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Instablog9ja
26 m
11
The Naira gained N28.34 at the official market, trading at N1,468.99 to the dollar.
Data from the Financial Market Dealers Quotation (FMDQ) Exchange, on Monday, May 20, 2024, revealed that the gain represented a 1.89 per cent appreciation for the Naira.
The percentage increase is impressive when compared to the previous trading date on Friday, May 17, 2024 when the local currency traded at N1,497.33 to the dollar.
Also, the volume of currency traded appreciated as the total daily turnover increased to 161.41 million dollars on Monday up from 83.50 million dollars recorded on Friday.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,550 and N1,400 against the dollar.
Instablog9ja
2 hrs
9
The Oba of Benin, Oba Ewuare II, has accused the Economic and Financial Crimes Commission (EFCC), of allegedly aiding crimes.
The monarch made the allegations when he received the new Benin Zonal Director of EFCC, Effa Okim in his Palace in Benin on Monday, May 20.
According to a statement by his Chief Press Secretary, Osaigbovo Ighobaro, the monarch cited a particular criminal case involving unnamed former palace officials who were arrested for alleged fr@ud and handed over to EFCC in Benin for investigation and prosecution.
The Oba alleged that some EFCC operatives allegedly handled the case with kid gloves, which led to the release of the culprits a few years ago.
The monarch, who did not name the palace officials, expressed shock that the EFCC investigators allegedly swept glaring evidence of fr@ud against them (the palace officials) under the carpet.
“We want to draw your attention to one or two grey areas in your operations.
No matter how much you try to support the EFFC from the palace, It is very difficult because they seem to listen to other parties. What I have been told is that they take instructions from the highest bidder.
You know that I have been known for speaking the truth. I was not happy about certain things that happened with your predecessor.
We get news from everywhere. We try to assist the EFCC. I even wrote a letter to the then-chairman who was removed from office.
I even sent an emissary to talk to him regarding certain elements in Edo State, particularly the palace.
How can EFCC operatives, especially, the lady who handled the case I cited earlier behave like that? If I was asked to comment on her performance, I would score her zero. I do not know if she was doing an EFCC job or just dancing to the tunes of people who were giving her money.
At the time we were trying to assist EFCC, the report we kept getting was negative and I was not happy about it,” Oba Ewuare II Oba said.
Healthwatch
4 hrs
18
A simple word we all hear often — exercise — makes many people cringe. Unhappy childhood memories of school sports or gym classes, flat-out physical discomfort, guilty reluctance, or trouble finding time or pleasurable activities may help explain this. Additionally, for some people with obesity, fear of falling or injury is a high barrier to activity, recent research suggests.
That finding has important implications for health and well-being. So, how can we make movement safe and joyful for people of all weights?
Why be active?
As you may know, being physically active helps combat anxiety and depression. It prevents bone from thinning and tones muscle, helps you sleep better, lowers your blood pressure and blood sugar, and improves your cholesterol levels. It would take numerous medications to do all that routine physical activity can do for you.
Weight loss programs often incorporate exercise. Research shows that exercise helps with weight maintenance and may help with weight loss. Beyond burning calories, regular exercise also builds muscle mass. This matters because muscles are metabolically active, releasing proteins that play a role in decreasing appetite and food intake.
What does this study tell us?
The study found that many people with obesity fear injury and falling, which interferes with willingness to exercise. It followed 292 participants enrolled in an eight-week medical weight loss program in Sydney, Australia. All met criteria for obesity or severe obesity. The average age was 49; one-third of participants were male and two-thirds were female.
At the beginning of the study, participants filled out a 12-question injury perception survey. The majority reported fear of injury or falling, and believed their weight made injury more likely to occur. One-third said that their fear stopped them from exercising. The researchers also recorded weight, height, and waist circumference, and administered strength tests during the first, fourth, and last sessions.
When the study ended, the researchers found that the participants most concerned about getting injured hadn't lost as much weight as those who did not express this fear. Those who hadn't lost as much weight also tended to have the highest scores of depression, anxiety, and sleepiness.
Fear of injury fuels a dangerous cycle
As noted, exercise is healthy at every weight: it protects your heart, lowers your blood sugar, boosts your mood, and tamps down anxiety. It also builds balance. Weight-bearing exercise such as walking prevents bone thinning.
If worries about injury or falls cause people to avoid exercise, they miss out on the balance-building, muscle-and-bone-strengthening, and mood-enhancing benefits of regular activity. They may be more likely to fall — and possibly more likely to experience fractures if they do.
Find a blend of activities that will work for you
Everyone, at every weight, needs to find ways to exercise safely, confidently, and joyfully.
Lastly, keep in mind that many people suffer from anxiety, and a fear of falling is not insurmountable. If you're really struggling, talk to your doctor or a mental health professional.
Source: Harvard Health Publishing
Investopedia
6 hrs
10
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Nvidia (NVDA) shares gained in intraday trading Monday ahead of the chipmaker's highly anticipated first-quarter earnings report due after the bell on Wednesday.
Analysts lifted their estimates ahead of Wednesday's report, though some raised concerns that investors' expectations of the chipmaker could be even higher, potentially leading to a big move in Nvidia's stock price after the company's earnings announcement.
Nvidia shares were up 2.4% to $947.10 around 1:40 p.m. ET Monday, and have nearly doubled in value since the start of the year.
Ahead of Nvidia's earnings announcement Wednesday, analysts lifted their expectations of the chipmaker, according to consensus estimates compiled by Visible Alpha. Analysts indicated they now anticipate Nvidia's revenue to come in at $24.74 billion, while net income is seen at $12.91 billion or $5.19 per share, with all three figures up slightly from last week's projections.
