Business
International Oil Price To Determine Market Performance – Operators
Some capital market opera
tors have said that developments in the international crude oil market would determine the performance of the nation’s bourse in 2015.
They told our correspondent in separate interviews in Lagos that the market volatility would persist if crude oil prices continued to fall at the global market.
The President, Association of Stockbroking Houses of Nigeria (ASHON), Mr Emeka Madubuike, said that crude oil price could be critical to the capital market performance in 2015.
Madubuike said that stock prices would continue to fluctuate with the persistent slump in the price of crude oil in the international market.
He said that the major players in the nation’s bourse were the foreign investors, stressing that the market would experience lull anytime the crude oil price fell.
The ASHON boss also said that the outcome of the 2015 general elections was also crucial for market growth and development.
Madubuike said that the market would experience stability if the elections were free and fair as uncertainties would be over.
“There will not be any serious economic activities until after the elections.”
Mr Ariyo Olushekun, the immediate past, President, Chartered Institute of Stockbrokers (CIS), called on the government to ensure free and fair elections for economic growth and development.
Olushekun said that free and fair elections would strengthen investor confidence in the nation’s economy, noting that, “investment decisions are based on perceptions.”
He said that equity had failed to attract investors due to political uncertainties and security challenges in the country.
Olushekun advised market regulators and operators to work together to restore investor confidence.
He said that trust should be the watchword of market regulators and operators, advising that “utterances which can threaten investor confidence should be avoided.”
“Recent experience in the market have shown that confidence is critical when it comes to investment and market regulators should be careful,” Olushekun said.
He advised that regulators should punish erring operators accordingly, but they should not make too much noise about such punishments to erode investor confidence.
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.