Economy
US Stocks May Extend Gains on Continued Treasury Yields Pullback
By Investors Hub
The major U.S. index futures are pointing to a higher opening on Monday, with stocks poised to extend the rally seen last Friday.
Early buying interest may be generated by reaction to a continued drop by treasury yields, as the ten-year yield is pulling back further off the ten-year closing high set last Wednesday.
Trading activity may be somewhat subdued, however, with traders looking ahead to the release of several key economic reports.
Shortly after the start of trading, the Commerce Department is scheduled to release its report on new home sales in the month of January.
Reports on durable goods orders, consumer confidence, pending home sales, personal income and spending and manufacturing activity are also likely to attract attention in the coming days.
Additionally, new Federal Reserve Chair Jerome Powell is scheduled to deliver his semi-annual monetary policy report to Congress this week.
Traders are likely to keep a close eye on Powell?s remarks amid lingering concerns about the outlook for interest rates.
After initially moving higher, stocks saw further upside over the course of the trading session on Friday. The major averages showed a significant advance after ending the previous session on opposite sides of the unchanged line.
The major averages ended the session at their best levels of the day. The Dow jumped 347.51 points or 1.4 percent to 25,309.99, the Nasdaq soared 127.31 points or 1.8 percent to 7,337.39 and the S&P 500 shot up 43.34 points or 1.6 percent to 2,747.30.
With the rally on the day, the major averages moved higher for the week. The Nasdaq surged up by 1.4 percent, while the S&P 500 and the Dow rose by 0.6 percent and 0.4 percent, respectively.
A continued drop by treasury yields contributed to the rally on Wall Street, with the ten-year yield pulling back further off the four-year closing high set on Wednesday.
The continued rebound by treasuries came as the Federal Reserve issued its monetary policy report to Congress, with the central bank hinting that it still plans three interest rates hikes in 2018.
“The federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run,” the Fed said, suggesting a gradual pace of rate hikes.
Light trading activity may have exaggerated the upward move, as some traders stayed on the sidelines amid a lack of major U.S. economic data.
Oil service stocks showed a significant move to the upside on the day, driving the Philadelphia Oil Service Index up by 2.8 percent. The strength among oil service stocks came amid a notable increase by the price of crude oil.
Considerable strength was also visible among utilities stocks, as reflected by the 2.6 percent jump by the Dow Jones Utilities Average. The interest rate-sensitive sector likely benefited from the continued pullback by treasury yields.
Semiconductor, natural gas, biotechnology, and telecom stocks also moved notably higher on the day, reflecting broad based buying interest on Wall Street.
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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