Get all the latest information on businesses and companies in Nigerian Stock Exchange.
Here are the weekly reports from FSDH, Investor Delight, Forte Assets and Meristem Securities.
Weekly report for the week ended January 23rd, 2009.
You can download Afrinvest’s 2009 economic outlook below. Some of the main points are:
– Major reduction in the pace of growth
– Banking sector appears heading towards a major decline in 2009
– Money market instruments, government securities, and sovereign bonds will receive heavier weightings in investor portfolios
– Greater degrees of diversification into non-Naira based assets as a result of devaluation of the Naira
– Their investment strategy will be to focus on strong companies with fundamentatlly sound competitive positions and revenue profiles, with a high degree of cash revenues, low debt dependence and strong management teams.
– Focus on the consumer market segment, particularly the food and drink businesses
– Accelerated sovereign bond issuance by the FG
– Federal deficit will be greater than current government estimates
Find attached the weekly reports from Meristem, Investor Delight, Lead Capital, Forte Assets and FSDH.
Here is the weekly report for the week ended January 16th
Too many posts to handle? If you missed out on a great post from last month, here’s a quick digest of the top posts that you may want to check out: CBN moves to stabilize the Naira Posted on Wednesday, January 14th, 2009 in Banks – Comments: (0) The CBN board met yesterday to discuss […]
The CBN board met yesterday to discuss the continuing devaluation of the Naira. The Naira had fallen so much that it was trading for N160 to a dollar. Some of the steps to be taken include:
1. Specifically, Soludo said operations of Bureaux de Change (BDCs) would be streamlined to reflect what is obtainable worldwide.
2. Besides, all the loose ends in foreign exchange market would be plugged with proper documentation that would require reasons for requests for foreign exchange by banks on behalf of their customers. Erring banks would be sanctioned with suspension from the foreign exchange market.
Scary, the NSE lost over N5trillion between March and December 2008. While this is worrying, I think this was something that had to happen. A lot of the stocks had become irrationally priced and a market correction was necessary. Read the report from Vanguard Newspapers below:
The Lagos State Government has launched a N275 billion bond to finance activities for the year. You can download the application form below:
The Vanguard Newspapers reports today that the NSE has announced that they will be launching 5 new trading indices. They are:
Ben Okolo had a very instructive essay in Nigeriaworld about the effect of the oil price crash on Nigeria:
Below are the stock picks and reports from the stock brokers:
This blog is dedicated to informing users on the latest business and economic news news from the CBN and Nigerian Stock Exchange. Happy reading!