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Monday November 19,
2018 / 7:00 AM / Proshare News
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PROSHARE ECONOMY
FG Slashes 2019 Agencies Revenue by N223.36bn
-The harsh economic climate, which has resulted in a
slowdown in business activities, may have forced the Federal Government to
reduce its projected independent revenue from N847.95bn in 2018 to N624.58bn in
the 2019 fiscal period. Source Punch Read More
9 Takeaways From LCCI 2018 Nigerian Debt Sustainability Roundtable - The Lagos Chamber of Commerce and Industry established in 1888 and one of the oldest chambers and foremost private sector group in Nigeria, as part of its advocacy role in the business and economic space hosted the 2018 “Nigerian Debt Sustainability Roundtable”. Source Proshare Read More
Oil Rebounds On Hopes Of OPEC and Action – OIR 171118 - Oil prices posted some gains on Thursday and in early trading on Friday, rising on the hope that OPEC+ might agree to a production cut in early December. Source Proshare Read More
Weekly Economic and Financial Commentary - WE 16th Nov, 2018 - In the U.S, CPI data released for the month of October showed that inflation rate came in stronger during the month, rising 2.5% YoY from 2.3%YoY in the prior month. Source Proshare Read More
FG, States, Lgs Got Over N6tn In Nine Months – FAAC - Revenue disbursements by the Federation Account Allocation Committee to the three tiers of the government hit N6.226tn in the third quarter of 2018. Source Punch Read More
Pension Fund Growth Declines By 2.06% In Q2 - Nigeria’s pension fund assets growth has declined by 2.06 per cent in the second quarter (Q2) of this year. Source Nation Read More
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PROSHARE REGULATORS
NSE Releases Sustainability Disclosure Guidelines-The integration of sustainability principles to business strategy and operations are increasingly assuming higher positions on the agenda of policy makers, market regulators, businesses and investors alike. Source Proshare Read More
NSE Proposes Amendments to Dealing Members Rule(s) 7.4 and 7.5-Rule 7.4: Submission of Financial and Non-Financial Reports to The Exchange. Source Proshare Read More
No Bank Was Referenced By CBN as NOT being Compliant with 30% Minimum Regulatory Liquidity Ratio - Our attention has been drawn to a @proshare tweet on Nov 02, 2018 referenced by a financial news publication on Nov 03, 2018 titled: Are these the banks with poor liquidity ratios. Source Proshare Read More
CBN Reschedules November 2018 MPC Meeting to 21st and 22nd - The November 2018 meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has been rescheduled from Monday and Tuesday, 19th & 20th November to Wednesday and Thursday, 21st and 22nd November, 2018, as a result of the declaration of Tuesday, 20th November, 2018, as a public holiday by the Federal Government. Source Proshare Read More
Currency Swap: CBN Released N15.8bn In 3 Months To Nigerian Importers - The Central Bank of Nigeria has released N15.79 billion (297.99 million Chinese Yuan) to Nigerian businessmen under the currency swap deal. Source Daily Trust Read More
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PROSHARE MARKETS
SEC Nigeria Q3, 2018 CMC Meeting: Key Resolutions-At the end of the Q3, 2018 Capital Market Committee meeting the Acting Director-General of the Securities and Exchange Commission of Nigeria, Mary Uduk briefed capital market correspondents on the following key resolutions reached at the meeting; Source Proshare Read More
Diamond Bank Trades 59% of Total Market Volume; Hits 208.68m, Highest in 10 Months-Diamond Bank Plc (DIAMONDBNK) emerged the most traded stock in volume at the close of trade at the Nigerian Stock Exchange (NSE) on Thursday, November 15, 2018. Source Proshare Read More
NSEASI Gains On Closing of Week, Inches Up By 0.61%, YTD Returns Now At -16.17%-Equities market closed today on a positive note, as NSEASI appreciated by +0.61% to close at 31,864.80 basis points as against -0.76% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.17%. Source Proshare Read More
Market Review and Round-Up of Corporate News Announced During The Week Ending 161118 - Brent crude oil prices went down by -3.39% WoW to $67.89 per barrel. Also, WTI down by -4.83% WoW to $57.39 per barrel as at the time of writing this report. (3:47pm). Source Proshare Read More
NASD OTC Notifies of New Rules - As at close of trade week on 16 November 2018, market Capitalisation increased to ₦494.05 billion from last week's previous ₦487.98 billion, which shows a 1.24% growth in Capitalisation. Also the USI for the week ending 16 November, 2018 recorded a 1.24% increase from 702.12 points to 710.84 points. Source Proshare Read More
Forex: CBN Injects $318.03m, CNY 62.18m Into Retail SMIS - In its last sale before the final Monetary Policy Committee (MPC) meeting for 2018, the Central Bank of Nigeria (CBN) on Friday, November 16, 2018, injected the sum of $318.03million in the retail Secondary Market Intervention Sales (SMIS) of the inter-bank foreign market. Source Proshare Read More
Nigerian Eurobonds rise 45bps W-on-W as Bearish Sentiments Trail Eurobond Launch - The bond market closed on a relatively flat note, with slight interests still seen on the 2028s at c.15.83%. Yields were however higher by c.8bps w/w following a spike in yields earlier in the week. Source Proshare Read More
What To Expect From The Markets This Week - 191118 - In the U.S, CPI data released for the month of October showed that inflation rate came in stronger during the month, rising 2.5% YoY from 2.3%YoY in the prior month. The uptick was largely driven by higher energy and housing cost. However, the CPI less volatile components (i.e food & energy) moderated to 2.1% YoY (vs September: 2.2% YoY). In Asia, preliminary estimates of Japan’s GDP revealed the economy contracted by 1.2% YoY for the third quarter of 2018. Source Proshare Read More
Diamond
Bank Plc - Overblown Fright Or Justified Concerns? - Last
week, global rating agency S&P lowered its issuer rating of Diamond Bank by
one notch to CCC+ from B- majorly due to two concerns. Firstly, the rating
agency expressed concerns on the possibility of higher provisioning which will
put pressure on the bank’s capitalization. Source Proshare Read
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PROSHARE
BUSINESS
IAPM to Focus on Capacity Building, as CIIA Sets Standards for Investment Advisors in Nigeria-The Association of Investment Advisors and Portfolio Managers in Nigeria, will scale its capacity building programmes for its members to provide the best advisory services for clients. Source Proshare Read More
FG, Ban Maize Importation - Farmers - Maize Association of Nigeria (MAAN) has called on the
Federal Government to ban the importation of maize into the country to
encourage local production. Source Leadership Read More
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