Author: Julius Alagbe

Oil slips below $45 on-demand concerns, set for weekly rise. Oil dipped below $45 a barrel

Analysts Maintain Buy Rating on Sterling Bank, Set Price Target to ₦1.43

International Breweries Records Worst Q2 Performance after Merger, Dump Analysts say  ·         Stock dangling between analysts’ Buy, Sell Recommendation ·         We posit that the stock is oversold, could present upside opportunities – WSTC ·         Bearish outlook for rest of 2020 is colored by existing industry headwinds – Meristem Pressure on demand for International Breweries (IntBrew) Plc.’s products, a key challenger in the beer market, is affecting the company’s performance scorecard. In the second quarter, IntBrew recorded material decline in sales due to coronavirus outbreak which resulted to economic lockdown. Obvious pressure cast doubt on future outlook in the segment, and this forced analysts to downgrade revenue estimates by…

Neimeth Pharmaceutical Earnings Jump as Virus Boosts Demand for Drugs

AfDB: Independent Review Panel exonerates Adesina The Independent Review Panel set up by the Bureau of Governors of the African Development Bank (AfDB), has exonerated President of the Bank, Dr Akinwumi Adesina of any ethical wrongdoings. This is contained in the panel’s report made available to the News Agency of Nigeria (NAN) on Tuesday. The Independent Review Panel was constituted following a complaint by the United States, to review the process by which two previous organs of the Bank – the Ethics Committee of the Board, and the Bureau of the Board of Governors had previously cleared Adesina. The three-member…

Ticking Debt Clock: How Much Can Nigeria’s Economy Absorb? Some Nigerians are worried about the rising debt profile amidst the rising poverty level in the country. The government has been on the side of borrowing, but neglected innovative drives to diversify the nation’s revenue from petrol-dollars support. Borrowing remains the Federal Government’s core strategy to rescue the economy as well as to pave way for growth and development. Mr. President, what is your debt repayment strategy like? It is not clear the Federal Government has one. The next question is: who will pay Nigeria’s debt? The next President will most…

Okomu Oil Palm Company Plc. has announced a 30.0% year on year growth in earnings

Virus Outbreak Exacerbates International Breweries Earnings Trouble  International Breweries Plc achieved a rather worsen financial scorecard in the first half of 2020, thanks to virus outbreak that exacerbate an already pressured earnings performance. Equity analysts have set price target of ₦10.05 for International Breweries Plc stock after a rather disappointing earnings. Despite its high cash burn rate, and resultant loss of earnings, shareholders pumped money into the company as equity value skyrocketed by a whopping 1,934%. Valued at ₦89.987 billion in the stock market, IntBrew was quoted at ₦3.40 which was 5 kobo above its bottomed price, against 52-week high…

Money Market: Inter-bank Rates Moderated on Robust Liquidity Inter-bank rates moderated further in the money market on Monday on the back of robust liquidity in the financial system. On Monday, the financial system liquidity was opened at ₦604.5 billion, which market analysts say was partly buoyed by bond coupon payment. Then, the Open Buy Back (OBB) and Overnight (OVN) rates declined by 48 basis points (bps) and 33 bps to 1.13% and 1.88%, respectively. Meanwhile, the fixed income market opened the week with largely bullish sentiments, which was also partly aided by the high liquidity in the financial system. However,…

Cadbury: Analysts Downgrade Stock to Hold after Disappointing Earnings