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Monday January 28, 2019 / 7:00 AM / Proshare News
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PROSHARE ECONOMY
India’s Diversion of Sugar for Ethanol Production Is Expected to Drive up Prices - Oil prices have recovered strongly since December 2018, with Brent now hovering above $61pb. This is likely to boost fiscal and export revenues in Q1’19. Source FDC Read More
Glimmer of Hope - Macro and Markets: 2018 Review and 2019 Outlook - Global growth in 2019 is expected to remain under pressure due to the geopolitical tensions, particularly the US-China trade war, policy normalization in the United States and the current divorce deal between Europe and the U.K in conjunction with other country specific factors in most emerging and frontier markets. Source Investment-One Research Read More
Oil Prices Unmoved By Venezuela Turmoil - Oil prices rose somewhat on Friday morning, but gains were capped by uncertainty about the U.S.-China trade conflict, a rising rig count and concerns about global economic growth. Source Oilprice Read More
Weekly Economic and
Financial Commentary – WE 25th Jan, 2019 - Data released during the week, showed
that the Chinese economy expanded 6.4% YoY (Q3 18: 6.5% YoY) in Q4 2018. The
deceleration largely reflects trade disputes with the US and waning domestic
demand. Source ARM Read
More
AMCON Recovered N1tn from Debtors in Eight Years–FG - Since the commencement of operations of the Asset Management Corporation of Nigeria in 2010, about N1tn had been recovered from debtors of banks whose loans were taken over by the corporation. Source Punch Read More
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PROSHARE REGULATORS
CBN Publishes Banknote Fitness Guidelines - One of the mandates of the Central Bank of Nigeria is the issuance of Legal Tender Currency in Nigeria. Source CBN Read More
ABCON To CBN: Make Bdcs Direct Agents Of Imtos - The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN) to implement provisions of its 2014 circular by making BDCs direct agents of international money transfer operators (IMTOs) as obtained in other countries. Source TheNation Read More
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PROSHARE MARKETS
New Listings and De-Listings in 2018: Market Records One New Listing and Four De-listings - The listing of new companies on an Exchange has been one of the measurable ways to gauge the growth of The Exchange. The new listing on the NSE in 2018 has been listings by introduction as the market has witnessed very minimal IPOs during the year. Source Proshare Read More
Access Bank to Hold Court Ordered Meeting on March 05, 2019 - An Order of the Federal High Court, sitting at Lagos (hereinafter called the Court) dated the 24th day of January, 2019 made under the hand of the Honourable Justice O. O. Oguntoyinbo in the above matter. Source NSE Read More
GNI Plc: Voluntary Delisting of Entire Issued Share Capital from the Daily Official List of The NSE - Further to our market bulletin of 13 December 2018 notifying Dealing Members of the approval of the application filed by MBC Securities Limited on behalf of Great Nigeria Insurance Plc (GNI or the Company). Source NSE Read More
NSEASI Inches Up By 1.36% WoW; Closes Above 31,000bpts - Equities market closed today on a positive note, as NSEASI appreciated by +1.41% to close at 31,426.63 basis points as against +0.36% appreciation recorded previously. Source Proshare Read More
Market Review and Round-Up of Corporate News Announced During The Week Ending 250119 - The equities market recorded mixed performance – the listed equities market recorded +1.36% gain WoW while the NASD OTC went down by -1.33% WoW. Source Proshare Read More
NASD OTC Market CAP Moved Down By 1.33% WoW - As at close of trade week on 25 January 2019, market Capitalisation decreased to ₦534.78 billion from last week's previous ₦541.99 billion, which shows a 1.33 % decrease in Capitalisation. Source NASD Plc Read More
Bond Yields Moderate on Renewed Demand Interests - The bond market closed the week on a positive note, as yields closed lower by c.5bps on average across the curve. Demand interests remained on the mid- & long-end as yields compressed on the 28s (-7bps) and 37s (-14bps) respectively, while there were smaller volumes traded on other maturities. Source Zedcrest Capital Read More
Bond
Market: Safety In A Season Of Uncertainty - Nigeria’s bond market
was upbeat in 2018. The increase in recurrent fiscal and capital expenditure
resulted in the federal government borrowing more money from both the local and
foreign capital markets, leading it to issue fresh bonds and bills. Source
Proshare Read More
