Economy
Trade Concerns May Continue to Weigh on US Stocks
By Investors Hub
The major U.S. index futures are pointing to a lower opening on Thursday, with stocks likely to extend the pullback seen over the course of the previous session.
The downward momentum on Wall Street may partly reflect concerns about the global economic impact on the ongoing trade dispute between the U.S. and other major economies.
Negative sentiment may also be generated in reaction to a Commerce Department report showing weaker than previously estimated U.S. economic growth in the first quarter.
After failing to sustain an early move to the upside, stocks turned lower over the course of the trading session on Wednesday. The major averages all pulled back off their best levels of the day and into negative territory.
The major averages ended the session just off their worst levels of the day. The Dow fell 165.52 points or 0.7 percent to 24,117.59, the Nasdaq plunged 116.54 points or 1.5 percent to 7,445.08 and the S&P 500 slid 23.43 points or 0.9 percent to 2,699.63.
Stocks initially benefited from news that President Donald Trump’s plan to crack down on Chinese investments in the U.S. is less harsh than feared.
Administration officials told reporters Trump wants to strengthen the Committee on Foreign Investment in the U.S. to prevent foreign companies from violating intellectual-property rights of American companies.
Trump expressed support for legislation that would expand CFIUS’ authority in a White House statement released Wednesday.
The president said the bill known as the Foreign Investment Risk Review Modernization Act would enhance the administration’s ability to protect the U.S. from new and evolving threats posed by foreign investment.
Trump argued the legislation would still sustain the strong, open investment environment to which the country is committed and which benefits the U.S. economy.
Reports earlier this week suggested Trump intended to use the International Emergency Economic Powers Act of 1977 to limit Chinese investment in the U.S.
However, technology stocks came under pressure over the course of the session, contributing to the steep drop by the Nasdaq.
In U.S. economic news, the Commerce Department released a report showing a smaller than expected decrease in new orders for U.S. manufactured durable goods in the month of May.
The Commerce Department said durable goods orders fell by 0.6 percent in May after tumbling by a revised 1.0 percent in April.
Economists had expected durable goods orders to drop by 1.0 percent compared to the 1.6 percent slump that had been reported for the previous month.
Excluding orders for transportation equipment, durable goods orders dipped by 0.3 percent in May after spiking by 1.9 percent in April. Ex-transportation orders had been expected to rise by 0.5 percent.
Meanwhile, a separate report from the National Association of Realtors showed an unexpected decrease in pending home sales in May.
NAR said its pending home sales index fell by 0.5 percent to 105.9 in May after slumping by 1.3 percent to 106.4 in April. Economists had expected pending home sales to climb by 0.5 percent.
Biotechnology stocks moved sharply lower over the course of the trading session, dragging the NYSE Arca Biotechnology Index down by 2.8 percent. With the drop, the index fell to its lowest closing level in over a month.
Substantial weakness also emerged among semiconductor stocks, as reflected by the 2.5 percent loss posted by the Philadelphia Semiconductor Index. The index also slid to its worst closing level in well over a month.
Financial, steel, gold and computer hardware stocks also came under pressure over the course of the session, contributing to the pullback by the broader markets.
On the other hand, significant strength remained visible among energy stocks, which moved higher along with the price of crude oil.
Reflecting the strength in the energy sector, the Philadelphia Oil Service Index surged up by 2.9 percent, while the NYSE Arca Natural Gas Index and the NYSE Arca Oil Index both climbed by 1.1 percent.
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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