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Margin Call

Margin Call

Soji Akinlabi analyses market performance across different stock exchanges in Africa. We look across different securities, equities, fixed income, precious metals, and commodities.

2019-09-30 12:56:02.0

Trump's Impeachment Troubles Global Capital Markets; Large-cap stocks Drag down Nigerian Equities Last Week; Global Sentiments Depressed Emerging Market Equities

Vivian from Afrinvest joins Soji Akinlabi to provide insights into the trends in the global capital market and specifically look at the performance metrics on the Nigerian Stock Exchange.

The global capital market is currently troubled by the recent moves to impeach president Donal Trump on the stories told by a whistleblower; Johannesburg Stock exchange closed the week ended 27th September 2019, marginally lower riding on the current glooming global economic sentiment. Global Sentiments Depressed Emerging Market Equities; Nigerian Equities Continue Sell-offs; Trump's Impeachment Troubles Global Capital Markets.

Global Sentiments Depressed Emerging Market Equities; Large-cap stocks Drag down Nigerian Equities Last Week; Trump's Impeachment Troubles Global Capital Markets.

2019-09-23 13:26:58.0

Some Stories That Drove Global Capital Market Last Week: Jeremi Powell Bows to Pressure on Rates; Buhari Assembles Economic Ninjas; Emerging Markets Giants Hold Rates Steady...

The sentiment that opens the week ended 20th September 2019 was the outcome of ECB meetings other than the attack on Saudi's Aramco oil facilities. 

Robert Omotunde, Head of Investment Research at Afrinvest joins  Soji Akinlabi on the show to look at the outlook of the global capital market and the fundamentals that shaped investors' sentiment across different asset classes. From the US fed decision to cut rate by 25 basis points to South Africa and Nigeria maintaining rates. The Emerging market generally was attractive to investors seeking higher yield following the European Central Bank decision to cut interest rate the previous week.

On the Nigerian equity market; A total turnover of 1.272 billion shares worth N18.750 billion in 19,482 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.147 billion shares valued at N14.082 billion that exchanged hands last week in 17,980 deals. The Financial Services industry (measured by volume) led the activity chart with 945.947 million shares valued at N9.743 billion traded in 11,046 deals; thus contributing 74.38% and 51.96% to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 82.934 million shares worth N5.556 billion in 2,862 deals. The third place was the Conglomerates Industry with a turnover of 80.821 million shares worth N267.101 million in 1,163 deals. Trading in the Top Three Equities namely, FBN Holdings Plc, Guaranty Trust Bank Plc and Access Bank Plc (measured by volume) accounted for 482.334 million shares worth N6.561 billion in 4,724 deals, contributing 37.93% and 34.99% to the total equity turnover volume and value respectively.

The Johannesburg Stock Exchange moved up a little on Friday 20th September 2019, but with a wow returns of -1.18 %, with Naspers and Prosus leading the losers table. Global equities have been battered during the week by volatility in the oil price, attributed to the attack on Saudi Aramco's oil facilities at the weekend raised the specter of escalating conflict with Iran. The US Federal Reserve also bowed to pressures from President Trump at its policy meeting on Wednesday, while the South African Reserve Bank kept interest rates on hold at 6.5% on Thursday. The Bank retained its growth forecasts at 0.6% for 2019, but revised down its 2020 outlook to 1.5%, from 1.8%, and 2021 to 1.8% from 2% previously. Miners fared best on Friday, with the platinum index adding 3.88%, gold miners 3.41% and resources 1.06%. Gold, which is seen as a safe haven, was boosted by concerns over rising tension in the Middle East and was last seen up 0.37% to $1,504.01. It gained about 1% during the week. Platinum added 0.9% to $945.73 but was flat for the week. It has, however, been creeping up gradually since the start of 2019, and is now up nearly 20% for the year, its biggest gain since 2010.

2019-09-23 09:43:46.0

NSE and JSE Ended Today's Trading Session Negative; Europe Manufacturing Data Depresses Investors on Global Economy; Precious Metals Soar on Investors' Need for Safety

The Nigerian Stock Exchange closed trading session today 23rd September 2019 on a negative, with NSEASI contracted by 0.17% and a total turnover of 1.272 billion shares worth N18.750 billion in 19,482 deals was traded this week by investors on the floor of the Exchange in contrast to a total of 1.147 billion shares valued at N14.082 billion that exchanged hands last week in 17,980 deals.

The Johannesburg Stock exchange also ended today's trading session with JSEASI contracted by 1.39% and all indexes also ended negative except the Gold mining index with an appreciation of 4.17% still riding in the perceived need for a safe have by investors. On the currencies side, the South African Rand gained against all major currencies including the greenback, except the Japanese Yen.

The disappointing Eurozone manufacturing data depresses the global equities at the opening of the market today, with Germany on the verge of a technical recession if the 3rd quarter economic data comes as disappointing as Q1 and Q2.

Generally, investors are still worried about the prolong US-China trade dispute and with the sentiment that the upcoming talks in October might not deliver the needed news as quick as possible.

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