Calebbold:
http://www.nse.com.ng/Financial_NewsDocs/31687_LAFARGE_AFRICA_PLC%20_QUARTER_3_%20_FINANCIAL_STATEMENT_F.pdf

Wapco Q3 2020 result

Below expectations......

Equity snapshot......

FG October Bonds Oversubscribed By N205.87bn - PUNCH

https://www.abokifx.com/news/32717/details

ahiboilandgas:
hopeful we will not vote for him or tinubu ....the youths will be wise....buhari also benefited from insecurity during Jonathan

We have not learnt anything. Majority of those protesting today will still not come out to vote.
Our next president will still be elected by mostly illiterate who will collect 2k to vote for either PDP or APC.

NL1960:


When these protests started entering the inner streets, i advised and warned several of the youths that the protests will be hijacked by area boys and hoodlums and it will spiral out of their control and that they should retreat to restratigize. They refused to listen saying they do not need any advise from the older generation. They think their generation is the first in the history of Nigeria to do protests.

I have asked people where the Feminist movement that was giving daily reports and Anonymous that was hacking websites upandan gone to?. Even Radio 'Soro Soke' is off the air.

When they started castigating the older generation I knew they were overestimating what they could do.
Tinubu was once a hero.

emmanuelewumi:



Yes if you don't over pay

Not talking about the price tag.

It is in relation to the current event.
What happened to the owner of those property that were destroyed?

Is real estate investment still a safe and secured investment?

Krisuba:


I wisj there is away to scatter this market. D country is on fire and all some people is thinking is money!! Y not shut down trading

Shut down trading for what?

Equity review for last week....


Equities Market in Review
Last week’s trading was categorized by three distinct phases: initial profit taking on Monday, three days of cautious trading and a sharp rally on Friday. Most of the locals had waited to see how low yields would go at the NTB auction and the release of Inflation data - 1yr T-bill at 2% and inflation hovering at 13.7% bodes well for our beloved stocks, as the hunt for yield will increase appetite for risk assets. No surprise then, that we saw c.N7.7bn (c.$20mn) of local money flow into the two highest dividend yielding Tier-1 lenders; ZENITHBA NL (11.6% yield) and UBA NL (11.3% yield)—for UBA NL, weekly volume and value (354mn units, N2.4bn) would tick its highest point in seven months. Notwithstanding, bulk of the purchases were executed by local retail accounts and asset managers (Non-PFAs), for the PFAs, we are seeing PMs quote bids at discount to current prices, biding their time till the release of Q3 numbers, while offshore accounts were net sellers all week. As we enter the earnings season, one would expect that the quality of performance would have the biggest influence on local appetite and set the course for the near-term trajectory of the bourse.

Let’s look back at last week’s events;

 The bourse gained 86bps last week, mainly driven by gains recorded in the banking names (NSEBNK +2.89%). Except for the insurance bucket, every other sectoral index closed higher WoW.

Who did what?
Pension funds balked at the high prices of some of the bellwether tickers last week, however, we saw some long term money flow into GUARANTY NL, with no less than N5bn dealt in that name (C.160mn units). Apart from GUARANTY NL, there were minute purchases in ZENITHBA NL, WAPCO NL, FBNH NL and ACCESS NL. On the flip side, the local asset managers (Non-PFAs) and retail accounts were the main buyers last week, lifting offers across the tier-1 spectrum. In the cement space, we saw thin trades print in WAPCO NL and DANGCEM NL—mostly retail sized prints. Speculators were active buyers in CADBURY NL, INTBREW NL, while we saw PFAs sell GUINNESS NL and FLOURMILL NL.

For offshore accounts we saw a sharp change in sentiments and strategy last week. Looking back at the last three months, we noticed that the active offshore players were switching positions (Selling one stock to fund purchases of another)—SA funds were selling ETI NL, ACCESS NL and FBNH NL and using the proceeds to fund purchases in GUARANTY NL and STANBIC NL. However, since the turn of the month, the flow pad has been stacked with sizable offers, as we saw 2/3 funds trim their Nigerian positions—for specifics, we saw c.220mn units of GUARANTY NL sold, 148mn UBA NL disposed and a c.40mn sell ticket in both ACCESS NL and FBNH NL . All this comes after we saw One particular fund trim more than 400mn units of ZENITHBA NL in the first two weeks of the month-the reason why prices have not been depressed, is because PFAs have taken up most of this block volumes. No surprise then, that NEWGOLD NL printed a record breaking weekly trade value of N6bn (c.$16mn) last week, as selling accounts repatriate cash proceeds. In fact, we have seen more trades in NEWGOLD in the last three weeks (MtD) than ever recorded since its listing—N12.5bn (c.$33mn )have been repatriated in the month of October.

