Author: Julius Alagbe

The South African Rand weakened across the board, trading lower against the US dollar, the Euro and the British pound, on Tuesday as gold, the country’s major export earner, came under pressure.

Johannesburg Stock Exchange (JSE) is set for a softer opening following a sluggish prior close, with Asian markets broadly lower and Tencent down 0.46%, offering a slightly negative read-through for Naspers and Prosus.

Ethereum (ETHUSD) declined by about 2% in 24 hours to $2,289.09, underperforming a slight market-wide pullback amid a broader crypto sell-off.

Ripple (XRP) price broke below $1.40 on Tuesday, underperforming the broader market dip and primarily driven by correlated selling pressure with Bitcoin.

Transcorp Power Posts N30bn Profit in Q1 2026 Transcorp Power Plc delivered about N30 billion profit after tax in the first quarter of 2026, details from the company’s unaudited financial statement revealed. The power-generating company’s earnings eased as sector-wide headwinds weighed heavily on its topline. Details showed that Transcorp Power’s revenue declined by 10.2% year on year, from ₦105.44 billion in Q1 2025 to ₦94.59 billion. Reflecting sector wide headwinds, the company reported that profit from operating activities fell from ₦44.54 billion to ₦36.53 billion. In its commentary note, CardinalStone Securities said the revenue shortfall was primarily operational in nature…

Bitcoin Dips as Clarity Act Stalls Over Trump’s Crypto Interest Bitcoin (BTC) price fell to $76,998.51 as the Clarity Act stalled amid the US President Donald Trump’s crypto-holding limit. The world’s largest digital asset price has reached $79k, but the attempt to cross the resistance was rejected. Trading volume picked up 120% on the day to $40 billion. The CLARITY Act, a flagship market structure and stablecoin bill, has been held up in the Senate Banking Committee since January, following initial fights over yield-bearing stablecoins. The main obstacle is now the ethics language that would restrict how Trump and other…

The Debt Management Office (DMO) increased rates on Nigerian government bonds across reopened 5- and 7-year papers, amid softer subscription levels.

The Nigerian naira weakened against the US dollar at the foreign exchange market (FX), extending previous losses due to liquidity shortage at the official currency market on Monday.

NGX Plunges, Investors Lose N1.37trn as Sentiment Shifts The Nigerian Exchange (NGX) All-share index and market capitalisation plunged on Monday as investor sentiment shifted from risk-on to risk-off. The local bourse experienced reversed trades across key stocks following a sharp rally that pushed many listed companies’ shares into the overbought zone. The NGX All-Share Index declining 0.94% to settle at 223,602.29 points, pulling the year-to-date return down to +43.69% and erasing ₦1.37 trillion from market capitalisation, which closed at ₦143.97 trillion. Stockbrokers said market breadth was negative at 0.9x, as 40 losers led by FIRSTHOLDCO, TRANSEXPR, UBA, ACCESSCORP, and FIDELITY…

XAUTUSD – Tether Gold Slides as Buying Sentiment Fades Tether Gold (XAUTUSD) slipped 0.77% to $4,668.61, underperforming a slightly negative broader crypto market. The move appears primarily driven by modest outflows in a risk-averse environment, with no clear coin-specific catalyst visible in the provided data. The token underperformed both a flat gold price and a slightly down crypto market. XAUt declined 0.77% while spot gold was virtually unchanged, and Bitcoin fell 0.30%. This underperformance suggests modest selling pressure, likely from investors reducing exposure during a risk-off session in which the total crypto market cap dipped 0.41%. Trading volume fell 6.24%,…