Category: Top Stories

    The Nigerian equities market yesterday reversed the previous day’s positive sentiment to record a decline of 0.13 per cent as sell pressure by speculators heightened in quest of profit taking.   This was majorly impacted by sell down on financial services stocks.   Conversely, market breadth closed positively, recording 23 gainers as against 16 losers.   Consequently, the All-Share Index dipped 35.46 basis points or 0.13 per cent to close at 27,646.15 index points as against 27.681.61 recorded the previous day while market capitalisation of equities depreciated by…

Read More

    Intensifying trade conflicts have sent global growth momentum tumbling toward lows last seen during the financial crisis, and governments are not doing enough to prevent long-term damage, the Organisation for Economic Cooperation and Development (OECD) has said in its latest outlook.   The Paris-based organisation cut almost all economic forecasts it made just four months ago, as protectionist policies take an increasing toll on confidence and investment, and risks continue to mount on financial markets. It sees world growth at a mere 2.9 per cent this year.  …

Read More

South Africa’s central bank left its main interest rate on hold at 6.5 per cent yesterday as expected, saying it would like to see inflation expectations anchored closer to the midpoint of its target range.   The decision by the bank’s monetary policy committee was unanimous.   South Africa has seen benign inflation outcomes this year, but growth has been sluggish. That has piled pressure on President Cyril Ramaphosa, who has staked his reputation on lifting the economy out of a deep slump.   The South African Reserve Bank left…

Read More