The Organisation of Petroleum Exporting Countries has urged its member nations, not to mention oil prices when discussing policy in a break from the past, as the oil-producing group seeks to avoid the risk of US legal action for manipulating the market, sources close to OPEC said. Proposed US legislation, known as “NOPEC” which could…
The National Bureau of Statistics on Tuesday released the Consumer Price Index, which measures inflation, with the rate rising from 11.23 per cent in August to 11.28 per cent in September 2018. This is the second consecutive rise in headline inflation after 18 consecutive months of decline in the rate. “The Consumer Price Index, which…
Equities Market The Nigerian equities market recorded an increase on all its indicator as both NSE ASI and market capitalization increased by 0.95% respectively, as they both closed at 32,722.18points and N11,946.21tr respectively. Year-to-Date ASI is at a negative of 14.28%. Volume, Value of trades and No of trades all increased by 624.26%, 452.77% and…
Equities Market The Nigerian equities market closed in the Green at the end of the day’s trading activity, as both NSE ASI and market capitalization decreased by 0.11% respectively, as they both closed at 32,417.82points and N11,835.01tr respectively. Year-to-Date ASI is at a negative of 15.28%. Volume, Value of trades and No of trades all…
The world’s biggest trading houses said on Wednesday they saw oil prices not falling below $65 per barrel and possibly breaking above $100 next year as U.S. sanctions on Iran reduce crude exports from the Islamic republic. The range of views illustrates deep uncertainty among top industry players over the outlook, given the re-imposition of…
U.S. wholesale inventories rose slightly more than initially thought in August. The Commerce Department said on Wednesday wholesale inventories rose 1.0 percent instead of the 0.8 percent initially reported last month. Stocks at wholesalers in July rose 0.6 percent. Inventories rose 5.3 percent year-over-year as of August. The component of wholesale inventories that goes into…
Risks to the global financial system have risen over the past six months and could increase sharply if pressures in emerging markets escalate or global trade relations deteriorate further, the International Monetary Fund said on Wednesday. The IMF, whose autumn meetings with the World Bank get under way on the Indonesian resort island of Bali…
AS 12 banks record marginal growth of 0.02 percent to N920.4 billion from N920.2 billion in H1’17, stakeholders and operators in the capital market have frowned at the low interest income recorded by leading banks in the first half of 2018 (HI’18). But the banks have, however, reduced their bad debts (impairment losses) by 26.1…
The International Monetary Fund has said Nigeria needs to be cautious about the use of its foreign exchange reserves, saying oil prices could decline at any time. The nation’s external reserves have been declining in recent months, falling fell to $44.30bn on September 28 from $45.83bn at the end of August. The reserves dropped further…
THE Nigerian Stock Exchange, NSE, has commenced move towards introducing electronic-Initial Public Offering, e-IPO, in the Nigerian capital market, just as stock broking firms were charged to adopt technology in their services to clients to boost market participation. Speaking at the 22ND Chartered Institute of Stockbrokers, CIS, Conference in Lagos, with the theme: ‘‘Evolution of…
