Arsenal stay fourth after Crystal Palace draw

Arsenal failed to climb back up to third in the Premier League by managing only a 1-1 draw at home to Crystal Palace in a Premier League match at the Emirates. It took Arsenal, who enjoyed over three-quarters of possession in the first half, 38 minutes to really go close when an Alexis Sanchez free kick took a slight deflection off the Palace wall to drop just wide. Mesut Ozil was then denied by Wayne Hennessey as the dominant Gunners finally mustered a shot on target, while down the other…

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Benchmark index up 0.38%

Investors in the nation’s capital market got respite at the weekend as the NSE All-Share Index and market capitalisation closed the week on the green territory, appreciating by 0.38 per cent to close at 23,916.15 and N8.225 trillion respectively. Similarly, all other Indices finished higher the previous week, with the exception of the NSE Insurance Index, NSE Consumer Goods Index and NSE Industrial Goods Index that declined by -1.60 per cent,-0.44 per cent and -1.47 per cent respectively, while NSE ASeM Index closed flat. A turnover of 1.133 billion shares…

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Stock market nose-dives as profit taking persists

The Nigerian stock market lowered its momentum from the previous week. After recording a significant rise of 3.30 per cent growth, the market tempo retreated last week, dropping by 0.16 per cent. This was due to profit-taking by investors in the wake of the cautious optimism that had prevailed in the market in the last three weeks. Reports of the growing attraction of the Nigerian market to foreign portfolio investors has seen the market oscillating as bargain-hunters and profittakers jostle to take positions. The gain recorded the previous week was…

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Insecurity may erode N1trn NSE target -Brokers

If the spate of violence in some parts of the country are not tackled frontally, the projection of the Nigerian Stock Exchange to grow market capitalisation to $1trillion (N150 trillion) in 2006, might be a mirage. This was the consensus of experts that spoke with New Telegraph Lagos. Specifically, they noted that when people feel insecure, their appetite to invest, to buy or rent from the product of investment reduces. Moreover, they insist that that is why all over the world, any country that radiates an environment of insecurity naturally…

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Operators to regulators: Expedite action on demutualisation

Market operators have called on the Securities and Exchange Commission (SEC) and the Nigeria Stock Exchange (NSE) to speed up the process of demutaualisation of stock exchange. The operators, who spoke to New Telegraph, said demutualisation will increase the presence of local investors in the stock market. They condemned overdependence on foreign investors in the activities of the nation’s capital market. Demutualisation is the process of converting exchanges from non-profit, member-owned organisations for-profit, investorowned corporations. In demutualisation, the members give up their rights and receive shares of the company in…

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