NGX Index up 0.03% as Rush for Conoil, MRS Oil Shares Persists

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Peer-2-Peer (P2P) wing of the foreign exchange market on Monday, October 2, as the official market, the Investors and Exporters (I&E) window closed for the Independence Day holiday. In the P2P segment, the Nigerian Naira appreciated against the American currency by N3 to sell at N998/$1 compared with the preceding session’s value of N1,001/$1. In the same vein, the local currency improved its value against the US Dollar on Tuesday by N1 to sell at N1001/$1 versus the previous session’s exchange rate of N1002/$1. During the Independence Day

By Adedapo Adesanya The prices of Brent futures and the US West Texas Intermediate (WTI) futures went down by about 1 per cent on Friday, due to macroeconomic concerns and sustained profit-taking. Data showed that Brent fell by 7 cents to $95.31 per barrel and WTI depreciated by 92 cents to $90.97. Prices rose about 30 per cent in the third quarter of the year helped by the production cuts by the Organisation of the Petroleum Exporting Countries and allies (OPEC+). This action squeezed global crude supply. Brent was about 2.2 per cent in the week and 27 per cent

Traders Union (TU) experts know that every investor has their own special way of investing that sets them apart from the rest. A famous investor, Carl Icahn, is one of those exceptional figures who did things differently and achieved a lot. Understanding what he did and how he did it can be really helpful for new traders. It’s like having a practical guide that can turn a beginner into a pro trader quickly. Discover Carl Icahn trading strategy by reading on. Biography of Carl Icahn Born on February 16, 1936, in Far Rockaway, Queens, New York, Carl Icahn grew up

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed Week 39 mixed as the unlisted securities index rose by 0.83 per cent, while the market capitalisation depreciated by 2.63 per cent after VFD Group Plc finally delisted after three years of trading on the platform. According to data from the bourse, the NASD index went up by 6.70 points to 815.65 points from 808.95 points, while the value of the exchange shrank by N30 billion to N1.110 trillion from N1.140 trillion. In the week, Nipco Plc improved its value by 9.8 per cent to close at N95.00 per share

By Modupe Gbadeyanka The National Bureau of Statistics (NBS) has said the consumer price index (CPI), which measures inflation, increased in the month of May 2019 by 11.40 percent (year-on-year) from 11.37 percent recorded in April 2019, representing 0.03 percent rise. According to the stats office, increases were recorded in all COICOP divisions that yielded the headline index, while on month-on-month basis, the headline index increased by 1.11 percent in May 2019, 0.17 percent rate higher than the rate recorded in April 2019, which stood at 0.94 percent. The NBS said the percentage change in the average composite CPI for

By Dipo Olowookere Nigerian car manufacturing firm, Innoson Group, has entered into a partnership deal with a Chinese consortium to invest about $1 billion in the information and technology sector. The deal is expected to provide about 7,000 jobs for the youths. A part of the partnership is a $400 million investment in Nigeria’s DSO project Digital Satellite TV Station and an additional $600 million covering other important sectors. In a statement to newsmen by the spokesman of Innoson Group, Mr Cornel Osigwe, it was disclosed that the multi-billion investment deal will bring about production of Broadcast Digital Set-Top-Boxes. Mr

By Dipo Olowookere World’s leading antibacterial brand, Dettol, has called on all Nigerians to imbibe the handwashing habit as a day-to-day activity, a practice which will reduce the incidence of communicable diseases by 59 percent according to recent findings of the World Health Organisation. This call comes as Nigeria joins the rest of the world in celebrating the 2018 Global Handwashing Day, today, October 15. During the event marking this year’s GHD in Abuja, over 2,000 school children drawn from 7 public and private schools which have benefited from Dettol’s School Hygiene Programme across 4 Local Governments in the FCT,

By Dipo Olowookere The suspension earlier placed on Presco Plc, which prohibited the trading of its shares by investors, has been lifted, Business Post has confirmed. In a disclosure obtained by this newspaper, it was gathered that the embargo was removed from the company on Thursday, August 3, 2023. Presco was one of the companies banned from trading their shares on the Nigerian Exchange (NGX) Limited last month for failing to file their financial statements. In a circular signed by the Head of Listings Regulation Department at the NGX, Mr Godstime Iwenekhai, it was disclosed that the organisation has done

By Adedapo Adesanya Oil prices showed no sign of slowing yet again on Wednesday as a drop in crude inventories in the United States supported the market amid a supply crunch in the energy market. Brent crude rose by 80 cents or 0.94 per cent to trade at $85.88 per barrel and the US West Texas Intermediate (WTI) crude added 91 cents or 1.1 per cent to sell at $83.87 per barrel. A week after it reported a sizeable oil inventory build that pushed prices lower for a while, US crude stocks fell by 431,000 barrels in the most recent

By Adedapo Adesanya Premier digital industrial company, General Electric (GE), is pushing for younger African women to major in Science, Technology, Engineering, and Mathematics (STEM) studies. At a Women in STEM mentorship roundtable held in Abidjan, Cote D’Ivioire, female students from the Institut National Polytechnique Félix Houphouët-Boigny (INPHB) were mentored by four leaders in energy with exemplary resumes and combined decades of wisdom. The mentees were guided by Mmes Kristin Carvell, the Global Communications Leader, GE Gas Power; Kadidjatou Diallo, Managing Director, La Compagnie Ivoirienne de Production d’Electricité (CIPREL), Aphi Amoussou Nanan, Director of Generation, CI ENERGIES; and Mrs Bethel

By Modupe Gbadeyanka Liberian President, Ms Ellen Johnson Sirleaf, has been inaugurated as Chairman of the High Level Panel on Migration (HLPM) in Africa at a meeting held on Tuesday in Monrovia. Established in April 2016 by the Economic Commission for Africa (ECA) under the direction of the joint African Union (AU) and ECA Conference of Ministers in Addis Ababa, HLPM is made up of 14 members. The panel aims to push migration issues to the top of policy agenda by engaging major stakeholders and partners. During the launch on Tuesday, Ms Sirleaf said, “Just last week, some 40 young

By Dipo Olowookere Head Coach of West Bromwich Albion, Mr Alan Pardew, has left the English club battling with relegation. The former Crystal Palace manager parted ways with West Brom on Monday morning. The club is presently at the bottom of the EPL table. On Saturday, the Baggies lost their home match against Burnley by two goals to one, leaving the club 10 points from safety with six games remaining. It was the eighth successive league defeats for Mr Pardew, who was appointed by Albion on November 29, 2017 after the club sacked its former handler, Mr Tony Pulis, who