Worthy of Mention
Special treatment to be maintained for Nigerian stocks in MSCI FM; Three weeks away from the highly anticipated MSCI November Semi-annual review; the MSCI FM index would be given a huge shake-up, due to the upgrade of Kuwait (currently 37% of the index) to Emerging market status and the addition of Iceland (proposed 5.21% weight ) to the index. The removal of Kuwait would leave a huge hole in the index, resulting in the possible increase of the weights of some of the current constituents. For Nigeria, the index provider had not effected any changes in its May and August reviews, citing the current FX illiquidity as the reason for the approach, The index maker had implemented a ‘’special treatment’; in which no Nigerian equity would be added/removed from its FM and Small cap index. Last week, the MSCI analysts released a disclosure stating that Nigeria’s special treatment would be maintained in the upcoming November review, and as such while other FM countries could see their weights rejigged, Nigerian stocks would maintain status quo (we currently have a 5.5% weight in the index—the 4th largest).


Outlook
We project more volatility in the bourse as speculative trades continue to pass through and as the current offshore sellers continue to trim their inventory. However, all eyes would be focused on the slew of Q3numbers expected to be released late in the week, the financial performance of the bellwethers would dictate the near-term course of the bourse.

lexy2lexy:


Hi Pluto, please who is your broker? Which company produces the report you share?

Cardinalstone.

Mcy56:
Hope Nsempas are not among those selling their UBA at 6.60?
Anyway, each man for himself. God for us all. Follow your mind or whatever.

Sellers are foreigners.

ositadima1:
Zenith vs GTB ?

The two stocks are highly correlated meaning that if you have both in ur portfolio then u are not diversifying - they are affected by happenings similarly.

From d excel sheet bellow if u buy in January and sell in December each year, ur returns will be like so. GTB has done much better in terms of returns over d periods in consideration. Also, buy and hold is less profitable.

Notes:
1. Historical data was scrapped off investing(dot)com with a python script.
2. The correlation coefficient was calculated with Pearson method (statisticians in d house )
3. I didnt consider dividends sha.
4. Finally, thank God for python language

Good job, well done.
I think BBM did something similar for us some years ago.
Will like to see more of this.
You can also do one for oil price and NSEASI.

DexterousOne:


Anti robbery squad

They have nothing or no business with yahoo boys

Leave yahoo matter and investigations for the EFCC...
Let them do their jobs properly

Its imperative we do things right in this country

Okay with the way sars has been harassing then
How many indictments have they been able to get?

SARS have definitely overstepped their boundaries by harassing Innocent citizens.
However, the good job they are doing cannot just be wished away.
EFCC will need more hands to tackle yahoo boys and for now I don't think we should leave them alone. The evil those boys do should not be allowed to continue just because we don't want SARS.

emmanuelewumi:



I learnt most of the digital agriculture promoters invested the funds in forex, crypto currencies and other highly speculative ventures

Okomu and presco are listed agric companies on NSE.
Well run and profitable..
Okomu has been in business for more than 40 years, prsco is about 30 years..
They have access to cheap money and latest technologies.
What they produce offer better opportunities for planning and profitability.

ROE this year will be about 25%, last year was less than 20%

Yet someone who is claiming to be starting a farm afresh will be promising people 25 to 40% returns in 3 to 6 months and people are rushing in claiming investment. It can only end in pain and disaster...

Phylife:


If the head is bad, the members too will be bad. Are the governments good? If reforms or restructuring must take place, it'd start from the top down and not otherwise because it won't work.

Just thinking out loud here.

Yahoo boys have hijacked the protest. They would rather wish that SARS die than being reformed.
The operations of yahoo boys in Nigeria is another time bomb waiting....

ahiboilandgas:
thank you very much i will do .it not easy been a Nigerian been trying to pay 300 dollars on a website it's declining must Nigeria banks.

