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Market Update For June 29 The Nigerian Stock Exchange benchmark All-Share index closed higher on Monday, strengthened by positive sentiments for Consumer Goods ranging from agribusiness to healthcare stocks which appreciated in value. The growth was propelled by the window dressing amidst the Q2 end window dressing by fund managers, even as market players balanced their portfolios in preparation for trading during the second half of the year. The oscillating crude oil prices at the international market is due to the rising incidences of the novel coronavirus pandemic across the world, resulting in mixed sentiment and outlook that has kept the market lower for almost the entire session. There was however demand for high cap stocks at the last minutes which impacted the day’s trading positively, extending the previous session’s bull-run. The unfolding events and news around the market, economy and politics suggest further challenges ahead that may weigh down the stock market in

The Central Bank of Nigeria (CBN) on Sunday night decried the operation of a fraudulent twitter handle- @YusufPhilipYila, purportedly belonging to its Director, Development Finance Department, Philip Yila Yusuf. According to CBN’s Director of Corporate Communications, Isaac Okorafor, the impostor handle has been posting messages related to the bank’s N50bn Targeted Credit Facility (TCF) with the intent of wooing unsuspecting loan seekers and owners of small-scale businesses to enter into correspondence with the owner of the fake handle. Okorafor warned unsuspecting members of the public not to have anything to do with the said twitter handle. According to him, “Although the CBN, through the NIRSAL Microfinance Bank (NMFB), has indeed disbursed loans to successful beneficiaries under its COVID-19 Targeted Credit Facility, none of the Bank’s officials engages in direct interactions with prospective or successful applicants. “We therefore find it embarrassing that Mr. Yusuf ha

The Securities and Exchange Commission (SEC), on Sunday warned the general public against the activities of Ponzi and other fraudulent schemes such as blockchain and cryptocurrency promoters. The commission disclaimed the activities of such companies which are neither registered nor regulated by her, stressing that any person dealing with them in any manner whatsoever, does so at his/her own risk. The SEC statement said the suspected promoters operate under identities such as: Loom Nigeria Money, Box Value Trading Company Ltd, Now-Now Alert, Flip Cash Investment, Result Investment Nigeria Limited, Helping Hand and Investment and No Failure Development and Empowerment Nigeria Limited. It listed others as: “MBA Forex and Investment Ltd, Federate Investors Trading Company, Jamalife Helpers Global Ltd, Flexus Global Solutions and Investment Ltd, United Capital Investment Company Limited.” Recall that the SEC recently raised the alarm over the proliferation of unlawful and unlice

Flag 26% Exposure By Banks To Oil Sector Members of the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) say the nation’s fiscal and monetary authorities must utilize this period of the Coronavirus (COVID-19) pandemic outbreak to recalibrate economic policies, including protecting foreign reserves. At the MPC meeting, members voted by majority decision cut the benchmark Monetary Policy Rate (MPR) by 100 basis points to 12.5%, while retaining all other rates. In their personal statements during the meeting held on May 25, 2020, members noted the need for a realistic and stable exchange rate that protects foreign reserves and support investors’ confidence in the economy. According to Prof. Festus Adenikinju in his own statement, there is need for the fiscal authority (government) to see this as an opportunity to “significantly cut down on the costs of governance at all levels; permanently remove the oil subsidy and develop a framework for phased removal of electri

Forecast 2.5% Loan Book Contraction Global rating agency- Fitch, says Nigeria’s banking industry is among those it described as “the most systematically fragile,” ranking 117th of 121 countries assessed as shown in its Banking Industry Risk Indicator (BIRI) with a score of 12.14%. The ranking, Fitch noted in its Banking & Financial Services Report Q3 2020, reflects the high risk occasioned by the country’s “weak economic growth in the wake of the 2016 recession and declines in oil sector revenue, alongside a weak regulatory environment and poor living standards.” This weakness of the Nigerian banking industry, it warned, poses significant risks to the nation’s macro financial stability, despite the somewhat improvement in the structural backdrop of the sector. “However, the latest score remains below the historical average of 21.72,” it noted further, even as the nation recorded 46.84 Financial component in Q120, reflecting a moderate improvement from a 23.38 in 2017Q4.

