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Nigeria: NSE-Market Capitalisation Rises N77bn, Amid Renewed Interest in Blue Chips
April 8, 2020--The Nigerian equities market maintained an upward trend on Wednesday with the market capitalisation growing further by N77 billion following renewed interest in high capitalised stocks.
The News Agency of Nigeria (NAN) reports that the market capitalisation which opened at N10.905 trillion rose by N77 billion or 0.71 per cent to close at N10.982 trillion.
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Source: allafrica.com
Nigeria Cuts 2020 Budget By Over N300bn
April 8, 2020--The Nigerian Government has cut the 2020 budget from N10.594 trillion to N10.276 trillion.
This is contained in the new budget proposal sent to the National Assembly by the federal government on Wednesday for consideration.
According to the new proposal, the budget cut became necessary in view of global economic realities as a result of the coronavirus pandemic.
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Source: allafrica.com
Local stocks weaker as volatility in Sasol persists
April 8, 2020--The JSE opened marginally softer on Wednesday but sunk deeper into losses as European counters traded under pressure.
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Source: FIN24
Stocks remain upbeat as virus cases decrease
April 7, 2020--The local bourse extended its gains on Tuesday in line with global stocks which advanced amid improved sentiment on the coronavirus.
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Source: fin24.com
Stocks rally on the back of lower coronavirus death rate
April 6, 2020--The JSE rallied along with other global markets on Monday on the back of positive sentiment that there were lower reported coronavirus related deaths over the weekend from the main hotspots.
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Source: FIN24
Flight to safe havens leaves rand floundering
April 6, 2020--The rand was among the worst performing emerging market currencies during Monday's session.
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Source: FIN24
EXPLAINER: Why you should care about the rand-dollar exchange rate
April 4, 2020--The rand has been breaking records this week. It breached the R19.00/$ mark on Friday following a further downgrade into junk status by ratings agency Fitch. Some analysts are warning that it could breach the R20/$ mark in the near term.
If you're wondering why you should care about the local unit's movements, with the help of the SA Reserve Bank, a few economists and trading analysts, we've got your questions covered.
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Source: FIN24
Rwanda's Economic Growth Projected At 5.1 Percent for 2020
April 4, 2020--The government and the International Monetary Fund (IMF) have revised Rwanda's economic growth projections for 2020 to 5.1 per cent in light of the effects of the novel coronavirus and its impact on the economy.
The economy grew by 9.4 per cent in 2019 and was initially projected to grow by 8 per cent in 2020 and 2021.
The novel coronavirus was not among the anticipated risks to growth for Rwanda just like elsewhere across the world.
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Source: allafrica.com
Rand's record-busting slump may not be over, options suggest
April 3, 2020--It's been pummeled by the risk sell-off sparked by the spread of the coronavirus, as well as a downgrade to junk by Moody's Investors Service last week.
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Source: FIN24
JSE wrap: Markets spurred on hopes of oil production cuts
April 2, 2020--Stocks in Europe and the USA traded mostly in the green as momentum picked up for stocks primarily on the back of a report that Donald Trump would announce oil production cuts which could help boost oil prices
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Source: FIN24