Wealth Wednesday

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

• President Tinubu inaugurates 15-man governing board for NEITI

• Naira slide pushes Dangote diesel to N1,100/litre

• Reps Stop Granting Consent To Divesting IOCs

• CBN Links FX Volatility To Seasonal Demands

• Foreign Reserves Increased by $520m in One Month to $32.6bn

• Ecobank Maintains Impressive Performance in Q1 2024, Declares N140.9bn Profit

• MPR: Access, GTCO, UBA Others’ Interest Income Up 121.3% to N1.64tn

Global

• S&P 500 to end 2024 around current levels after strong run: Reuters poll

• US says tariff increases on Chinese EVs, batteries and chips to start Aug. 1

• Russia denies wanting to redraw Baltic Sea border; Moscow’s tactical nuclear weapons drills send a warning to the West

• European markets lower as UK inflation misses estimate

• Hong Kong stocks lead slide in Asia-Pacific markets, Hang Seng down about 2%

• US Bonds Fall as Traders Look to Fed Minutes for Rate-Cut Clues

• Oil Pares Losses as US Supply Posts Smaller-Than-Expected Build

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Events

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Investment Tip of The Day

Regularly review and rebalance your investment portfolio to maintain your desired asset allocation and risk level. Over time, some investments may grow faster than others, causing your portfolio to drift from its original allocation. By periodically rebalancing—selling a portion of the overperforming assets and buying underperforming ones—you ensure that your portfolio remains aligned with your financial goals and risk tolerance. This disciplined approach helps you manage risk and potentially enhances long-term returns by consistently following a strategic investment plan.

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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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