What To Expect From The Markets This Week – 280119 - After recording gains in four out of five sessions, the ASI posted another positive w/w return, gaining 141bps and erasing YTD losses to 0.01%. Sector-wise, the Banking sector (+410bps d/d, 715 w/w) was the best performer for the day and week following upticks in DIAMOND (+10.00% d/d, w/w), ZENITH (+698bps w/w) and GUARANTY (+798bps w/w). Source Proshare Read More
Forex Intervention: CBN Injects $289.76m, CNY 38.70m Into Retail SMIS - Following its maiden Monetary Policy Committee (MPC) meeting for 2019, the Central Bank of Nigeria (CBN) on Friday, January 25, 2019, injected the sum of $289.76million into the retail Secondary Market Intervention Sales (SMIS) and CNY38.70million in the spot and short-tenored forwards segment of the inter-bank foreign market. Source CBN Read More
Trading Statistics in 2018 – Total Market Volume Increased By 5.92% - Trading activities in the Nigerian equities market closed the year 2018 with a -17.81% YTD loss as against a +42.30% YTD gain and -6.17% YTD loss recorded in 2017 and 2016 respectively. Source Proshare Read More
NSE May Review Free Float Rule, Maintain Liberal Delisting Rule - Following The Increase In The Flouting Of Free Float Rule By Quoted Companies, The Nigerian Stock Exchange, NSE, Is Considering Reviewing The Rules To Ensure That Companies Comply With The Post Listing Requirement And Avoid Being Delisted From The Exchange. Source Vanguard Read More
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PROSHARE BUSINESS
Remarks by Dr. Jumoke Oduwole at the Launch of the Small Claims Courts in Kano State - It is indeed my pleasure to be here this morning at the Launch of the Small Claims Courts in Kano State. Source Vice President Office Read More
NBCC January 2019 Breakfast Discusses Economy and Business Outlook - Nigeria British-Chamber of Commerce (NBCC) hosted its first breakfast meeting for the year on Thursday, January 24, 2019. Source Proshare Read More
Reduce Vehicle
Import Tariff To 15%, LCCI Urges FG - The Lagos Chamber of
Commerce and Industry has joined in the calls for the review of the Automotive
Policy, which was proclaimed by the Goodluck Jonathan administration in 2013.
Source Punch Read
More
Discos Face Sanctions As Metering Scheme Suffers Delay - Electricity consumers have yet to feel the impact of a scheme introduced last year to expedite the deployment of meters as its implementation has been delayed. Source Punch Read More
4,000 Bdcs Pass Through Anti-Money Laundering Reporting Drills - No Fewer Than 4,000 Bureau De Change (BDC) Operators Across The Six Geopolitical Zones Of The Country Have Passed Through The Rigours Of Trainings On Anti-Money Laundering And Countering The Financing Of Terrorism (AML/CFT). Source Guardian Read More
Davos: Africa Must Embrace
Inter-Regional Trade – Elumelu - Chairman of United Bank for Africa, UBA, Plc,
Mr. Tony Elumelu, said Africa must embrace inter-regional trade to fast-track
the development of the continent.Source Vanguard Read More
'Get A Grip On Brexit', Businesses Tell UK's Quarrelling Politicians - British businesses implored politicians on Monday to stop quarrelling over Brexit and agree an orderly exit from the European Union, as some big firms set up emergency situations rooms to cope with the possible tumult of a no-deal divorce. Source Reuters Read More
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News on Business
PROSHARE TECHNOLOGY
Artificial
Intelligence for Investment Research and Trading Insight - Banks and
investment organizations usually have large research teams that are tasked with
investigating and monitoring events that might affect financial trading
markets. Source Emerj Read More
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PROSHARE FINANCE
Buhari
Inaugurates CBN Project at UNEC - President Muhammadu Buhari has
inaugurated the world-class Post-Graduate Centre of Excellence at the
University of Nigeria, Enugu Campus (UNEC) constructed and donated by the
Central Bank of Nigeria (CBN), which he lauded for making huge investments for
the overall development of the country. Source CBN Read More
NGO Sues FIRS Over Sponsorship of Entertainment Concerts - The Laws and Rights Awareness Initiative has, through its trustees, brought an action against the Federal Inland Revenue Service (FIRS) at the Abuja Division of the Federal High Court. Source Lawyard Read More
Insurance
C-level Appointments - Elect to Know Those Appointed - When in
the next generation, companies consider requesting their customers to vote for
persons who should be their CEOs, it will be most interesting to see how
policyholders decide the CEOs for their insurance companies in Nigeria. Source
Ekerete Ola Gam-Ikon Read
More
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News on Finance
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