What To Expect From The Markets This Week - 040618


Saturday, June 02, 2018 08:00 AM / Proshare Content


Nigeria: Economic Dashboard @ 010618 

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From the Editor’s Desk

As the end of April 2018, Net Foreign Asset stood at N15.906 trillion reflective of a 1.8% increase when compared to the previous quarter. On a broader scale compared on annualized basis, net foreign asset of banks have grown by 118%. This growth can be attributed to two major factors which include the positive sentiments in the oil sector which has led to an accretion in the foreign reserves of banks; and an uplift from N180 billion to N3.869 trillion - on the back of growing appetite for government external securities.



Fig 1: Net Foreign Asset and Net Domestic Asset

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           Source: CBN


On the flip side, the Net Domestic Asset continued its downward trajectory as it fell from N8.683 trillion to N8.614 trillion, reflective of a 0.7% dip in the net domestic asset.  Thus, when compared to the wake of the recession, net domestic asset have fallen by 67%. The current weakness witnessed in Net domestic asset is as a result of the rise in other assets which underlines the heavy cost borne by the domestic economy.



Fig 3: Currency in Circulation and Bank reserves

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Source: CBN


Currency in circulation (CIC) rose from N1.9 trillion at the end of May reflective of a 17.3% increase when compared to the previous month. Therefore, the on-going scenario triggered an increase in cash to demand ratio from 0.18 in April to 0.27 in May.  The bank reserves at the end of month of May slipped by 1.58% to N4.288 trillion.


Regardless of the 17.3% increase in Currency in circulation offset, the faint experience in bank reserves eventually lifted base money from N6.025 trillion to N6.245 trillion. Thus, the increase in base money was purely currency in circulation induced.  


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 Other Developments

The Central Bank of Nigeria (CBN) recently released the Purchasers Mangers Index for the month of May, the leading indicator expanded to 56.5, making it 14 months of consecutive expansion. Production levels in the month of May also increased from 58.6 t0 58.8, making it 15 months of successive expansion.  

Input prices decelerated from 62.4 in April to 61 in May, thereby returning to a more subdue path. However, output prices experienced a sudden deviation from its earlier trajectory to rose from 51.3 t0 53.9; while Business activities in May expanded in a decelerated form from 56.9 to 56.5.

Fig 3: Purchasers Manager Index’s

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Source: CBN


News Post:  Manufacturing PMI Stands at 56.5% in May 2018


Read the Full Report HERE


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 Monday, June 04, 2018

Julius Berger Nigeria Plc, B.O.C. Gases Plc, NPF Microfinance Bank Plc, Lasaco Assurance Plc and NEM Insurance Plc will be marked down today by the NSE; having declared a dividend of N1.00, N0.20, N0.17, N0.04 and N0.10, respectively in the preceding week. 

The Enabling Business Environment Secretariat (EBES) will this day host a Regional Stakeholder Forum on the “2018 Ease of Doing Business and the Expected Impact on SMEs” in Edo State, while the 14th Eni Njoku Memorial Lecture holds in Nsukka.           

The 61st Session of the United Nations World Tourism Organisation (UNWTO) Regional Commission for Africa will kick off this day in Abuja, while the Batch three (3) Code Lagos Out-of-School Programme - an Initiative of the Lagos State Ministry of Education begins this day.

What did we miss?

Tuesday, June 05, 2018

The PwC Nigeria Management Training for SMEs and the CIPM Competence Management Training will hold this day in Lagos. 

The 2018 2nd Legislative National Conference themed “The Implications of Disruptive Technologies” will commence this day in Abuja, while the Women Deliver 2019 Gender Equality Colloquium holds in Lagos. 

OpenWay will this day host the Digital Pay Expo 2018 in Lagos, while the Digital Africa Conference & Exhibition 2018 kicks off in Abuja. 

NCR Nigeria Plc will hold its Annual General Meeting (AGM) this day, while MSME Hub hosts a Facebook Live Event with DIYlawNG on the topic "The implication of the revised #CompaniesandAlliedMattersAct (#CAMA) for small businesses in Nigeria".   

Wednesday, June 06, 2018

Seplat Petroleum Development Company Plc will hold its Annual General Meeting (AGM) this day in Lagos. 

Thursday, June 07, 2018           

The Official Launch of the Nigerian Green Bond Market Development will take place this day, while the Nigerian Stock Exchange and Berger Paints Nigeria Plc holds their Annual General Meeting (AGM) 

The 2018 Lagos Safety Summit and the ADVAN Chief Marketing Officers’ Forum will hold this day in Lagos, while the Academy for Entrepreneurial Studies Nigeria (AES) holds its 9th Annual National Conference.   

 Friday, June 08, 2018           

The Women In Renewable Energy –WIRE 2.0 Nigeria Conference themed “Enabling Gender Focus for Sustained Empowerment” will hold this day in Lagos.

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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!

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 Contact for Details:

For further information, enquiry or submission of information, kindly email market@proshareng.com and research@proshareng.com Tel: 0700PROSHARE (070077674273). We are waiting to hear from you!

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Latest Reports This Past Week

1. Q1 2018 Pension Asset and RSA Membership (PDF) Report - NBS

2. Manufacturing PMI Report for May-2018 - CBN


Latest Videos This Past Week

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View More Economy, Business, Finance, Investment, Creative Art Videos from WebTV Here

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Previous Week(s) Market Outlook  

1. What To Expect From The Markets This Week - 280518

2. What To Expect From The Markets This Week - 210518

3. What To Expect From The Markets This Week - 140518

4. What To Expect From The Markets This Week - 070518


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