642.85.
Chinese Vice Premier Liu He is in Washington this week to meet with U.S. officials, including President Donald Trump.
Japanese shares fell on earnings concerns and after drugmaker Dainippon Sumitomo Pharma said a clinical trial for a new drug failed to complete. The Nikkei 225 Index dropped 108.10 points or 0.5 percent to 20,556.54, while the broader Topix closed 0.5 percent lower at 1,550.76.
Dainippon Sumitomo Pharma shares slumped 18.6 percent. Apple supplier Alps Alpine fell 3 percent despite Apple reporting sharp growth in its services business.
Akebono Brake Industry Co. plunged 18.2 percent despite the company announcing a turnaround plan.
On the data front, retail sales in Japan were up a seasonally adjusted 0.9 percent in December, a government report showed. That exceeded expectations for an increase of 0.4 percent following the downwardly revised 1.1 percent decline in November.
Australian stocks eked out modest gains as miners extended gains from the previous session on the back of strong iron ore and copper prices following a mining disaster in Brazil.
The benchmark S&P/ASX 200 Index rose 12.50 points or 0.2 percent to 5,886.70, while the broader All Ordinaries Index ended up 11.70 points or 0.2 percent at 5,951.20.
BHP Group rallied 2.6 percent and Rio Tinto soared 4.5 percent to hit multi-month highs, while smaller rival Fortescue Metals Group jumped 7.8 percent.
Energy stocks Woodside Petroleum, Oil Search and Santos climbed over 1 percent after oil prices gained more than 2 percent on Tuesday, supported by U.S. imposed sanctions on a Venezuelan state owned oil company.
Online furniture retailer Temple and Webster Group soared 11.2 percent after it reported a 40 percent surge in revenue for the first half of the year.
On the economic front, a government report showed that consumer prices in Australia rose 0.4 percent sequentially in the fourth quarter of 2018, unchanged from the third quarter and in line with expectations.
On a yearly basis, inflation advanced 1.8 percent, exceeding expectations for 1.7 percent but down from 1.9 percent in the three months prior.
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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