Stocks Climb From Lowest Since 2016; Dollar Drops
Bill Ackman, Pershing Square Capital Management founder and chief executive officer, says he is going all long on markets because the U.S. is getting to the right place on the…
NSE Shuts Trading Floors, Resorts To Remote Trading Because Of Corona Virus
Following the raging effect of COVID-19 in the country, the Nigerian Stock Exchange will temporarily close its trading floors and engage in remote trading from March 25. NSE Chief Executive…
Historic Fed Boost Fails To stop Wall Street’s Virus-Driven Sell-Off
Wall Street’s slide deepened on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown, overshadowing unprecedented moves by the U.S. Federal Reserve to shore up credit across…
Economic Shock From Coronavirus Already Bigger Than Financial Crisis — OECD Boss
The world will take years to recover from the coronavirus pandemic, the Organisation for Economic Co-operation and Development has warned. Angel Gurría, OECD secretary general, said the economic shock was…
Coal Is Now the World’s Most Expensive Fossil Fuel
Oil’s epic collapse over the past month means the global crude benchmark is now priced below the most widely traded coal contract on an energy-equivalent basis, according to Bloomberg calculations.…
U.S. Futures Reverse Drop, Bonds Up on Fed Pledge
U.S. equity futures reversed a decline and Treasuries extended an advance after the Federal Reserve on Monday announced a massive second wave of initiatives to support the shuttered American economy.…
Wall Street braces for another bleak week, with coronavirus risks amplified
Wall Street analysts and investment managers expect another rough week for U.S. markets, as coronavirus cases and deaths increase in major cities and lawmakers continue to battle over an economic…
Bitcoin May Need Months to Recover, Fundstrat Chartist Says
Bitcoin’s technicals are in rough shape after its spectacular tumble last week and a recovery might take months, according to Fundstrat Global Advisors LLC.
Goldman Injects $1 Billion Into Own Money-Market Funds After Heavy Withdrawals
Goldman Sachs Group Inc poured more than $1 billion into two of its prime money-market portfolios this week due to heavy investor withdrawals, according to a filing with the U.S.…
World Leaders Set Aside $1.7trillion To Help Failing Economies
Governments around the world have announced massive amounts of fiscal stimulusthis week, aiming to limit the severity of a sharp recession as the coronavirus pandemic shuts down country after country.…
Wall Street Weekahead: Coronavirus Uncertainty Muddies Views On Buying Opportunities For Plunging Stocks
U.S. stock valuations are tumbling in the wake of the coronavirus-fueled market rout, but determining when equities are cheap enough to buy is a tricky proposition. The S&P 500’s price-to-earnings…
Boeing Suspends Dividend Payment
Boeing Co (BA.N) will cancel CEO pay, suspend its dividend and extend a pause on share buybacks, the U.S. planemaker said on Friday, as companies eager for government aid to…
stocks record worst week since the global recession of 2008
US stocks ended Friday’s session lower, although the losses were more contained than they have been in previous weeks. Even so, it was the worst weekly performance for all three…
Stock market loses N371bn in one day
Transactions on the Nigerian Stock Exchange on Thursday halted the previous day’s gain with a loss of 3.12 per cent. The decline was impacted by sell-off in most blue-chip firms…
Wall Street’s New Virtual Workplace May Outlast the Virus
‘The outbreak has created the urgency to try out new ideas’ In Hong Kong, bankers have learned to win stock offerings by video chat, and Morgan Stanley is hosting a…
The Only Question on South African Rate Cut May Be ‘How Much?
The debate around South African interest rates has now moved from whether the central bank will cut, to how much it will cut on Thursday. Of 21 economists in a…
Nigeria stocks record mid-day gain of N150bn despite Coronavirus fears
Equity investors at the Nigerian Bourse are buying value stocks despite renewed fear of Coronavirus (COVID19) following its third case in Lagos, the country’s business capital. The Nigerian citizen returned…
Nigeria to delay proposed $3.3bn Eurobond on coronavirus concerns
Nigerian government will delay this year’s issuance of the $3.3bn it had initially planned because “the time is not ripe”, Finance minister, Zainab Ahmed said on Monday.
Stocks market sees choppy gains in early trading on NSE
Barely one hour into stock trading session on Monday March 16, investors were seen snapping value stocks that are trading at deep discounts. Stock Market gained about N16billion as investors…
Gold Climbs After Fed Cuts Interest Rates as Virus Spreads
Gold jumped in early Asian trading after the Federal Reserve cut its benchmark interest rate by a full percentage point to near zero, pointing to another volatile week ahead for…
Johannesburg Stocks Fall Most Since 1997 in ‘Panic’ Sell-Off
We’re tracking the latest on the coronavirus outbreak and the global response. Sign up here for our daily newsletter on what you need to know. South Africa’s benchmark stock index…
Dow tanks 2,300 in worst day since Black Monday, S&P 500 bear market
It was a historic day on Wall Street. The Dow plunged 10% for its worst day since Black Monday in 1987. The 30-stock index fell 2,352 points — its largest…
Global stocks plunge after Trump announces coronavirus response package
US stock futures and markets around the world slid late Wednesday night as concerns about the economic fallout from the coronavirus pandemic continued to dominate. Futures for the three major…
US stocks surged into the close to end a volatile session on Tuesday.
Sharp mid-day fluctuations came as investors weighed the possible timing of a government stimulus package designed to boost US economic activity amid the coronavirus outbreak. A rally in the final…
Oil Drop May Force Nigeria to Devalue Naira as Reserves Sink
The plunge in oil prices is piling pressure on Nigeria to devalue the naira as dwindling export revenue depletes foreign-exchange reserves, curbing the central bank’s ability to support the currency.…
Dow rebounds 1,167 points a day after suffering worst plunge since financial crisis
US stocks surged into the close to end a volatile session on Tuesday. Sharp mid-day fluctuations came as investors weighed the possible timing of a government stimulus package designed to…
Coronavirus: £130bn wiped off FTSE 100 in minutes
The FTSE 100 has seen more than £130bn wiped from the value of its constituent companies within minutes, in a renewed coronavirus-linked sell-off. The nightmare start to the week came…
Much worse than 2008 Global Financial Crisis?
The breathtaking volatility that has rocked the stock market for two weeks is rippling through other asset classes — and has spread most notably into credit. Amid fears that the…
Aramco Drops Below IPO Price in Blow to Saudi Economic Plan
Saudi Aramco shares dropped below their IPO level for the first time as a looming price war in global crude markets battered the outlook for the kingdom’s flagship oil company.…
No One Wants to Be a Nigerian Stock Trader as Volumes Plunge
Stockbrokers are out of fashion in Nigeria. Not a single company registered to become a dealer on the West African country’s stock exchange in 2019, according to Nigeria’s Securities and…