NASD, Aradel Pull Down Unlisted Stock Market By 0.04%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded yet another positive week-on-week performance after stretching its gains by 1.44 per cent in Week 47. This expanded the portfolios of NASD investors by N17 billion in the week to N1.162 trillion from the N1.145 trillion recorded in Week 46, as the NASD Unlisted Security Index (NSI) increased by 12.16 points to 857.29 points from 845.13 points in the previous week. The trading week was with three price gainers and three losers, with Aradel Holdings Plc on top of the advancers’ chart after it grew by 10 per cent to finish

By Aduragbemi Omiyale The sum of N75 million has been disbursed to 15 small and medium-sized businesses (SMBs) in Nigeria to support their expansion drive. The funding package was given by Google’s Hustle Academy, with beneficiaries drawn from various industries, including agriculture, and fashion, among others. The 15 Nigerian small business owners were among the 5,300 entrepreneurs who graduated from the academy, designed by the tech giant to provide an avenue for participants to enhance their business skills and knowledge, and contribute to the growth of the continent’s economy. The recipients of the funding support are Ifeoma Augusta Anselem of

By FBS As Black Friday approaches, global broker FBS delves into the relationship between the year’s biggest sales season and its impact on the financial markets. The FBS analysts particularly discover the trends of the world’s largest economy – the American. They analysed reactions across assets and macroeconomic conditions to understand the Black Friday impact better. What influences the Black Friday numbers FBS analysts highlight three critical indicators for gauging Black Friday’s impact on the US economy: the number of buyers, the average amount spent, and the total spending. Over the past 18 years, notably successful in terms of total

By Adedapo Adesanya Brent crude benchmark dipped below $80 a barrel on Monday, precisely losing 60 cents of 0.7 per cent to trade at $79.98 a barrel as investors await this week’s meeting of the Organisation of the Petroleum Exporting Countries and their allies (OPEC+). The group is anticipated to maintain its ceiling on crude oil production by member countries into 2024. This affected the oil market, with the West Texas Intermediate (WTI) crude futures declining yesterday by 68 cents or 0.9 per cent to trade at $74.86 per barrel. Last week, the 23-man OPEC+ postponed its Sunday ministerial meeting

By Dipo Olowookere A member of staff of the Securities and Exchange Commission (SEC), Mr Amos Isaac Azi, has been chosen by President Muhammadu Buhari as the new Chairman/CEO of the Investments and Securities Tribunal (IST). Mr Azi, a legal practitioner, was appointed by the President to replace Mr Siaka Isiah Idoko-Akoh, who he removed from the position in September 2019. His removal was announced then through a circular signed by the Permanent Secretary Federal Ministry of Finance, Dr Mahmoud Isa-Dutse. But in a statement yesterday, it was said that Mr Azi has been selected by the President as the

By Investors Hub Asian shares ended mixed on Tuesday as Chinese data disappointed and worries about Turkey eased slightly after the country?s central bank announced a raft of measures aimed at soothing markets. China?s Shanghai Composite Index eased 4.91 points or 0.2 percent to finish at 2,780.96 after a slew of Chinese data on industrial output, retail sales and fixed asset investment came in slightly below expectations. Hong Kong’s Hang Seng Index closed 183.64 points or 0.7 percent lower at 27,752.93. Retail sales in China jumped an annual 8.8 percent in July, a tad below expectations for a 9.1 percent

European stocks are broadly higher on Thursday, with automakers leading the gainers amid reports the Trump administration might suspend threats to impose tariffs on cars imported from the European Union if the block lifted duties on U.S. cars. Investors also cheered data from Destatis showing German factory orders rebounded at a faster than expected pace in May. Germany factory orders jumped 2.6 percent month-on-month in May, in contrast to a revised 1.6 percent drop in April. Analysts expected orders to climb 1.1 percent. While the U.K.?s FTSE 100 Index has risen by 0.6 percent, the French CAC 40 Index and

By Modupe Gbadeyanka The Nigerian Stock Exchange (NSE) on Friday closed the week on a negative note as the All-Share Index (ASI) and the market capitalisation depreciated by 8.66 points and N3 billion respectively to close at 25,746.52 points and N8.908 trillion. This reversed the 1.11 percent rise the market recorded yesterday against the 0.03 percent loss today, leaving the year-to-date return at -4.20 percent. But despite the N3 billion lost by investors in contrast to the N98 billion gain on Thursday, the market breadth ended positive on Friday with 16 gainers compared with 14 losers. Lafarge lost N2.50k today

By Otori Emmanuel An organisation in its early phase of existence is referred to as a start-up. Entrepreneurs that desire to create a product or service think there is a market for launching start-ups. Because start-ups often have high startup costs and low revenue, founders frequently look for money from a variety of internal and external sources, including personal savings, loans from family and friends, business venture capitalists, and crowdsourcing. There are start-ups in different industries like Information Technology, agriculture, communication, health and other sectors. Start-ups and Innovation Establishing a start-up takes careful planning, including consideration of factors like business

By Dipo Olowookere It was another disappointing day on the floor of the Nigerian Exchange (NGX) Limited on Thursday as the profit-taking witnessed lately persisted, causing another loss of 0.51 per cent. Investors are struggling to have confidence in the market as the festive season draws closer and in the absence of a positive trigger, cautious trading has become the order of the day. Consequently, the All-Share Index (ASI) further depleted by 215.18 points to close at 42,247.98 points compared with the previous day’s 42,463.16 points, while the market capitalisation declined by N112 billion to N22.045 trillion from N22.157 trillion.

By Adedapo Adesanya As oil prices continue to hit record lows, the International Energy Agency (IEA) has advised producers of the commodity to further reduce output. Less than two weeks ago, some oil producers led by the Organisation of the Petroleum Exporting Countries (OPEC) agreed to cut production 9.7 million barrels per day, representing 10 percent of global supply. But the Executive Director of the IEA, Mr Fatih Birol, noted that, “We continue to see extraordinary turmoil in oil markets in this “Black April” for the industry. The OPEC+ supply cut is a solid start but insufficient to rebalance the

By Dipo Olowookere Popular Lagos-based lawyer, Mr Fred Agbaje, has breathed his last at a hospital in London, multiple reports say. According to the reports, the human rights lawyer died on Saturday. However, the cause of his death was still sketchy as at the time of filing in this report. He was said to have been battling with an undisclosed ailment and travelled to London for treatment. While alive, Mr Agbaje was very vocal on issues concerning the masses and the country. He was one lawyer who spoke on government policies he felt were not favourable to the common people.