BusinessDay 25 Oct 2019

Page 1

businessday market monitor

Biggest Gainer

Biggest Loser

FO GUINNESS N17.60 10.00pc N26.45 -9.88pc 26,357.24

Foreign Reserve - $40.83bn Cross Rates - GBP-$:1.28 YUANY-N 51.14 Commodities Gold

Cocoa

US$2,501.00

₦2,678,435.78 -3.53pc

Crude Oil

I

N300

Foreign Exchange

Buy

Sell

$-N 357.00 360.00 £-N 445.00 456.00 €-N 394.00 401.00

$1,502.17 $61.62

news you can trust I **FRIDAY 25 OCTOBER 2019 I vol. 19, no 421

FMDQ Close

Everdon Bureau De Change

Bitcoin

NSE

g

Market

Spot ($/N)

I&E FX Window CBN Official Rate Currency Futures

($/N)

fgn bonds

Treasury bills

362.17 306.95

3M -0.12 12.28

NGUS DEC 24 2019 362.68

6M

L-R: Emeka Emuwa, CEO, Union Bank; Aishah Ahmad, deputy governor, financial systems stability, Central Bank of Nigeria (CBN), and Chukwuemeka Nwaijuba, minister of state for education, at the inauguration of Edu360 in Lagos, yesterday. Pic by Pius Okeosisi

10 Y 0.00

20 Y -0.07

14.11

14.17

14.50

NGUS MAR 25 2020 363.53

@

g

www.

-0.15

5Y

0.00 12.65

NGUS OCT 28 2020 365.50

g

Frequent tanker accidents fuel calls for haulage alternative

Local, foreign investors shun cheap Nigerian stocks as outlook worsens H

...rail, waterways, pipelines top picks

CALEB OJEWALE & STEPHEN ONYEKWELU

OLUWASEGUN OLAKOYENIKAN & SEGUN ADAMS

N

igerian stocks are getting cheaper but nobody is buying, as hopes of a rebound in the mar-

CBN extends OMO ban to secondary market

ket now falter on higher yields on fixed income securities and declining interest of foreigners in Nigerian assets.

Foreigners have been dumping stocks for the most of the year in the market now trading at its lowest valuation ever, but

big domestic investors who are mostly pension fund managers are unmoved even by a pos-

Continues on page 34

aulage of petroleum products with tankers by road remains the predominant mode of moving the products across Nigeria. Every year 458,075 trucks move 1.46 billion litres of petroleum products to filling stations across the country, according to data from the Nigerian National Petroleum

Continues on page 2


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BusinessDay 25 Oct 2019 by BusinessDay - Issuu