What To Expect From The Markets This Week - 120518

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Saturday, May 12, 2018 08:00 AM / Proshare Content
 

Nigeria: Economic Dashboard @ 110518

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From the Editor’s Desk 

According to the recently published FMDQ bulletin, the total turnover of fixed income instrument in March 2018 stood at N6.74 trillion, reflective of a 7.4% increase in turnover when compared to the previous month. 

Outstanding Treasury Bills sustained its upward trajectory at the end of the period under review, as it rose from N12.6 trillion in February 2018 to N13.2 billion in March; thus, beefing up the outstanding treasury bills mass by 4.8%. Outstanding federal government bond at the end of March rose to N10.95 trillion, as it reflects a 48% astronomical increase when compared to the end of 2017. 

The astronomical increase pinpoint to the administration’s current stance of shifting from short term financing instrument to long term financing instrument to fund the budget with the aim of reducing the pace witnessed in interest recurrent expenditure. 

The 6 to 12 month bucket made up of 48% of the total fixed instrument traded throughout the first quarter of 2018. The spread between the 10yr and 3 year closed -1.12 in March and -0.54 over the entire quarter.    

 

Fig 1:  Fixed Instruments from October 2017 – March 2018

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Source: FMDQ

 

 

 

Fig 2: Secured Placement over 12 months 

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Source: FMDQ

 

The total amount of repos traded in the month of March alone stood at N2.62 trillion, therefore rising by 28.93% when compares to the previous month of 2017.  Thus, average repos in the first quarter of 2018 stood at N2.177 trillion dipping by 18.2% and 27% compared to the previous month and corresponding quarter. However, average overnight fell from 19.91% in February to 15.97% in March. The muted dynamic sterilization approach adopted by the Central Bank in the first quarter of 2018 coupled with improved dollar liquidity has rubbed positively on overnight rate. 
 

Read the FMDQ OTC March Bulletin HERE
 

Other Developments 

In the week ahead the National Bureau of Statistics (NBS), will make available Inflation figures for the month of April 2018. In recent times, headline inflation has experienced two months of sustained decline on the back of renewed momentum in base effect, persistent decline in both input and output price coupled with pronounced deceleration in the pace of food inflation. Thus, it is expected that inflation will maintain the current trajectory in the month of April, as it further cave inwards.    

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Monday, May 14, 2018

The Lagos Business School will commence receipt of Applications for its Research Workshop 2018 this day, while Fidelity Bank Plc will be marked down by the NSE; having declared a dividend of N0.11 in the preceding week.
 

What did we miss?
 

Tuesday, May 15, 2018

UAC of Nigeria Plc and Okomu Oil Plc, will be marked down by the NSE this day; having declared a dividend of N0.65 and N3.00, respectively in the preceding week. 

The Brandzone Consulting #LightUpNigeriaConference themed “Repositioning the Energy Sector for Growth” and the FBN Holdings Annual General Meeting (AGM) will hold this day in Lagos; while the TechFest Event and the ConMin West Africa Conference will kick off this day in Lagos and Abuja, respectively. 

The Ripples Nigeria Dialogue which will lead by Prof. Wole Soyinka on the subject “Can Nigeria be fixed” and the Centre for Democracy & Development Political Parties Discussion Series will hold this day in Lagos and Abuja, respectively. 

The Chartered Institute of Personnel Management of Nigeria (CIPM) Training on “Competency Management” and the Solar Future Nigeria Conference will commence this day in Lagos and Abuja, respectively; while Total Facilities Management Limited hosts a Facilities Management Forum in commensuration of the World Facilities Management (FM) Day and the Lagos International Maritime Week 2018 kicks off this busy Tuesday.
                     

Wednesday, May 16, 2018

The National Bureau of Statistics (NBS) is scheduled to release the Automotive Gas Oil, Liquefied Petroleum Gas, National Household Kerosene and Premium Motor Spirit Price Watch for April 2018 this day, while Rencap holds its Investors Conference on the same date in Lagos. 

Lafarge Africa Plc will hold its Annual General Meeting (AGM) this day in Lagos, while Meristem’s Financial Statement, Company & Industry Analysis Training kicks off on the same day. The IDC CIO Summit 2018 holds this day in Lagos.
 

Thursday, May 17, 2018           

Seplat Petroleum Development Company Plc will be marked down by the NSE; having declared a dividend of $0.05 in the preceding week. 

The National Bureau of Statistics (NBS) is scheduled to release the Consumer Price Index (CPI) and Inflation Report for April 2018 this day, while Sterling Bank Plc equally holds its Annual General Meeting (AGM). 

The Nigerian American Chamber of Commerce (NACC) will hold its May 2018 Breakfast Meeting this day, while the Enterprise Development Centre (EDC) of the Pan-Atlantic University will hold its Work Life Balance Series on the same day.
 

Friday, May 18, 2018           

The National Bureau of Statistics (NBS) is scheduled to release the Selected Food Prices and Transport Fare Watch for April 2018 this day, while the Valedictory Address by the Outgoing President of the Chartered Institute of Bankers of Nigeria (CIBN), Prof Segun Ajibola, will hold this day in Lagos.
 

Saturday, May 19, 2018

The Chartered Institute of Bankers of Nigeria (CIBN) Investiture of its New President will hold this day in Lagos, while the 2018 Blockchain & Cryptocurrency Conference will equally kick off on the same date. 

The 2018 Young Professionals Lagos (YPLagos) Event will hold this day.


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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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