Market Review Febuary

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market review

The rally experienced at the beginning of the year peaked in February as portfolio investors slowed down their interest in the Nigerian market. The market shed about 2.3% in value between the end of February and the same period in January, though the February performance is still positive, year to month, being that All-Share Index growth being 11.5%.

The February blues was not limited to the Nigerian market alone. Stock markets around the world also recorded bearish runs as markets waited for clarity on the new direction of the Federal Reserve Bank after the expiration of Janet Yellen. Yellen’s period had recorded continuous series of quantitative easing programmes as the Fed and other Central Banks in the world struggled to enhance growth in the face of an increasingly frugal and cautious consumer society.

Monetary indicators in Nigeria largely remained flat between January and February as the business environment rides on the relative stability in the price of crude oil to maintain an even keel. Additionally, the inability of the Central Bank to form a quorum due to non-confirmation of some new members by the Senate also hindered likely decisions on some key macro variables.

1.0 NIGERIAN CAPITAL MARKET
28/2/2018 31/1/2017 31/1/2017 Month on Month Change % Change YTD Change % Change
Stocks
Dangote Cement (N) 269.80 270.00 270.00 – 0.20 – 0.07 – 0.20 – 0.07
Nigerian Breweries (N) 135.90 147.00 147.00 – 11.10 – 7.55 – 11.10 – 7.55
Guaranty Trust Bank (N) 49.00 49.15 49.15 – 0.15 – 0.31 – 0.15 – 0.31
Nestle Plc (N) 1,442.00 1,470.00 1,470.00 – 28.00 – 1.90 – 28.00 – 1.90
Zenith Bank (N) 31.90 31.00 31.00 0.90 2.90 0.90 2.90
WAPCO (N) 51.90 54.95 54.95 – 3.05 – 5.55 – 3.05 – 5.55
Seplat (N) 660.50 685.00 685.00 – 24.50 – 3.58 – 24.50 – 3.58
ETI (N) 20.35 20.00 20.00 0.35 1.75 0.35 1.75
Unilever Plc (N) 51.20 44.50 44.50 6.70 15.06 6.70 15.06
Stanbic IBTC (N) 47.50 46.00 46.00 1.50 3.26 1.50 3.26
Access Bank Plc (N) 13.00 12.95 12.95 0.05 0.39 0.05 0.39
Forte Oil (N) 44.90 50.95 50.95 – 6.05 – 11.87 – 6.05 – 11.87
UBA (N) 12.70 12.70 12.70
Guinness Plc (N) 104.90 113.00 113.00 – 8.10 – 7.17 – 8.10 – 7.17
Total (N) 232.00 231.00 231.00 1.00 0.43 1.00 0.43
First Bank (N) 11.55 13.95 13.95 – 2.40 – 17.20 – 2.40 – 17.20
7Up (N) 101.97 101.97 101.97
Union Bank (N) 6.50 7.90 7.90 – 1.40 – 17.72 – 1.40 – 17.72
Dangote Sugar (N) 21.55 21.00 21.00 0.55 2.62 0.55 2.62
PZ (N) 24.15 22.40 22.40 1.75 7.81 1.75 7.81
Equity Market Capitalization (N) 15,549,792,393,545.20 15,895,877,383,156.30 15,895,877,383,156.30 – 346,084,989,611.10 – 2.18 – 346,084,989,611.10 – 2.18
