WEEK AHEAD

Weeckoamhmeaoddi( tymonday, 8th April – Friday, 12th April, 2019)

Oil: Brent likely to trade between $63 and $66 per barrel in near term. Easing tensions between the United States and Iran to put pressure on prices. OPEC’S output cut extension to moderate losses.

Cocoa: Cocoa prices rose by 0.37% to $2429 MT despite forecasts of higher production from West African Producers. Prices are expected to trend upwards as Ghana and Ivory Coast ban on cocoa supplies.

Fixed Income

Commercial paper with description “UBNP CPII 30-Jul-19” issued by Union Bank of Nigeria Plc, at 16% issue yield will mature on Tuesday, July 30.

A 182-day Treasury bill at the Primary market sold for N69.6 billion at 13.5% stop rate will mature on Thursday, August 1.

Currency

The naira is expected trade around N360 per dollar on the Investors & Exporters window owing to the sustained intervention of the Central Bank in the foreign exchange market and aggressive OMO intervention strategy.

Data Release

The Nigerian Bureau of Statistics will on Tuesday, July 30, release data on Nigerian Agriculture Sample Survey 2018/19.

Event

Seplat Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company listed on both the Nigerian Stock Exchange and London Stock Exchange, today announces that it will issue its Half Year 2019 Financial Results on Tuesday 30 July 2019. At 14:30pm GMT (London) and 14:30pm WAT (Lagos) on Tuesday 30 July 2019, the Executive Management team will host a conference call and webcast to present the Company’s results.