Economy
US Shares Gain Momentum as Midterms Excite Investors
By Investors Hub
The major U.S. index futures are pointing to a higher opening on Wednesday, with stocks likely to see further upside after ending the previous session mostly higher.
The upward momentum on Wall Street comes as the results of the highly anticipated midterm elections on Tuesday came largely in line with expectations.
Democrats are projected to retake control of the House for the first time since 2010, as Democratic candidates managed to flip a number of suburban districts across the country.
Control of the House will give Democrats subpoena power, potentially leading to numerous investigations of President Donald Trump?s administration.
House Democrats will also play a much larger role if Trump hopes to achieve any major legislative accomplishments in the next two years.
Meanwhile, Democrats did not fare as well as in the Senate, as Republicans appear poised to expand their majority in the upper chamber.
Republican candidates won Democratic Senate seats in Indiana, Missouri, and North Dakota and are leading in tight races in Florida, Arizona, and Montana.
The GOP had been seen as likely to maintain control of the Senate due to the tough map faced by Democrats, who were defending 26 of the 35 seats on the ballot.
With Republicans expanding their majority, Trump will likely have an easier time pushing through more controversial judicial nominees.
Stocks fluctuated over the course of the trading session on Tuesday but largely maintained a positive bias on the day. The major averages all moved to the upside following the mixed performance seen in the previous session.
Going into the close, the Dow and the S&P 500 reached new highs for the session. The Dow advanced 173.31 points or 0.7 percent to 25,635.01, the Nasdaq climbed 47.11 points or 0.6 percent to 7,375.96 and the S&P 500 rose 17.14 points or 0.6 percent to 2,755.45.
The strength on Wall Street came as stocks continued to recover from the sell-off seen in October, which was one of the worst months for the markets in years.
However, traders seemed reluctant to make more significant moves amid uncertainty about the outcome of the highly anticipated midterm elections.
Traders also continued to look ahead to the Federal Reserve’s monetary policy announcement, with the Fed due to announce is latest decision on Thursday.
The Fed is widely expected to leave interest rates unchanged, but traders will keep a close eye on the accompanying statement for clues about an expected rate hike in December.
Most of the major sectors ended the day showing only modest moves, although considerable strength was visible among chemical stocks. Reflecting the strength in the chemical sector, the S&P Chemical Sector Index climbed by 1.5 percent.
Semiconductor stocks also showed a notable move to the upside, resulting in a 1.1 percent advance by the Philadelphia Semiconductor Index. The index rebounded after pulling back over the two previous sessions.
Within the semiconductor sector, Advanced Micro Devices (AMD) posted a strong gain after announcing its EPYC processors are now available on Amazon Web Services.
On the other hand, gold stocks came under pressure over the course of the session, dragging the NYSE Arca Gold Bugs Index down by 1.3 percent.
The weakness among gold stocks came amid a decrease by the price of the precious metal, with gold for December delivery falling $6 to $1,226.30 an ounce.
By Dipo Olowookere
ASO Savings and Loans Plc has been delisted from the daily official list of the Nigerian Exchange (NGX) Limited.
This action followed the revocation of the operating licence of the company by the Central Bank of Nigeria (CBN) in December 2025.
In a circular on behalf of the NGX Regulation (NGX RegCo) by Ugochi Eke, it was disclosed that the effective date of the delisting is today, Friday, January 16, 2026.
Already, the company has been notified of this development, according to the notice obtained by Business Post.
Before ASO Savings lost its operating licence, it had failed to meet some post-listing requirements, a part of the disclosure from the NGX RegCo stated.
“The board of NGX Regulation Limited via its decision dated January 1, 2026, approved that the step below should be taken pursuant to the process for regulatory delisting of issuers.
“The board has approved the delisting of ASO Savings and Loans Plc from the Nigerian Exchange Limited’s daily official list effective January 16, 2026.
“ASO Savings is hereby notified of this enforcement action and is advised to direct any communication in respect of the foregoing to [email protected].
