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Nigeria: Nigeria's Perfect Storm
April 22, 2020--Nigeria's economy has been dealt a blow, first by a collapse in the oil price, and then by rising costs to fight the spread of COVID-19. One of these crises alone would have been enough to derail 2020 growth, but both occurring simultaneously is devastating.
This couldn't have come at a worse time, with global growth facing its most fraught period since the 2007-8 financial crisis. The impacts will be far reaching and are ultimately interconnected.
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Source: allafrica.com
Local stocks firmer as inflation slows
April 22, 2020--The local bourse inched higher on Wednesday as global stocks took a breather following consecutive sessions of weakness.
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Source: FIN24
Nigeria:NSE-Market Indicators Resume Week With 0.01 Per Cent Loss
April 21, 2020--Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday with a marginal drop of 0.01 per cent.
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Source: FIN24
Stocks weaker as oil prices slump to multi-year lows
April 20, 2020--Global markets, including the JSE, slipped lower on Monday on the back of a slump in crude oil prices to multi-year lows.
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Source: FIN24
Nigeria Equities Market Improves Marginally By 0.07 Per Cent
April 17, 2020--Trading on the Nigerian Stock Exchange (NSE) remained upbeat on Thursday with the market indices improving marginally by 0.07 per cent.
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Source: allafrica.com
Local stocks buoyant on the back broad-based optimism
April 17, 2020--The JSE advanced on Friday on the back of strong gains across most global markets following a surge in US markets on Thursday.
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Source: FIN24
Initial gains wiped out by mixed global fortunes
April 16, 2020--Global sentiment continues to be main driver of direction on the JSE in the absence of local economic data
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Source: FIN24
An Unprecedented Threat to Development in Africa
April 15, 2020--Covid-19 threatens to exact a heavy human toll and the ensuing economic crisis risks reversing recent development gains.
The region's economy is set to shrink by 1.6 percent in 2020, and real per capita income to fall by even more--3.9 percent on average.
The most pressing priority is to increase health spending to save lives and implement social transfers to those whose livelihoods are being upended.
Support from international development partners will be critical to meet financing needs, including debt relief for the most vulnerable countries.
Macroeconomic policies should be used to protect vulnerable groups, mitigate economic losses, and support the recovery.
Sub-Saharan Africa is facing an unprecedented health and economic crisis, the International Monetary Fund (IMF) said today in its latest Regional Economic Outlook for Sub-Saharan Africa. The crisis threatens to reverse recent development progress across the region and may weigh on growth for years to come.
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Source: IMF
JSE bruised by US data missing estimates
April 15, 2020--Fears were ignited by a miss in earnings estimates by some of the major US banks causing major losses globally. The JSE Top-40 index eventually closed 3.32% weaker while the JSE All-Share index lost 3.43%.
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Source: FIN24
JSE bruised by US data missing estimates
April 15, 2020--Fears were ignited by a miss in earnings estimates by some of the major US banks causing major losses globally. The JSE Top-40 index eventually closed 3.32% weaker while the JSE All-Share index lost 3.43%.
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Source: FIN24