There are lot of restriction on many sites with Nigeria banks ATM cards now.
On a good day,access can allow you to do more than 300 if the site is not restricted with their yeye rate of N445.
Alternatively if you have a dorm account, you can approach your bank for a dollar denominated ATM card.

emmanuelewumi:



Okay ooo, too risky for the banks and their billions of Naira but not too risky for the average citizen that is struggling to have save 500k and below.

It is just that people don't listen.
Majority of those promoting digital agriculture don't have any farm.
Mostly ponzi scheme.
Agriculture in Nigeria is no moinmoin .
People need to go into agric to experience the challenges in the sector and forget all this sweet talks of fertile land.

prof2007:


Oga Pluto,

please, which Company sent you this update?

Cardinalstone.

Wiseoldman:


Can someone help with the above. What is the normal charges I should expect?

See the attached...

Equities snapshot.....

RabbiDoracle:


That January 2020 call to sell and the March 2020 to buy was a product of the research carried out.

I shared them but received criticism/hate in both cases. I even updated the house on the likely events that could ensue (like Fed interventions, helicopter money etc) as the February 2020 crash occurs.

It is just research. Anyone like OGG, Meshpips with flair for mathematics, engineering and forecasting ability can easily understand it.

I believe crowd/investor actions(buy, sell, hold, FOMO, YOLO, FA, TA) can still be mapped out and filtered to obtain a measurable signal.

I don too read. Make I rest my brain.

NSE has no issues but the problem is that our market is too dependent on external events.

You have really tried.
I am also being cautious about our market in its present state.
Second wave of corona virus with fall in crude oil price can scatter everything. I just hope that oil price will stay up for now.

Nezzjnr:
I'm entering the Agric sector after school

I'm going into vegetable crops and Plantain

The problem I have with Plantain is the market... Which market will be ready to get plantains harvested from 50 acres

One of the major problems with agriculture in Nigeria is marketing/market..
Do your home work properly. Don't go into agriculture because you want to help build the country, go where you are sure you can recoup your capital and earn profit.

Market activities for last week....

anow458:


Boss, who is your broker?

Cardinalstone..

Some insight into activities in the market in recent time as provided by my stockbroker;

Mopolchi:
Where can I learn the nitty-gritty of crypto so I can convert my idle dollars?

There is no time to waste, as government is already making move to regulate that space.
If you have a dorm account just get a dollar denominated ATM.
You can then go ahead to open account with any exchange of your choice that allows Nigeria to buy crypto directly with cards.... Buying is easy and so is selling, you have a better control of your money.

Mopolchi:
I don't understand how crypto currency works.

It is better you learn o.
Many had already envisaged this move by CBN and they have moved on.
The interest in crypto in Nigeria is massive.
Crypto market is getting bigger and bigger everyday, arguably now bigger than NSE

DexterousOne:


Exactly


There is no sentiment or patriotism when it comes to money


If the populace decide to put a foolish man as a president
And cheer useless policy makers to wreck the country
And the currency by extension

What I have laboured to build should not be affected by it


Look at how Dangote networth have plummeted

Even him have had enough
And will be hedging part of his wealth in America

It's a lost cause

CBN better NOT start that war......
It wont end well

It is a desperate move for a desperate situation.
It is one of the signs of economic collapse.
Most of the countries that have gone that route tend to get worse.

Look out for yourself and yours, Nigeria as a nation will be difficult to remedy no matter how patriotic one is.

Mopolchi:
So now, what will happen to my unproductive $30 that I have in my credit card now?

Use it to buy crypto.

Philantropists:
People should stop spreading false information,
Saying all dom acc funds are to be converted to Naira at bank rate is NOT TRUE

There are multinationals who own dom accs in Nigeria and require forex to repatriate their funds, so they will be forced to take Naira to their countries where it isnt legal tender ?

All maturing Eurobonds go through dom accs so they will all be paid out in Naira too?
Verify your rumours before running to comment online.

You have a point.

Mcy56:

.....but prices are not falling.
Doesn't look like flight......maybe if the chartists check their own oracles too, we may have idea of what's happening.

I don't think the PFA are the one selling. They are not short time players. They are most likely the ones buying.
The people likely to be selling are the FPI. They stopped the selling in march after they couldn't repatriate the proceeds of the one sold due to dollar shortage. As CBN continues to clear outstanding dollars obligations, expect more selling down from FPI...