Invest Data Consulting Ltd

The global economy recorded stronger recovery and growth, helped by the recent positive data emanating from the developed world, especially the rising price of commodities, particularly crude oil and others, despite uncertainties here and there as a result geopolitical issues, added to North Korea’s missile threat that remains a cause for concern among investors.  Economic uncertainty as Fed continued to hike rate in the name of managing inflation that had relatively remain moderate. Back home, the recent corporate earnings of listed companies confirm the positive macro-economic data that confirms the fact that Nigeria is finally out of recession, growing by 0.55% as shown in the Q2 GDP figure released by the National Bureau of Statistics (NBS). This is besides the declining inflation rate, although slower than expected; Just as Purchasing Managers Index recorded the most significant jump so far at 64.8 in October, from the previous month’s 58.5, helped by the Central Ba...

TRADERS AGAIN TAKE PROFIT, AMIDST WAIT FOR MORE Q3, GDP NUMBERS Trading on the floor of the Nigeria Stock Exchange (NSE) on Tuesday continued its volatility to close on a negative note, after losing almost all its gain in the previous three trading sessions, on the strength of profit taking by traders which is expected in any earnings reporting season, especially when the growing number of market players are short-term investors, including retails players. The down market coincided with the release of September inflation rate by the National Bureau of Statistics (NBS) which dropped slightly for the eighth consecutive month to 15.98% from 16.01% in August. The marginal decline in the month, which coincides with the harvest period, is of concern to investors, suggesting that the celebrated success in agricultural sector is still shaky, meaning that either there is poor harvest or infrastructure like roads to transport farm produce to markets in the city centre. This has often...

Nigeria’s National Bureau of Statistics (NBS), on Tuesday, published the data for inflation and Consumer Price Index (CPI), showing a decline for the eighth consecutive marginal decline to 15.98% from 16.01% in August. There was a further rise in food inflation, even as core inflation slowed down in the period under review. More details later… http://investdata.com.ng/2017/10/breaking-nigerias-inflation-rate-records-8th-consecutive-fall-15-98-sept-nbs/#more

Nigeria’s stock market over the past week had a volatile and mixed performance to close higher on an uptrend that supports buying opportunity as demand for stocks were in the increase with the earnings reporting season entering its peak, ahead of the release of September inflation and Q3 GDP data from the National Bureau of Statistics (NBS).  The increasing buying pressure reflected on the volume traded for the period under review, which is likely to continue in this new week judging from the fact that technicals had given a buy signal for some sectors and individual stocks, especially the stocks that will beat Q3 earnings expectations.  The improvement in market breadth in the past two weeks has strengthened the up trending ability and direction which confirms the recovery in the market on positive sentiments.  The improved speculative activities of traders are becoming noticeable in the buying pressure that supported the recent breakout that ushered i...

Global economic growth outlook remains mixed and unpredictable as geopolitical risks continue to rise and fall with North Korea’s continuing missiles test despite UN imposed sanction. This has remained a threat to investments and business, irrespective of the positive economic data. The healthy growth in the second quarter, with advanced economies benefited from compassionate monetary conditions and tightening labour markets, as Inflation accelerated in the U.S. amidst hurricane related disruptions which caused gas prices to spike, while inflation in the UK came in above market expectations. The UK’s annual GDP growth revised down in Q2 to lowest rate since 2013, while China’s business activity was hampered by tightening credit, with the Eurozone’s economic activities looking up to reflect the expansionary economy. The recent strengthening of the US Dollar against other global currencies with tax cut plan by the Donald Trump administration may boost prices of equities and thre...