Bond Market Capitalization (N) 9,713,889,103,207.72 9,481,135,579,109.16 9,481,135,579,109.16 232,753,524,098.56 2.45 232,753,524,098.56 2.45
All Share Index 43,330.54 44,343.65 44,343.65 – 1,013.11 – 2.28 – 1,013.11 – 2.28
2.0 NIGERIAN MONEY MARKET
CBN Exchange Rates (USD to Naira) 305.40 305.20 305.20 0.20 0.07 0.20 0.07
CBN Exchange Rates (Pound to Naira) 422.77 432.41 432.41 – 9.64 – 2.23 – 9.64 – 2.23
CBN Exchange Rates (Euro to Naira) 373.17 380.25 380.25 – 7.08 – 1.86 – 7.08 – 1.86
CBN Exchange Rates (Yuan to Naira) 48.29 48.49 48.49 – 0.20 – 0.40 – 0.20 – 0.40
Interbank Exchange Rates (USD to Naira) 305.90 305.70 305.70 0.20 0.07 0.20 0.07
Interbank Exchange Rates (Pound to Naira) 423.46 433.12 433.12 – 9.66 – 2.23 – 9.66 – 2.23
Interbank Exchange Rates (Euro to Naira) 373.78 380.87 380.87 – 7.09 – 1.86 – 7.09 – 1.86
Interbank Exchange Rates (Yuan to Naira) 48.37 48.57 48.57 – 0.20 – 0.40 – 0.20 – 0.40
Parallel Market Exchange Rates (USD to Naira) 363.00 364.00 364.00 – 1.00 – 0.27 – 1.00 – 0.27
Parallel Market Exchange Rates (Pound to Naira) 502.00 508.00 508.00 – 6.00 – 1.18 – 6.00 – 1.18
Parallel Market Exchange Rates (Euro to Naira) 443.00 450.00 450.00 – 7.00 – 1.56 – 7.00 – 1.56
3.0 CBN POLICY RATES
Monetary Policy Rate (%) 14.00 14.00 14.00
Liquidity Ratio (%) 30.00 30.00 30.00
Cash Requirement Ratio (%) 22.50 22.50 22.50
4.0 Macro Variables
GDP Growth Rate (%) 1.40 1.40 1.40
Unemployment Rate (%) 18.80 18.80 18.80
PMS Price (N) 145.00 145.00 145.00
Diesel Price (N) 205 200.00 200.00 5.00 2.50 5.00 2.50
Kerosene Price (N) 215 210.00 210.00 5.00 2.38 5.00 2.38
Oil Price Per Barrel ($) 65.98 68.99 68.99 – 3.01 – 4.36 – 3.01 – 4.36
5.0 International Capital Market
Dow Jones Industrial Average (DJIA) 25,084.00 26,149.39 26,149.39 – 1,065.39 – 4.07 – 1,065.39 – 4.07
S & P 500 2,720.00 2,823.81 2,823.81 – 103.81 – 3.68 – 103.81 – 3.68
FTSE 7,201.50 7,502.50 7,502.50 – 301.00 – 4.01 – 301.00 – 4.01
CAC40 5,320.49 5,481.93 5,481.93 – 161.44 – 2.94 – 161.44 – 2.94
Dax 12,435.85 13,819.48 13,819.48 – 1,383.63 – 10.01 – 1,383.63 – 10.01
Nikkei 21,791.78 23,444.34 23,444.34 – 1,652.56 – 7.05 – 1,652.56 – 7.05
6.0 International Money Market
% % %
LIBOR Rate 1night -0.44143 0.4724 0.4724 – 0.91 – 193.44 – 0.91 – 193.44
7days -0.42271 0.488 0.488
30days -0.40257 0.4943 0.4943 – 0.90 – 181.44 – 0.90 – 181.44
90days -0.37929 0.5245 0.5245 – 0.90 – 172.31 – 0.90 – 172.31
365days -0.25429 0.7991 0.7991 – 1.05 – 131.82 – 1.05 – 131.82
Federal Reserve Bank Rate 1.5000 1.5 1.5
European Central Bank Rate – 0.4000 -0.4 -0.4
7.0 Cross Rates
USD to Pound Sterling 1.3747 1.4174 1.4174 – 0.04 – 3.01 – 0.04 – 3.01
USD to Euro 1.2187 1.2395 1.2395 – 0.02 – 1.68 – 0.02 – 1.68
Pound to Euro 0.8865 0.8745 0.8745 0.01 1.37 0.01 1.37
Euro to Pound 1.128 1.1435 1.1435 – 0.02 – 1.36 – 0.02 – 1.36