Breakfast Report - 2 September 2019
Equity: The ASI closed last week in the red as sell pressure dominated most trading sessions on the back of profit - taking. In the absence of any positive catalyst, we expect the equity market to remain pressured in the coming week.
Stock Watch: STANBIC released H1'19 results with Gross earnings up slightly by 2.77% and PAT down 15.87% y/y while interim dividend was maintained at ₦1.00. Despite the unimpressive results, the stock witnessed positive investor sentiment in Friday's session. The buy interest is likely as a result of investors taking advantage of the strong dividend yield, given the lower share price y/y.
Fixed Income: With the CBN increasing rates across the auctions this week, we foresee sentiment turning bearish at the start of the week, as traders cautiously anticipate another round of OMO auctions due to robust liquidity. In the bond market, with no discernable catalyst to shift the tide of the market, we expect the current tepid sentiment in the space to filter into Monday’s session.
Vetiva provides clients with independent and unbiased access to analysis and opinion. We keep our clients on the cutting edge of market information and provide up to date market intelligence on quoted companies. Our services allow brokers, investment firms, and asset managers focus their energies on developing investment strategies and client relationships.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.