CBP DAILY FINANCIAL MARKETS UPDATE - 17/02/2016

he Nigerian Stock Exchange All Share Index (NSE ASI) and the Market Capitalization decreased by 1.87%, while the Year-to-Date return stood at -16.01%. The All Share Index closed at 24,056.12 against the previous close of 24,514.91 while Market Capitalization closed at ₦8.273 trillion against previous close of ₦8.431 trillion. Volume traded increased by 15.35% from 290.944 million to 335.612 million, while the total value of stock traded decreased by 32.22% from ₦2.881 billion to ₦1.952 billion in 2,847 deals.    

Capital Bancorp Plc DAILY FINANCIAL MARKETS UPDATE - Thurdays February 2016.

The Nigerian Stock Exchange All Share Index (NSE ASI) and the Market Capitalization increased by 2.19%, while the Year-to-Date return stood at -13.89%. The All Share Index closed at 24,664.89 against the previous close of 24,135.40 while Market Capitalization closed at ₦8.483 trillion against previous close of ₦8.301 trillion. Volume traded increased by 29.18% from 320.755 million to 414.346 million, while the total value of stock traded increased by 80.58% from ₦1.823 billion to ₦3.291 billion in 3,380 deals.       

     

NSE Statistics		10-Feb-16		11-Feb-16		1-Day Change %		YTD Change(%)
NSE All- Share Index		24,135.40		24,664.89		2.19		(13.89)
Market Capitalization  (N'Trillion)		8.301		8.483		2.19		(13.89)
Total Volume Traded (N'Million)		320.755		414.346		29.18		N/A
Total Value Traded   (N'Billion)		1.823		3.291		80.58		N/A
Number of Deals		3,178		3,380		6.36		N/A
Number of Traded Stocks		133		91		(31.58)		N/A
Number of Advanced Stocks		20		13		(35.00)		N/A
Number of Declined Stocks		14		21		50.00		N/A
Number of Unchanged Stocks	99		57		(42.42)		N/A

TSA: SystemSpecs Returns N8bn

Mr John Obaro, the managing director of SystemSpecs, owners of Remita, the e-payment and e-collection platform used for payments into the Treasury Single Account (TSA), disclosed yesterday that SystemSpecs and participating commercial banks took a “business decision” to return to the Central Bank of Nigeria (CBN) the N8billion it collected as charges for its services despite a valid contract backing the transaction.

 

The refunded N8billion represents monies accrued from the one per cent TSA remittance charge collected by SystemSpecs, participating commercial banks and the CBN from federal government ministries, departments and agencies (MDAs).

Nigeria Financial markets suffer after JP Morgan index expulsion

Nigeria’s stocks sunk on Wednesday after JP Morgan said it would eject Africa’s biggest economy from its influential emerging markets bond index due to tough controls imposed to prevent a currency collapse.

In a move that came earlier in the year than expected, JP Morgan said late on Tuesday it would remove the bond listings belonging to the West African nation by the end of October, forcing fund managers to sell Nigerian bonds, which might raise the country’s borrowing costs.

JP

The decision is a blow to President Muhammadu Buhari, who has promised to diversify an oil-dependent economy hit by a slump in global crude prices but who faces criticism for not having appointed a cabinet since his inauguration on May 29.

With no finance minister in place, foreign investors have been left wondering about government policies and struggling to sell shares or bonds as the central bank adopted tough currency restrictions to halt a slide of the naira.

Anders Faergemann, senior sovereign portfolio manager at PineBridge Investments, said he was surprised that Buhari had not started tackling the country’s economic problems more than three months into his tenure.

“As an investor it is flabbergasting that the Nigerian authorities have allowed themselves to be put in this situation,” he said.

All Nigerian stocks listed in the MSCI frontier market index fell by more than 3 percent, while bond yields spiked across maturities.

While many foreign bonds investors have exited the market since JP Morgan warned Nigeria in January and again in June that it would get kicked out of the index unless conditions improved, stocks investors were now also pondering whether to stay.