Economy
US Stocks May Regain Ground After Previous Day’s Sell-off
By Investors Hub
The major U.S. index futures are pointing to a higher opening on Thursday, with stocks likely to regain ground following the sell-off seen in the previous session.
Bargain hunting may contribute to initial strength on Wall Street, with traders picking up stocks at reduced levels after the major averages ended Wednesday?s trading at multi-month closing lows.
A positive reaction to earnings news from big-name companies such as Microsoft (MSFT) and Twitter (TWTR) may also generate buying interest after disappointing earnings news weighed on the markets in the previous session.
Traders may be somewhat reluctant to get back into the markets following recent volatility, however, with lingering concerns about geopolitical tensions and global economic growth leading to continued uneasiness.
Following Tuesday?s attempted recovery from an early sell-off, stocks showed a substantial move back to the downside during trading on Wednesday. The Dow dropped to its lowest closing level in over three-months, while the Nasdaq and the S&P 500 tumbled to five-month closing lows.
The major averages saw further downside going into the close, ending the day just off their lows of the session. The Dow plunged 608.01 points or 2.4 percent to 24,583.42, the Nasdaq nosedived 329.14 points or 4.4 percent to 7,108.40 and the S&P 500 plummeted 84.59 points or 3.1 percent to 2,656.10.
The renewed selling pressure on Wall Street largely reflected another negative reaction to the latest batch of earnings news from several big-name companies.
Shares of AT&T (T) moved substantially lower after the telecom giant reported third quarter earnings that came in below analyst estimates.
Delivery giant UPS (UPS) also fell sharply after reporting third quarter earnings that matched estimates but weaker than expected revenues.
On the other hand, shares of Boeing (BA) moved to the upside after the aerospace giant reported better than expected third quarter results and raised its full-year guidance.
Negative sentiment was also generated by the release of a report from the Commerce Department showing a steep drop in new home sales in the month of September.
The report said new home sales plunged by 5.5 percent to an annual rate of 553,000 from the revised August rate of 585,000.
Economists had expected new home sales to edge down to a rate of 625,000 from the 629,000 originally reported for the previous month.
With the substantial decrease, new home sales fell to their lowest level since hitting a rate of 546,000 in December of 2016.
News explosive devices were sent to several prominent Democratic figures, including former President Barack Obama and Hillary Clinton, as well as CNN may also have led to some uneasiness on Wall Street.
Biotechnology stocks turned in some of the market’s worst performances on the day, dragging the NYSE Arca Biotechnology Index down by 7.2 percent to its lowest closing level in well over five months.
Within the biotech sector, Alexion Pharmaceuticals (ALXN) posted a steep loss despite reporting better than expected third quarter earnings and raising its full-year guidance.
Substantial weakness was also visible among semiconductor stocks, as reflected by the 6.6 percent slump by the Philadelphia Semiconductor Index. The index tumbled to its lowest closing level in a year.
Texas Instruments (TXN) led the semiconductor sector lower after the chipmaker reported weaker than expected third quarter revenues and provided disappointing fourth quarter guidance.
Energy stocks also saw considerable weakness despite an increase by the price of crude oil, moving notably lower along steel, software, and computer hardware stocks.
Meanwhile, interest rate-sensitive utilities stocks were among the few groups to buck the downtrend, resulting in a 2.3 percent jump by the Dow Jones Utility Average. The average reached a ten-month closing high.
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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