What To Expect From The Markets This Week - 030417


Saturday, April 01, 2017 02:00 PM / Proshare 

Economic Dashboard 


From the Editor’s Desk 
The earning season has taken hold; early reports from corporate like Julius Berger, United Bank for Africa, Access Bank, Guaranty Trust Bank, Cement Company of the North have shown an accretion in revenue compared to the previous quarter. Even though the prevailing economic exposure, which is reflective of a high operating cost remain the same, compared to the previous quarter. The financial performance of other corporate institutions will be made available in the week ahead as the earning season ripens further. While it is expected that at this point of the cycle, the macro end will still display some inertia to growth. The dynamic of improved readjustment to the operating environment by firms, improved government spending and relatively soft bottom line from the third quarter, will boost micro fundamentals.    

Here are the happenings expected this week. 

Monday, April 3, 2017 
In line with its pledge to sustain liquidity in the foreign exchange market, the Central Bank of Nigeria (CBN) will commence twice weekly FOREX sales to licensed Bureaux de Change (BDCs) in the country. The sale amount to BDCs was increased to $10,000 weekly ($5,000 per bid) and a new rate will be announced today.

The newly constituted management of the Development Bank of Nigeria will resume today, setting out the agenda for the development of MSMEs in the country. Also, top management from AXA Mansard Insurance will visit the Nigerian Stock Exchange to perform the closing gong ceremony for the day.

With the formal listing last week of the FGN Retail Savings Bond at the Nigerian Stock Exchange by the Debt Management Office (DMO), Vetiva in partnership with Proshare will host a tweet meet session by 3.00pm. United Bank of Africa will be marked down haven proposed a dividend of 55kobo.

Tuesday, April 4, 2017 
National Bureau of Statistics (NBS) will release its March 2017 Monthly FACC Disbursements Report, while Nigeria-American Chamber of Commerce will commence the African Growth and Opportunity Act (AGOA) Non-Oil Export training.  

The new CEO and management of Stanbic IBTC Holdings will visit the Nigerian Stock Exchange to perform the closing gong ceremony for the day. 

Wednesday, April 5, 2017 
The two day Kaduna Investment (KADInvest) and Economic Summit will commence focusing on the theme “Ease of Doing Business Charter”.

Friday, April 7, 2017 
United Bank of Africa and Guaranty Trust Bank will hold its Annual General Meeting for its 2016 Financial Year performance with shareholders. 

CoinFest Nigeria an international gathering of BitCoiners, Crypto-Enthusiasts, Programmers/Developers, Entrepreneurs, Merchants, and the general public will hold a session focusing on the importance of the acceptance and adoption of Cryptocurrencies, and the use of Decentralized Technologies.

Saturday, April 8, 2017 
United Bank of Africa will host key guests and staff for its CEO Awards.


Check out our Events Calendar for event details and follow us on Web, TV, APP and Social Media for updates as the week unfolds. Yours to Serve! 

Contact for Details:
For further information, enquiry or submission of information, kindly contact market@proshareng.com and research@proshareng.com Tel: 0700 PROSHARE 

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