₦airaland Forum

Equities Market Lose N234b on Weakened Investors’ Confidence
**As Nestle, Dangote Cement Top Losers’ Chart
https://www.businesspost.ng/2018/02/19/equities-market-lose-n234b-weakened-investors-confidence/

**As Nestle, Dangote Cement Top Losers’ Chart

By Modupe Gbadeyanka

Transactions on the floor of the Nigerian Stock Exchange (NSE) started the week on a bearish note on Monday with 1.53 percent loss.

This brought to an end the three consecutive bullish sessions recorded at the close last week.

Business Post reports that profit taking by investors as well as poor performance recorded by market heavyweights like Dangote Cement and Nestle dragged the local bourse lower.

Also, weakened investors’ confidence in the market as reflected by the market value, which depreciated by 71.65 percent today, contributed to the bearish performance.

At the close of trading activities today, the year-to-date return depreciated to 9.79 percent with the market breadth closing negative with 16 price gainers and 32 price losers.

The market capitalisation declined on Monday by N233.5 billion to settle at N15.068 trillion, whilst the All-Share Index (ASI) decreased by 650.65 points to finish at 41,988.18 points.

The top losers’ chart was led today by Nestle, which went down by N58.20k to close at N1341.80k per share.

It was followed by Dangote Cement, which depreciated by N8.60k to finish at N251.30k per share, and Nigerian Breweries, which fell by N2.10k to settle at N128.90k per share.

PZ Cussons lost N2 to close at N23 per share, while Nigerian Enamelware dropped N1.15k of its share value to end at N22.10k per share.

On the flip side, International Breweries emerged the biggest price gainer after appreciating by N1.25k to close at N59 per share.

It was trailed by GTBank, which rose by N1 to finish at N47.50k per share, and CCNN, which progressed by 35k to end at N18.50k per share.

Fidson gained 22k to settle at N4.69k per share, while Axa Mansard increased by 13k to close at N2.78k per share.

Business Post reports further that the volume and value of equities transacted by investors on Monday declined by 64.80 percent and 71.65 percent respectively.

A total of 287.2 million shares worth N2.3 billion were sold today in 4,646 deals, compared with 815.9 million shares traded last Friday in 4,808 deals valued at N8.1 billion.

Banking stocks dominated the market on Monday with Skye Bank emerging the most traded stock, exchanging 58 million shares worth N63.2 million.

It was followed by Diamond Bank, which sold 40.3 million units valued at N106.7 million, and FCMB, which traded 35.3 million valued at N89.4 million.

Jaiz Bank traded 19 million shares worth N20.4 million, while Zenith Bank transacted 15.7 million equities for N497 million.

https://www.businesspost.ng/2018/02/19/equities-market-lose-n234b-weakened-investors-confidence/

Stock Recommendation For This Week (February 19)
https://www.businesspost.ng/2018/02/19/stock-recommendation-week-february-19/

N56.30b T-Bills Mature This Week via Secondary Market
https://www.businesspost.ng/2018/02/19/naira-loses-0-28-one-week-ie-amid-0-9-rise-foreign-reserves/

Milost Global Injects $350m Into Japaul Oil to Boost Returns
https://www.businesspost.ng/2018/02/18/milost-global-injects-350m-japaul-oil-boost-returns/

T-Bills Yields Slightly Rise 0.07% on Squeeze in System Liquidity
https://www.businesspost.ng/2018/02/17/t-bills-yields-rise-0-07-on-squeeze-in-system-liquidity/

UBN Property Company Lists Shares on NASD Trading Platform
https://www.businesspost.ng/2018/02/17/ubn-property-company-lists-shares-nasd-trading-platform/

Overnight Rate Drops as T-Bills Market Trades Flat
https://www.businesspost.ng/2018/02/16/overnight-rate-drops-t-bills-market-trades-flat/

Nigerian Breweries Declares N33b Dividend, Profit for 2017
https://www.businesspost.ng/2018/02/16/nigerian-breweries-declares-n33b-dividend-profit-2017/

