Nigeria in 1min: Economic, Business and Financial Headlines – 300419

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 Monday, April 29, 2019 / 06:40 AM / By News Aggregator / Header Image Credit: @AsoRock

 

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PROSHARE ECONOMY

Manufacturing PMI Stands at 57.7% in April 2019 From 57.4% in March 2019 - The April 2019 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period April 9-13, 2019. The respondents were purchasing and supply executives of manufacturing and non-manufacturing organizations in all 36 states in Nigeria and the Federal Capital Territory (FCT). Source CBN Read More
Reps Panel Backs IMF, Says Fuel Subsidy Outdated - The Chairman, House of Representatives Committee on Petroleum (Downstream), Mr Joseph Akinlaja, has expressed his support for the removal of subsidy on Premium Motor Spirit, also known as petrol, as recommended by the International Monetary Fund. Source Punch Read More
Nigeria’s Population Now 201m, Says UN - The United Nations Population Fund (UNFPA) has stated that Nigeria’s population currently stands at an all-time high of 201 million, representing an increase of 5.1 million from the 195.9 million it said the country had in October last year. The UNFPA in its 2019 State of the World Population report published on its website, said the country’s annual growth rate has been at an average of 2.6 per cent from 2010 to 2019. Source Thisday Read More

 

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PROSHARE MARKETS 

Domestic and Foreign Portfolio Participation in Equity Trading - March 2019 - On a monthly basis, The Nigerian Stock Exchange polls trading figures from market operators on their Foreign Portfolio Investment (FPI) flows. Source NSE Read More 

UNITYBNK Declares N464.68 million PAT in Q1'19 Result,(SP:N0.87k) - Today, Unity Bank Plc released its unaudited first quarter results for the period ended March 31, 2019.Gross Income grew by +14.3% to N10.04bln from N8.79bln in the previous quarter. Source NSE Read More 

STANBIC Releases Q1'19 Results; Declares N19.15bn PAT in Q1 (SP:N47.00k) - Today, Stanbic IBTC Bank Plc released its unaudited first quarter results for the period ended March 31, 2019. Gross Earnings grew by +2.3% to N58.69bln from N57.38bln in the previous quarter. Source NSE Read More 

WEMABANK Declares N1.14bln PAT in Q1 2019 Results,(SP:N0.76k) - Today, Wema Bank Plc released its unaudited first quarter results for the period ended March 31, 2019. Interest Income grew by +27.2% to N16.07bln from N12.64bln in the previous quarter. Source NSE Read More 

Zenith Bank Q1 2019 Results Review: Shares Undervalued - Although Zenith Bank’s (Zenith) Q1 2019 PBT came in well ahead of our estimates, PAT was broadly in line, due to a negative result of –N6.6bn in other comprehensive income. Source FBNQuest Research Read More 

DANGCEM Declares N60.25bn PAT in Q1'19 Results; Earnings Disappoint, EPS Contracts By 16.5% YoY - Today, Dangote Cement Plc released its unaudited first quarter results for the period ended March 31, 2019. Revenue declined by -0.8% to N240.15bln from N242.11bln in the previous quarter. Source NSE Read More 

Afrinvest Stock Recommendation For The Week 290419 - Bearish sentiments dragged the performance of the All Share Index (ASI) last week despite positive earnings releases of some listed companies. Source Afrinvest Research Read More 

DANGCEM Q1’ 19 - Mounting Competition, Margin Erosion, Declining Earnings - Dangote Cement Plc (Dangcem) Q1 2019 result released over the weekend validated our postulations, with the group revenue declining 0.8% YoY to N240 billion (in line with our forecast of N238 billion), largely emanating from Nigeria. Source ARM Research Read More 

Average Yield Contracts to 13.1% Amidst Buying Interests; PMA Holds on Thursday - The Treasury bills ("T-Bills") secondary market last week sustained its bullish run for the fourth consecutive week as improved system liquidity fueled buying interests by investors. Source Afrinvest Research Read More 

FCMB Declares N3.62bn Profit in Q1 2019 Results, (SP:N1.80k) - Today, FCMB Group Plc released its unaudited first quarter results for the period ended March 31, 2019. Gross Earnings grew by +4.1% to N43.90bln from N42.17bln in the previous quarter. Source NSE Read More 

Investors Lose N82.43bn As NSEASI Dips By -0.74% To Open The Week Negative - Equities market closed today on a negative note, as NSEASI depreciated by -0.74% to close at 29,521.90 points as against 0.60% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -6.08%. Source Proshare Read More

OKOMUOIL Declares N1.01bn PAT in Q1 2019 Results (SP:N72.50k) -  Okomu Oil Palm Company Plc released its unaudited first quarter results for the period ended March 31, 2019. Source NSE Read More 

UBN Declares N5.27bn PAT in Q1 2019 Results,(SP:N7.00K) - Union Bank of Nigeria Plc released its unaudited first quarter results for the period ended March 31, 2019. Source NSE Read More 


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The Okomu Oil Palm Plc Q1 2019 - Worrisome Start To The Year - The Okomu Oil Palm Plc released its first quarter 2019 result on Friday which showed significant contraction in PAT by 71% YoY to N1 billion, translating to an EPS of N1.06. The depressed performance emanated from material decline in revenue and higher production cost. Source ARM Read More 

Fidelity Bank Plc Q1 2019 Conference Call and Earnings Presentation - The Key Takeaways - Fidelity Bank Plc held its Q1 2019 Investors and Analyst Conference Call Earnings Presentation. Proshare NG participated along with leading market analysts and professionals. Source Proshare Read More 

FG to Broaden Partnership With Nigerian Capital Market to Deepen Economy - Minister for Industries, Trade and Investments Dr. Okechukwu Enelamah disclosed this at the formal closing gong ceremony at the Nigeria Stock Exchange (NSE). Source Proshare Read More

 

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PROSHARE BUSINESS

National Data Protection Regulations – Legal Alert - The value, benefits, significance and risks associated with Data Information and Privacy, to modern daily activities, is no longer under-rated. Source Oserogho & Associates Read More

Strong U.S. Growth, Weak Inflation Leave Fed Stuck Happily On Hold - The Federal Reserve is expected to hold interest rates steady at its policy meeting this week as policymakers balance recent stronger-than-expected U.S. economic growth against sluggish inflation. Source Reuters Read More

Oil Dips On Expectations Of Rising Output, China Stutter - Oil prices dipped on Tuesday on expectations rising output from the United States and producer club OPEC would offset most of the shortfall expected from U.S. sanctions on Iran, but analysts said markets remained tight. Source Reuters Read More 

Poll Suggests Global Tightening Cycle Over Ahead Of U.S. And UK Rates Decisions - Major central banks are done tightening policy, according to a majority of economists polled by Reuters, with the growth outlook wilting across developed and emerging economies along with scant prospects for a surge in inflation. Source Reuters Read More


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PROSHARE FINANCE

Closing The Funding Gap In Social Infrastructure - Making The Case For Adoption Of Endowment Funds - Nigeria's GDP is growing below its population growth rate of 2.6%. The country is expected to become the third-most populous country in the world by 2050. Source PwC Read More

 

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