Nigeria’s stocks among world’s best-performers in 4 months – Bloomberg

JANUARY 29, 2018


Nigeria’s stocks have been among the world’s best-performers in the past four months, and foreign investors are a big reason for that, Bloomberg reported on Monday. The New York-based financial software, data, and media company, said net foreign inflows to Nigerian equities totaled 337 billion naira ($940 million) last year, the first time flows have been positive since at least 2013. It said December 2017 was the best month since Bloomberg started compiling data at the beginning of 2014, with net inflows of 140 billion naira, signaling a switch in sentiment toward equities in Africa’s biggest oil producer.

The finance media company said foreign investors were heavy buyers of Nigerian shares last year. “Nigerian equities have gained in allure for international traders, thanks to the rise in Brent crude prices to around 70 dollars a barrel and an easing of dollar shortages, which are helping Africa’s largest economy recover from its worst slump in 25 years. “They’re also attracted by what remain among the cheapest valuations on the continent. “The turnaround has seen investors pile into the New York-based Global X MSCI Nigeria ETF this year, too. “That’s increased the exchange-traded fund’s market capitalisation to almost $100 million, triple the size of a year ago,” Bloomberg said. The world-beating rally in Nigerian stocks might not be over yet, noting that the main equity index in Africa’s biggest economy had surged 12 per cent in the first two weeks this year in dollar terms, the most among 96 major bourses tracked by Bloomberg, pushing it to the highest level since 2008. It said the advance would probably be sustained thanks to rising prices for oil, Nigeria’s main export, and as investors look to increase their holdings of what remained among the cheapest stocks in Africa. “Still, there are some warning signs. The 120-day correlation between Nigerian stocks and Brent crude is now around the highest in two years.

If oil prices reverse their 45 per cent climb since June, Nigerian assets could take a hit. “That’s one reason HSBC Holdings Plc has a negative outlook on the stocks. The U.K. bank also says Nigeria will have to free its currency further. “While the central bank eased some capital controls last year and opened a trading window for foreign portfolio investors, it continues to operate several exchange rates.” It warned, however, that Nigeria’s multiple exchange rate system was likely to remain a key drag, keeping long-term investors on the side lines. NAN


https://www.vanguardngr.com/2018/01/nigerias-stocks-among-worlds-best-performers-4-months-bloomberg/

So?

Captleverage:
So?

It's a good sign. You too can invest if you can bear the risk

I dont know what they mean but Buhari should take some credit from that.

We should not always criticise when the president makes wrong decisions.

Having said that, what concerns me is my basic needs and how this country can be better for me, my kids and Nigerians.

And for that, its unfortunate news like this cant change my views of an incompetent Buhari.

Good News!!!

deji17:


It's a good sign. You too can invest if you can bear the risk

Did you invest money in stocks?

Captleverage:

Did you invest money in stocks?

Yes I did.

deji17:

Yes I did.

Yinmu! What stocks did you buy? Whose your intermediary? What are your specs? and what are the current trends in the market?

Captleverage:


Yinmu! What stocks did you buy? Whose your intermediary? What are your specs? and what are the current trends in the market?

Lol.

Captleverage:


Yinmu! What stocks did you buy? Whose your intermediary? What are your specs? and what are the current trends in the market?

Interesting, is like na you dey set jamb questions

hypertension:


Lol.

thank you thank you

Chidexter:


Interesting, is like na you dey set jamb questions

yea I get TESTY when people lie to me

Why not after forcing us to buy dollar at almost 400 naira?

Captleverage:


Yinmu! What stocks did you buy? Whose your intermediary? What are your specs? and what are the current trends in the market?

lol. How is the stocks I buy important to you? This is an open market and not shrouded in any secrecy. It's up to you to research into the market and decide on which of the stocks to buy based on your research, affordability, and level of risk tolerance.

deji17:


lol. How is the stocks I buy important to you? This is an open market and not shrouded in any secrecy. It's up too you to research into the market and decide on which of the stocks to buy based on your research, affordability, and level of risk tolerance.

So in other words you didn't invest in the stock market because you don't have the funds to do so , that's why I asked "so" stock market can be prosperous and all but when you don't have the bar, what's the point?

Captleverage:


So in other words you didn't invest in the stock market because you don't have the funds to do so , that's why I asked "so" stock market can be prosperous and all but when you don't have the bar, what's the point?

Is there anything in my post that suggest that I do not have the funds to invest in the stock market?

deji17:


Is there anything in my post that suggest that I do not have the funds to invest in the stock market?

Not being able to answer my basic questions

Lie from the pit of hell

Captleverage:

Not being able to answer my basic questions

I'm sure, I do not owe you that. You are ultimately responsible for yourself as I would assume you are an adult. The stock market is there for you to invest if you are interested. I have given you the basic guideline as well.

deji17:


I'm sure, I do not owe you that. You are ultimately responsible for yourself as I would assume you are an adult. The stock market is there for you to invest if you are interested. I have given you the basic guideline as well.

Yinmu broke nigga
Anyway I've made my point

Captleverage:


Yinmu broke nigga
Anyway I've made my point

Congratulations.. You have no idea.

By the grace of God, I do very well for myself. It's all I will say.

hypertension:
I dont know what they mean but Buhari should take some credit from that.

We should not always criticise when the president makes wrong decisions.

Having said that, what concerns me is my basic needs and how this country can be better for me, my kids and Nigerians.

And for that, its unfortunate news like this cant change my views of an incompetent Buhari.

These are the positive news that will drives in the much needed foreign investment, abi una no want jobs again?.

7lives:


These are the positive news that will drives in the much needed foreign investment, abi una no want jobs again?.

Some people are just obsessed with bad and negative news.

deji17:


Congratulations.. You have no idea.

By the grace of God, I do very well for myself. It's all I will say.

hehehe of course you do that's why you are arguing with a "clueless" person

Good..





Meanwhile guys check out my profile for your extender products and other adult fantasy toys

BMC tryin hard to up buhari's rating shaaa wen he has failed.

Fulani herdsmen, most performing terrorist group in d world

Good.

Good news !

Sign of good things to come? Hopefully, but let's not get too cheery. We have a herdsman to send back to Daura.

Good news about Nigeria from foreign media!

We thank the Lord.

hypertension:
I dont know what they mean but Buhari should take some credit from that.

We should not always criticise when the president makes wrong decisions.

Having said that, what concerns me is my basic needs and how this country can be better for me, my kids and Nigerians.

And for that, its unfortunate news like this cant change my views of an incompetent Buhari.

Perfectly stated. Well articulated unbiased view.
It's better to say things as they appear to u than what people generally say randomly. If he does well let's say it, but when his bad is more than is good.,then he is just not good enough!