Morning Beats

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Industry loses N240b to eight million uninsured automobiles
The insurance industry has lost a whopping N240 billion premium income from the non-insurance of an estimated eight million tricycles and motorcycles which ply Nigerian roads between 2000 and 2017, The Guardian has learnt.Guardian
SEC restates commitment to robust capital market
The Securities and Exchange Commission, SEC has reiterated its resolve to collaborate with relevant stakeholders to further develop and deepen the capital market.Guardian
Oil slides as Saudi prepares to open taps

Organisation of Petroleum Exporting Countries (OPEC) largest producer, Saudi Arabia, is offering extra oil on top of its contractual volumes to some buyers in its key market-Asia.The Nation
LCCI frowns at tariff hike on detergents, noodles, others

The Lagos Chamber of Commerce and Industry (LCCI) has frowned at increased tariff on essential items such as detergent, toilet papers, facial tissue, Spaghetti and Noodles.The Nation
IMF: Nigeria’s economic recovery lifts Africa’s outlook
The International Monetary Fund (IMF) has said that economic growth in Nigeria due to rise in commodity prices will stimulate growth in other Sub-Saharan African economies.The Nation
Bright outlook for LNG up to 2030s — Report
THERE are indications that the output of the Nigerian Liquefied Natural Gas, NLNG, train-7 will attract higher demand globally, going by the forecast by DNV GL, a globally renowned oil & gas research organisation.Vanguard
Naira depreciates to N361.85/$
The naira yesterday depreciated by 23 kobo to N361.85 per dollar in the Investors and Exporters (I&E) window.Vanguard
Stock market ends lower as 32 firms lose
The equities market of the Nigerian Stock Exchange extended its losses on Monday as the prices of 32 stocks depreciated at the close of trading.Punch
E-dividend: SEC to enlighten stakeholders in P’Harcourt
The Securities and Exchange Commission has said its Port Harcourt Zonal Office will hold a town hall meeting with stakeholders and the general public.Punch
Metering: Ask Discos to recapitalise, FG tells NERC
The Federal Government on Monday stated that the Nigerian Electricity Regulatory Commission had several options at its disposal that it could use to enforce the contract mandating power distribution companies to provide meters for their customers and eliminate estimated billing in the sector.Punch
Volpi is not our shareholder —Oando
Oando Plc has clarified that it is not affected by the July 6, 2018 verdict of the London Court of International Arbitration awarding $680m in favour of Ansbury Investments Inc., owned by an Italian-Nigerian businessman, Gabriele Volpi.Punch
Customs seizes N48m wood
Seven held in Katsina The Nigeria Customs Service (NCS) has intercepted unprocessed wood worth over N48 millionThe Nation

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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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