UAC Nigeria Pulls Out of Warm Spring Waters Nigeria Ltd
https://www.businesspost.ng/2018/02/15/uac-nigeria-pulls-warm-spring-waters-nigeria-ltd/

Lafarge Board Meets to Consider Dividend Payment, Financial Results
https://www.businesspost.ng/2018/02/15/lafarge-board-meets-consider-dividend-payment-financial-results/

CBN Limits Dividend Payment by Banks
https://www.businesspost.ng/2018/02/15/cbn-limits-dividend-payment-banks/

T-Bills Market Trades Bullish as Yields Fall
https://www.businesspost.ng/2018/02/15/t-bills-market-trades-bullish-yields-fall/

Treasury Bills Rates Slightly Rise to 15.44% on Absence of OMO Sale
https://www.businesspost.ng/2018/02/14/treasury-bills-rates-slightly-rise-15-44-absence-omo-sale/

Flour Mills Emerges Best Dividend Paying Stock
https://www.businesspost.ng/2018/02/13/flour-mills-emerges-best-dividend-paying-stock/

Nestle Nigeria Board Meets March 1 for 2017 Financial Results
https://www.businesspost.ng/2018/02/13/nestle-nigeria-board-meets-march-1-2017-financial-results/

NSE: GTBank Records Highest Return of 1100% in 10 years
https://www.businesspost.ng/2018/02/13/nse-gtbank-records-highest-return-1100-10-years/

FCMB's Operating Profitability Among Weakest—Fitch
https://www.businesspost.ng/2018/02/13/fcmbs-operating-profitability-among-weakest-fitch/

T-Bills Market Bearish on Continued Squeeze in System Liquidity
https://www.businesspost.ng/2018/02/12/t-bills-market-bearish-continued-squeeze-system-liquidity/

Union Bank Asset Quality Significantly Weak—Fitch
https://www.businesspost.ng/2018/02/12/union-bank-asset-quality-significantly-weak-fitch/

Nigerian Stocks Continue to Fall Amid Panic Selling
https://www.businesspost.ng/2018/02/12/nigerian-stocks-continue-fall-amid-panic-selling/

By Dipo Olowookere

Trading activities resumed on Monday on the floor of the Nigerian Stock Exchange (NSE) and by the time the market closed for the day, it ended weak, mainly buoyed by panic selling by investors as well as falling prices of highly capitalised equities.

The stock market went down by 0.90 percent today, extending the loss to the sixth day to shrink the year-to-date return further to 11.75 percent.

Business Post reports that the market breadth finished negative on Monday with 12 price risers and 36 price fallers.

The biggest price loser on Monday was Nigerian Breweries, which depreciated by N3.90k to settle at N133 per share.

It was followed by GTBank, which fell by N2.40k to close at N45.60k per share, and Lafarge, which declined by N2 to finish at N50 per share.

Zenith Bank lost N1.50k to end at N29.40k per share, while Flour Mills went down by N1.10k to close at N31.50k per share.

On the flip side, Dangote Cement emerged the biggest price gainer, appreciating by N5.30k to finish at N272 per share.

It was trailed by Beta Glass, which rose by N3.25k to close at N68.70k per share, and PZ Cussons, which improved by N1.40k to end at N25.40k per share.

GlaxoSmithKline advanced by N1 to settle at N21.20k per share, while International Breweries also increased by N1 to finish at N60 per share

Business Post further reports that though the volume of equities traded by investors on Monday slightly depreciated, the value increased.

A total of 517.4 million shares worth N5.2 billion were traded today in 5,852 deals compared with 552.4 million units valued at N4.5 billion transacted at the last trading session on Friday in 5,489 deals.

Skye Bank was the most traded stock in terms of volume. The counter sold 73.2 million shares worth N79.2 million.

FBN Holdings traded 71.3 units valued at N815.7 million, while Jaiz Bank sold 40.6 million equities for N42.4 million.

In addition, Transcorp transacted 40.5 million shares valued at N84 million, while FCMB exchanged 26.2 million equities worth N71.3 million.

