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Lafarge and FCMB Register CP Programmes on FMDQ; Market Resumes Uptrend With 3.50% Gain in October

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Monday, November 06, 2017 3:00PM /research@proshareng.com 

Market resumes uptrend in the month of October 2017 as the NSEASI inched up by +3.50% as against -0.18% downtrend recorded in the month of September 2017 while NSE ASI YTD performance stands at +36.49% at the end of the month under review. 

On market development and regulations, the Securities and Exchange Commission (SEC) after its investigation into the activities of Oando Plc as a result of the petition (2) filed against the company communicated its finding and concluded that a forensic audit will be required to ascertain the veracity of the weighty findings. The shares of Oando Plc was placed on technical suspension as a result of this in order to protect the minority investors. 

Furthermore, the NSE Executive Director in charge of Market Operations and Technology, Mr Adeolu Bajomo, has resigned his appointment and expected to proceed on terminal leave from November 16, 2017. Earlier, the NSE Executive Director, Capital Market, Mr. Haruna Jalo-Waziri, was announced as the NSE CEO of CSCS Plc effective November 1st, 2017.   

The FMDQ OTC markets in its October 2017 spotlight highlighted that the 16th Naira-settled OTC FX Futures Contract Matured and Settled on FMDQ on Wednesday, October 25, 2017. Other activities around the FMDQ OTC market are the registration of Commercial Paper Programme on FMDQ by Lafarge and FCMB Plc and the quotation of over N17bn Wema Bank Plc Commercial Paper Notes  

In this edition of The Nigerian Capital Market Service Report, we continue the updates of our data section with latest figures on Economic indicators & Upcoming Events in the market and economy. This is to ensure that we deliver a comprehensive capital market service report that helps cover and track innovations, developments as well as service issues in the market effectively. 

In all, the October 2017 SSS Quality Report is a snapshot and aide memoire of developments in our market - tracking milestones that the investing public should be aware of. Do feel free to share your opinions/observations and feedback with us vide research@proshareng.com 

Thank you.                                                                                      

For: Analyst Editorial Board

Reshu BAGGA

CEO, The Analyst
 

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