Saturday, April 01, 2017 02:00 PM / Proshare
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.
1. CBN to Commence Twice Weekly Forex Sales to BDCs; Increases Sales Amount to $10,000
2. FG Announces Board and Management Team of Newly Licensed DBN
3. FX Utilisation in January 2017-Symptoms of An Opaque Structure
4. FGN Savings Bond April 2017 Offer
5. A Successful Auction For The DMO Without An Approved Budget
6. NACC engages stakeholders on Budget 2017 and Nigeria’s economic recovery
7. UBA Declares N72.26bn PAT in 2016 Audited Results,(SP:N5.39k)
8. STANBIC Declares N28.5bn PAT in 2016 Audited Result,(SP:N17.7k)
9. Mr. Atedo N.A. Peterside to Resign as Chairman of the Board Of Stanbic IBTC Holdings Plc
1. Stock Market Resumes Downtrend as NSEASI Records +0.24% Gain WoW
2. Equities Market Halts Downtrend as NSEASI Inches Up by +1.05%
3. Equities Market Maintains Downtrend as NSEASI Dips by -0.55%
4. NSEASI Dips by -0.31% as Market Resumes Downtrend; Thanks to Big CAPs
5. NSEASI Inches Up by +0.12% as Market Opens The Week Positive