A look at the major market indices showed that the All-Share Index (ASI) went down on Monday by 390.03 points to settle at 42,737.89 points, while the market capitalisation decreased by N139.6 billion to close at N15.337 trillion.

As Business Post earlier predicted, the market may bounce back tomorrow or Wednesday as some investors have used this long weak period to gather some weak stocks at the market.

https://www.businesspost.ng/2018/02/12/nigerian-stocks-continue-fall-amid-panic-selling/

Ecobank Obtains $200m Loan from Dutch Bank for SMEs
https://www.businesspost.ng/2018/02/12/ecobank-obtains-200m-loan-dutch-bank-smes/

Dangote Cement Announces Closed Period From Today
https://www.businesspost.ng/2018/02/12/dangote-cement-announces-closed-period-today/

Stock Recommendation For This Week (February 12)
https://www.businesspost.ng/2018/02/12/stock-recommendation-week-february-12/

Fitch Affirms Fidelity Bank at 'B-', Gets Positive Reviews
https://www.businesspost.ng/2018/02/12/fitch-affirms-fidelity-bank-b-gets-positive-reviews/

T-Bills PMA Rates to Decline This Week as N90b Bills Mature
**Lending Rates to Slightly Rise
https://www.businesspost.ng/2018/02/12/t-bills-pma-rates-decline-week-n90b-bills-mature/

Wema Bank Financial Metrics Remain Weak—Fitch
https://www.businesspost.ng/2018/02/11/wema-bank-financial-metrics-remain-weak-fitch/

Fitch Affirms Sterling Bank at 'B-'
https://www.businesspost.ng/2018/02/10/fitch-affirms-sterling-bank-b/

18 African Countries Grew GDP Above 5% in 2017—AfDB
https://www.businesspost.ng/2018/02/08/18-african-countries-grew-gdp-5-2017-afdb/

By Modupe Gbadeyanka

President of the African Development Bank Group (AfDB), Mr Akinwumi Adesina, has revealed that in 2017, the average GDP growth in Africa was 3.6 percent, up from 2.2 percent in 2016.

According to him, last year, 18 African countries grew above 5 percent in 2017, and 37 others above 3 percent.

Mr Adesina further disclosed the average GDP growth is projected to accelerate to 4.1 percent in 2018 and 2019.

The AfDB boss rolled out these figures when the bank hosted the annual luncheon of diplomats accredited to Côte d’Ivoire in Abidjan on Tuesday.

During the event, he urged the bank’s member countries to contribute to the 7th General Capital Increase to enable the institution to realise its development objectives.

Welcoming the diplomats on behalf of the Board of Directors, management and staff of the Bank Group, Mr Adesina shared perspectives on the performance of African economies, updated them on the institution’s activities and highlighted emerging economic issues for the Bank and the continent.

“The African Development Bank, your Bank, is reforming, innovating, leading and delivering more for Africa than ever before.

“With the strong support for a General Capital Increase by our Board of Directors, Governors of the Bank, and you, the Ambassadors representing our shareholder countries, Africa will indeed experience a much brighter and impactful future,” he said.

Mr Adesina said the continent remains resilient to global economic headwinds and climate shocks as related by the Bank’s 2018 Africa Economic Outlook published in Abidjan on January 17, 2018.

Bank makes impressive development impacts

In 2017, the Bank achieved impressive development impacts. Its ‘Light up and power Africa’ High 5 reached 4.4 million people with access to electricity.

Its ‘Feed Africa’ goal reached 8.5 million Africans with access to improved agriculture technologies, while its ‘Integrate Africa’ provided 14 million Africans with improved access to transport and the ‘Industrialize Africa’ provided 210,000 small businesses with access to financial services.

Also, the lender’s ‘Improving the quality of life’ High 5 provided 8.3 million Africans with improved access to water and sanitation.

