Economy
Cohn Resignation Likely to Weigh on US Shares
By Investors Hub
The major U.S. index futures are pointing to a lower opening on Wednesday as traders digest news of the resignation of White House chief economic advisor Gary Cohn.
The resignation by Cohn, a free trade advocate, comes after President Donald Trump announced plans to impose tariffs on steel and aluminum imports.
In a statement, Trump said Cohn did a ?superb job in driving our agenda, helping to deliver historic tax cuts and reforms and unleashing the American economy once again.?
Trump said in a post on Twitter that he would make a decision on a new chief economic advisor ?soon,? adding, ?Many people wanting the job – will choose wisely!?
After failing to sustain an initial upward move, stocks showed a lack of direction over the course of the trading session on Tuesday. The major averages spent the day bouncing back and forth across the unchanged line.
The major averages eventually ended the day in positive territory. The Dow inched up 9.36 points or less than a tenth of a percent to 24,884.12, the Nasdaq advanced 41.30 points or 0.6 percent to 7,372.01 and the S&P 500 rose 7.18 points or 0.3 percent to 2,728.12.
The choppy trading on the day was partly attributed to concerns about Cohn leaving the White House.
The strength seen early in the day came amid easing geopolitical concerns following reports that North Korea is willing to talk about denuclearization.
South Korea’s national security director Chung Eui-yong told reporters North Korea would be willing to denuclearize if its security was guaranteed.
“North Korea made clear its willingness to denuclearize the Korean peninsula and the fact there is no reason for it to have a nuclear program if military threats against the North are resolved and its regime is secure,” Chung said.
On the U.S. economic front, the Commerce Department released a report showing a slightly bigger than expected decrease in factory orders in the month of January.
The Commerce Department said factory orders tumbled by 1.4 percent in January after jumping by an upwardly revised 1.8 percent in December.
Economists had expected factory orders to drop by 1.3 percent compared to the 1.7 percent spike originally reported for the previous month.
Gold stocks showed a significant move to the upside on the day, driving the NYSE Arca Gold Bugs Index up by 2 percent. The strength among gold stocks came amid a sharp increase by the price of the precious metal.
Considerable strength was also visible among computer hardware and semiconductor stocks, with the NYSE Arca Computer Hardware Index and the Philadelphia Semiconductor Index climbing by 1.6 percent and 1.5 percent, respectively.
Tobacco, chemical, and housing stocks also saw notable strength, while telecom and utilities stocks moved to the downside on the day.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
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.
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