Stock market gains N41bn as trading volume jumps 95%

The market capitalisation of equities in the Nigerian Exchange Limited rose by N41.06bn on Thursday as investors’ trading volume jumped by 94.79 per cent.

The NGX All-Share index appreciated by 0.19 per cent from 41,051.19 basis points to close at N41,129.98bps on Wednesday, while the market cap increased from N21.39tn to N21.43tn.

The volume of shares traded on the floor of the exchange rose to 908.06 million shares worth N10.97tn in 5,151 deals from 466.17 million valued at N4.47bn in 4,704 deals the previous day.

Analysing by sectors, the NGX Industrial and NGX Consumer Goods indices

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Nigerian fintech companies shame, threaten customers for late payment of loans

YETUNDE Adewole lost her phone in June. She got a replacement weeks later, including a new SIM card and everything went back to normal.

She didn’t give a thought to the missing phone or the SIM card until rumours started flying around in July.

Yetunde owed money. An online loan fintech company was sending WhatsApp and text messages to everyone in Yetunde’s inner circle that she was a debtor and fraudster.

Her close friends, former schoolmates, and work colleagues received these messages, three or four times daily.


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NITDA imposes N10 million fine on Soko Loan for data privacy

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EXCLUSIVE U.S. SEC opens inquiry into Wall Street banks’ staff communications -sources

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WASHINGTON, Oct 12 (Reuters) – The U.S. Securities and Exchange Commission (SEC) has opened a broad inquiry into how Wall Street banks are keeping track of employees’ digital communications, three people familiar with the matter told Reuters.

SEC enforcement staff contacted multiple banks in recent weeks to check whether they have

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Expert Warns of 30% Drop After Tapering Starts

  • Stocks face mounting opposition as fears of stagflation build, Lance Roberts said.
  • Roberts is warning about a potential a 30% pullback ahead. 
  • He said Fed tapering would likely be the cause. 

After the stock market’s first 5% pullback in about a year, Lance Roberts likes the outlook in the near term.

But beyond a few months, things are looking bleak, the RIA Advisors chief strategist said in an October 12 note and reiterated in a call with Insider on Friday. 

He cited a number of indicators. 

From an economic standpoint, growth rates have peaked and the outlook is lackluster ahead

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Arteta asked if Gabriel Martinelli could leave Arsenal on loan in January

Mikel Arteta has claimed that he has no interest in letting Gabriel Martinelli leave Arsenal on loan in the January transfer window – in comments reported by Football London.

It has been a tough start to the campaign for the 20-year-old. He started both of their opening two Premier League games this season.

Photo by David Price/Arsenal FC via Getty Images

However, since then, he has been an unused substitute in Arsenal’s last five fixtures. And it does appear that there are concerns about his development stagnating.

It would seem that a potential loan move has been mooted. For

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US STOCKS-Wall Street rises on Big Tech strength

* Energy, material stocks boosted by commodity rally

* Southwest falls on canceling many flights

* Big banks set to start reporting from Wednesday

* Indexes up: Dow 0.43%, S&P 0.40%, Nasdaq 0.43% (Updates prices to open)

By Shreyashi Sanyal and Devik Jain

Oct 11 (Reuters) – U.S. stock indexes rose on Monday as growth stocks gained, shrugging off inflation worries in the run up to third-quarter earnings reports from later this week.

Mega-caps Apple Inc, Tesla Inc and Microsoft Corp rose between 0.6% and 1%, with eight of the 11 major S&P 500 sector indexes trading higher.

Energy and

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Why is Citi helping big tech storm Wall Street?

Alphabet Inc.’s deeper dive into the U.S. financial system shouldn’t come as much of a surprise. Technology giants have found a way into all corners of people’s lives; the latest plan to offer consumers new forms of bank accounts is simply one of the final frontiers.

The puzzling part of Alphabet’s expansion of Google Pay is why Citigroup Inc. is a willing participant in Silicon Valley’s invasion of Wall Street’s turf.

Last week, Bloomberg News and others reported that Citigroup and a California credit union were Alphabet’s initial partners for a venture that would offer checking accounts through Google Pay.

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Stock Market Today: Dow Rose Amid Earnings Optimism

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Earnings season is off to a good start.


Angela Weiss/AFP via Getty Images

The stock market rose on Friday, as earnings continued to impress and retail sales data beat expectations.

The


Dow Jones Industrial Average

gained 382 points, or 1.1%, one day after the benchmark climbed 534 points. The


S&P 500

and


Nasdaq Composite

advanced 0.8% and 0.5%, respectively.

“Right on schedule, stocks are rising on the strength of early earning results,” writes Louis Navellier, founder of Navellier & Associates. 

Companies on the S&P 500 have been beating earnings estimates by a decent clip this earnings season. Third-quarter

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Buhari sets aside N600bn loan for 2.4m farmers

The Federal Government says it has through the Agro-Processing Productivity Enhancement and Livelihood Improvement Support project (APPEALS), set aside N600 billion as loans to support 2.4 million farmers across the country.

President Muhammadu Buhari disclosed this at the opening of the National Agricultural Show/Exhibition of the 2021 World Food Day on Wednesday, in Abuja.

The theme of the 2021 edition of the Agricultural Show is: “Our Actions are our Future. Better production, better nutrition, a better environment and a better life”.

Buhari, who was represented by the Minister of Agriculture and Rural Development, Dr  Mohammed Abubakar, said his administration was

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