Mr Adesina also shared important landmarks on the bank’s ongoing reforms and achievements over the past two years: achieving its highest annual disbursement ever in its history at $7.67 billion while maintaining its Triple ‘A’ rating by the major global rating agencies; investing $1.39 billion in 31 operations in the energy sector in 23 countries representing a 30 percent increase over 2017; launching its largest bond transaction, with a $2.5 billion 3-year global benchmark, followed by its largest ever 5-year global benchmark for $2 billion; and continues to grow its income, reversing a two-year declining trend; and recording a rise in 2016 in its net operating income to $556.6 million, which shot up to $855 million in 2017, and increased by almost 54 percent over 2016, and 73 percent increase over 2015.

Currently, the Bank is spearheading the development of the Desert-to-Power initiative to harness electricity from the sun all across the Sahel, designed to generate 10,000 MW of power, connect 250 million people to electricity, including providing 75 million people with off-grid systems.

A generous General Capital Increase will enable Bank to do more

The Bank is “reforming, changing, delivering and leading,” through the strong support it receives from it member countries, Mr Adesina said, adding that such support will be most needed during the General Capital Increase to help the Bank do more for Africa.

“At a time that we need to ramp up support to Africa for the SDGs, the Bank needs more resources through a General Capital Increase (GCI). The message could not have been heard louder than when the Ministers and Governors of the Bank from West and Central Africa came to the Bank recently. They unanimously supported the General Capital Increase for the Bank,” he said.

“The support of all shareholders will be crucial for the General Capital Increase of the Bank. The Bank should do more for Africa and we are working extremely hard to revamp the Bank, and put it in a much stronger position, with more highly capable staff and institutional capacity to deliver more … better and faster. Our ability to deliver in the past and now is a good indication that you can depend on us to deliver more in the future.”

Johannesburg to host Africa Investment Forum in November 2018

To mobilize African and global pension funds, sovereign wealth funds and institutional investors, to invest in Africa, the Bank has launched the Africa Investment Forum (AIF) to be held November 7-9 in Johannesburg, South Africa.

The transactional forum is expected to become Africa’s premier investment marketplace, Mr Adesina said, noting that several peer institutions have indicated their interest in participating in what could become Africa’s largest private-sector investment accelerator.

In his response, the Dean of the Diplomatic Corps, Apostolic Nuncio to Côte d’Ivoire, Monsignor Joseph Spitieri, congratulated Mr Adesina on his 58th birthday and commended the Bank for helping pull people out of poverty.

“The success of your strategy encapsulated in the High 5s is testimony to your commitment to help people in Africa and reduce poverty,” the cleric said.

“We wish the Bank success in its endeavours to improve the lot of the most deprived people in Africa,” he added.

https://www.businesspost.ng/2018/02/08/18-african-countries-grew-gdp-5-2017-afdb/

CBN Sells N3.4tr OMO Bills in Q4 2017
https://www.businesspost.ng/2018/02/09/cbn-sells-n3-4tr-omo-bills-q4-2017/

With government's decision to opt for foreign borrowing instead of local borrowing, the rate will continue to fall. Like someone said here, just pray it doesn't go below 10%. That is just the bitter truth.

Gavrelino123:
I just hope T.B rate increases.....Even if it's 14% or 15%.......I always stand with T.B....

FG to Use $2.5b Eurobond to Refinance N762.5b Maturing Bills
https://www.businesspost.ng/2018/02/08/fg-use-2-5b-eurobond-refinance-n762-5b-maturing-bills/

MTN to List N153b Shares on NSE Soon
https://www.businesspost.ng/2018/02/08/mtn-list-n153b-shares-nse-soon/

Overnight Rate Jumps to 53% on Absence of OMO Sales
https://www.businesspost.ng/2018/02/08/overnight-rate-jumps-53-absence-omo-sales/

Nigerian Pension Funds Diversify into Sukuk, Green Bonds
https://www.businesspost.ng/2018/02/07/nigerian-pension-funds-diversify-sukuk-green-bonds/

T-Bills Yields Gain 0.33% as Market Trades Bearish
https://www.businesspost.ng/2018/02/07/t-bills-yields-gain-0-33-as-market-trades-bearish/