Morning Beats

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NCC stops MTN from acquiring Visafone
The Nigerian Communications Commission (NCC) yesterday halted moves by South African mobile giant MTN to acquire the only surviving Code Division Multiple Access (CDMA) operator, Visafone.The Nation
Taxes, other charges killing us, say telcos
Telecoms operators have lamented the crippling effect of multiple taxation, arbitrary charges and other challenges besetting the industry.The Nation
$1.4b cash coming for FMBN
The Federal Government plans to inject N500 billion ($1.4 billion) into its low-cost mortgage lender over the next five years in an effort to spur home ownership.The Nation
‘Uncertain time for equities over election risks’
Preparations for the 2019 general elections would have pronounced impact on the Nigerian equities market, Vetiva Research has said.The Nation
SEC assures foreign investors

The Securities and Exchange Commission (SEC) has assured foreign investors of the safety of their investments in the Nigerian capital Market.The Nation
Oil dips on OPEC output increase
Brent crude oil fell by more than one percent yesterday as investors prepar ed for the extra one million barrels per day (bpd) output increase the Organisation of Petroleum Exporting Countries (OPEC) and its partners including Russia agreed to bring to the market after their meeting on Staurday in Vienna, Austria.The Nation
Naira appreciates to N360.85/$ in I&E window
The Naira yesterday appreciated by 19 kobo to  N360.85 per dollar in the Investors and Exporters (I&E) window.Vanguard
Stock market ends six-day losing streak
The nation’s stock market closed on a positive note on Monday, for the first time in seven straight trading sessions.Punch

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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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