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| Thursday, April 24 today 2014 |
|
| |Economy|
FEC approves $152.12m AfDB loan: The Federal Executive Council (FEC) has given the approval for a loan of $152.12 million and a grant of $385,000 from the African Development Bank (AfDB) to support the agricultural transformation agenda of the Federal Government. The Minister of Agriculture, Mr. Akinwumi Adesina, explained that the Federal Government will add 20 million metric tons of food to our domestic food supply by 2015. Source: Thisday
FMDQ attracts N2trn fixed income deals since ‘E-Bond’ debut: In less than five weeks after the introduction of ‘E-Bond’, a new trading system for Nigeria’s fixed income securities, the platform attracted about N2trillion worth of deals. Market analysts say the increased value of deals recorded in this new platform, which was developed by FMDQ OTC plc in conjunction with Bloomberg, is an indication of market participants’ readiness to tap into Nigeria’s N12 trillion ($75.09 billion) fixed income market. Source: Businessday |
|Bank|
Union Bank grows full year profit by 217%: Union Bank of Nigeria Plc (UBN) has reported an increase of 217 percent in profit after tax (PAT) for the year ended December 31, 2013. UBN recorded gross earnings of N121 billion, up marginally by four percent from N117 billion in 2012. Profit before tax grew by 31 percent from N2.9 billion in 2012 to N3.8 billion, while PAT soared by 217 percent from N1.2 billion to N3.8 billion. Source: Thisday |
|Infrastructure|
Discos urge govt to tackle vandalism, gas shortage: Electricity distribution companies have called on the Federal Government to tackle the menace of vandalism of critical infrastructure and shortage of gas supply in order to rekindle the hope of improved power supply. At Port Harcourt, the Managing Director, 4Power Consortium Limited, the core investor in the PHEDC, Mr. Matthew Edevbie, appealed to the National Assembly to enact a strong anti-theft law, to empower the power firms to prosecute vandals of electricity installations, and customers who were fond of attacking utility personnel in the cause of their duties. Source: Punch |
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| THE NIGERIAN STOCK EXCHANGE |
| |
Current |
Previous |
% Change |
| All Share Index |
39,194.09 |
39,408.33 |
(0.54) |
| Market Cap. (NGN'tn) |
12.89 |
12.83 |
|
| Market Cap. (US$'bn) |
82.77 |
82.39 |
|
| Value Traded (NGN'bn) |
5.27 |
4.95 |
|
| Volume Traded (#'bn) |
356.52 |
372.43 |
(4.27) |
| Number of Deals (#) |
5,221 |
4,984 |
|
|
| Top Gainers |
% Change |
Top Losers |
|
| CAP |
5.00 |
AIRSERVICE |
(4.80) |
| REDSTAREX |
4.93 |
VITAFOAM |
(4.76) |
| MANSARD |
|
NEIMETH |
(4.39) |
| ABCTRANS |
4.65 |
DNMEYER |
(4.31) |
|
| CBN - WDAS (US$'mn) |
| |
Current |
Previous |
(%) Change |
| Amount Offered |
400.00 |
400.00 |
|
| Amount Demanded |
ND |
ND |
- |
| Amount Sold |
|
|
(33.25) |
| CBN US$/NGN Rate |
155.73 |
155.73 |
- |
| CBN €/NGN Rate |
215.47 |
215.15 |
(0.15) |
| CBN £/NGN Rate |
262.03 |
262.03 |
0.19 |
|
| Sovereign Debt Yields (T-Bills & Bonds) |
| Tenor |
Current |
Previous |
Last 30 Days |
| 1M |
10.77 |
10.77 |
11.69 |
| 3M |
11.10 |
11.10 |
12.72 |
| 3Y |
13.19 |
13.19 |
13.42 |
| 5Y |
13.15 |
13.15 |
13.53 |
| 7Y |
13.26 |
13.26 |
13.59 |
| 10Y |
13.36 |
13.36 |
13.58 |
| 20Y |
13.42 |
13.42 |
13.51 |
|
| NIBOR (%) |
| Call |
10.9200 |
10.8800 |
10.7500 |
| 7-Days |
|
|
10.9500 |
| 30-Days |
11.5000 |
11.4600 |
11.3800 |
| 90-Days |
12.1300 |
12.1300 |
11.9600 |
| 365-Days |
12.7100 |
12.7100 |
12.5400 |
|
| CRUDE OIL (US$/Barrel) |
| Brent Crude |
109.27 |
109.95 |
107.76 |
| OPEC Basket |
105.19 |
105.53 |
105.24 |
| Bonny Light |
115.50 |
113.60 |
110.50 |
|
|
* denotes delayed data as such data not released on daily basis
ND denotes Not Disclosed |
|
|
|
|Other News|
Nigeria faces political, economic risks – IMF: The International Monetary Fund has predicted that Nigeria will face political and economic risks if the security problems in the northern part of the country are not urgently controlled by the Federal Government and security agencies. The IMF explained that insecurity was a threat to the country’s anticipated strong growth which is expected to be driven by agriculture, trade and services. Source: Punch |
CBO Research
E: research@cbocapital.com
T: +234 (0) 1 730 5631
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| This report has been issued and approved by CBO Capital Partners Limited (“CBO Capital”). This report is based on information from various sources that we believe are reliable; however, no, representation is made that it is accurate or complete. While reasonable care has been taken in preparing this document no responsibility or liability is accepted for errors or fact or for any opinion expressed herein. This document is for information purposes only. It does not constitute any offer or solicitation to any person to enter into any trading transaction. This report is provided solely for the information of clients of CBO Capital Ltd. who are expected to make their own investment decisions. Other persons should not rely on this document. CBO accepts no liability whatsoever for any direct onsequential loss arising from any use of this report or its contents. This report is for private circulation only. This report may not be reproduced distributed or published by any recipient for any purpose without prior express consent of CBO. |
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