Nigeria |

Will Nigerian Equity Markets Rebound in 2017?

LAGOS (Capital Markets in Africa) – The equity market could be headed for another tough year with economic concerns surrounding FX and weak corporate earnings continue to downplay the attractive valuations of blue chip stocks. We reiterate the strong correlation of the Nigerian equity market to oil prices and with the price of Brent crude oil hovering around $55/bbl coming into 2017, we think losses will be less steep this year with the potential for…

Nigeria recovers $177 million stolen state funds: ministry

Posted on by The Editorial Team

ABUJA (Capital Markets in Africa) – Nigeria has recovered some $151 million and eight billion naira ($26.32 million) in stolen state funds in less than two months as part of an anti-graft drive, the government said on Sunday. The West African nation launched late in December a whistleblower scheme entitling those who help find stolen assets to up to five percent of the recovered sums, part of a drive by President Muhammadu Buhari to root out…

Nigerian Equity Markets | 15 Dec 2016: Banking Stocks Drive Index Higher, SE ASI up 0.6%

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The equities market recorded gains for the 6th consecutive trading session today as the All Share Index expanded 0.6% to close at 26,559.01 points consequent on price appreciations in Banking Stocks such as UBA (+4.8%), GUARANTY (+4.4%) and ZENITH (+1.6%). Accordingly, market capitalization rose N52.1bn to settle at N9.2tn though market activity waned as volume and value traded declined 2.6% and 64.9% to close at 200.0m units and N1.5bn respectively. Banking Sector Emerges Lone Gainer…

Nigerian Equity Markets | 14 Dec 2016: Equities Rally on Stronger Buy Sentiment, NSE ASI up 1.3%

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The bullish sentiment in the Nigerian equity market was sustained as the All Share Index further appreciated 1.3% today to close at 26,407.64 points. Performance was largely driven by price appreciation in DANGCEM (+1.9%), FORTE (+10.2%), SEPLAT (+6.7%) and GUARANTY (+3.0%). Consequently, market capitalization grew N115.7bn to close at N9.1tn. Activity was however mixed as volume traded declined 45.5% to 205.3m units and value traded surged 77.4% to N4.3bn with a total of 3,275 deals. Consumer Goods…

Nigeria: Contraction in Household Spending Drags Half Year 2016 GDP by Expenditure

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The National Bureau of Statistics (NBS) late last month released Q1 and Q2 2016 GDP by expenditure data. Expectedly, the data showed the economy on a sticky wicket, which is in line with observations from supply side computations released for the two-quarters much earlier in the year. However, the statistics give us a better view of structural and cyclical demand-side drivers of the business cycle. For the two quarters,…

Nigeria Capital Markets Update Week Ending Nov 18 2016

Posted on by The Editorial Team

Equities Market Review and Outlook The bearish trend in the local bourse was unrelenting this week in continuation of last week’s performance as the equities market closed in the red on all trading days owing to negative sentiment towards large cap stocks across sectors. Accordingly, the All Share Index (ASI) fell 2.4% W-o-W to settle at 25,537.54 points whilst YTD return worsened to -10.8%. Market capitalization also contracted N218.1bn to close at N8.8tn. The benchmark…

Nigeria Capital Markets Update Week Ending Nov 11 2016

Posted on by The Editorial Team

Equities Market Review and Outlook Unperturbed by events in the global political environment, the Nigerian equities market maintained its bearish momentum. The local Bourse closed lower all through the week save for Thursday due to strong interest in Banking Stocks. Consequently, the All Share Index (ASI) slumped 3.0% W-o-W in contrast to the dramatic surge in share prices in major exchanges around the world. The weak performance of the benchmark index was driven by heavy…

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