Nigeria | - Part 74

Nigeria | Investors show confidence in Nigerian shares

LAGOS, Nigeria, Capital Markets in Africa — Total transactions at the Nigerian Stock Exchange (NSE) rose from N84.10 billion recorded in January 2016 to N117.27 billion (about $0.60 billion) in February 2016 (about 39.44% increase), according to data released by NSE. However, comparing to the same period in 2015, total transactions decreased by 36.44% from the N184.49 recorded in February 2015. The data also highlighted that domestic investors significantly outperformed foreign investors by 27.04%. Domestic…

Nigeria | Lafarge Africa Plc FY2015Earnings: Weak Numbers with Mixed Outlook

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LAGOS, Nigeria, Capital Markets in Africa — Lafarge Africa Plc (“Lafarge” or “The Group”) released its FY:2015 result last Thursday, 17th March 2016. The result, which is a consolidated account incorporating its new subsidiary – The United Cement Company of Nigeria Ltd (UNICEM) – showed a 2.5% growth in top-line and PBT (from continuing operations) fell 27.5% Y-o-Y to N267.2bn and N29.3bn respectively. Turnover, excluding UNICEM, was up 3.5% Y-o-Y relative to our forecast of…

Nigeria Surprisingly Raises Benchmark Interest Rate to 12%

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LAGOS, Nigeria, Capital Markets in Africa – Nigeria’s central bank Monetary Policy Committee (MPC) hikes the policy rate by 100 basis points to 12 percent after lowering it from a record 13 percent in November 2015 and kept it in January 2016, Governor Godwin Emefiele informed reporters on Tuesday in Abuja, the capital. The cash-reserve ratio was also increased to 22.5% from 20%, the Governor said. Nigeria’s inflation rate rose to 11.4% in February from a year…

Nigeria | The Inflation Conundrum …

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LAGOS, Nigeria, Capital Markets in Africa — The inflation figure for the month of February was recently released by the National Bureau of Statistics. As much as the increase was largely anticipated, the huge gallop to 11.4% came as a surprise as consensus had capped the rise at 10%YoY. The increase in the headline figure was attributed to faster increases in prices across all major divisions except Restaurant and Hotels division. The Food and Core…

Nigerian Equity Markets | 21 Mar 2016: Positive Streak Extends to 3rd Consecutive Day…NSE ASI up 81bps

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LAGOS, Nigeria, Capital Markets in Africa –— The Nigerian Equities market started the week on a positive note, extending the streak of gains in the benchmark index to the third consecutive trading day. Despite the general negative sentiments, investors still see value in some Bellwethers trading at attractive entry prices. Consequently, the All Share Index improved 0.8% to close at 25,902.95 points. Bargain hunting in GUARANTY (+4.5%), ZENITH (+3.1%) and DANGCEM (+1.8%) lifted the market into…

Sterling Bank Plc 2015 FY: Sustained Positive Momentum Amidst Harsh Operating Environment

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LAGOS, Nigeria, Capital Markets in Africa — Sterling Bank Plc (“Sterling” or “the Bank”) today (March 21, 2016) published its audited FY:2015 result on the floor of the Nigerian Bourse recording positive growth in both top and bottom lines and the first Tier-2 Bank to publish its FY:2015 earnings. We present the highlights of the result and our FY:2016 estimates. Gross Earnings up 6.3% Y-o-Y…Lifted by Non-interest incomeSterling sustained its fine form since the acquisition…

AXA Mansard Plc 2015 FY: Claims incurred on Life Pressures PAT

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LAGOS, Nigeria, Capital Markets in Africa — AXA Mansard Plc (“Mansard” or “The Company”) published its audited FY: 2015 result on March 17, 2016, on the floor of the Nigerian Stock Exchange (NSE). The Company recorded a decline in Gross Premium Written (GPW), however, Gross Premium Earned (GPE) and Profit after Tax stayed positive. We present the highlights of the result and our FY: 2016 estimates. GPW declined 4.7% Y-o-Y but GPE Rose 12.7% Y-o-Y…

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