CORPORATE ACTIONS 2017 AND AGM DATES

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Wherever You are NOW is Your Decision

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MARKET UPDATE FOR MAY 16, 2017

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MARKET FORCES FIGHT FOR CONTROL AS INVESTORS REPOSITION, TAKE PROFIT It was a mini volatile session during Tuesday’s trading on the Nigerian Stock Exchange as the benchmark index opened sharply low in the early hours, but rose sharply by mid-day to close higher. Discerning investors saw mouth-watering intrinsic value in the share price of companies adjusted for dividend, which subsequently regained the amount deducted from their prices. Investors particularly rekindled interest in consumer goods and banking stocks,despite the ongoing profit taking mode to reverse the two day down trend. Both sectors are generally considered by the investing public as guiding indicators in assessing economic activities and conditions. Also positive news that Inflation figures slowed down marginally for the third consecutive month to 17.24%in April as released by the National Bureau of Statistics on Tuesday before market close, helped to boost the rebound. The NBS data showed that Consumer P...
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MARKET UPDATE FOR MAY 17, 2017

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INVESTORS AWAIT BUDGET 2017 ASSENT TO SUPPORT NIGERIA’S ECONOMY, EQUITY MARKET The gradual rebounding of the market after the recent pullback from bullish run is evidence of connection between the recovering economy and the stock market. If this economic recovery momentum is sustained to support the companies and market fundamentals to drive investor confidence as positive factors and news will continue to trigger demand for stocks, especially as the prices of equities remain low, compared to the intrinsic values of the companies. Also, the continued improvement in crude oil output as a result of peace in the Niger Delta to meet and surpass the benchmark output will further boost government’s revenue to fund the budget, even as the Royal Dutch Shell, which operates in Nigeria as Shell Petroleum Development Company(SPDC) says it has completed repairs of the damaged oil pipeline which forced the company to shut down the Nembe Creek Trunk line in February. This is seen as an i...
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