Morning Beats

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Shell pledges more domestic gas supply, 600mmscfd coming
The Shell Petroleum Development Company Joint Venture (SPDC JV) has said it is committed to working with the Federal Government and the energy companies to increase gas supply to the domestic market while reducing flared gas volume.The Nation
Speedy approval of FDP will attract investments, says Kachikwu
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said speedy approvals of Field Development Plan (FDP) by the Federal Government will attract huge investments into the oil and gas sector.The Nation
Meter manufacturers upbeat as govt is set to approve firms
Members of the Meter Manufacturers Association of Nigeria (MMAN) are confident of improving their output as the approval of some firms as Meter Asset Providers (MAPs) by the Nigerian Electricity Regulatory Commission (NERC) is underway.The Nation
Analysts differ on 14% MPR retention
Analysts have taken different positions on the retention of the Monetary Policy Rate (MPR) at 14 per cent by the Central Bank of Nigeria (CBN).The Nation
Nigeria’s industrial production has fallen by 41% –AfDB
Nigeria’s industrial value dropped by 41 per cent between 2012 and this year, the African Development Bank has said.Punch
Buhari yet to get 2018 budget from National Assembly
President Muhammadu Buhari has yet to get a clean copy of the 2018 Appropriation Bill as passed into law by the two chambers of the National Assembly last week.Punch
NNPC to settle N2.1bn owed NPA this week
The Nigerian Ports Authority has stated that all debts owed it by the Nigerian National Petroleum Corporation from 2017 to date, amounting to about N2.1bn, for services rendered to the national oil firm are to be settled this week.Punch
Capture 30% downstream business, Baru directs NNPC
A subsidiary of the Nigerian National Petroleum Corporation, NNPC Retail Limited, has been directed to take over 30 per cent market share of petroleum products distribution business in the nation’s downstream sector by 2020.Punch
Stock market falls for fifth straight day
The stock market continued its losing streak on Wednesday, as the market capitalisation of equities listed on the Nigerian Stock Exchange fell for the fifth straight day.Punch
NOVA Bank returns profit in 1st year
NOVA Merchant Bank Limited, one of the new merchant banks licensed by the Central Bank of Nigeria, Vanguard
Subdued GDP: Manufacturers call for stimulus to fast-track growth
Against the backdrop of a subdued economic growth in the first quarter of 2018 (Q1’18) as reported by the National Bureau of Statistics (NBS), the Manufacturers Association of Nigeria (MAN) has called on the federal government to initiate steps to stimulate faster economic growth.Vanguard

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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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