“NGX RegCo was engaging the listed entity, concerning its outstanding post-listing obligations. However, due to the revocation of the operating license of ASO Savings by its primary regulator, the Central Bank of Nigeria (CBN) effective December 16, 2025; NGX RegCo will delist the entity from the daily official list effective January 16, 2026.
“In view of the foregoing, NGX RegCo has proceeded with publishing the name of the Company in the national dailies.
“The company has been duly notified of this enforcement action, and this publication serves as notification to the investing public, particularly shareholders of the company and investors in the Nigerian capital market,” the statement read.
By Adedapo Adesanya
The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has issued a stern warning to oil and gas investors that petroleum licences in Nigeria are strictly for active development, not asset hoarding or speculative holding, declaring that operators must drill or risk losing their rights.
He made this admonition while delivering his message at the 2025 Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Licensing Bid Round Conference in Lagos, where he outlined the government’s hardline stance on asset utilisation and investor accountability.
“The oil assets in portfolio are not mere symbols or souvenirs,” Mr Lokpobiri said, adding that, “Holders of licences are obligated to drill, drill and drill for a shared benefit for the Government, Nigerians and the operators.”
He stressed that the administration is determined to ensure petroleum assets are translated into tangible economic value, noting that licences are time-bound rights granted solely for productive use.
“These assets belong to the Federal Government, and licences are granted strictly for a defined period for productive use, not passive ownership,” the minister said. “Our licensing framework is designed to eliminate speculation and ensure that only serious, capable investors participate.”
Mr Lokpobiri also issued a strong caution to bidders seeking to participate in the 2025 licensing round, urging them to fully understand the process and obligations before submitting bids.
“As prospects take part in this bid round, a clear understanding of the modus operandi guiding the process is essential,” he said, recalling previous bid rounds where some winners attempted to reverse their commitments.
“Past experiences have shown instances where some winning bidders sought refunds based on unmet expectations or perceived asset limitations,” Lokpobiri stated. “Such actions are untenable, as there is no provision in law for the refund of a bid already won.”
According to him, the conference was convened to remove ambiguity and protect the integrity of the licensing system, stressing that the government would strictly enforce all contractual obligations arising from the process.
“This conference serves to provide clarity upfront,” he said. “Participants must be fully informed, deliberate and committed, as the Government will uphold the sanctity of the process and enforce all obligations.”
The minister’s remarks reinforce the Federal Government’s broader push to accelerate upstream development, boost production and attract only technically and financially capable investors into Nigeria’s oil and gas sector, amid renewed licensing activity under the Petroleum Industry Act (PIA).
By Dipo Olowookere
The suspension earlier placed on Premier Paints Plc, preventing investors from buying and selling its stocks on the Nigerian Exchange (NGX) Limited, has now been lifted.
The embargo was removed on Wednesday, a notice from the stock exchange, seen by Business Post, disclosed.
Almost four years ago, Premier Paints was suspended from the bourse due to the inability of its board to file the company’s financial results.
The NGX had on July 1, 2022, informed the investing community it had prohibited the trading of the organisation’s securities “in line with the provisions of Rule 3.1: Rules for Filing of Accounts and Treatment of Default Filing (Default Filing Rules).
The part of the rules provides that: “If an Issuer fails to file the relevant accounts by the expiration of the cure period, the exchange will; a) send to the issuer a second filing deficiency notification within two business days after the end of the cure period, b) suspend trading in the issuer’s securities, and c) notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension.”
In the latest disclosure dated Wednesday, January 14, 2026, and signed by the Head of Issuer Regulation Department of the NGX, Mr Godstime Iwenekhai, it was revealed that Premier Paints has now done the needful.
“The company has now filed all outstanding financial statements to Nigerian Exchange Limited.
“In view of the company’s submission of its outstanding financial statements, and pursuant to Rule 3.3 of the Default Filing Rules, which states that; The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided The exchange is satisfied that the accounts comply with all applicable rules of the exchange. The exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension, that the suspension has been lifted, trading license holders and the investing public are hereby notified that the suspension placed on trading on the shares of Premier Paints Plc was lifted (on) Wednesday, January 14, 2026,” the circular stated.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn