Browsing: Chapel Hill Denham

Tough Tasks for MPC as Inflation Rate Outpaces MPR. Tough job for the Central Bank of Nigeria’s Monetary Policy Committee as headline inflation which settled at 12.56% in June outpaced the benchmark interest rate of 12.50%, thus further widened negative return in the fixed income market.

Bond Auction: DMO Reduces Total Borrowing Plan for Q3:2020. The Debt Management Office, DMO, has indicated plan to lower borrowing target for the third quarter, (Q3:2020) as reflected in its bond auction calendar.

Analysts Challenge CBN to Address FX Rates Confusion. Analysts at Chapel Hill Denham Limited have tasked the Central Bank of Nigeria to come clear and state applicable FX rates for official use across segments.

‘Economic, Regulatory Pressures to Suppress Banks Q2 Earnings by 8%’. Amidst concern for economic recession which has generally clouded earnings outlook for 2020, analysts have estimated 8% cuts in banks second quarter earnings.

Fiscal Deficit: FG Raised 67% of External Borrowing Plan – DMO. The Debt Management Office has told investors that the federal government has raised 67% of its external borrowing plan to finance its fiscal deficit for 2020.

FCMB: Planned Acquisition of AIICO Pension Portends Long Term Value. FCMB group proposed acquisition of AIICO Pension is positive for long term value but could dilute shareholders return by about 26% in the short term, says analysts at Chapel Hill Denham Limited, an investment banking firm.

Profit Takings Wipes Off ₦49.6 Billion from Stock Market. The Nigerian Stock Exchange (NSE) traded southwards for the third consecutive day this week, as investors continue to take profit.

Fixed Income Investors Stay Bullish on Government Securities. In the fixed income market, sentiments were broadly bullish on Tuesday, despite persistent funding pressures in the interbank market.

Chapel Hill Denham Forecasts Tighter Liquidity as NSE Opens Negative. In the Nigerian Stock Exchange, Trading activities commenced the week on a negative note, sustaining the bearish run from last week.

Nigeria’s Balance of Payment Plunged to Deficit in Q1. The Nigeria’s balance of payment (BoP) has slipped to $11.18 billion deficit in the first quarter of 2020 according to data released by the apex bank.