Morning Beats

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Samsung Launches Two New Smartphones Galaxy S9 & S9+
Samsung Electronics Co., Ltd. on Friday introduced Samsung Galaxy S9 and S9+ smartphones in Nigeria in the bid to re-imagine the way people communicate, share and experience the world.The Nation
NDIC cautions Nigerians against transactions in digital currencies
The Nigeria Deposit Insurance Corporation ( NDIC ) says transactions in digital currencies are not authorised by the Central Bank of Nigeria ( CBN ), cautioning Nigerias against transacting business in bitcoin and other crypto currencies.The Nation
Local farmers have a lot to benefit from rubber cultivation, production – Awolowo
Efforts of the Edo State Government to grow her rubber stock and boost her non-oil receipts with the 2,500-hectare rubber plantation in Urhonigbe, in Orhionmwon Local Government Area and other agricultural initiatives, have received the support of the Federal Government.Vanguard
US import of Nigerian oil hits five-year high
The import of Nigerian crude oil by the United States rose by 48 per cent to 112.92 million barrels last year, the highest annual level in five years.Punch
CBN injects $340m into forex market
The Central Bank of Nigeria on Friday sustained its intervention in the foreign exchange market by injecting the sum of $339.89m into the Retail Secondary Market Intervention Sales.Punch
FG records N8.9tn revenue inflow into TSA
Since the introduction of the Treasury Single Account in September 2015, a total inflow of N8.9tn from Ministries, Departments and Agencies of government has been recorded by the Federal Government.Punch
South Africa Dodges Third Junk Rating as Moody's Lifts Outlook
South Africa escaped a third junk rating as Moody’s Investors Service kept its assessment of the nation’s debt unchanged, citing more transparent and predictable policies under President Cyril Ramaphosa.Bloomberg
A Horror Week for the Dow Has Investors Begging for Trump Respite
Spring has sprung -- just not in U.S. stocks, where a harrowing week has walloped traders with echoes of February’s correction.Bloomberg
Relief as Moody’s gives SA another chance
SA gets another stay of execution, hovering one notch above junk, but with the outlook upgraded to stable — signalling cautious optimism about turnaround plansBusiness Daily


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Nigerian Stock Exchange This Week

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The Market returned to its five days trading after the sallah break of last week. It wasn't a great week for the Market even as it climax the end of trading for the month of August.  The Market opened on a negative notes on Monday, however, made a bold return on Tuesday but to frizzle out for the rest of the week with a three days consecutive losses.  The All Share index lost in what seems to be the bear dominated week. The index was down  1.63% to close the week at 34,848.45. This brought the year to date return of the ASI to (8.88%) on the negative side of the number line. The bull had a larger share of the Market though, with a breadth of 3 in favour of the Bulls. However this is little to little to reflect on the overall Market as highly capitalized stocks shed weight.  EQUITY A total turnover of 1.533 billion shares worth N23.026 billion in 17,009 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 968.947 million shares
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