Coronavirus
COVID-19 outweighs stimulus package on global financial market
The market was brought to its knees as coronavirus pandemic outweighed a $2 trillion U.S. stimulus package passed by the American Senate yesterday.
The major news discussed among most equity investors across the world now should be the increasing spread of Coronavirus. The pandemic state and uncertainties surrounding the killer disease pulled the world equity markets on Thursday.
The market was brought to its knees as coronavirus pandemic outweighed a $2 trillion U.S. stimulus package passed by the American Senate yesterday.
In Europe, U.K.’s FTSE index was trading 2.0% lower; France’s CAC 40 was down 1.6%, while the DAX fell 1.2%, all of them paring early losses. The broader based Stoxx 600 Europe index dropped 1.0%.
The mood was worsened by plunging consumer morale in Germany and data showing poor retail sales in Britain last month, even before the virus struck.
It followed a mixed session in Asia, where MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7% but regional performances varied.
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The Nikkei snapped three days of gains with a 4% drop, while Australia’s benchmark rose for a third day -its longest winning streak in six weeks.
Yesterday’s trading session in America saw stocks unable to sustain strong gains from the previous session as fears about the economic toll of the COVID-19 pandemic overshadowed optimism from sweeping fiscal and monetary stimulus to aid businesses and household
The Dow Jones Industrial Average was up 554.45 points, or 2.68%, at 21,259.36, the S&P 500 was up 21.59 points, or 0.88%, at 2,468.92 and the Nasdaq Composite was up 1.03 points, or 0.01%, at 7,418.89s.
In commodities, Oil headed lower on Thursday, still under pressure as the coronavirus pandemic (COVID-19) continues to slow economic growth, the latest blow to which came in the shape of India announcing a three-week lockdown earlier this week.’
As at the time of this report, the U.S. crude futures traded 3.4% plunged to $23.98 a barrel. The international benchmark Brent contract dropped 1.6% to $26.96.
READ MORE: COVID-19: FG on the trail of 4,370 cases
Elsewhere, gold futures fell 0.8% to $1,620.95 per ounce as investors remained on the sidelines.
In cryptocurrencies, Ethereum fell below the $135.10 level on Thursday. Ethereum was trading at 135.10 ,8.20am Nigerian local time, down 2.58% today.
It was the largest one-day percentage loss since March 22, while Bitcoin was last at $6,620.5, down 1.07% on the day. XRP was trading at $0.16089, a drop of 0.86%.
Coronavirus
COVID-19 Update in Nigeria
On the 30th of October 2020, 170 new confirmed cases and 3 deaths were recorded in Nigeria
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 62,691 confirmed cases.
On the 30th of October 2020, 170 new confirmed cases and 3 deaths were recorded in Nigeria, having carried out a total daily test of 3,008 samples across the country.
To date, 62,521 cases have been confirmed, 58,249 cases have been discharged and 1,141 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 620,758 tests have been carried out as of October 30th, 2020 compared to 617,750 tests a day earlier.
COVID-19 Case Updates- 30th October 2020,
- Total Number of Cases – 62,691
- Total Number Discharged – 58,430
- Total Deaths – 1,144
- Total Tests Carried out – 620,758
According to the NCDC, the 170 new cases were reported from 11 states- Lagos (106), FCT (25), Oyo (14), Edo (7), Kaduna (7), Ogun (4), Bauchi (2), Benue (2), Kano (1), Osun (1), Rivers (1)
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 21,212, followed by Abuja (6,053), Plateau (3,630), Oyo (3,447), Rivers (2,810), Edo (2,664), Kaduna (2,648), Ogun (2,031), Delta (1,814), Kano (1,747), Ondo (1,666), Enugu (1,314), Kwara (1,069), Ebonyi (1,049), Katsina (952), Osun (926), Abia (898), Gombe (883). Borno (745), and Bauchi (713).
Imo State has recorded 616 cases, Benue (493), Nasarawa (482), Bayelsa (412), Ekiti (332), Jigawa (325), Akwa Ibom (295), Anambra (277), Niger (274), Adamawa (257), Sokoto (165), Taraba (146), Kebbi (93), Cross River (87), Yobe (82), Zamfara (79), while Kogi state has recorded 5 cases only.
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Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.
On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.
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Coronavirus
Cristiano Ronaldo now tests negative for Coronavirus
Cristiano Ronaldo tested negative for coronavirus after nearly three weeks that he tested positive.
Juventus F.C. star, Cristiano Ronaldo, has tested negative for coronavirus, nearly three weeks after he tested positive.
This was disclosed by his club via its website on Friday.
It stated, “Ronaldo carried out a check with a diagnostic test (swab) for COVID-19. The exam provided a negative result.
“The player has, therefore, recovered after 19 days and is no longer subjected to home isolation.”
What you should know
Ronaldo had tested positive for COVID-19 on October 13, while playing with Portugal. He had been in self-isolation since returning to Italy.
The 35-year-old missed four games including Wednesday’s 2-0 Champions League defeat to Lionel Messi’s Barcelona, and Juventus’s 2-0 win at Dynamo Kiev in their Group G opener.
The five-time Ballon d’Or winner’s return will be a boost for Andrea Pirlo’s faltering side who are fifth in Serie A, four points behind leaders AC Milan.
Coronavirus
FG warns Nigerians about on-going N3million COVID-19 grant scam
FG has warned Nigerians to beware of scammers using phishing links to defraud unsuspecting members of the public.
The Federal Government has issued a warning to Nigerians about an ongoing N3million COVID-19 scam in circulation.
This was disclosed by the Federal Ministry of Finance, Budget and National Planning via its Twitter handle.
According to the government, the scam targets Nigerians looking to benefit from the Federal Government assistance to businesses affected by COVID-19.
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In the tweet, it warned about some phishing links being shared on social media, requesting for applications for N3 Million FG Grants.
It tweeted, “The general public should note that these phishing links are generated by Scammers and intended to defraud unsuspecting Nigerians.
“Government requests for applications are only via official channels & websites.
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“It has come to our attention that a link is being shared via social media requesting for applications for a FG N3 Million grant.
“The general public should note that this is a SCAM. Any requests for applications are only via official channels & websites. Pls beware! #FinMinNigeria.”
It has come to our attention that a link is being shared via social media requesting for applications for a FG 3 Million grant. The general public should note that this is a SCAM. Any requests for applications are only via official channels & websites. Pls beware! #FinMinNigeria pic.twitter.com/C0Z2EcUbQF
— Ministry of Finance, Budget and National Planning (@FinMinNigeria) October 27, 2020
What they are saying
Okebunmi Omolaja, has tasked the Federal Government to take its warning further from the social media to other publicity tools in order to spread the information across Nigeria.
He said, “The Ministry can help by carrying the awareness campaigns to States radio stations or federal officers in each States to meet the CDA Leaders of their traditional rulers palaces/govt schools premises.”
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The Ministry can help by carrying the awareness campaigns to States radio stations or federal officers in each States to meet the CDA Leaders of their traditional rulers palaces/govt schools premises.
— okebunmi omolaja (@Okebunmilajman) October 28, 2020
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