WEEKLY MARKET REVIEW

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The past week (14/6/2018) in the Nigerian Stock Exchange market witnessed a marginal growth of 0.66% in the All Share Index, Stocks like Dangote Cement Plc, Nestle Plc and Guaranty Trust Bank Plc enjoyed a marginal gains of 3.2%, 0.35% and 3.09% respectively. This fact does not mean there are no Stocks that lost value in the Exchange Market as companies like the Nigerian Breweries Plc, Zenith Bank Plc, Union Bank Plc etc. lost 5.98%, 2.40% and 43.38% respectively in this week ending (14/6/2018) visaviz last week.

The Naira grew slightly in the FX market by 0.02% and 0.44% to the US dollar and British Pound Sterling respectively. Though, the prices of crude oil is marginally lower by 3.95% compared to last week’s prices, the effect is so far not adversely affecting the economy. The promise of the Federal government to sign the 2018 budget into law also brewed some confidence into the minds of investors around the country.

Politics can not be dissociated from the economy as economic policies are formulated by the political class, this analogy given is to shed light on the trade war embarked upon by the US President Donald Trump; last week the US announced a 10% and 25% tariff on Aluminum and Steel against Mexico, Canada and the European Union (EU) and while investors around the world are still chewing the bitter pill, the US imposed another $50billion tariff on China this week. Next week promises to be a crucial moment as China promised to reciprocate in kind against the US, investors around the world await the outcome of this Trade war.

1.0 NIGERIAN CAPITAL MARKET
This Week (14/6/2018) Last Week(8/6/2018) Week on Week Change % Change
Stocks
Dangote Cement (N) 239 235.8 3.2 1.36
Nigerian Breweries (N) 110 117 -7 -5.98
Guaranty Trust Bank (N) 41.5 41.15 0.35 0.85
Nestle Plc (N) 1495 1450.2 44.8 3.09
Zenith Bank (N) 26.4 27.05 -0.65 -2.40
WAPCO (N) 39.1 39.8 -0.70 -1.76
Seplat (N) 754.9 711.1 43.80 6.16
ETI (N) 20 20 0.00 0.00
Unilever Plc (N) 55 55 0.00 0.00
Stanbic IBTC (N) 49 48.2 0.80 1.66
Access Bank Plc (N) 10.6 10.7 -0.10 -0.93
Forte Oil (N) 36.95 37 -0.05 -0.14
UBA (N) 11 10.95 0.05 0.46
Guinness Plc (N) 97 99.75 -2.75 -2.76
Total (N) 193.3 193.3 0.00 0.00
First Bank (N) 10.85 10.55 0.30 2.84
Union Bank (N) 6.2 10.95 -4.75 -43.38
Dangote Sugar (N) 19.4 20 -0.60 -3.00
PZ (N) 20.75 20.75 0.00 0.00
Equity Market Capitalization (N) 14,101,698,856,627.80 14,007,951,076,515.60 93,747,780,112.20 0.67
Bond Market Capitalization (N) 10,025,426,995,248.90 – 10,025,426,995,248.90 -100.00
All Share Index 38,923.02 38,669.23 253.79 0.66
2.0 NIGERIAN MONEY MARKET
CBN Exchange Rates (USD to Naira) 305.4 305.45 -0.05 -0.02
CBN Exchange Rates (Pound to Naira) 407.312 409.1197 -1.8077 -0.44
CBN Exchange Rates (Euro to Naira) 359.1199 358.8732 0.2467 0.07
CBN Exchange Rates (Yuan to Naira) 47.6997 47.6465 0.0532 0.11
Interbank Exchange Rates (USD to Naira) 305.9 305.95 -0.05 -0.02
Interbank Exchange Rates (Pound to Naira) 407.9788 409.7894 -1.81 -0.44
Interbank Exchange Rates (Euro to Naira) 359.7078 359.4607 0.25 0.07
Interbank Exchange Rates (Yuan to Naira) 47.7782 47.7249 0.05 0.11
Parallel Market Exchange Rates (USD to Naira) 362 362 0 0.00
Parallel Market Exchange Rates (Pound to Naira) 488 490 -2 -0.41
Parallel Market Exchange Rates (Euro to Naira) 425 423 2 0.47
4.0 Macro Variables
PMS Price (N) 145 145 0 0
Diesel Price (N) 205 205 0 0
Kerosene Price (N) 210 210 0 0.00
Oil Price Per Barrel ($) 73.44 76.46 -3.02 -3.95
5.0 International Capital Market
Dow Jones Industrial Average (DJIA) 25,090.48 25311.92 -221.44 -0.87
S & P 500 2,779.66 2,778.53 1.13 0.04
FTSE 7633.91 7,679.55 -45.64 -0.59
CAC40 5501.88 5,450.22 51.66 0.95
Dax 13,010.55 12,763.46 247.09 1.94
Nikkei 22,851.75 22,694.50 157.25 0.69
6.0 International Money Market
% %
LIBOR Rate 1night -0.44014 -0.43843 -0.00171 0.39
7days -0.42743 -0.42529
30days -0.398 -0.40086 0.00286 -0.71
90days -0.35429 -0.35171 -0.00258 0.73
365days -0.234 -0.22686 -0.00714 3.15
7.0 Cross Rates
USD to Pound Sterling 1.3278 1.3405 -0.0127 -0.95
USD to Euro 0.8613 1.1769 -0.3156 -26.82
Pound to Euro 0.8744 0.878 -0.0036 -0.41
Euro to Pound 1.161 1.139 0.022 1.93