Nigerian Stocks Extend Rally as Investors Rush AIICO Plc Shares

By Adedapo Adesanya Crude oil prices fell on Thursday members of the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) agreed to voluntary output cuts for the first quarter of next year, falling short of market expectations. As a result, Brent crude futures lost 27 cents or 0.3 per cent to close at $82.83 per barrel, and the US West Texas Intermediate (WTI) crude futures went down by $1.90 or 2.4 per cent to $75.96 a barrel. On a monthly basis, Brent fell by 5.2 per cent while WTI was down by 6.2 per cent. Saudi Arabia, Russia

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Adedapo Adesanya  Oil prices rose by more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in crude stockpiles in the United States. Brent crude futures were up by $1.01 or 1.2 per cent to $82.69 per barrel, and the US West Texas Intermediate (WTI) crude futures gained $1.16 or 1.5 per cent to close at $77.57 a barrel. Prices were lifted by a media report that the Organisation of the Petroleum Exporting Countries and allies such as Russia, known collectively as OPEC+, was considering

By Dipo Olowookere Over 32 countries have assembled in Addis Ababa for the annual Africa review and follow up of the progress in achieving the World Summit on Information (WSIS) outcomes. The experts in attendance are also focusing on emerging issues in ICT in relation to the implementation of the Agenda 2030 Sustainable Development Goals. Organized by the Economic Commission for Africa (ECA), the meeting brings together African policy makers, ICT experts, and representatives of regional and international organizations, telecommunications operators, private sector, civil society, academic and research institutions. In his opening remarks, Mr Kasirim Nwuke, Chief, New Technologies and

By Adedapo Adesanya The week ended at the NASD Over-the-Counter (OTC) Securities Exchange in the positive territory as the bourse extended its recent bullish run on Friday, April 9. Two of the bellwether stocks spurred the 0.27 per cent appreciation recorded at the unlisted securities market yesterday. These equities were Niger Delta Exploration and Production (NDEP) Plc and VFD Group Plc and they both recorded heavy gains to raise both the market capitalisation higher and the market index to break its previous day year-to-date high. They overpowered the loss recorded by FrieslandCampina WAMCO Nigeria Plc, which declined by N3.90 or

By Modupe Gbadeyanka Losses recorded by International Breweries and 14 other counters overpowered gains posted by 21 equities on the floor of the Nigerian Stock Exchange (NSE) on Thursday. Business Post reports that there was a renewed sell pressure at the local bourse yesterday as investors approached the market with caution, slowing the index down by 0.14 percent at the close of transactions. While the All-Share Index (ASI) depreciated by 45.4 points to close at 32,568.65 points, the market capitalisation decreased by N17 billion to finish at N12.145 trillion. A look at the price movement chart yesterday revealed that International

By Modupe Gbadeyanka Federal Government has reassured medical doctors on its payroll that it is fully committed to ensuring that all workers were captured in the Integrated Personnel and Payment Information System (IPPIS). Speaking in Abuja, the Accountant-General of the Federation, Mr Ahmed Idris, while receiving the members of the National Association of Resident Doctors (NARD) and representatives of the Nigerian Medical Association (NMA) who were at the Treasury House in Abuja to interact with him, explained that although it is government’s plan to ensure that all agencies of government and categories of staff are enrolled in the scheme, but 

By Adedapo Adesanya Oil prices fell on Thursday as the Organisation of the Petroleum Exporting Countries (OPEC) signalled demand worries, causing Brent crude to drop $1.24 or 1.4 per cent to settle at $86.09 per barrel, as the US West Texas Intermediate (WTI) slipped by $1.10 or 1.3 per cent to $82.16 a barrel. Both benchmarks had gained 2 per cent on Wednesday to their highest in more than a month, as cooling US inflation spurred hopes that the US Federal Reserve will stop raising interest rates. However, OPEC flagged downside risks to summer oil demand in a monthly report

By Dipo Olowookere Nigerian stocks appreciated by 0.43 per cent on Friday on the back of sustained bargain hunting and improved trading activity. During the last trading session for the week, investors exchanged 287.0 million equities worth N3.0 billion in 3,578.00 as against the 228.1 million shares worth N2.6 billion traded in 3,656 deals the previous day. This increase was buoyed by financial stocks with Access Bank trading 46.8 million units worth N351.8 million, while GTBank transacted 42.7 million units valued at N1.3 billion. Linkage Assurance sold 29.3 million stocks for N23.7 million, FBN Holdings exchanged 22.8 million equities worth

By Investors Hub The major U.S. index futures are pointing to a higher opening on Thursday, with stocks likely to see further upside after ending the previous session mostly higher. The upward momentum on Wall Street comes as traders continue to shrug off concerns about the escalating trade dispute between the U.S. and China. JPMorgan Chase Jamie Dimon sought to downplay the trade dispute in comments to CNBC-TV18, calling it a ?trade skirmish? rather than a trade war. Upbeat economic data may also generate some positive sentiment, with a report from the Labor Department showing initial jobless claims unexpectedly dipped

It’s been a mixed season for Manchester United but there is still a chance that the Red Devils will end the campaign with some major silverware. Having briefly led at the top of the Premier League table, United have slipped back while bitter rivals Manchester City have established a big lead. The EPL title may be gone but United can now focus on the Europa League. Thanks to the misfortune of another English club, Ole Gunnar Solskjaer’s side have a clearer path to the trophy. Spurs Slip Up Tottenham Hotspur had been favourites to win the Europa League for some