- US, European Markets Dip on AI Concerns, Elevated Energy Costs
- Crude Oil Prices Decline on Renewed US-Iran Negotiations
- U.S. Dollar Index Slips Ahead of Key Economic Data
- 10-Year U.S. Treasury Yield Hovers Below 5%
- Nigeria Money Market Braces for ₦800bn Treasury Bills Auction
- Excess Liquidity in Banking System Rises to N6.94trn, Rates Mixed
- Fitch Affirms Ireland at ‘AA’ Rating with Stable Outlook
- DMO Raises N2trn from Bonds to Fund Nigeria’s Budget Deficit
News
Global markets face sell pressure as fears over AI spending and rising energy costs dampen buying interest
The South African rand traded relatively stable against the US dollar, euro, and British pound as investors continue to assess developments surrounding the reopening of the Strait of Hormuz while digesting softer US inflation data.
The Nigerian naira extended its momentum against the US dollar in the official foreign exchange market, driven by robust FX liquidity and easing demand for international payments.
The Central Bank of Nigeria (CBN) turned down more than N2.4 trillion in investors’ money as total subscription at the open market operation topped N4.6 trillion, according to auction results reviewed by MarketForces Africa.
The Nigerian Exchange (NGX) key performance indicators headed south on Thursday, with selloffs in consumer goods and insurance names leading the decliners.
NAICOM Confirms 7 Additional Insurance Companies for Recapitalisation The National Insurance Commission (NAICOM) says seven…
Iran: No Progress on Deal with U.S. to Reopen Strait of Hormuz Iran says efforts…