Monday, December 18, 2017 12:18:03 AM- Nigerian Stock Exchange.

  Monday market round-up


Dec 5 (USA) - Stock markets in the USA hit new all time highs today as investors remained excited about the prospects of the Donald Trump Presidency come January.

Higher interest rates could be combined with stimulus according to some analysts. The President elect has already warned US Companies to refrain from shipping manufacturing abroad. 

The US Dollar strengthened after the 'no vote' in Italy left analysts perplexed about the future of the Euro zone but election results in Austria calmed the fears of a total meltdown and Euro recovered by the end of the day. 

In Nigeria the government announced plans to ban importation of any type of cars through land borders. 

The Naira weakened further against the US Dollar on the parallel market. Diesel prices rose to 205 per litre at the retail market which could boost stocks like MOBIL , TOTAL , FO , OANDO , CONOIL and MRS . The price of Diesel is expected to soar a lot higher in the coming weeks this December with one analyst expecting 215/litre before the close of this week. 

The stock market which rallied towards the end of last week just managed to gain by 0.01% in Lagos today suggesting that investors took profits as soon as they emerged. 

reporting for on Monday, Dec 5 2016 from Lagos, Nigeria

Readers's Opinion(0)

If you would like to post comments! Please log in.