Invest Data Consulting Ltd

The oscillating trend in the midst of high volatility on the Nigerian Stock Exchange (NSE) continued on Thursday, reversing previous day’s down market on mixed sentiments as Q1 earnings season draws to a close. Even so, stock prices are losing momentum, despite the better-than-expected numbers released so far, and those of the 2017 December year-end reporting season. This has remained, evidently, a source of worry for many discerning investors, especially as inflow to Nigeria’s equity market remain unstable to reflect the current weak liquidity in the economy. There is no doubt that cautious trading on the part of market players, particularly the foreign investors due to political risk associated with the 2019 general elections has kept the market in this mood as it awaits a breakdown of this level or a reversal. Thursday’s trading started out with the benchmark All-Share index moving up, away from the lows, after opening weak in the morning, reaching intraday highs of 40,798....

Directors of FBN Holdings Plc, on Wednesday presented its audited result for the full year ended December 31, 2017, indicating significant improvement in the management of the operating entity- First Bank of Nigeria Limited. This can be inferred by the fact that while gross earnings was flat at 2.34% up, net profit soared by 226.88%, helped by the N75.613bn or 33.45% drop in impairment charge for credit loss from N226.037bn to N150.424bn, as ratio of Non-Performing Loans to total stood at 22.8%, up from 52.7%. The impairment charge related to its banking subsidiary- First Bank of Nigeria), whose commercial banking segment reported N148.579bn. Net profit therefore translated to Earnings Per Share of N1.21, up from just 39 kobo in the preceding full year. The directors have offered a 25 kobo dividend per share, with register of shareholders closing between May 7 and 13; while payment is slated for May 16 to those whose names appear on the register of members as at May 4. Payment ...

At a time it is fast becoming fashionable for its peers to make inroad into the United Kingdom in view of the competition of the future, the board of Diamond Bank, on Wednesday announced sealing a Share Sale and Purchase Agreement to sell its entire stake in that country. In a statement to the Nigerian Stock Exchange (NSE), Diamond Bank said its entire shareholding in Diamond Bank (UK) Plc is being sold to a member of GFG Alliance for an undisclosed amount. The statement, signed by Uzoma Uja, the company Secretary and Legal Adviser, said “the disposal is in line with (Diamond) Bank’s objective of streamlining its operations to focus resources on the significant opportunities in the Nigerian retail banking market.” The decision to focus on the Nigerian market, the bank said arises from the vast potential therein, due to its strong fundamentals, “including millions of people who are either underbanked or unbanked, and changing lifestyles that favour the use of mobile devices to ...

Nigeria’s equity market, on Wednesday, closed lower again, reversing previous day’s gain, oscillating amidst volatility, driven by resumed profit taking in highly capitalized equities amidst weakened money flow. The reversal was despite the market entry into the peak of Q1 earnings season, and notwithstanding the relatively impressive numbers emanating from quoted companies so far. The volatility has become of serious concern to investors, as money flow index continues to move up and down, reflecting weak liquidity in the market arena which had also reflected on the volume traded since the side-trending started on April 10. However, the day started out with a marginal gain, which held during mid-morning session before it rallied sharply to consolidate at midday, tested intraday highs of 40,926.72 (which is becoming the recent resistance level). It pulled back to a low of 40,589.60 by the afternoon on the strength of value loss by high cap stocks, before retracing up in the las...

The management of Dangote Cement Plc said it would have achieved much more than the 16.31% growth in sales revenue and 29.1% in profit after tax, if not for the shutdown in its Tanzania and Ghana operating plants, made worse by conflict in Ethiopia. In a management commentary at Tuesday’s 2018Q1 conference call, the management announced a 10% price increases in Ethiopia; 5% in South Africa; and “very marginal” increase in Tanzania during quarter. A bit of a price increase is still expected in Ethiopia, to fully cover the impact of last year’s currency devaluation; just as price was increased by N50/bag in Nigeria this month, “in reaction to inflation”. Dangote Cement also noted a growth in its Nigerian volume, reflecting the country’s post-recession activities, just as rising monthly government revenue continues to support infrastructure spending. This has been supported by the company’s marketing initiatives, following which the directors project a 10% volume growth or more ...

