Breakfast Report - June 24, 2019
Equity: Despite the positive close Friday- on the back of gains in cement names: WAPCO and DANGCEM - we foresee a mixed session with slight bias towards a positive close. While there is still dearth of sustainable catalysts to support the market, the current market prices present an attractive entry point for investors.
Stock Watch: Worthy of note is WAPCO which extended gains into Friday, also closing limit up at ₦11.55, riding on the positive sentiment from the proposed sale of its South African business.
Fixed Income: With current level of system liquidity we foresee a mixed session with a bullish tilt to start the week in the secondary market at the start of the week. With no discernable catalyst to boost investor sentiment, we foresee a mixed session in the bond market at the start of the week.
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