News

24 Aug

Nigeria Records GDP Growth of -6.10% in Q2’2020 lower than 2.12% in Q2’2019

Dear Client/Reader,

The National Bureau of Statistics just released the second quarter 2020 GDP report. According to the report, the nation’s Gross Domestic Product (GDP) contracted by 6.10% (year-on-year) in real terms.

This growth in Q2’2020 is 8.22% points lower than the rate recorded in the corresponding quarter of 2019 (2.12%) and 7.97% points lower than the rate recorded in Q1’2020 (1.87%).

In the quarter under review, aggregate GDP stood at N34.02 trillion in nominal terms. This represents 2.80% year on year decline in nominal GDP when compared to the corresponding quarter of 2019 (N35.00 trillion). The nominal GDP growth rate in Q2’2020 was lower than the rate recorded in Q2’2019 by 16.81%.

The Oil Sector

During the period under review, Oil production stood at 1.81 million barrels per day (mbpd), 0.21 million barrels lower than the daily average production recorded in the second quarter of 2019 (2.02 mbpd).

Real growth of the oil sector was -6.63% (year-on-year) in Q2’2020. This is lower by 13.80% points compared to the rate recorded in the same quarter, 2019. Oil sector growth decreased by -11.69% points when compared to the second quarter of 2019 (5.06%). Quarter-on-Quarter, the oil sector recorded a growth rate of -10.82% in Q2’2020. As a share of the economy, the Oil sector contributed 8.93% to total real GDP in Q2’2020, up from figures recorded in the corresponding period of 2019 and the preceding quarter, where it contributed 8.98% and 9.50%, respectively.

The Non-Oil sector

The non-oil sector declined by -6.05% in real terms during the reference quarter. This is lower by -7.70% point compared to the rate recorded in the same quarter of 2019 and -7.60% points lower than the first quarter of 2020. The non-oil sector output was mainly driven by Financial and Insurance (Financial Institutions), Information and Communication (Telecommunications), Agriculture (Crop Production), and Public Administration. On the other hand, sectors which experienced the highest negative growth included Transport and Storage, Accommodation and Food Services, Construction, Education, Real estate and Trade among others

In real terms, the Non-Oil sector contributed 91.07% to the nation’s GDP during the reference quarter, higher than the 91.02% recorded in Q2’2019 and the 90.50% recorded in the first quarter of 2020.

Regards.

By All Research, Economic Reports ( GDP Report and Inflation Report) Comments Off
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22 Aug

Vacancy: Senior Operations Officer

Vacancy: Senior Operations Officer (Senior Analyst to Associate Grade)

Division: Securities Trading Division

Job Purpose: To provide operations support for the firm’s investment and asset management business and ensure the integrity of the firms process flows

Job Background: The role of Operations officer will report to the Group Head of Support Services and will manage a core team involved in equities and fixed income operations and support services.

Job Responsibilities:

  • Managing an operations team including other professionals
  • Process flow of all trade transactions on NSE, NASD, FMDQ etc.
  • Process flow of transactions with counter parties in OTC transactions
  • Maintenance of all relevant client and operations records as required by the NSE MOS and SEC rules.
  • Maintaining the integrity of the firm’s operational processes and

Job Development Value:

Candidates can look forward to rapid promotion and higher challenges within the firm based on individual performance.

Required Skills:

  • Good knowledge of investment and investment products and operational processes
  • Strong numerate and analytical skills.
  • Excellent verbal and written communication skills.
  • Creativity and innovation
  • Flexibility and ability to work under pressure.
  • Good planning and effective workflow management to meet deadlines.
  • Team leadership experience

Required Qualifications:

  • Minimum of 2nd class degree or HND with Upper credit in economics/ finance related subjects. Professional qualifications such as ACA, CFA, ACIB, ACS and or an MBA will be a clear advantage.
  • Minimum of 5 years’ experience in the operations department of a broker/dealer firm.
  • Securities and exchange commission (SEC) registration as a sponsored individual will be a clear advantage.

Required Competencies:

  • Analytical
  • Strong communication skills
  • Good relationship building skills
  • Initiative
  • Adaptability
  • Leadership
  • Products Knowledge

Compensation:

Compensation is based on industry standards and will include a base pay and generous performance bonus.

Loyalty bonuses will also apply for staff that remains with the company for more than three years.

CV and application to be sent to the following email addresses:

iobanefe@mbcgroup.com.ng

odada@mbcgroup.com.ng

oayoade@mbcgroup.com.ng

By All Research Comments Off
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21 Aug

Daily Financial Market Report for August 21, 2020

Dear Client/Reader,

Equity Market Closes Week Bullish…ASI Gains 7 Basis Points

The Nigerian Stock Exchange (NSE) sustained its uptrend as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated by 0.07% to close at 25,221.87. Market Capitalization gained N9.01 billion to close at N13.16 trillion while the Year-to-Date (YtD) returns settled at -6.04%.

Sectors performance broadly bullish

Performance across sectors was broadly bullish as one sector closed in the red zone. Consumer Goods, Oil and Gas and Insurance indices advanced by 1.06%, 0.43% and 0.39% respectively, on the back of buy interest recorded in the shares of Intbrew (9.08%) and NB (2.86%); Oando (4.91%); Lasaco (10.00%) and Custodian (1.01%). Conversely, Banking index declined by 0.46% on the back of selloffs recorded in the shares of UBA (-0.75%) and Guaranty (-0.59%). However, Industrial index closed flat.

