What To Expect From The Markets This Week - 070817


Saturday, August 05, 2017 08:00 AM / Proshare  

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From the Editor’s Desk 

On Wednesday the 2nd of August 2017, members of the International Monetary Fund admitted that figures from recent data at the end of the first half of 2017 suggests that the macro conduit is experiencing some degree of relief from earlier headwinds but the recovery remains fragile.  The fund admitted that a growth projection of 0.8% will not be sufficient to make a dent in reducing unemployment and poverty.  Thus it  align with our position that qualitative growth so far still remains largely disconnected from quantitative growth and projected 0.8% growth is too faint to reverse earlier depression suffered by households. Evidently validating our long held position that a more concerted effort by both monetary and fiscal policy is needed to address the on-going hysteresis effect. Strikingly such effort can’t be achieved by sticking to the familiar circles of taming inflation and running after short term fluid benefits of hot money, which has persistently produced a stop and go economy; rather such feat can only be achieved by managing trade- off better, with the intent of leading growth and not running after paltry growth.   

Fig 1:  Unemployment and Underemployment of selected countries 


                Source: Trading Economics, CBN


On Monday, August 7, 2017, the Federal Government will offer saving bonds with 2 different tenors, precisely 2 year and 3 year tenors, respectively. Expectedly, the captive nature of the money market at this point in time coupled with the risk free nature of government securities will sustain investors’ appetite. In reaction to the offer, the overnight and open buy back rates will experience strains.

Monday, August 7, 2017 

The Federal Government Savings Bond August Offer will open today.

NEM Insurance Plc and Flour Mills of Nigeria Plc will be marked down today having declared a dividend of 8Kobo and 100kobo, respectively, while MRS Oil Plc will hold its Annual General Meeting today. 

The National Bureau of Statistics will release its Q1, Q2 2017 Household Consumption Expenditure (Food & Non-Food) and Q2 2017 Foreign Trade in Merchandise statistics today. 

Tuesday, August 8, 2017 

Smart Cities Summit Nigeria focusing on “Leveraging on technology solutions to improve the efficiency of cities” will commence today in Abuja.

Thursday, August 10, 2017 

The maiden edition of BrandCrunch Sessions, a breakfast learning session themed “Marketing in the era of Big Data: The Changing Paradigm” will hold today in Lagos.

Friday, August 11, 2017 

Dangote Sugar Refinery Plc will be marked down today having declared an interim dividend of 50kobo, while Conoil Plc holds its Annual General Meeting today. 

The National Bureau of Statistics will today release the Q2 2017 External Trade Intensity and Re Export Analysis and the Q2 2017 Port Activities. 


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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