Month: September 2019

  As the September 17 date set by the National Insurance Commission to end review of insurance operators’ recapitalisation plans approaches, palpable tension has enveloped the industry, especially among those whose plans may not tally with their current financial position and weak public reputation.   Findings revealed that though the operators met the August 20 deadline set by the commission to forward their plans, it was, however, an easier task for companies with foreign interests as they were among the first batch to submit theirs.   This is an indication…

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    The London markets surged higher on the back of news that Hong Kong Exchanges and Clearing tabled a £31.6 billion bid for the London Stock Exchange Group.       The FTSE 100 closed 70.08 points higher at 7,338.03 at the end of trading on Wednesday.   According to Belfast Telegraph, the FTSE surpassed its, also positive, European peers after it was boosted by the takeover offer which will disrupt the UK firm’s tie-up with Refinitiv.       Connor Campbell, financial analyst at Spreadex, said: “Reports of…

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The Nigerian Stock Exchange (NSE) has said that one major reason for low retail investment appetite in the market is inadequate knowledge of investment products and benefits for retail investors.   The Chief Executive Officer, NSE, Oscar Onyema, who stated this at the fourth edition of the NSE market data workshop, said despite the evolving needs of consumers demanding for financial information globally, Nigeria still had low inclination towards investments.   He recalled a research by FSDH, which reported the savings ratio in Nigeria as one of the lowest among…

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Local  equities  rebounded  on  resumed  bargain  hunting  activities yesterday  as overall  performance  measures,  NSE  All Share Index (ASI), grew by 0.39  per cent,  halting five  days losing streak.   The stock market had tumbled for the five days as investors retreated following sell offs and low market sentiments.   The bullish activities were driven by consumer goods and financial services stocks which were highly sought after. At the close of business, 19 stocks appreciated while 13 others declined. Consequently, the All-Share Index gained 105.95 basis points or 0.39 per cent…

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    The Securities and Exchange Commission (SEC) has disclosed that the implementation of its 10-year Capital Market Master Plan is already contributing to growth and development of the Nigerian capital market, and by extension, the economy.       This was disclosed by the Acting Director General of SEC, Ms. Mary Uduk, yesterday, during the opening ceremony of a two-day international capital market conference in Lagos.       The event is organised by the commission in collaboration with University of Lagos.       Uduk described the theme…

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      The unfortunate strike embarked on by British Airways pilots have been described in the media as “the biggest shut-down in history.”   The action is affecting flights across the globe and is expected to cost British Airways around £100 million in revenue loss and additional costs.   More than 200,000 passengers have been affected so far as hundreds of flights were grounded during the first day of the strike planned by the British Airline Pilots’ Association (BALPA) to last through Tuesday, September 10, then to resume on…

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