Economy
US Stocks May Experience Choppy Trading Early on

By Investors Hub
The major US index futures are pointing to a roughly flat open on Friday following the weakness seen in the previous session. The futures pulled back following the release of a report from the Commerce Department unexpectedly showing a steep drop in housing starts in the month of May.
Following the mixed performance seen on Wednesday, stocks moved mostly lower during trading on Thursday. The major averages regained ground after an early move to the downside but remained stuck in negative territory.
The Dow edged down 14.66 points or 0.1 percent to 21,359.90, the Nasdaq fell 29.39 points or 0.5 percent to 6,165.50 and the S&P 500 dipped 5.46 points or 0.2 percent to 2,432.46.
The weakness on Wall Street came as traders continued to digest the Federal Reserve’s decision to raise interest rates by a quarter point on Wednesday.
Traders were also reacting to a slew of U.S. economic data, including a report from the Labor Department showing a bigger than expected drop in initial jobless claims in the week ended June 10th.
The report said initial jobless claims fell to 37,000, a decrease of 8,000 from the previous week’s unrevised level of 245,000. Economists had expected jobless claims to drop to 242,000.
A separate report released by the Labor Department showed a bigger than expected drop in import prices in the month of May, reflecting a steep decline in prices for fuel imports.
The Labor Department said its import price index fell by 0.3 percent in May after rising by 0.2 percent in April. Economists had expected import prices to edge down by 0.1 percent.
The report also said export prices slid by 0.7 percent in May following a 0.2 percent increase in the previous month. Export prices had been expected to inch up by 0.1 percent.
Growth in Philadelphia-area manufacturing activity slowed in the month of June, according to a report released by the Federal Reserve Bank of Philadelphia.
The Philly Fed said its index for current manufacturing activity in the region decreased to 27.6 in June from 38.8 in May, although a positive reading still indicates growth. The index had been expected to drop to 24.0.
After reporting a contraction in regional manufacturing activity in the previous month, the Federal Reserve Bank of New York released a report showing a rebound in activity in the month of June.
The New York Fed said its general business conditions index shot up to 19.8 in June from a negative 1.0 in May, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to rise to 4.0.
The Fed also released a report this morning showing that U.S. industrial production was unchanged in the month of May.
The Fed said industrial production was flat in May after jumping by 1.1 percent in April. Economists had expected production to rise by 0.2 percent.
Meanwhile, homebuilder confidence in the U.S. unexpectedly decreased in the month of June, according to a report released by the National Association of Home Builders on Thursday.
The report said the NAHB /Wells Fargo Housing Market Index dropped to 67 in June from 69 in May. The decrease surprised economists, who had expected the index to inch up to 70.
Steel stocks showed a substantial move to the downside on the day, dragging the NYSE Arca Steel Index down by 2.6 percent.
Energy, gold and retail stocks also saw considerable weakness on the day, moving lower along with most of the other major sectors.
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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