Trading Tuesday

Ranora Daily - Your daily source for reliable market analysis and news.

Data

Local

Global

*Data as of 4pm WAT

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News

Local

• Results for the FGN Bond Auction - 19 August 2024:

  

• Oil producers reject mandate to sell crude to local refineries

• Nigeria owes NNPC $4.9bn fuel debt

• Equity market loses N1.6tn in six days

• Afreximbank revenue hits $1.47bn

• CBN Reports High Remittance Inflows Of $553m For July 2024

Global

• Blinken in Egypt seeking progress towards Gaza ceasefire deal

• Russia hits energy infrastructure in airstrikes on Ukraine

• Biden hails Harris as DNC's future in emotional farewell speech

• Germany seizes almost $28 mln in cash in crypto ATM sting

• Copper miners, energy stocks pull FTSE 100 lower

• Dollar slumps ahead of payrolls revisions, Powell speech

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Events

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Investment Tip of The Day

Floating rate bonds as a hedge against rising interest rates. With ongoing inflation and potential interest rate hikes, floating rate bonds, which adjust their interest payments based on a reference rate, can provide protection and income stability in a volatile market. This strategy is particularly relevant now, as traditional fixed-income investments may underperform in a rising rate environment, making floating rate bonds a compelling alternative

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Disclaimer: The information contained in this report is intended for informational purposes only and should not be considered as investment advice. The information is obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed.

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