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What To Expect From The Markets This Week - 110917

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Saturday, September 09, 2017 09:00 AM / Proshare 

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From the Editor’s Desk
On Tuesday, September 5, 2017, the National Bureau of Statistics published the GDP growth figures for the second quarter of 2017.  The Nigerian Economy skirted off recession, as the economy grew by 0.55% in Q2 2017, thereby falling in line with earlier forecast of 0.8% real GDP growth for the 2017 horizon.

The wide gulf between nominal and real variables still lingered in the second quarter, thus implying that the heavy price weight borne persisted. Evidently, it will take certain policy recalibration coupled with persistent expenditure switch policies for qualitative variables to reflect in the short to medium term.  After all, the present dynamic of high unemployment and food inflation makes the Marco end farfetched from its internal balance of low unemployment and stable price levels.                            

 

Fig 1:   Growth in GDP and Oil Production per day    

Source: NBS, Proshare Research  
 

Recently, the Federal government proposed to refinance $3billion worth of treasury bills with Euro bond, thereby allowing the government to short circuit crowding as it increase money stock without strengthening the yield curve. On the flip side, the implicit cost of growing denominated debt do come with a relatively over valued real effective exchange rate, which could affect price competiveness in external trade.

Monday, September 11, 2017 

Oando Plc’s Annual General Meeting (AGM) will hold today in Uyo. Follow Proshare will be at on Twitter via @Proshare and @WebTVng for highlights from the event.

UnityKapital Assurance Plc will be marked down today having declared a dividend of 5 kobo. 

Tuesday, September 12, 2017 

Stanbic IBTC Holdings Plc and International Breweries will hold their Annual General Meeting today in Lagos 

Wednesday, September 13, 2017 

The Nigerian Pipeline Technology & Security Conference (NIPITECS) focused on pipelines and pipelines issues in Nigeria will commence today in Abuja, while the Disruptive Africa Expo 2017 holds in Lagos. 

Sunnet in partnership with IBM will today hold a one-day forum tagged “Datacenter Infrastructure Economics” in Lagos.  

Thursday, September 14, 2017 

Interswitch Connect themed “The Digital Transformation Imperative: Innovative Evolution or Disruptive Innovation” will commence today in Lagos, while Unity Kapital Assurance Plc holds its AGM.  

Friday, September 15, 2017 

The National Bureau of Statistics will today release the August 2017 Consumer Price Index & Inflation, AGO/Diesel Price, PMS/Petrol, HHK/Kerosene, Transport Fare, Liquefied Petroleum Gas (cooking gas) and Selected Food Prices Watch. 

The Showcase Entrepreneurs Fair an annual event to showcase and celebrate Nigerian Entrepreneurs will hold today at the Tafawa Balewa Square, while the 2-day Lagos Comic Convention, an event comprising of Comics, Animation, Gaming, Films and VR will commence today in Ikeja, 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 contact market@proshareng.com and research@proshareng.com Tel: 0700 PROSHARE  

 

 

 

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Latest Reports  

Nigerian Economy Emerges from Recession – Q2 2017 GDP Report

The Nigerian Capital Market Service Report – August 2017        

Proshare Confidential August 2017

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