Nigeria in 1min: Economic, Business and Financial Headlines – 100619


Monday, June 10, 2019 / 06:50 AM / By News Aggregator / Header Image Credit: @followlasg


Click Here To Read Latest News Updates



Nigeria’s Merchandise Trade Grew Marginally By 2.50% QoQ in Q1 2019 - Total Trade:  Total trade grew by 2.50% in Q1,2019 compared to Q4,2018, and 7.52% relative to the corresponding quarter in 2018. Source NBS Read More 

Inflation Rate May Rise to Highest Level Since January 2019 – FSDH - If FSDH Research's May 2019 inflation rate forecast comes true, Nigeria may record the highest inflation rate figure since January 2019. That would not be good news for the economy or the purchasing power of Nigerians. Source FSDH Research Read More 

Headline Inflation To Inch Up To 11.38% in May 2019 – FDC - Nigeria’s headline inflation is projected to inch up 0.01% to 11.38% in the month of May. Source FDC Ltd Read More

An OPEC+ Extension Is All But Certain – OIR 070619 - Oil prices showed some life at the end of this week on news that Saudi Arabia was holding firm on the OPEC+ cuts. Also, there are some glimmers of hope that the Trump administration won’t move forward on its proposed trade war with Mexico. Source Oilprice Read More

Weekly Economic and Financial Commentary – WE 7th June, 2019 - Data released by the National Bureau of Statistics revealed Nigeria’s trade surplus in Q1 2019 contracted by -53.2% YoY to N832 billion, largely driven by an expansion in imports. Over the period, imports expanded by 25.8% due to increased purchase of machinery which offset the decline in mineral products. Source ARM Read More

Petroleum Products Consumption Increase As NNPC Makes N174.6bn - The consumption of white petroleum products across the country increased by about 30 million litres within one month, rising from the 1.33 billion litres consumed in February this year to 1.36 billion litres in March. Source Punch Read More

Emefiele Seeks Stronger Efforts Against Global Shocks - Mr Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), on Saturday emphasised the need to strengthen efforts over the coming years to stimulate growth and create jobs in critical sectors to insulate the economy from global shocks. Source Guardian Read More


Click Here to Read More News on Economy 


Proshare Nigeria Pvt. Ltd.



Dangote Cement Plc Series 8, 9 and 10 Commercial Paper To Open Soon - Following the successful raise of N50bn in commercial paper series 5, 6 & 7 notes for Dangote Cement Plc (“DCP”), Stanbic IBTC Capital Limited is pleased to inform you of the intention of DCP to issue up to N50bn in another round of commercial paper notes (Series 8, 9 & 10) under the company’s N150bn commercial paper programme. Source Stanbic IBTC Stockbrokers Read More 

South Africa's Rand Continues To Tumble On Central Bank Worries - South Africa’s rand fell again early on Friday, reaching a new 2019 low as assurances by the ruling African National Congress about the independence of the central bank did little to ease nerves about economic policy. Source Reuters Africa Read More 

Ecobank Hosted by London Stock Exchange After Successful $500m Eurobond Issuance - Following its successful $500 million Eurobond issuance, Ecobank Transnational Incorporated (‘ETI’), the Lomé-based parent company of the Ecobank Group, was hosted by the London Stock Exchange to a market opening ceremony to celebrate the successful listing of the Eurobond on the London Stock Exchange (LSE) main market. Source Ecobank Read More 

Corporate Earnings For The Week Ending 070619 – PRESCO Declares N2.14bn PAT in Q1 2019 Results - During the week ending 070619, two (2) quoted firms declared their results. One (1) firm declared growth in revenue. AFRINSURE records 66% growth in earnings to emerge as the firm with highest growth in earnings while PRESCO records 16% negative growth in earnings to emerge as the firm with the least growth rate. Source Proshare Read More 

Investors Lose N282.16bn WoW As NSEASI Dips By -2.05% To Close The Week Negative - Equities market closed today on a negative note, as NSEASI depreciated by 0.31% to close at 30,432.13 points as against 1.30% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.18%. Source Proshare Read More

One Week After: OANDO Shares Dropped By -4.76% WoW, -20% YTD - Barely One week after, the share price of OANDO Plc has declined by 4.76% from N4.20 on Friday 31st May, 2019 to N4.00 as at the close of trading on Friday June 07, 2019, while the stock only recorded positive movement in one of the trading days during the period under review with +5.26% gain on recorded June 6th 2019. Source Proshare Read More

Proshare Nigeria Pvt. Ltd.

Market Review and Round-Up of Corporate News Announced During The Week Ending 070619 - The equities market recorded mixed performance – the listed equities market recorded -2.05%  loss WoW while the NASD OTC recorded +0.63% gain WoW. Source Proshare Read More

NASD OTC Market CAP Increased By 0.63% WoW To Close At N541.24bn - As at close of trade week on 07 June 2019, market Capitalisation increased to 541.24 billion from last week's previous 537.84 billion, which shows a 0.63% increase in Capitalisation. Also the USI for the week ending 07 June 2019 recorded an Increase from 748.62 points to 753.35 points. Source NASD Read More

What To Expect From The Markets This Week - 100619 - The CBN held off on conducting an OMO auction today, even as system liquidity currently stands at N249.34 billion. The Interbank Call rate advanced by 500bps to 10.00%. Source Proshare Read More

Interbank Money Market To Record N607bn Net Inflow In June - The interbank money market is expected to record net inflow of N607 billion this month as well as frequent liquidity mop ups by the Central Bank of Nigeria, CBN, through treasury bills. Source Vanguard Read More


Click Here to Read More News on Markets


Proshare Nigeria Pvt. Ltd.


Oando Update: SEC Aligns Principle Of Fair Hearing With Cooperation During Investigations - The attention of the SEC has been drawn to various reports questioning the regulatory authority of the SEC, and insinuating lack of due process in the investigations of Oando Plc. Source SEC Nigeria Read More

Chief Sena Anthony and Mr. Oghogho Akpata Resign From OANDO’s Board Effective June 3rd, 2019 - Oando PLC hereby notifies the Nigerian Stock Exchange (NSE), its valued shareholders, key stakeholders and the public of the resignations of its Non-Executive Directors, Chief Sena Anthony and Mr. Oghogho Akpata from the Board of Directors of Oando PLC, with effect from June 3, 2019. Source NSE Read More 

Worsening Trade Wars Pose Risk to World Economy – G20 -  The world’s top financial policymakers admitted Sunday that trade tensions had worsened, posing a risk for the global economy, after a G20 meeting that laid bare differences between the United States and other nations. Source Punch Read More

Trade Impasse Has World’s Central Banks Priming Their Engines - As central banks show increasing alarm about the world economy and a willingness to increase stimulus, finance ministers from the Group of 20 nations made little progress in curing the main threat of deepening trade tensions. Source Bloomberg Read More


Click Here To Read More News on Business


Proshare Nigeria Pvt. Ltd.



Mortgage Market Active in May –  A strong performance in April was followed by an equally active May for the UK mortgage market, which showed no signs of being affected by the slowdown facing the property sector. There were 65,801 residential mortgages approved during May 2019, up 1.2 per cent compared to the same month in 2018, according to the data from the latest Mortgage Monitor from chartered surveyors. Source Punch Read More 


Click Here to Read More News on Finance


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

Click Here To Watch More Videos   

Related News

1.       What To Expect From The Markets This Week - 100619


Related News