Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,866,801 members, 6,879,736 topics. Date: Wednesday, 25 May 2022 at 07:57 AM

With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg (9517 Views)

Seun Adedeji Was Arrested For Weed At 13 Now Owns A Weed Startup At 27-bloomberg / Dangote Reacts To Criticisms On Border Closure Exemption, Hammers Bloomberg / With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best – Bloomberg (2) (3) (4)

(1) (2) (3) (Reply) (Go Down)

With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by odiks: 5:53am On Jan 15, 2018
The main equity index in Africa’s biggest economy has surged 12 per cent this year in dollar terms, the most among 96 major bourses tracked by Bloomberg, pushing it to the highest level since 2008. Dangote Cement Plc, controlled by Africa’s richest man, Aliko Dangote, and the largest company on the bourse, has climbed to a record high.

The advance will probably be sustained thanks to rising prices for oil, Nigeria’s main export, and as investors look to increase their holdings of what remain among the cheapest stocks in Africa, according to the asset management arm of South African lender FirstRand Ltd.

“For investors wanting more exposure to consumers in Africa and Nigeria, in particular, the outlook is good,” said Paul Clark, a money manager in Johannesburg at Ashburton Investments, which owns Nigerian stocks including Seplat Petroleum Development Co. “The banking sector is probably the most attractive at the moment, especially the tier-2 lenders.”

Nigerian stocks are leading the world so far this year. Foreign investors have been crucial in driving the market higher. The New York-based Global X MSCI Nigeria ETF attracted record weekly net inflows through Thursday. That helped to increase the exchange-traded fund’s market capitalization to almost $90 million, double the level in May last year.

Even after the gains, Nigerian valuations are the cheapest among the major African equity indexes. Nigerian stocks trade at a forward price-to-earnings ratio of 10.2, while South Africa’s are at 14 and the MSCI Emerging Market Index is at 13.

That suggests there’s further upside, according to Cape Town-based fund Allan Gray. While foreign investors turned negative on Nigeria after following the 2014 oil crash and subsequent recession, the economy picked up last year and growth is forecast by the International Monetary Fund to accelerate to 2.1 percent in 2019.

“For long-term investors, Nigerian equities were a screaming bargain,” said Nick Ndiritu, co-manager of Allan Gray’s $389 million Africa equity fund, which doesn’t include South Africa. “Investor sentiment has turned more bullish on Nigeria and a re-rating of the Nigerian stock market is now underway.”

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 percent 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 if it wants to attract more investment. While the central bank eased some capital controls last year and opened a trading window for foreign portfolio traders, it continues to operate several exchange rates.

“Nigeria’s multiple exchange rate system is likely to remain a key drag, keeping long-term investors on the side lines,” HSBC analysts David Faulkner, John Lomax and Kishore Muktinutalapati said in a note on Jan. 11.

• Copyright Bloomberg

https://www.thisdaylive.com/index.php/2018/01/15/with-12-rise-in-fourteen-days-nigerian-stocks-are-worlds-best/

5 Likes 1 Share

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by LionDeLeo: 5:54am On Jan 15, 2018
I trust the hate-filled organisms.

Several hate-induced impromptu Economists will now come up with their ogogoro, palm wine & jugunu analyses against this report. grin

Waiting to read shekpe joint interpretation. grin

66 Likes 5 Shares

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by EDOPRO: 6:22am On Jan 15, 2018
Nice one, bubu is working.
IPob Now

40 Likes 4 Shares

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by seunmsg(m): 6:26am On Jan 15, 2018
Great. Unfortunately, nobody is talking about the huge success that we are recording in the stock market. Investors confidence in the economy is at an all time high and that is what is translating to our stock market becoming the best performing market in the world. Govt should fix the criminality of the herdsmen that is taking the shine out of the success that our economy is recording.

49 Likes 4 Shares

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by jnfoage: 6:28am On Jan 15, 2018
OfficialAwol:


Shut up you fool.

Who is the chairman of NSE. Is he a Fulani?
You guys must be very strong.
When it goes bad, it is Buhari.
When it goes good, it is the head of the parastatal.
Now, using same analogy, who heads CBN? Is he a Fulani man? Is CBN not the same organisation you lots compete among yourselves insulting for your so-called incompetence?
God must have spent extra time creating you guys.

49 Likes 2 Shares

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by Blue3k(m): 6:30am On Jan 15, 2018
LionDeLeo:
I trust the hate-filled organisms.

Several hate-induced impromptu Economists will now come up with their ogogoro, palm wine & jugunu analyses against this report. grin

Waiting to read shekpe joint interpretation. grin

Lol you're drunk off a 1 week performance in stock market. Talk after year end. As you probably know it was one of worst performing index in 2016. 2017 was good year though.

1 Like 3 Shares

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by LionDeLeo: 6:34am On Jan 15, 2018
Blue3k:


Lol you're drunk off a 1 week performance in stock market. Talk after year end. As you probably know it was one of worst performing index in 2016. 2017 was good year though.
Seen.

Waiting for the next analysis. cheesy cheesy

16 Likes 2 Shares

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by Guestlander: 6:39am On Jan 15, 2018
This is a terrible development for the hate mongers.

