European Shares Rises as ECB Retains Key Interest Rates

By Adedapo Adesanya Though the supply of foreign exchange (FX) in Nigeria has remained low, the Naira closed stronger against the United States Dollar in the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) segments on Wednesday, September 20, and maintained stability in the parallel market. According to data obtained from FMDQ Securities Exchange, the local currency appreciated against the Dollar in the midweek session by 0.76 per cent or N5.89 to sell for N770.71/$1 versus the previous rate of N776.60/$1 amid a decline in the value of forex transactions by 9.4 per cent or $6.65 million to $64.36 million

By Dipo Olowookere Renewed buying interest in consumer goods stocks saved the Nigerian Exchange (NGX) Limited from collapsing on Tuesday, as it finished higher by 0.71 per cent at the close of trading activities. The trading session saw Ellah Lakes ending as the best-performing stock after its value rose by 10.00 per cent to N3.63, leading the gainers’ chart of 35 members. Berger Paints rose by 9.95 per cent to close at N11.60, eTranzact grew by 9.93 per cent to N8.08, Oando improved by 9.92 per cent to N13.30, and Chams also jumped by 9.92 per cent to N1.33. Business

By Dipo Olowookere The Nigerian Exchange (NGX) Limited witnessed a pullback of 0.03 per cent on Wednesday after investors took a second look at their exposure to local equities, though as some were dumping, a few were mopping up. According to data obtained by Business Post, traders bought and sold 566.6 million shares worth N5.4 billion during the trading session in 8,201 deals compared with the 676.7 million shares valued at N5.9 billion traded in 7,659 deals on Tuesday, implying a rise in the number of deals by 7.08 per cent and a decline in the trading volume and value

By Modupe Gbadeyanka Comptroller-General of the Nigeria Customs Service, Mr Hameed Ali, has disclosed that his agency hopes to make at least N1 trillion to the coffers of Federal Government this year. To achieve this target, the Customs boss has charged all Customs Area Controllers (CAC) to ensure strict compliance with extant laws. According to Mr Ali, Area Controllers must either “shape in or ship out” as there was no place for complacency in a service that plays the crucial roles of revenue collection and border security. The Comptroller-General, who had a strategy meeting with the CACs, said they must

By Adedapo Adesanya The International Monetary Fund (IMF) has warned that Sub-Saharan Africa, which includes Nigeria, could stand to lose the most if the world were split into two isolated trading blocs centred around China or the United States and the European Union (EU). Sub-Saharan Africa refers to countries of the African continent that are not considered part of North Africa. According to estimates released on Monday, sub-Saharan African economies could experience a permanent decline of up to 4 per cent of the real gross domestic product after 10 years, which is larger than what many countries experienced during the

By Modupe Gbadeyanka Performance across sectors of the Nigerian Stock Exchange (NSE) was mixed in the last trading week, which ended on Friday, July 7, 2017. The All-Share Index (ASI) and the market capitalization depreciated by 1.99 percent and 2.31 percent to close the week at 32,459.17 and N11.187 trillion respectively. Similarly, all other Indices finished lower during the week with the exception of the NSE Insurance and the NSE Industrial Goods Indices that appreciated by 1.10 percent and 0.22 percent while the NSE ASeM index closed flat. During the week, a total turnover of 1.061 billion shares worth N12.295

By Modupe Gbadeyanka Leading global investment migration firm, Henley & Partners, has welcomed the announcement by the Government of Montenegro that it will launch its long-awaited citizenship-by-investment program in October. It follows the decision a few weeks ago by another European nation, Moldova, to award Henley & Partners the mandate to design, implement, and promote its much-anticipated Moldova Citizenship-by-Investment (MCBI) program. Henley & Partners has accumulated over 20 years of experience working with governments in North America, the Caribbean, Europe, and Asia on the design, set-up, operation, and promotion of some of the world’s most successful residence and citizenship programs,

By Investors Hub European stocks have also moved lower Friday, with Swiss bank UBS Group AG and French car maker Renault SA among the losers following their earnings release. While the French CAC 40 Index has slumped by 1.2 percent, the U.K.’s FTSE 100 Index is down by 0.7 percent and the German DAX Index is down by 0.5 percent. In stock-specific action, the banking sector was in focus with major banks coming out with their earnings reports. UBS shares fell on concerns over client activity and margins in its wealth management division, despite the company reporting 14 percent higher

By Adedapo Adesanya   Social media marketing is expected to weather the impending downturn just as economists around the world are warning that a recession is looming. According to marketing expert and CEO of the AMD Consulting group, Mr Assil Dayri, as the world moves toward more significant economic uncertainty, influencer marketing will remain a key differentiator for brands. The latest social trends reports predict that social media will top marketing budgets in 2023 as marketers turn to new strategies like a TikTok marketing strategy. Business plans already consider the imminent recession, and the marketing and social media sectors would

By Adedapo Adesanya  Oil rose for the fourth consecutive day this week on Friday and recorded what is the biggest weekly gain in more than a month due to support caused by falling U.S. crude inventories. The weekly performance rise was influenced by the surprise drop in the United States inventories, with crude stocks dropping by about 1.7 million barrels last week. On Friday, the Brent crude was set for a weekly gain of almost 4 percent or 34 cents to settle at $61.73 per barrel, while the West Texas Intermediate (WTI) crude rose by 46 cents to settle at

By Investors Hub European stocks are mostly higher on Tuesday as oil extended gains amid Middle East tensions and the dollar held steady near its highest level since January on expectations for a faster pace of interest rate hikes. Amid another batch of mixed earnings updates, investors awaited the European Central Bank’s monetary policy decision and a potential meeting in Beijing between officials from the world’s two largest economies this week for directional cues. While the French CAC 40 Index is just above the unchanged line, the German DAX Index is up by 0.2 percent and the U.K.?s FTSE 100