United Capital Posts N11.3bn Earnings in Nine Months

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

By Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

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

By Dipo Olowookere Profit-taking persisted on the floor of the Nigerian Exchange (NGX) Limited, as investors refused to tone down their profit-taking activities. It was observed that the market is gradually entering panic mode due to macroeconomic instability in the country, especially with the exchange rate of the Naira to the Dollar going above N1,000 in the parallel market. A stockbroker with one of the leading brokerage firms in the country, who asked not to be named, said the local bourse was witnessing panic selling due to investors liquidating their shares for Dollars. “This trend will continue for a while

By Modupe Gbadeyanka Trading activities on the Nigerian Stock Exchange (NSE) continued on a depressed note on Tuesday with the market indices dropping by 0.29 percent. The all-share index recorded a marginal loss of 0.29% or 79.68 basis points to close at 27,555.31 basis points. Market capitalisation also recorded a decline on Tuesday with a loss of N27.368 billion to finish at N9.464 trillion. Yesterday, the market capitalisation fell by N77.639 billion to close at N9.492 trillion. At the end of trading activities today, Business Post correspondent observed that investors staked N1.617 billion on 154.161 million shares transacted in 2,510

By Modupe Gbadeyanka Some children living in the Tarkwa Bay area of Lagos State were recently given a big treat by a leading Quick Service Restaurant (QSR), Eat ‘N’ Go Limited. The firm partnered with Slum2School, a foremost non-governmental organisation (NGO), to celebrate the Tarkwa Bay children in commemoration of the 2021 International Literacy Day. “We are delighted to be an active participant of such a formidable partnership, by providing a sound education for underserved children across different communities in the country, which gives them aspiration and hope for a brighter future through the provision of quality education,” the Group

By Adedapo Adesanya  Nigeria’s Minister of Environment, Mr Mohammed Abdullahi, will represent President Muhammadu Buhari at the upcoming Conference of the Parties 27 (COP 27). This was disclosed by the Federal Ministry of Environment on Friday, November 4, through its official Twitter account ahead of  COP 27, which will start tomorrow in Sharm el-Sheikh, Egypt, till November 18, 2022. According to the announcement, President Buhari directed Mr Abdullahi to represent him as the head of Nigeria’s delegation. The Ministry explained that the Minister is expected to host sessions on how to combat desertification. The focus would be on the ongoing

By Adedapo Adesanya Oil prices crashed more than 12 per cent on Friday as a new COVID-19 strain sparked fears about a demand slowdown just as supply increases. As a result, the Brent crude plunged by 11.6 per cent or $9.50 to settle at $72.72 per barrel, while the West Texas Intermediate (WTI) crude declined by 13.1 per cent or $10.24 to sell for $68.15 per barrel. The discovery of a new COVID-19 variant in Southern Africa is already dampening economic growth and triggering another demand slump. The World Health Organization (WHO) warned of the new COVID variant detected in

By Bliss Okperan A news report filtering in indicates that a part of the Supreme Court complex in Abuja has been gutted by fire. The incident, according to what Business Post gathered, happened on Monday morning. It was said that offices of three justices were affected by the inferno, whose cause is yet unknown at the time of filing this report. Details later…

By Modupe Gbadeyanka Treasury bills worth N277.07 billion maturing this week via the secondary market are expected to stabilise the interbank lending rate. Business Post reports that last week, the overnight lending rate skyrocketed by 15.33 percent after closing at 22.50 percent against the 7.17 percent it settled the previous Friday. Also, the Open Buy Back (OBB) rate jumped to 20.86 percent last Friday from 6 percent it finished a week earlier. This was largely due to the renewed financial system liquidity strain as banks were not willing to lend to one another. According to analysts at Cowry Asset, the

By Modupe Gbadeyanka The bearish performance on the floor of the Nigerian Stock Exchange (NSE) was extended on Friday by the major market indices, Business Post reports. Just like yesterday, 7up again topped the losers’ chart dominated by 17 other stocks, leaving the market breadth to close negative with only 14 appreciating stocks. The All-Share Index fell by 93.38 points or 0.37 percent to finish the day at 25,189.37 points, while the market capitalisation depreciated by N32.3 billion to end at N8.716 trillion and the year-to-date return at -6.27 percent. At the close of trading on the NSE on Friday,

By Modupe Gbadeyanka Friday, October 22, 2021, will remain fresh for a long time for Mr Abiodun Coker, a journalist, public relations expert and core member of the media relations department of United Bank for Africa (UBA). It was a day for the burial of the grandmother of the former reporter with a foremost business newspaper in Nigeria, Business Day, in Lagos, Mrs Joanna Tokunbo, who was born on August 31, 1934, died on September 23, 2021, at the age of 87. The three days event kicked off with a Christian wake on Tuesday, October 19, service of songs on