Higher expectations for Nvidia's results have led some analysts to raise their price targets for the stock as well, with Barclays analysts on Monday bumping their price target for the stock to $1,100 from $850, saying their checks suggest an upside of more than $1 billion for the first quarter and a $2 billion upside in the July quarter.
Stifel analysts also increased their price objective to $1,085 from $910, calling the chipmaker a “top pick relative to the AI infrastructure investment theme.”
Bank of America analysts reported that based on talks with investors, "expectations seem well-above consensus estimates as usual."
They said bullish investors expect first-quarter revenue of $26 billion, ahead of analysts' estimates, and for guidance to be close to $28 billion for the July quarter. In comparison, consensus estimates compiled by Visible Alpha show analysts project second-quarter revenue of $26.96 billion.
Given investors' high expectations, analysts raised concerns that an earnings beat alone might not be enough to impress investors. "Even if NVDA were to potentially deliver on these bullish expectations, the stock could still react unfavorably," Bank of America analysts wrote.
Susquehanna analysts indicated that while they expect "another strong report" from the chipmaker, they noted due to "elevated expectations as the sell-side has ratcheted July/2024 estimates," Nvidia could need "at least a $1.5B beat" for a muted reaction.
Pricing in the options market suggests traders are expecting shares could move around 10% in either direction.
Significant movement before and after an earnings report has been the norm for Nvidia in recent quarters. Nvidia shares had dropped ahead of the company's earnings report in February, and gained more than 9% in extended trading after results beat estimates. The earnings announcement sent Nvidia's market capitalization above $2 trillion in the following days.
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Investopedia
8 hrs
9
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Several of Canada's largest banks report earnings over the rest of the month, with Toronto-Dominion Bank (TD) opening the cycle Thursday, followed by others including Bank of Montreal (BMO), Bank of Nova Scotia (BNS), Canadian Imperial Bank of Commerce (CM), and Royal Bank of Canada (RY).
In a note last Friday, Bank of America Securities analysts maintained "buy" ratings on the stocks of Bank of Montreal and Royal Bank of Canada (RBC), with "neutral" ratings on TD, Bank of Nova Scotia, and Canadian Imperial Bank of Commerce.
The analysts wrote that macroeconomic conditions are leading many investors to remain cautious toward bank stocks, given an uncertain inflationary and interest rate environment in the U.S. and elsewhere.
As with the earnings of a number of the biggest U.S. banks last month, the Federal Reserve's decision to postpone rate cuts until inflation reaches the central bank's preferred level could cause some uncertainty for this month's Canadian earnings reports, as well as projections for the rest of 2024.
"The market’s expectations for interest rate cuts have evolved significantly," Canadian Imperial Bank of Commerce (CIBC) analysts wrote in a note last Thursday. "A higher-for-longer scenario has become a higher-probability scenario, particularly in the U.S."
"On April 30, the market was pricing in 0-1 rate cuts in the U.S. by the September meeting, while expectations in Canada still hovered around 1-2 rate cuts. We have revised our NIM (net interest margin) assumptions, particularly for F2025, to assume fewer rate cuts," the CIBC analysts said.
Another hurdle the CIBC and Bank of America analysts wrote about is the rise in credit card balances, which has been accompanied by higher delinquency rates. Recent data revealed that a growing number of people are carrying more credit card debt than any time since 2011.
In Canada, CIBC analysts noted that recent research shows renters hold 60% of all outstanding non-mortgage debt, but represent "close to 85% of serious delinquencies," suggesting that those who own a home are more likely to be in a relatively secure financial position.
The Bank of America analysts noted multiple acquisitions that some of the Canadian banks have made recently will be a focus for investors, as the institutions could provide updates along with their earnings reports on the integration process along with other timing details for when systems will be merged.
The analysts noted that RBC is likely to provide new information on its acquisition of HSBC Bank Canada, which was completed March 28, in terms of an overall timeline for when the combination of the banks' systems will be complete, and when HSBC will start adding to RBC's financial performance.
At least one bank in the group, TD, also has another layer of regulatory concern that investors will be watching for more detail.
Earlier this month, reported that a U.S. Justice Department probe into whether the anti-money laundering (AML) practices of multiple banks, including TD, may have failed to prevent laundering in multiple instances, including with money related to illegal drug sales in the U.S.
TD previously disclosed that it was a subject of probes into its anti-money laundering policies, but not that any of the probes involved drug money. Investors likely will be seeking more information on how long the investigations will take to resolve, as well as what impact they could have on TD's business.
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Investopedia
9 hrs
14
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London-listed Keywords Studios surged 60% in intraday trading Monday after the video game maker said it was "in advanced discussions" to be acquired by private equity firm EQT for 25.50 British pounds per share.
The potential takeover would value the company at GBP2.03 billion ($2.58 billion), according to , and would mark the latest loss to the London Stock Exchange of a key company. British chip designer Arm Holdings (ARM) left the London bourse and began trading on the Nasdaq last September, and its American depositary receipts (ADRs) have nearly doubled since.
This follows "four previous unsolicited proposals from EQT in recent months, which the Board rejected, and represents a significant increase from the initial proposal," Keywords Studios said.
The possible offer translates to a premium of 73% over Keywords' closing share price of GBP14.70 on Friday.
Keywords said its board would recommend the EQT bid if a firm offer is announced. Under British law, EQT has until June 15 to either make a firm offer or walk away, the statement said.
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