South Africa’s Power Utility Giant announces a further load-shedding for January 2020, following the report that came in mid-afternoon on Monday 6th January 2020, as a warning to whom it may concern.
Several Eskom facilities breakdowns during the festive season and as a result, Eskom’s system is in a critical condition that warrants for a further stage 6 load shedding. This is an indication of a 6,000MW dropped from the grid to avoid the system becoming unstable.
According to the latest market performance data from the Nigeria Stock Exchange, investors went home smiling as at the end of the trading session for the week ended 3rd January 2020.
Tracking the various market, The NSE All-Share Index and Market Capitalization appreciated by 2.09% to close the week at 26,968.79 and N13.019 trillion respectively and also a year to date returns on 0.47%. The NSE 30 Index, NSE CG Index, NSE Premium Index, NSE Banking Index, and the NSE Insurance Index, all recorded a positive Year-to-Date return, except the Pension Index and the Main Board Index that recorded negative Year-to-Date Returns.
There is also an indication of an impressive both the volume and the value of trades, compare to the previous week; A total turnover of 2.309 billion shares worth N21.675 billion in 14,906 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 735.702 million shares valued at N7.132 billion that exchanged hands last week in 7,138 deals.
Following the recent development after the assassination of the Iranian General, Qassem Soleimani, who is the head of the elite Quds Force, and also a top Iraqi militia commander, Abu Mahdi al-Muhandis in a drone strike ordered by the US President Donald Trump last week; the price of spot gold rose to an all-time high during the early hours of today as markets open across Asia and Sub-Saharan Africa, according to the market data obtained, the price of the precious metal rose to a level last seeing almost 6 years ago. This represents a clear indication that investors are rushing to saver assets in a bid to avoid being caught up in the possible risk in the equity market, as speculations of an imminent war between Washington and Tehran.
Spot gold was up 1.2% at $1,547.19 an ounce as of 10.12 am GMT, having touched its highest since early September, when bullion scaled a multi-year peak of $1,557. US gold futures rose 1.4% to $1,549.70.