The Markets

LAGOS (Capital Markets in Africa) – PayPal is the largest digital platform that provides money transfer services. The fast-growing company remains one of the top stocks in today’s stock market. But is PayPal stock a buy in the current stock market rally? PayPal Stock Fundamental Analysis: A Strong Track Record PayPal boasts a consistent track record of earnings and sales growth, stretching back to at least 2010. In that year, it earned a mere 29…

LAGOS (Capital Markets in Africa) – Bitcoin was lower after surging on Wednesday to a new all-time high price above $52,000, while ether topped $1,900 for the first time, pushing toward the psychologically crucial $2,000 mark. “My sense is the technology has evolved and the regulations have evolved to the point where a number of people find it should be part of the portfolio, so that’s what’s driving the price up,” Rick Rieder, head of…

LAGOS (Capital Markets in Africa) — Nigerian regulators approved a coronavirus vaccine that was developed by AstraZeneca Plc and the University of Oxford for emergency use in the West African nation. “The Serum Institute of India Ltd. on Feb. 10 submitted a dossier on the Covishield vaccine, which it is producing under license from AstraZeneca, and it was found to be safe and well-tolerated in adults above 18 years of age, the National Agency for…

LAGOS (Capital Markets in Africa) — Nigeria’s Securities and Exchange Commission has suspended previously announced plans to regulate cryptocurrencies, until those dealing in them are able to open bank accounts in the West African nation. Last week, the Central Bank of Nigeria ordered financial institutions to close accounts dealing in cryptocurrencies, saying the transactions posed risks to the economy, but those measures are now on hold. “For the purpose of admittance into the SEC regulatory incubation…

LAGOS (Capital Markets in Africa) — Looking for the adrenaline rush of investing in Bitcoin but without the bother of crypto-exchanges and digital wallets? An exchange-traded fund might appeal, except an investor won’t find one tracking Bitcoin in the $5.8 trillion U.S. ETF universe — at least not yet. While exchange-traded crypto-tracking products exist in Europe, U.S. regulators have repeatedly batted down attempts to introduce them citing concerns about potential manipulation and thin liquidity. Yet…