Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
The Week Ahead The National Bureau of Statistics (NBS) released Nigeria’s Q2’18 Gross Domestic Product (GDP) figures this morning, showing a real growth of 1.5% y/y (Vetiva: 1.6%, Consensus: 2.0%) for the period, below the 2.0% reported in the first quarter of 2018. Notably, we highlight that the slower pace of economic growth was partly driven by a weaker performance in the Oil & Gas sector – reporting a negative y/y r...
Shortened week ends in positive territory The ASI posted slight gains in a shortened week, rallying 63bps today to clinch a 45bps w/w gain. This positive activity was led by the Industrial Goods sector (d/d: +123bps; w/w:+196bps) which was in turn boosted by DANGCEM (d/d:+217bps; +682bps w/w). The Banking sector was positive on the day (+25bps) thanks to upticks in ETI (+417bps) and ZENITHBANK (+46bps), which offset losses in GUARANTY (-...
Politics and global concerns drive Nigeria into bear market The Nigerian equity market has lost 21% since its 2018 high on 19 January, indicating a bear market (accepted wisdom indicates bear territory is at least 20% off previous peak). The deterioration in market sentiment in the past six months can be attributed to greater political tensions within the country, as well as a wider risk-off approach to emerging markets amid U.S. monetary t...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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