10 Likes 1 Share

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by Blue3k(m): 6:42am On Jan 15, 2018
LionDeLeo:

Seen.

Waiting for the next analysis. cheesy cheesy

Lol are u day trader or just cheerleader? Man you guys are funny in Nigeria. I'm pretty sure your not investor because you wouldnt be so excited. The gains recorded here are still less than inflation.

Please enjoy your gains if you made some though.

2 Likes 2 Shares

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by Nobody: 7:02am On Jan 15, 2018
The best in just 14 days? Lol.... Is this how low our success bar has fallen? angry undecided
Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by BruncleZuma: 7:19am On Jan 15, 2018
grin grin grin grin

Make una go read 1984 ooooo
Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by wildchild02: 7:20am On Jan 15, 2018
We're getting thr

Check my signature to order your football jerseys and get FREE CUSTOMIZATION, YES you heard me right FREE CUSTOMIZATION... New year discount is still on

1 Like

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by Boyooosa(m): 7:22am On Jan 15, 2018
Some pple will still not c the hope in this news, they prefer to read killings in Benue so that they can observe their five times daily prayer, ish.

Comparatively, not that kemi is better than ngozi but one has a visionary leader.

12 Likes 2 Shares

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by Millz404(m): 7:23am On Jan 15, 2018
Buhari is still useless.... Does he know what stock means and how it works...?.... Mtchew
Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by naijapips04: 7:23am On Jan 15, 2018
Lol. Stock market thats is recovering from recession.

These kind of growth are expected from a recovering market. We had a higher growth rate and faster recovery during the 2008 - 2012 global depression.

we grew 33% in 2012. https://www.nairaland.com/4290352/nigeria-stock-market-grew-33

2 Likes 2 Shares

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by debolayinka(m): 7:25am On Jan 15, 2018
I pray the gains are sustain and it circulates till it reaches the common man's table.

2 Likes 1 Share

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by Shayneward1: 7:27am On Jan 15, 2018
Worryingly the 'stock' hasn't reduced the price of garri in the market.

1 Like

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by Donpresh95(m): 7:27am On Jan 15, 2018
We have carried world best in everything concerning Economy but still,Complete bodied Hausa alamajiri is still littered all over the place begging for food because of hardship. If you as a kid received more praise than your brothers on everything, check well, there is a problem with you, they are trying to remove inferiority complex from you when you compare yourself to them in future

1 Like 1 Share

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by mzHANA(f): 7:28am On Jan 15, 2018
OK nice
Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by mzHANA(f): 7:29am On Jan 15, 2018
Yet there's suffering in the land
Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by SoNature(m): 7:29am On Jan 15, 2018
Good news coming from Nigeria after years of bad news

2 Likes

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by naijapips04: 7:30am On Jan 15, 2018
seunmsg:
Great. Unfortunately, nobody is talking about the huge success that we are recording in the stock market. Investors confidence in the economy is at an all time high and that is what is translating to our stock market becoming the best performing market in the world. Govt should fix the criminality of the herdsmen that is taking the shine out of the success that our economy is recording.

It's expected from a market that is recovering. Nothing to see here.
Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by princeadams11: 7:30am On Jan 15, 2018
jnfoage:

You guys must be very strong.
When it goes bad, it is Buhari.
When it goes good, it is the head of the parastatal.
Now, using same analogy, who heads CBN? Is he a Fulani man? Is CBN not the same organisation you lots compete among yourselves insulting for your so-called incompetence?
God must have spent extra time creating you guys.
Nice one. The are blinded with hatred. They can't see anything positive

15 Likes 4 Shares

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by ultron12345: 7:32am On Jan 15, 2018
ipob swine will not have a pleasant week

8 Likes

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by id4sho(m): 7:32am On Jan 15, 2018
sai BABA

1 Like 1 Share

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by Bollinger(m): 7:37am On Jan 15, 2018
LionDeLeo:
I trust the hate-filled organisms.

Several hate-induced impromptu Economists will now come up with their ogogoro, palm wine & jugunu analyses against this report. grin

Waiting to read shekpe joint interpretation. grin

It is not about being hate induced. The question you should be asking is; how does this news translate into improving the lives of the average Nigerian. What is better than stocks and bonds? I'll tell you. Oil is better than stocks and bonds and Nigeria has plenty of it. How has this precious Natural resource improved the lives of Nigerians? The core problem that Nigerians should be focused on they are ignoring and until that is fixed, even if the streets of Nigeria is paved with gold, Nigerians can never have the standard of living they want.

1 Like

Re: With 12% Rise In Fourteen Days Nigerian Stocks Are World’s Best - Bloomberg by edoman2016: 7:40am On Jan 15, 2018
Nigerian stock is fraud. A manipulated and inflated stock prices to deceive gullible investors.

3 Likes 2 Shares

(1) (2) (3) (Reply)

Skye Bank Gets N100bn CBN Lifeline / What Is The Meaning Of Bank Consolidation / Lagos, Kaduna, Edo Top List Of Foreign Debtors

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2022 Oluwaseun Osewa. All rights reserved. See How To Advertise. 103
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.