Market Update For Week Ended June 26, & Outlook for June 29—July 3 It was another week of distribution and volatility on the Nigerian Stock Exchange (NSE), with the All-Share Index closing marginally higher. This followed last-minute ‘buy’ interests in high priced stocks like Airtel Africa and Nestle Nigeria, as investors and traders positioned ahead of their dividend qualification date, and Annual General Meeting respectively on Friday. The situation halted the bearish mood of the market on a seemingly improved buying sentiment. It was also a week of disappointing news, including the release of troubling economic data with the World Bank projecting that Nigeria’s economy will contract by as much as 5.4% in 2020. The nation continued to record a significant increase in the number of novel Coronavirus (COVID-19) pandemic cases, occasioned by the nation’s increased testing capacity. The Federal Government, also during the week, announced the approval of N2.3tr economic stimul

NSEASI buy 85% sell 15% MFI 57.41 Abc buy 💯 volume index 1.72 MFI 100.00 Access buy 25% sell 75% MFI 63.83 Afrprud buy 0% MFI 58.60 Aiico buy 56% sell 44% volume index 1.29 MFI 73.93 Airtel buy 💯 volume index 3.90 MFI 100.00 Bua buy 💯 MFI 66.81 Cadbury buy 0% MFI 46.61 Caverton buy 89% sell 11% volume index 1.73 MFI 23.59 Chams buy 25% sell 75% volume index 1.98 MFI 66.67 Custodian buy 0% MFI 30.79 Dangcem buy 0% MFI 58.67 Dangsugar buy 0% volume index 1.66 MFI 67.94 Eterna buy 💯 MFI 27.46 Eti buy 💯 volume index 1.14 MFI 73.65 Fbnh buy 0% MFI 73.75 Fcmb buy 💯 MFI 42.68 Fidelity buy 62% sell 38% MFI 62.95 Fidson buy 0% volume index 0.75 MFI 79.69 Fmn buy 72% sell 28% volume index 1.25 MFI 33.14 Glaxo buy 0% volume index 0.73 MFI 63.47 GT buy 25% sell 75% MFI 61.54 Honyflour buy 💯 MFI 66.24 Jaiz buy 💯 MFI 53.29 Japaul buy 60% sell 40% volume index 3.48 MFI 64.69 Lasaco buy 67% sell 33% volume index 0.76 MFI 61.86 Lawunion buy 0% MFI 45.06 Linkass bu

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Ambrose Here, It is not the strongest or the most intelligent who will survive but those who can best manage change. Leon C. Megginson Recently, I turned to the box office to watch a movie  Red Cliff- The movie gives you a massive insight of how indecision can change the cause of history and destiny. General Cao Cao, the Prime Minister of the Han Dynasty, coaxes Emperor Han to wage a war against two kingdoms in order to unite China. However, the two regions formed an alliance to defend themselves. On the final showdown which took place on the sea, General Cao Cao lost the battle because he wanted to drink tea with a newly found maiden. His men screamed, shouted begged for permission to attack the enemy while the wind was still in their favor but unfortunately, he was distracted, he procrastinated and as a result, got defeated. Unlike Napoleon Bonaparte, when one of his generals came to him and said that the conditions to attack the enemy was not right, he responded that

Market Update for June 25 Selling pressure on the Nigerian Stock Exchange (NSE) continued Thursday, but at a reduced momentum amidst indecision and negative sentiments arising from the fear of Coronavirus (COVID-19) resurgence. This has been made worse by the political crisis that has engulfed Nigeria’s ruling All Progressives Congress (APC); the nation’s wobbling economic data, oscillating oil prices threatens recovery, all of which are keeping the composite All-Share Index south for the sixth successive session on a low traded volume. The decline in market activity and the continued negative trend reflect cautious trading among investors with the Bollinger bands becoming narrower than normal to suggest low volatility when compared to the active trading sessions and range. As mentioned in our previous market updates, investors are already factoring in the expected Q2 earnings reports which are likely to be disappointing as a result of the virus-induced economic downturn and loc

