Morning Beats

Nigeria adds to $42.6tr new market bank assets

Global Progress Report on Sustainable Banking Network says Nigeria remains a major contributor to the $42.6 trillion bank assets by 34 emerging markets countries.The Nation

CCNN to pay N1.57b dividend as net profit rises by 157%

The board of directors of Cement Company of Northern Nigeria (CCNN) Plc has earmarked N1.57 billion for distribution to shareholders as cash dividend for the 2017 business year as the cement manufacturing company grew its net profit by 157 per cent.The Nation

Cellulant gets CBN’s payment approval

The Central Bank of Nigeria (CBN) has issued an approval in principle to Cellulant Nigeria Limited to operate as a Payment Solution Service Provider in Nigeria having satisfied the stringent requirements of the CBN.The Nation

Oil prices near $70 on lowering U.S drilling

Oil prices have been lifted by a drop in United States (U.S.) drilling activity as well as by expectations that the country could re-introduce sanctions against Iran.The Nation

Afreximbank’s $1.5b facility for Zimbabwe

The African Export-Import Bank (Afreximbank) will arrange between $1 billion and $1.5 billion of funded and guarantee facilities to support businesses interested in investing in Zimbabwe, its President, has announced.The NAtion

Stockbroking firms move to reduce operational risks

Stockbroking firms under the auspices of the Association of Stockbroking Houses of Nigeria (ASHON) have underscored the importance of sound risk management culture among capital market operators in order to safeguard market integrity and investors’ confidence.The Nation

Analysts cautious on equities outlook in second quarter

Corporate earnings, macroeconomic performance, bargain value and election activities are major factors that will shape the performance of the Nigerian equities’ market in the second quarter of 2018.THe Nation

GIABA sensitises NPOs on fight against money laundering

The Intergovernmental Action Group against Money Laundering in West Africa (GIABA) is holding a regional workshop on developing effective frameworks and structures to fight Money Laundering and Terrorist Financing (ML/TF) through Non-profit Organisations (NPOs).The Nation

Foreign investors eye $450m Tomaro Industrial park

Foreign investors from China and Europe have indicated interest in the $450 million Tomaro Industrial Park, which would generate about 2,000 direct employment for Nigerians.Vanguard

ChocoLove malt drink enters Nigerian market

Sweet Nutrition Limited (formerly known as Bayswater Industries Limited), manufacturers of fast-moving consumer goods, has unveiled Chocolove Malt drink into the chocolate drink market.Vanguard

Naira down marginally to N360.21/$ in I&E

The Naira yesterday commenced the week with a marginal depreciation to N360.21 per dollar in the Investors and Exporters (I&E) window of the foreign exchange market.Vanguard

China, Hong Kong stocks down amid trade war fears

China and Hong Kong stocks fell on Tuesday as trade war fears resurfaced after Beijing unveiled retaliatory trade measures against the United States.Punch

London close: FTSE begins Q2 on back foot

London stocks started the second quarter by adding to the losses of the first, with solid manufacturing data and an upbeat start on Wall Street not proving strong enough catalysts.Punch

NSE records N123bn drop in foreign transactions

Foreign portfolio investors’ transactions at the Nigerian Stock Exchange dropped by N123bn in the first two months of the year.Punch

Manufacturing index closed March at 56.7 points – CBN

The Central Bank of Nigeria said Manufacturing Purchasing Managers’ Index closed March at 56.7 index points as level of business activities in the country continued to increase.Punch

Revamped Nigerian MPC May Make the Same Rates Call as Before

The Nigerian Monetary Policy Committee will probably leave interest rates unchanged at its first meeting of the year even though the panel has added five new members since its previous gathering in November.Bloomberg

Stock Rotation Comes to Emerging Markets

It isn’t just a technology selloff in emerging markets. It’s a full-fledged rotation away from cyclical stocks and into defensive ones.Bloomberg

Investors staked N136.24 billion in equities in March

Equity transactions on the Nigerian Stock Exchange (NSE) for the month of March recorded a total of 10.166 billion shares valued at N136.241 billion in 103,441 deals, representing a 14.88% drop in volume terms and 28.49% rise in value when compared to the preceding month of February.Guardian

Flat Asian markets offer little direction for JSE — but Tencent could be a drag

Asian markets were generally flat on Wednesday morning, giving little clue as to whether the JSE’s all share index will rebound from Tuesday’s 1.1% drop.Business Day