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Here are the monthly Economic Reports and Views presented by B.J. Rewane for May and June 2010 at the Lagos Business School. He summarizes the major events of the month and offers some analysis of these events and how they affect the economy.
This is quite late – the weekly stats for the week ended April 9th 2010:
Below are the NSE reports for the Month of March and for Q1 2010. Also below is the stats of the market performance:
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In: Market Analysis|News
4 Jan 2010Courtesy of FSDH and TRW Brokers, here are the stats for stock performance for 2009. It wasnt a pretty picture.
Here is <a href=”http://www.accessbankplc.com”>Access Bank</a>’s Macroeconomic Update for October 2009:
Access Bank - Macroeconomic Update - October 2009 (133)
The <a href=”http://www.imf.org”>IMF</a> yesterday, released the new <a href=”http://www.imf.org/external/pubs/ft/weo/2009/02/index.htm”>World Economic Forecasts</a>. Economic growth in Nigeria is expected to slow to 2.9% this year from 7% last year. It should rise to 5% in 2010. Consumer prices are expected to increase by 12% in 2009 and 8.8% in 2010.
A major reason for the slowing of economic growth is the fall in financial flows from oil exports. You can download the report below.
FSDH Securities has prepared a thorough analysis of the Nigerian Stock Exchange performance in the last quarter and on what to expect in this 2nd quarter. Below is their summary:
Courtesy of FSDH and Forte Assets, here is the market report for the week ended Friday, April 17th:
In: Market Analysis
8 Apr 2009FSDH Securities recently released their 2009 outlook. I must commend them for a well written analysis of the economy. You can download it here:
FSDH 2009 Outlook (463)Their recommendation is:
While we advise investors to take medium to long term positions in the market, we observe that there are opportunities for short-term trading in the market. In a period like this; full of uncertainties, we strongly advise investors in the capital market to invest only in stocks of companies with sound management and good products that can generate and sustain its cashflows. Such companies can increase investments in the long run. Once recovery starts and the level of confidence in the economy improves, both domestic and international, stocks may not trade at the current prices for many years to come.
The highlights of the document are:
Courtesy of Forte Assets, here is the market report for the week ended April 3rd 2009:
Earlier this week, the Vanguard Newspapers held a forum with some distinguished guests to discuss the issue of the falling value of the Naira. Experts in attendance included: former Minister of Finance, Dr. Kalu Idika Kalu; Director, Lagos Business School, Professor Pat Utomi who moderated the event; former Economic Planning Minister, Senator Sanusi Daggash; Mr. Jimoh Ibrahim, Chairman, NICON Group; NACCIMA President, Mr. Simeon Okolo; Mr. Opeyemi Agbaje of the Lagos Business School and Vanguard columnists, Les Leba and Dr. Dele Sobowale, among others.
In my opinion, Dr Idika Kalu hit the nail on the head – the main problem is the fact that NIgeria is too dependent on the banking industry which makes up over 50% of the stock exchange and is currently the major employer of labor outside of the government. What we need is a strong manufacturing economy.
And I very very much disagree with Jimoh Ibrahim who is suggesting that the CBN prints more Naira. That is a bunch of bull. It is nonsense. Printing more Naira will increase the risk of inflation and will sink the country into a recession. It can also result in the downgrading of our credit ratings which will affect the flow of foreign investments.
Here are the market reports from Forte Assets and FSDH for the week ended March 6th:
This blog is dedicated to informing users on the latest business and economic news news from the CBN and Nigerian Stock Exchange. Happy reading!