Attached is FSDH’s outlook for the Nigerian Economy for the rest of 2008. Some of the details are below:

Their stock recommendations are:
Banks: Access Bank, Diamond Bank, First Bank, Oceanic Bank, Skye Bank, UBA
Breweries: Guiness, Nigerian Breweries
Building Materials: Wapco
Food/Beverages: Dangote Sugar, Flour Meals of Nigeria
Healthcare:Glaxo Smithkline
Insurance: AIICO, Gold Link Insurance, Lasaco Insurance, Law Union and Rock, Mutual Benefits, Prestige, WAPIC
Mortgage:Union Homes Savings and Loans
Petroleum: African Petroleum, Oando, Total
Real Estate: UACN Property Development

Their outlook for Second Half of 2008:
- Continued FDI into the financial system especially in the bond and equity markets
- Implementation of 2008 budget may boost spending activities
- Inflation rate expected to be around 10.01% – 11.50%
- Favourable balance of payment
- Major outflow of foreign exchange is not expected
- Real sector of economy may begin to pick up
- Overall outlook IS STABLE and BRIGHT

[download#168]
[download#169]