| Nigeria: Expert Advises Investors on Stocks' Trading
An investment analyst, Mr Oluwasanmi Akindipe, has urged Nigerians to take full advantage of the growing capital market by engaging in penny stocks acquisition or trading. At a seminar on "Secrets of Making Mega Bucks via Penny Stocks and Shares," Akindipe, who defined Penny Stocks as stocks that sell from N5 and below, said it is possible to become a mega millionaire trading in penny stocks, adding that, penny stocks can also be called minor stocks, mini-stocks, small cap stocks or low-priced stock, which though small, but mighty. .
Energy prices hit more record highs
NEW YORK - The rise in energy prices gained momentum yesterday, with retail gasoline prices increasing further into record territory and diesel and heating-oil futures setting records of their own amid concerns about strong global demand and tight supplies. Crude-oil prices fell modestly as a sharp downturn in the stock market and worries about the economy prompted some profit-taking. But with the Federal Reserve expected to cut interest rates again next week, analysts expect the dollar to weaken further, propelling crude to new heights. At the pump, gasoline prices set records for the fourth straight day, rising 1.3 cents yesterday to a national average price of $3.28 a gallon, according to AAA and the Oil Price Information Service. Average prices are nearing $4 in some parts of Hawaii. In Philadelphia, the average pump price rose a penny yesterday, to $3.21 a gallon.
Market closes sluggish week bearishly
HA NOI � The stock market ended the final session of the week with another substantial plunge, with the VN-Index shedding 19.14 points, or 3.39 per cent, to close at 545.68. Value of the day�s trades was up slightly from Thursday�s sluggish session, reaching VND533.25 billion (US$33.3 million) yesterday on a volume of 11.75 million shares. Turnover reflected a 23-per-cent drop from last Friday�s session, however. Advancers yesterday were mostly penny stocks, such as Binh Trieu Construction and Engineering (BTC), up 4.67 per cent to VND60,000; HCM City Metal Corporation (HMC); rising 3.88 per cent to VND21,400; and Sai Gon Fishing Net (SFN), advancing 1.75 per cent to VND17,500. Some blue chips which have shown strength this week fell back yesterday, including Hau Giang Pharmaceuticals (DHG), which slipped 2.98 per cent to VND163,000; and Kinh Do Co (KDC), which dropped 4.91 per cent to VND122,000.
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