Nigeria in 1min: Economic, Business and Financial Headlines – 110219

Monday February 11, 2019 / 7:00 AM / Proshare News

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PROSHARE ECONOMY

January 2018 Economic Update - Resurgence In FPI Flows Softens CBN Intervention Sales - After a tumultuous end in 2018 following spate of capital repatriation and paucity of flows, the Investors and Exporters Window (IEW) witnessed a rebound in activities in the month of January with inflows (ex-CBN) rising to $2.6 billion (+79.8% MoM), to account for 95% (vs. 58.4% in December) of outflows (+10.3% MoM to $2.8 billion). Source ARM Research Read More

What Is Keeping Oil Prices Subdued? - Oil prices failed to break out on Friday, as traders showed themselves cautious, voicing concerns about global economic growth. Source Oilprice Read More

Analysis of FAAC Disbursements in 2018 and Projections for 2019 - Government revenue, which has been rising since 2017, continued its upward trajectory in 2018. The rebound in federation revenue continued as a result of increases in both oil and non-oil revenue. Source NEITI Nigeria Read More

FG, Investment Partners, Sign $30bn Industrial Revolution Agreement - The federal government yesterday in Abuja signed $30 billion agreement with investment partners to foster industrial revolution in the country and boost export earnings from made in Nigeria products. Source Thisday Read More

Nigeria Spends N5.468tn On Debt Servicing In 39 Months - Statistics made available by the DMO showed that the cost of servicing the nation’s debt has been on the rise as a result of the increasing size of the debt as well as the increasing cost of debt servicing. Source Punch Read More

FG’s Technical Advisory Committee Report on Minimum Wage Ready - The report of the Technical Advisory Committee on National Minimum Wage that was inaugurated by President Mohammadu Buhari has been finalised and is ready for presentation to the president this week, barring any unforeseen circumstance. Source Thisday Read More  

Weekly Economic and Financial Commentary – WE 08 Feb, 2019 - This week, the U.S Commerce Department released the international trade in goods and services numbers for November 2018, which showed that the US trade deficit narrowed for the first time in five months to $49.3 billion from an upwardly revised $55.7 billion in October, following faster decline in imports relative to exports. Source ARM Read More

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PROSHARE REGULATORS

Anti-Money Laundering And Combating The Financing Of Terrorism Policy and Procedure Manual - The objective of this AML/CFT Manual is to set out policies and procedures to guide employees and the Bank to conduct business in accordance with applicable Anti-Money Laundering (AML) laws and regulations. Source CBN Read More

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PROSHARE MARKETS

Official Reserves Stable in January 2019; Increased by US$60m to US$43.17bn - Gross official reserves increased marginally by US$60m in January to US$43.17bn. Source FBNQuest Research Read More 

Market Closes the Week Positive as NSEASI Inches Up By 2.92% WoW - Equities market closed today on a positive note, as NSEASI appreciated by +0.31% to close at 31,529.92basis points as against +1.98% appreciation recorded previously. Source Proshare Read More

Market Review and Round-Up of Corporate News Announced During The Week Ending 080219 - The equities market recorded mixed performance – the listed equities market recorded +2.92% gain WoW while the NASD OTC went down by -3.25% WoW. Source Proshare Read More

CBN Intervenes With $279.13m, CNY 46.92m in Retail SMIS - The Central Bank of Nigeria (CBN) has again made interventions in the Retail Secondary Market Intervention Sales (SMIS) of the Foreign Exchange market totaling $279.13 million and CNY 46.92.  Source CBN Read More

Bond Market Maintains Bullish Trend as Panic Buying Sets In - The Bond market remained significantly bullish with yields compressing further by c.11bps as market players continued to aggress offers on the mid to long end of the curve. Source Zedcrest Capital Read More

NASD Plc Holds Inaugural Annual Business Breakfast Meeting 2019 - As at close of trade week on 08 February 2019, market Capitalisation decreased to ₦520.57 billion from last week's previous ₦538.07 billion, which shows a 3.18 % decrease in Capitalisation. Also the USI for the week ending 08 February 2019 recorded a decrease from 748.38 points to 724.59 points. Source NASD Read More

Industrial Goods – DANGCEM Tops on EPS, PAT Margin as BERGER Tops on PE Ratio - A quick review of the EPS ratio of the industrial goods sector reveals that DANGCEM tops and closely followed by BETAGLAS and CCNN while AVONCROWN and WAPCO lead otherwise with negative EPS. Source Proshare Read More

What To Expect From The Markets This Week – 110219 - Following five consecutive sessions in positive territory, the NSE ASI gained 2.92% w/w, following a 31bps d/d uptick at week close. Three key sectors closed in the green, with the Oil & Gas sector (+257bps d/d, +254bps w/w) taking the lead thanks to gains in SEPLAT (+575bps d/d, w/w) and ETERNA (+330bps d/d,  10.59% w/w). Source Proshare Read More

Healthcare Sector– MORISON Tops on EPS, PAT Margin and ROE - A quick review of the EPS ratio of the healthcare sector reveals that MORISON tops and closely followed by FIDSON and NIG-GERMAN while EKOCORP and EVANSMED lead otherwise with negative EPS. Source Proshare Read More

Agriculture Sector – OKOMUOIL Tops on EPS as PRESCO Tops on PE Ratio - A quick review of the EPS ratio of the agriculture sector reveals that OKOMUOIL tops and closely followed by PRESCO while FTNCOCOA and ELLAHLAKES lead otherwise with negative EPS. Source Proshare Read More

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PROSHARE BUSINESS 

CBN To Combat N1.6trn Excess Liquidity In February Amidst Rising Business Confidence - The Central Bank of Nigeria, CBN, is set to intensify its liquidity mop up efforts to deal with excess liquidity of N1.6 trillion expected in the interbank money market this month, amidst rising business confidence over improved macroeconomic conditions during the month. Source Vanguard Read More

Trade Talks to Eclipse All as Emerging-Market Bulls Take a Hit - The looming U.S.-China trade talks may be set to reveal how complacent traders have been about the dispute just as the rally in emerging markets loses steam. Source Bloomberg Read More

N3.4bn Tax Debt: FIRS To Sell Properties of 52 Firms - The Federal Inland Revenue Service is to dispose of the properties of 52 companies over tax debts valued at about N3.4bn. Source Punch Read More

Afreximbank targets $4bn FDI with Export Development Fund - African Export-Import Bank (Afreximbank) said it hopes to attract $4 billion foreign direct investment (FDI) inflow into Africa through its Fund for Export Development in Africa (FEDA). Source Vanguard Read More

Nigerian Airports Record 15.2m Passengers, 227,834 Aircraft Movements - The Federal Airports Authority of Nigeria (FAAN) has said a total of 15.2 million passengers passed through Nigerian airports in 227,834 aircraft movements in 2018. Source Thisday Read More

Guinea Gets Court Injunction, Halts NAICOM’ Business Suspension - A Federal High Court in Abuja has given an order restraining the National Insurance Commission from suspending Guinea Insurance Plc from underwriting new insurance businesses. Source Punch Read More

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