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Friday March 29, 2019 / 7:00 AM / By News Aggregator
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PROSHARE ECONOMY
The World's Largest Oil Company And Petrochemical Company Merge - With a statement to the press, Aramco CEO Amin Nasser reported that Aramco has acquired a 70 percent stake in SABIC, with an estimated value of $69.1 billion. Source Oilprice Read More
MPC Cut Benchmark Interest Rate By 50bps - The monetary policy committee (MPC), at its meeting on March 25/26, took investors by surprise by cutting the monetary policy rate (MPR) by 50bps to 13.5%pa. This happened after it maintained status quo for 16 consecutive sessions (33 months). Source FDC Read More
FG Issues 21 Hydropower, Other Licences - The Nigeria Integrated Water Resources Management Commission has issued licences to Nestle Water and Winners Power Gardens companies for water supply and hydropower construction respectively. Source Punch Read More
External Reserves Rise To Six-Month High Of $44.14bn - The nation’s foreign exchange reserves have increased to a six-month high of $44.14bn, data obtained from the Central Bank of Nigeria on Thursday showed.The external reserves have gained over $1.8bn since February 28, when it dropped to its 2019 low of $42.296bn. Source Punch Read More
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PROSHARE MARKETS
PZ Cussons
Nigeria Plc Q3 2019 - Lower Sales, Sticky Cost, Poor Earnings - The
intense cross product competition in the home and personal care (HPC) segment
further exerted pressure on PZ Cussons’ operation over its FQ3 191 financial
year (to recall, the company’s financial year runs from June to May) results
released after the close of market yesterday.
Source ARM Read More
Ahead Of FY2018 Results: Unity Bank Likely To Turn A Corner - Market analysts are keeping vigil over the FYE 2018 results of Unity Bank Plc with a slight sense of unease. Running off the back of a dismal 2017 performance stakeholders are troubled by the fact that the bank’s recent problems with non -performing assets (NPLs) could poke holes in its profit numbers. Source Proshare Read More
NSEASI Inches Up By 0.01% Amidst Negative Market Breadth - Equities market closed today on a positive note, as NSEASI appreciated by 0.01% to close at 30,833.50basis points as against 0.67% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -1.90%. Source Proshare Read More
ETI Declares N102.17 bln PAT in Q4'18 Results,(SP:N13.20k). Source NSE Read More
ALERT:
88.81% of Total Market Volume Traded on WEMABANK Shares Today - This
represents 88.81% of the total market volumes of 1.27bn and while the value of
WEMABANK shares traded represents 45.48% of the total market value traded which
was put at N2.80bn. Source Proshare Read More
United
Capital Holds 2019 AGM, Pays 30k Dividend To Shareholders - One of
Nigeria’s leading investment banking groups United Capital, today hosted its
2019 Annual General Meeting at the Oriental Hotel, Lagos. Source Proshare Read More
Bond Market
Trades Flat, Despite Significant Cut in Auction Rates - The FGN
Bond market traded on a relatively flat note despite the significant cut in
stop rates at yesterday’s auction. We witnessed slight demand on the short end
of the curve (23s & 24s) countered by some profit taking on the 2028s which
trended higher by c.20bps on the day, (having compressed significantly in the
previous session). Source Zedcrest
Capital Read More
FG Plans To Borrow N1.6tn In 2019 —DMO - The Director-General, Debt Management Office, Ms Patience Oniha, has said the Federal Government plans to borrow N1.6tn to fund the 2019 budget. Oniha said the government had been reducing its level of new borrowings, as it dropped from N2.2tn in 2017 to N1.6tn in 2018. Source Punch Read More
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PROSHARE BUSINESS
How Nigeria can
Leverage The AfCFTA - Prof Oramah - Barriers to trade have kept African economies in silos of
underperformance; not only have the trade walls prevented economic growth, but
they have also led to a social distancing of people and cultures. Source
Proshare Read More
Dangote, Ovia, Elumelu, Others Named Nigeria’s Top 10 Philanthropists - In the latest edition of the magazine which looks at the stakes and contributions of Nigeria’s largest private foundations, the magazine lists the top 10 philanthropists leading the pack of individuals that have committed substantial part of their wealth to philanthropy and humanitarian services. Source Leadership Read More
U.S., China Resume
Trade Talks In Beijing After 'Productive Working Dinner' - U.S. Treasury Secretary
Steven Mnuchin said on Friday he had a “productive working dinner” the previous
night in Beijing, kicking off a day of talks aimed at resolving the bitter
trade dispute between the world’s two largest economies. Source Reuters Read
More
Boeing Sued Over
Ethiopia Crash as Plane Orders in Asia Waver - Boeing Co. was sued on behalf of a
passenger killed in this month’s 737 Max plane crash in Ethiopia and orders for
the troubled aircraft wavered in Asia, deepening the planemaker’s legal and
financial woes. Source Bloomberg Read
More
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PROSHARE FINANCE
Buhari Launches Micro Pension
Plan For Informal Sector
- President Muhammadu Buhari yesterday at Asso Villa, Abuja, formally launched the Micro Pension Plan
(MPP).It is part of Federal Government’s initiative to achieve financial
inclusion, a diversified and inclusive economy. Source TheNation Read
More
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