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NEWS

Strong US jobs report boosts Asian markets, dollar

Asian markets rose Monday after a blockbuster US jobs report soothed any concerns about the world’s top economy. At the same time, the dollar held gains with traders scaling back bets on another bumper interest rate cut. Oil prices edged down as traders await Israel’s response to Iran’s missile barrage last week amid fears of a region-wide war in the Middle East. All three main indexes on Wall Street rallied […]

todayOctober 7, 2024 12

NEWS

Eurozone markets gain as investors bet on ECB stimulus

European stock markets climbed at the open on Monday, recovering slightly from heavy pre-weekend falls on US economic strains, as investors await an expected interest-rate cut from the European Central Bank. London’s FTSE 100 index climbed 0.6 per cent to 8,229.58 points. In the eurozone, the Paris CAC 40 index won 0.4 per cent to 7,380.88 points and Frankfurt’s DAX gained 0.4 per cent to 18,368.13. The European Central Bank […]

todaySeptember 9, 2024 9

NEWS

US data boosts Asian, European markets 

Asian and European markets rose Friday after a record day on Wall Street, boosted by a strong round of United State data that reassured investors over the health of the world’s top economy, while focus turns to the release of key inflation figures. With the much-hyped earnings report from bellwether chip titan, Nvidia, now in the rearview mirror, traders are once again able to concentrate on economic matters and the […]

todayAugust 30, 2024 6

NEWS

Smuggled Nigerian petrol floods W’African markets, sells N1,700/litre

The Federal Government, on Monday, raised the alarm over the renewed smuggling of Premium Motor Spirit, popularly called petrol, following the massive hike in the pump price of the commodity in neighbouring countries. It stated that while the average price of petrol in Nigeria was about N701/litre, the average cost of the product in neighbouring countries was N1,787/litre, a development that heightened PMS smuggling out of Nigeria in the past […]

todayJune 11, 2024 9

BUSINESS

Naira sells below 1,280/$ at official, parallel markets

The naira began the new month on a bullish note, appreciating to N1,278.58 against the United States dollar from N1,309.39 per dollar recorded last week Thursday. This indicates an increase of N30.81 at the close of trading activity. According to data from FMDQ Securities, the indicative exchange rate for the Nigerian Autonomous Foreign Exchange Market closing below the N1,300 ceiling marks the first instance since January 26 of this year. […]

todayApril 3, 2024 8 2

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