NSEASI buy 13% sell 87% MFI 22.66 Chams buy 50% sell 50% volume index 1.27 MFI 24.08 Eti buy 💯 volume index 1.93 MFI 33.16 Fbnh buy 0% MFI 41.22 Fcmb buy 💯 MFI 68.07 Fidelity buy 💯 MFI 23.58 GT buy 75% sell 25% MFI 61.61 Japaul buy 0% MFI 42.13 Linkass buy 0% volume index 6.58 MFI 58.52 Lvstk buy 💯 volume index 0.73 MFI 0.02 Mben buy 0% MFI 76.04 Mtnn buy 0% volume index 2.43 MFI 51.53 Nahco buy 0% MFI 30.09 Regalins buy 0% MFI 80.76 Transcorp buy 0% volume index 2.14 MFI 60.20 Uba buy 0% MFI 46.56 Ucap buy 0% MFI 43.57 Wema buy 💯 MFI 50.55 Zenith buy 17% sell 83% volume index 0.73 MFI 39.24

Hello Investors and Traders, Don't forget to hit the subscribe button so that you will be among the first to get early notification. See you on the other side. Ambrose Omordion Click on the below link for my wealth Clinic Video https://youtu.be/snIEhO3YVH8

NSEASI buy 95% sell 5% MFI 31.36 Access buy 0% MFI 41.62 Aiico buy 0% MFI 50.51 Chams buy 0% volume index 2.95 MFI 18.76 Dangsugar buy 0% volume index 2.77 MFI 41.08 Eti buy 0% volume index 2.10 MFI 25.57 Fbnh buy 50% sell 50% MFI 38.48 Fcmb buy 💯 volume index 1.27 MFI 56.02 Fidelity buy 0% volume index 1.24 MFI 21.79 Fmn buy 💯 volume index 5.76 MFI 24.20 GT buy 80% sell 20% MFI 51.99 Honyflour buy 💯 volume index 0.73 MFI 72.70 Japaul buy 33% sell 67% volume index 3.25 MFI 59.02 M&B buy 💯 volume index 1.00 MFI 48.24 Transcorp buy 💯 volume index 1.38 MFI 63.74 Uba buy 0% MFI 41.40 Ubn buy 💯 volume index 5.88 MFI 2.55 Wapco buy 0% MFI 20.46 Wapic buy 0% MFI 44.16 Wema buy 0% MFI 53.22 Zenith buy 💯 MFI 28.18

Market Update for June 24 Equity prices on the Nigerian Stock Exchange continued its decline as the key performance indicator closed lower for the fifth consecutive trading session at the midweek with investors staying on the sidelines to watch the trend unfold. Meanwhile, the negative sentiments are waxing stronger amidst sliding crude oil prices and resurgence of the Coronavirus pandemic across the world, which is pointing to another around of lockdown, threatening most asset classes and economic recovery. This is also coming against the backdrop of the World Economic Outlook published by the International Monetary Fund (IMF) on Wednesday showing that the impact of COVID-19 may be worse after all than previously projected. For example, while the global GDP is now projected to contract by 4.9% this year, requiring more than $12tr over a two-year period to put it back on track, Sub-Saharan Africa’s GDP could contract by 3.2%, and Nigeria, the continent’s largest economy shrinkin

Nigeria’s President Muhammadu Buhari, on Tuesday, expressed dissatisfaction over the decision by francophone West African countries, which make up the West African Economic and Monetary Union (UEMOA), to replace their common CFA Franc with the Eco ahead of other members of the Economic Community of West African States (ECOWAS). Buhari, who spoke on the new regional currency at a virtual extraordinary meeting of the Authority of Heads of State and Government of the West African Monetary Zone (WAMZ), wondered why “a people with whom we wish to go into a union are taking these major steps without trusting us for discussion.” At the meeting which discussed the implementation of the ECOWAS Monetary Cooperation Programme (EMCP) and the ECOWAS Single Currency Agenda, he warned that such a move could put the plan in ‘serious jeopardy.’ For the Nigerian leader said it is obvious that the region is at crossroads, hence the need to “proceed with caution and comply with the agreed proces