Market volatility continued on the Nigerian Stock Exchange Tuesday, halting the two trading sessions of red market, as more companies released impressive Q1 scorecards to the investing public, further revealing the stronger state of quoted companies, while giving insights into what investors should expect going into the future. NSE Index opened the day on a little gap up in the early hours of the session, which was sustained in the mid-morning before rallying in the midday until mid-afternoon when it finally reached intraday highs of 40,970.31 basis points, testing the recent resistance level from the 40,757.19 lows, before pulling back to close the day at 40,80278bps. The ability of the market to break through this resistance level will be a function of long term positioning on the strength of better company numbers as they are being posted. Due to political risk and investors would play short for safety. Right now, the index is side-trending at a KEY short-term support as ...

Market volatility continued on the Nigerian Stock Exchange Tuesday, halting the two trading sessions of red market, as more companies released impressive Q1 scorecards to the investing public, further revealing the stronger state of quoted companies, while giving insights into what investors should expect going into the future. NSE Index opened the day on a little gap up in the early hours of the session, which was sustained in the mid-morning before rallying in the midday until mid-afternoon when it finally reached intraday highs of 40,970.31 basis points, testing the recent resistance level from the 40,757.19 lows, before pulling back to close the day at 40,80278bps. The ability of the market to break through this resistance level will be a function of long term positioning on the strength of better company numbers as they are being posted. Due to political risk and investors would play short for safety. Right now, the index is side-trending at a KEY s...

Ms. Mary Uduk, Acting Director-General of the Securities & Exchange Commission (SEC), last week hosted the first Capital Market Committee (CMC) meeting for the year in Lagos and indeed her maiden outing as chief executive of the capital market regulator. The CMC provides a forum for chief executives of capital market stakeholders to discuss issues and ensure the development and orderly conduct of the Nigerian capital market. Last Friday, she along with her team, briefed newsmen on outcome of the meeting, after which Ms. Uduk fielded questions and answers from the financial press, where she took on issues ranging from plans to enforce the law that requires investors to exchange company shares only on SEC-regulated trading platforms. The interaction also dueled on forbearance, electronic Dividend (e-Dividend), e-Initial Public Offering (e-IPO), as well as the high rate companies are voluntarily delisting from the Nigerian Stock Exchange (NSE), among others. Investdata was there. ...

Nigeria’s equity market, on Wednesday, closed lower again, reversing previous day’s gain, oscillating amidst volatility, driven by resumed profit taking in highly capitalized equities amidst weakened money flow. The reversal was despite the market entry into the peak of Q1 earnings season, and notwithstanding the relatively impressive numbers emanating from quoted companies so far. The volatility has become of serious concern to investors, as money flow index continues to move up and down, reflecting weak liquidity in the market arena which had also reflected on the volume traded since the side-trending started on April 10. However, the day started out with a marginal gain, which held during mid-morning session before it rallied sharply to consolidate at midday, tested intraday highs of 40,926.72 (which is becoming the recent resistance level). It pulled back to a low of 40,589.60 by the afternoon on the strength of value loss by high cap stocks, before retracing up in the last...

In what may mean the need for more concerted efforts on the part of stakeholders in the Nigerian economy to meet the goal of 80% financial inclusion rate by 2020, a new report, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution, published by the International Bank for Reconstruction and Development (IBRD)/The World Bank Group on Thursday said 1.7bn adults, mostly women, across the globe remain unbanked. Virtually all of these unbanked (defined as adults without an account with a financial institution or through mobile money providers), the report noted, live in developing world, with nearly half of them in seven developing economies. These countries, which are among the world’s most populated are: Nigeria, China, India, Indonesia, Mexico and Pakistan. Specifically, the report jointly authored by Demirgüç-Kunt, Asli, Leora Klapper, Dorothe Singer, Saniya Ansar, and Jake Hess, noted that half or more of adults in Colombia, Ethiopia, Indones...

Leading emerging and frontier markets investment bank, Renaissance Capital (Rencap), expressed strong sentiments about the capital market and economy of Nigeria and neighbouring Ghana, which it says could rank among the strongest performers in the coming months and year. A statement by Renaissance Capital, sent to our correspondent on Tuesday, quoted Christophe Charlier, who was appointed the company’s chairman as saying it is for this reason its ground teams in both countries “are well-positioned to service clients in these (markets). Charlier equally expressed excitement about the market in Egypt, describing it “as a truly fascinating growth story set to take off in the years to come.” Announcing its financials for the full year ending December 31, 2017, with Rencap reported net profit from the core business rising by 43% year-on-year to $15.6m, which was despite the marginal 8% growth in operating income at $145m. It was driven mainly by the impressive performance of its de...