Market synopsis for the week

The stock market closed positive this week. The nation’s bourse had bullish performance as it closed positive in four of the five trading sessions. The market recorded losses on the first trading day of the week (-0.27%) and recorded gains on the second, third, fourth and last trading days of the week (0.02% 0.14%, 0.13% and 0.07% respectively), due to buy interest in large and mid-cap stocks across Consumer Goods, Oil and Gas and Insurance sectors. Overall, ASI advanced by 0.09% week-on-week, while the year-to-date returns settled at -6.04%.

Please find attached our Daily Financial Market update for today, August 21, 2020.

Thank you.

Click here for the daily financial market report.

By All Research, Daily Financial Market Report Comments Off
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20 Aug

Daily Financial Market Report for August 20, 2020

Dear Client/Reader,

Equity Market Closes Positive…ASI Gains 13 Basis Points

The Nigerian Stock Exchange (NSE) sustained its uptrend as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated by 0.13% to close at 25,204.60. Market Capitalization gained N18.06 billion to close at N13.15 trillion while the Year-to-Date (YtD) returns settled at -6.10%.

Sectors performance broadly bullish

Performance across sectors was broadly bullish as one sector closed in the red zone. Consumer Goods, Banking and Industrial indices advanced by 0.52%, 0.18% and 0.03% respectively, on the back of buy interest recorded in the shares of Intbrew (10.00%) and Honyflour (2.17%); Access (1.56%) and Guaranty (0.20%); CAP (5.56%). Conversely, Insurance index declined by 0.23% on the back of selloffs recorded in the shares of Regalins (-4.35%) and Aiico (-3.23%). However, Oil and Gas index closed flat.

NASD Market

The NASD market closed bearish after today’s trading activities as the Unlisted Securities Index (USI) declined by 4 basis points to close at 709.17. Consequently, Market Capitalization also decreased by 0.04% to close at N520.93 billion. Market activity measured by aggregate volume decreased by 82.35% while value declined by 64.16%. Investors traded a total of 134,382 units of shares valued at N21.88 million in 18 deals. Five securities traded on the NASD platform today and they are: NDEP Plc, WAMCO Plc, Afriland Properties Plc, Air Liquide Plc and CSCS Plc.

Please find attached our Daily Financial Market update for today, August 20, 2020.

Thank you.

Click here for the daily financial market report.

By All Research, Daily Financial Market Report Comments Off
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19 Aug

Daily Financial Market Report for August 19, 2020

Dear Client/Reader,

Bulls Gain Momentum on Local Bourse…ASI Gains 14 Basis Points

The Nigerian Stock Exchange (NSE) sustained its uptrend as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated by 0.14% to close at 25,171.32. Market Capitalization gained N18.20 billion to close at N13.13 trillion while the Year-to-Date (YtD) returns settled at -6.22%.

Sectors performance broadly bullish

Performance across sectors was broadly bullish as two sectors closed in the red zone. Banking, Consumer Goods and Insurance indices advanced by 0.81%, 0.41% and 0.19% respectively, on the back of buy interest recorded in the shares of Guaranty (1.20%) and Zenithbank (0.90%); Intbrew (7.14%); Mbenefit (5.00%) and Aiico (2.20%). Conversely, Industrial index declined by 0.04% on the back of selloffs recorded in the shares of CAP (-10.00%). However, Oil and Gas index closed flat.

NASD Market

The NASD market closed bearish after today’s trading activities as the Unlisted Securities Index (USI) declined by 15 basis points to close at 709.43. Consequently, Market Capitalization also decreased by 0.15% to close at N521.12 billion. Market activity measured by aggregate volume increased by 42.45% while value declined by 14.51%. Investors traded a total of 761,395 units of shares valued at N61.04 million in 8 deals. Three securities traded on the NASD platform today and they are: WAMCO Plc, CSCS Plc and UBN Properties Plc.

Please find attached our Daily Financial Market update for today, August 19, 2020.

Thank you.

Click here for the daily financial market report.

By All Research, Daily Financial Market Report Comments Off
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18 Aug

Daily Financial Market Report for August 18, 2020

Dear Client/Reader,

Equity Market Closes Flat…ASI Inches Up Marginally by 2 Basis Points

The Nigerian Stock Exchange (NSE) saw mixed sentiment with the bulls marginally edging the bears today. The benchmark All Share Index (ASI) appreciated by 0.02% to close at 25,136.49. Market Capitalization gained N3.75 billion to close at N13.11 trillion while the Year-to-Date (YtD) returns settled at -6.35%.

Sectors performance broadly bearish

Performance across sectors was broadly bearish as two sectors closed in the green zone. Oil and Gas, Consumer Goods and Industrial indices declined by 1.83%, 0.12% and 0.02% respectively, on the back of selloffs recorded in the shares of Conoil (-9.76%) and Ardova (-9.68%); NB (-2.78%); Wapco (-0.43%). Conversely, Insurance and Banking indices advanced by 0.89% and 0.52% respectively, on the back of buy interest recorded in the shares of Cornerst (9.43%) and Lasaco (7.14%); UBA (2.31%) and Access (0.79%).

NASD Market

The NASD market closed bearish after today’s trading activities as the Unlisted Securities Index (USI) declined by 111 basis points to close at 710.49. Consequently, Market Capitalization also decreased by 1.11% to close at N521.90 billion. Market activity measured by aggregate volume increased by 1,982.20% while value advanced by 894.51%. Investors traded a total of 534,500 units of shares valued at N71.41 million in 3 deals. Two securities traded on the NASD platform today and they are: WAMCO Plc and NDEP Plc.

Please find attached our Daily Financial Market update for today, August 18, 2020.

Thank you.

Click here for the daily financial market report.

By All Research, Daily Financial Market Report Comments Off
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