MARKET UPDATE FOR APRIL 25, 2017
STANBIC IBTC FORESHADOWS EXPECTATION, AS BANKING PEERS DELAY FILINGS The nation’s stock market indices continued its uptrend in the second day in a row as equity prices moved up on increased demand as investors re-positioned in the market on the strength of Q1 financials that is pointing to a brighter 2017 full year, if the ongoing economic recovery efforts are sustained, going forward. This would ensure that the earnings power of listed companies continues to improve thereby supporting the price rally. This suggests that medium to long-term positioning in the market at this point will help investors recoup their losses and return to profit. This is also coming at a time more companies are yet to release their first quarterly results for the year, especially banking stocks, with Stanbic IBTC Holdings being the only exception. Stanbic IBTC has presented its numbers to the market, giving a hint of what should be expected from peers like Zenith Bank, Access B...