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The Nigerian All-Share Index (ASI) wrapped up trading on December 5, 2024, on a slightly negative note, retreating by 60.88 points to close at 98,114.11. Despite maintaining its position just above the 98,000-threshold, the index recorded a modest decline of 0.06%, signaling a minor pullback even as market activity showed signs of life. In a notable turn, trading volume surged significantly, with a total of 722 million shares changing hands — a robust 38.52% increase compared to the previous session. Related Stories Market Wrap: All-Share Index climbs 472.43 points to 98,174.99 as GOLDBREW leads gainers, SUNUASSUR tops losers Market Wrap: All-Share Index gains 487.24 points as VITAFOAM leads gainers, PRESTIGE tops losers Market capitalization held steady at an impressive N59.4 trillion, buoyed by 8,495 individual transactions throughout the day. Among the day’s top performers, UPL led the charge with a 10.00% surge, closely followed by CORNERST, which also gained 10.00%. STERLINGNG rounded off the top three with a strong 9.98% increase. On the flip side, REDSTAREX led the losers, shedding 10.00% of its value, with FTNCOCOA following closely behind, dropping by 5.61%. In terms of trading activity, CHAMPION and FIDELITYBK emerged as the day’s most actively traded stocks, capturing the market’s attention with substantial volumes. Current ASI: 98,114.11 points Previous ASI: 98,174.99 points Day Change: +0.06% Year-to-Date Performance: +31.21% Volume Traded: 722.9 million shares Deals: 8,495 UPL: up 10.00% to N3.96 CORNERST: up 10.00% to N3.30 STERLINGNG: up 9.98% to N4.85 SUNUASSUR: up 9.98% to N4.63 GOLDBREW: up 9.84% to N4.91 REDSTAREX: down 10.00% to N4.41 FTNCOCOA: down 5.61% to N1.85 NPFMCRFBK: down 3.23% to N1.50 NEIMETH: down 2.78% to N2.10 PRESTIGE: down 2.50% to N0.78 On December 5, 2024, the Nigerian equities market experienced a significant uptick in trading activity, with volume rising by 38.52%. A total of 722 million shares exchanged hands, up from 521 million shares in the previous session. CHAMPION dominated the day’s trading, with a commanding 300.9 million shares traded, making it the most actively traded stock. FIDELITYBK followed with 48.5 million shares, while GTCO was not far behind, with 40.1 million shares changing hands. Other notable contributors included ACCESSCORP (35.6 million shares) and WAPCO, completing the top five with 29 million shares traded. Trading value: In terms of value, GTCO led the charge with a substantial N2.1 billion in transactions. WAPCO followed closely, with N2.0 billion in trade value, signaling continued investor interest. MTNN and CHAMPION also attracted significant attention, contributing N1.9 billion and N1.2 billion to the day’s total value, respectively. ACCESSCORP rounded out the top five with N858.8 million in transactions, further reflecting robust investor engagement in key stocks. Among the SWOOT stocks — those with market capitalizations exceeding N1 trillion — only ARADEL experienced a decline, shedding 1.48% during the session. Meanwhile, the FUGAZ group, which includes FBNH, UBA, GTCO, ACCESSCORP, and ZENITH BANK, saw positive price movements across the board. ACCESSCORP led the charge with a notable 1.84% increase, followed by GTCO with a modest 0.19% gain, and UBA with a slight uptick of 0.15%. On the other hand, FBNH saw a small dip of 0.38%, while ZENITH BANK experienced a more significant decline of 1.68%. If the positive momentum among individual stocks continues in the coming sessions, there is potential for the index to climb toward the 99,000 mark and surpass the N60 trillion market capitalization threshold. With bullish sentiment steadily building across multiple sectors and sustained investor interest, the Nigerian equities market is expected to maintain its upward trajectory in the near term.Copy link Copied Copy link Copied Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Already a subscriber? Login Retail billionaire Gerry Harvey, who is also an investor in property developments – including a stymied Fortis luxury apartment project in Sydney – says rising building costs will keep increasing in a market where new projects are already unviable. Rich Lister Mr Harvey said he was sitting on several sites that were in the “too hard basket” because soaring costs made them unprofitable. Copy link Copied Copy link Copied Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Already a subscriber? Login Introducing your Newsfeed Follow the topics, people and companies that matter to you. Latest In Residential Fetching latest articles Most Viewed In Property
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Ontario’s post-secondary minister says colleges and universities are “rebalancing” as they adjust to a drop in international students that has left a number warning of — or already planning — massive cutbacks. Speaking to reporters at Queen’s Park a day after to about 30 per cent to its programming and staffing, Colleges and Universities Minister Nolan Quinn said “there is a rebalancing that’s going to happen with the federal government’s unilateral decision, and there is going be some challenges because of (fewer) students who are going to be enrolled.” Quinn said the provincial government pledged an additional $1.3 billion to the sector earlier this year, over three years, to help deal with costs “to ensure that we get through the road ahead and make sure that they are stable with their financials.” The ministry, he added, is “constantly engaging with our stakeholders, all the institutions. We’re having conversations with them on a daily basis to truly understand their financial stability.” But Colleges Ontario said it “continues to be deeply concerned about the impact of the federal government’s changing policies on immigration and the adverse impacts on students, communities and local economies. We are working closely with the provincial government and Ontario’s universities to find meaningful ways to minimize this impact.” The province’s colleges and as they deal with rising costs, fewer international students and government funding that is among the lowest in the country, at a time when the provincial government also cut and then froze tuition fees. The province’s own expert panel had last year recommended increases of about $2.5 billion to the sector, but the government has provided about half that. The Council of Ontario Universities has warned that without more funding, some 100,000 students wanting to attend university may not have a spot by 2030. Schools have been relying on international students — who pay much higher tuition — to help fill the funding gap, but the federal government recently clamped down in light of their growing numbers, housing shortages, and ongoing questions about the quality of some public-private college programming. “At the end of the day, the roots of this crisis are the fact that we, in Ontario, are in last place for per-student funding for colleges and universities. We’re so far behind other provinces,” said NDP Leader Marit Stiles. Liberal Leader Bonnie Crombie said schools are in “crisis” and that the staffing and programming cuts are “devastating” for communities. Premier Doug Ford “ignored his own expert panel and refused to make serious investments in our colleges and universities earlier this year, this is exactly what we feared would happen,” added NDP post-secondary critic Peggy Sattler. “We need to protect them, not starve them of resources.” Quinn noted negotiations are underway for new “strategic mandate agreements” which set out performance expectations and funding for schools.McClain's 14 lead Texas Southern over Texas A&M-Kingsville 80-72