Morning Beats

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Adeosun appoints Uduk Ag. SEC D-G
The Minister of Finance, Mrs. Kemi Adeosun, has appointed Mary Uduk as acting Director-General of Securities and Exchange Commission (SEC)Vanguard
NAL workers’ pension: Aviation unions issue fresh ultimatum
Aviation unions have issued a fresh 14-day ultimatum to the Federal Government to pay ex-workers of the defunct Nigeria Airways.Punch
Lagos trade fair complex generates N500m revenue in four months
The Executive Director, Lagos Trade Fair Complex Management Board, Mrs. Lucy Omosefe-Ajayi, said the board recorded more than N500m in the first quarter of 2018.Punch
Ogun debt profile about N103bn – Amosun
The Ogun State governor, Senator Ibikunle Amosun, says the debt profile of the state  as of Thursday April 12. 2018 stands at N103bn.Punch
NNPC subsidiary’s profit drops by 34%
The National Engineering and Technical Company Limited on Friday announced that its profit before tax for the 2017 financial year dropped by 34 per cent to N3.26bn when compared with the previous year.Punch
Kenya's $3.5 Billion Road Project Delayed by Debt Concerns
Kenya’s second-biggest infrastructure project since independence five decades ago, a $3.5 billion inter-city expressway, will be delayed amid concerns by lawmakers that East Africa’s largest economy is taking on too much debt, the company building it said.Bloomberg
Kenya's Biggest Bank to Pay Bonuses After Court Battle
KCB Group Ltd.’s Kenya Commercial Bank can pay its management their 2017 annual bonuses after a court ruled against a labor union’s efforts to block the disbursements.Bloomberg
The Stock Market Is Getting What It Abhors
As a Goldman Sachs quant researcher, Emanuel Derman published a seminal research paper back in 1999 in which he said that there were volatility regimes. Sometimes volatility was lowBloomberg
CBK says banks to take full capital hit from 2019 loans
Kenyan banks will take a full hit from provisions for new loans issued in 2019 and beyond after the Central Bank of Kenya (CBK) refined its capital waiver rules.Business Daily
Reserve Bank commissions forensic investigation into VBS Mutual Bank
The Bank will investigate VBS, which was placed under curatorship after withdrawals from municipalities led to a cash crunchBusiness Day

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Nigerian Stock Exchange This Week

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The Market returned to its five days trading after the sallah break of last week. It wasn't a great week for the Market even as it climax the end of trading for the month of August.  The Market opened on a negative notes on Monday, however, made a bold return on Tuesday but to frizzle out for the rest of the week with a three days consecutive losses.  The All Share index lost in what seems to be the bear dominated week. The index was down  1.63% to close the week at 34,848.45. This brought the year to date return of the ASI to (8.88%) on the negative side of the number line. The bull had a larger share of the Market though, with a breadth of 3 in favour of the Bulls. However this is little to little to reflect on the overall Market as highly capitalized stocks shed weight.  EQUITY A total turnover of 1.533 billion shares worth N23.026 billion in 17,009 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 968.947 million shares
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