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Market Update for June 22 Massive selling, on Monday, continued on the Nigerian Stock Exchange (NSE) on the back of high volatility and mixed sentiments following buying interests in the shares of Nestle Nigeria which minimized the session’s losing momentum on a low traded volume and negative breadth. The NSE’s All-Share index closed lower for the third consecutive trading day on increasing crude oil price fluctuation in the midst of heightened indecision among market players that are unwilling to position at current prices.  Such investors are factoring the expectedly mixed Q2 numbers into the current prices, knowing that the period has been characterized by partial operations by various companies and businesses due to the lockdown to curtail the spread of the novel coronavirus pandemic. This has seriously weakened economic activities in the country, as well as government revenues. The companies capable of growing their earnings at an above average pace at this time will beco

NSEASI buy 45% sell 55% MFI 40.33 Afrprud buy 💯 volume index 1.54 MFI 58.83 Bua buy 💯 volume index 0.93 MFI 59.45 Caverton buy 44% sell 56% volume index 1.32 MFI 25.08 Chams buy 0% volume index 3.52 MFI 45.42 Eti buy 0% volume index 1.04 MFI 47.23 Fbnh buy 0% MFI 44.81 Fcmb buy 💯 MFI 49.92 Fidelity buy 0% MFI 24.13 Fmn buy 0% volume index 1.83 MFI 39.38 GT buy 0% MFI 58.07 Jaiz buy 💯 MFI 60.67 Japaul buy 💯 volume index 1.94 MFI 57.27 Lasaco buy 💯 MFI 46.04 Mben buy 💯 MFI 75.40 Nahco buy 44% sell 56% volume index 2.51 MFI 43.81 Neimeth buy 0% volume index 1.67 MFI 72.82 Prestige buy 0% volume index 1.00 MFI 50.93 Regalins buy 💯 volume index 0.79 MFI 47.89 Transcorp buy 0% MFI 60.60 Uba buy 50% sell 50% MFI 54.45 Ucap buy 0% MFI 44.65 Wapic buy 0% volume index 0.73 MFI 41.81 Wema buy 💯 volume index 0.70 MFI 58.60 Zenith buy 0% MFI 36.34

Ambrose Here Again, Everyone has the ability to build a financial ark to survive and flourish in the future. But you must first invest time in your financial education to build an ark with a solid foundation. Robert Kiyosaki Recently, I went through a material that was done by different financial experts and they took their time to explain the different concepts. In fact, like Robert, they made a lot of emphasis on Asset and Liability. However, I believe we all know this but for the sake of emphasis, Asset is what brings in income while liability is what takes cash away from you. Then they went further to talk about the cash flow quadrant and its practical applicability. Moreover, I will not be discussing that here because it is not the real reason why I am sending you this post. Frankly, just as education is very key so is financial knowledge especially now there is global and domestic economic reset, coupled with the second-quarter earnings reports that is

Market Update for Week Ended June 19 and Outlook for June 22—26 Equity prices on the Nigerian Stock Exchange (NSE), last week closed lower on negative sentiments and continued selloffs as market players factored in the expectedly mixed Q2 corporate earnings due to the impact of the novel coronavirus (COVID-19) induced lockdowns and economic downturn that had affected businesses operations over the past months. This is worsened by investor concerns over the frosty trade relationship between US and China, even as the virus has created huge opportunities for the telecom and ICT companies, just as oil prices continues oscillating at the international markets. Meanwhile, technical tools are revealing big selloffs in the weeks ahead, as the market and companies’ Price to Earnings Ratios remain relatively high in the short-term and low on the long run, considering the three years of down market. The recent sideways trending and consolidation of the market over the past three weeks

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