Invest Data Consulting Ltd

GTBank, Diamond, UPDC Announce Closed Period For Half Year Accounts The board of Guaranty Trust Bank Plc, Diamond Bank and UACN Property Development Company, on Monday wrote the Nigerian Stock Exchange (NSE) announcing the closed periods for the half year financials. GTBank, for example, in the filing by Erhi Obebeduo, its company secretary, said its closed period begins from July 4, 2018, ahead of which the board is scheduled to meet for consideration of the financial statement and to discuss issues relating to payment of an interim dividend, on Wednesday, July 25, 2018. In another notice of the bourse also on Monday, the bank said it is required to forward the audited account to the Central Bank of Nigeria (CBN) for approval, prior to the release of the results on the floor of the NSE. Rather than give a period when it is expected to conclude this process, Obebeduo simply said the NSE will be notified “of the decisions reach after the approval of the CBN is obtained.” ...

https://investdata.com.ng/2018/06/investdata-price-earnings-tracking-week-ended-june-22-2018/#more

Nigeria’s federal legislators on Friday responded to jabs by President Muhammadu Buhari while assenting the 2018 budget two days earlier, accusing the executive arm of unduly exaggerating the extent of cuts made to the bill submitted to the National Assembly in November last year. In a joint statement, the legislators at a press addressing addressed by Senator Aliyu Sabi Abdullahi and Abdulrazak Namdas of the House of Representatives, the National Assembly, reiterated the fact that adjustments were within the powers of the lawmakers in such a process, the legislators at a joint press conference by both arms, insisted that no substantial reduction was made “on any project to the extent of affecting its implementation.” Specifically, they stressed that the N347bn cuts from 4,700 projects “were made from low priority areas to higher priority areas to support the generation of employment for our youth by MSMEs (Micro, Small and Medium scale Enterprises).” Continuing, the lawmak...

Caption: From left to right, Executive Director, J.P Morgan, Mr Nick Long, Acting Director General, Securities and Exchange Commission, Ms. Mary Uduk, Chief Executive, Stanbic IBTC, Akeem Oyewale and Acting Executive Commissioner, Operations at the commission, Isyaku Tilde during a meeting between SEC and JP Morgan in Abuja at the weekend. Executive Director of international capital market giants- JP Morgan, Nick Long, at the weekend expressed satisfaction with the performance of Nigeria’s capital market so far. Speaking when representatives of the company and Stanbic IBTC visited the Securities & Exchange Commission in Abuja, Nick Long, Representative of JP Morgan said, is one reason Nigeria remains attractive to international investors. Receiving the visitors at her office, acting Director General of SEC, Ms. Mary Uduk, assured foreign investors of the safety of their investments in the Nigerian capital Market. All necessary controls, she assured, are in place to en...

The Central Bank of Nigeria (CBN), again on Tuesday, Tuesday, February 27, 2018, made interventions in the inter-bank sector of the Foreign Exchange market with the injection of $210m into three segments of the market. A breakdown of the intervention indicates that the CBN offered the sum of $100m to dealers in the wholesale window, while those in the Small and Medium Enterprises (SMEs) window received an allocation of $55m. The invisibles segment, comprising Business/Personal Travel Allowances, school tuition, medicals, etc., was also allocated the sum of $55m. The CBN spokesman, Isaac Okorafor, in disclosing these, said the Bank would continue to make the interventions, in spite of the fact that the country’s reserve has enjoyed accretion in the past weeks, bringing the figure to about $42bn. Okorafor was upbeat that the forex management strategy was yielding the desired result; hence, he noted that the CBN would continue to sustain its activities in the market in order to ...

Market Update for February 21 Trading on the floor of the Nigerian Stock Exchange on Wednesday was volatile once more, closing flat, following through the previous session, just as it proof very resilient to remain above the 42,000 level, despite the mixed sentiments during the trading session. The NSE composite index was up pre-market, but opened higher, sustaining the momentum within the mid-morning to midday at 42,241.04 which was the day’s high, before rallying to resistance, pulled back and consolidated. It broke out in the morning and ran up into the last couple of hours when it consolidated, but held, and closed in the green column on improved volume traded but negative market breadth. The NSE All Share index was up 9.92 at 42,158.32, which was 96.34 points off its intraday high, even as the market struggled for direction with the changing pattern as observed so far. Investors and traders should therefore combine fundamentals of the market/companies and index/price ...

Market Update for February 1 Volatility continued at Thursday’s trading on the Nigeria Stock Exchange, kicking off the month of February on a positive note to reverse the previous day’s down market. The day started out with gap down at its opening, which lingered through to midday but rallied back to the recent key resistance and formed a Doji candlestick pattern that supports continuation of uptrend on above average traded market volume. Investdata research reveals that the February has been a bullish month over the past decades, recording 13 years of up-market and seven year of down market as shown in the table above. We therefore expect a breakout of this resistance level and retesting the market’s highest level or even attaining a lower-low, as wave 5 extension movement is not solid yet, but there is the possibility of stocks riding on best January performance since the 1998s with full year earnings reporting season commencing any moment from now as early filers hit the ...

http://investdata.com.ng/2018/01/investdata-price-earnings-tracking-week-ended-jan-19-2018/