Author: Marketforces Africa

Stock Market Opens Negative amid Rising Headline Inflation Rate

Nigeria’s Inflation Rate for July Hits 12.82%, says NBS

NASCON: Sustained Border Closure Support Earnings, Market Share

Interbank rates to moderate as ₦181bn worth of TBills matures. Analysts have projected that interbank rates will as huge amount from maturing Treasury Bills is set to hit the financial system this week.

Growth: Experts Task FG on Private Sector Driven Economic Policies. To strengthen the nation’s economic growth trajectory, experts have asked the Federal Government to development private sector driven policies and create enable business environment for local businesses to thrive.

ARM Securities Bullish on Bulge Balance Sheet Banking Stocks. Equity analysts at Asset and Resources Management (ARM) Securities have remained bullish on bulge balance sheet banks as analysts rated their stock strong buy.

‘Unemployment Rate Data Downplays Labour Market Condition’ Afrinvest, a leading investment firm headquartered in Lagos has said it discovered that underlying numbers suggest that the labour market is in a worse state than the headline unemployment rate would suggest. Last week, the Nigerian Bureau of Statistics (NBS) published second quarter (Q2) 2020 labour statistics, which happened to the first report since third quarter (Q3) 2018. In a macroeconomic note, Afrinvest said as expected, the numbers are grim as unemployment rate climbed to 27.1%. Afrinvest said the abridged nature of the report raises a lot of questions about the changes the…

Amid demand pressure in the fixed income market, the Debt Management Office (DMO)

Market Temperature Rises as CBN Floats OMO Auction Again The money market records retail foreign exchange auction pressure on funding as the apex bank floated open market operations (OMO) auction Thursday first time in the last two month. As investors scramble for strong return,  the financial system liquidity open higher at ₦510 billion from ₦235 billion yesterday. However, funding pressures increased, due to provisioning for the retail FX auction, says Chapel Hill Denham. Consequently, the Open Buy Back and Overnight rates spiked by 14.60% and 16.01% to 17.60% and 19.80%, respectively. Analysts remarked that sentiments remained mildly bullish in the…

Nigeria’s Unemployment Rate Swells to 27.1 Percent. Overall employment declined by 11.1 million in Q2 20 compared to Q3 18. Unemployment rate increased 398 bps to 27.1% in Q2 20. Female unemployment surged 1.4 million compared to decline in Male unemployment of 559,061