Market News in 2010 and Impact on NSEs ASI - Proshare - 040111

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Market News in 2010 and Daily Impact on the NSEs ASI www.proshareng.com ISSN 1597 - 8842 Vol. 1 No. 55Page

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ISSN 1597 - 8842 Vol. 1 No. 55

2010201020102010

The Nigerian Capital Market Report

Market News in 2010 and Daily Impact on the NSEs ASI

Issued on January 04, 2011


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Inter-bank rates stay low as N60bn maturities hit market-Although the capital market is currently on a three-

month low in its All Share Index (ASI), there are indications that the money market will continue to enjoy

impressive performance with N60 billion of various maturities hitting the market this week. This is aside the

fact that some energy companies have made moves toward pumping United States dollars into the forex

market.

CBN tackles inflation interest rates as it mops up N132bn-In a bid to control liquidity in the system the


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Market News in 2010 and Daily Impact on the NSEs ASI www.proshareng.com ISSN 1597 - 8842 Vol. 1 No. 55 Page 106

CBN tackles inflation, interest rates as it mops up N132bn-In a bid to control liquidity in the system, the

Central Bank of Nigeria (CBN) has announced that it will withdraw N132 billion (about $890 million)

through the issuance of treasury bills next week. The measure will help the apex bank ensure it is within

inflation and interest targets for the year. The money which the apex bank is raising on behalf of the Federal

Government will be repaid at different times. Of the total amount that will be raised, N31.84 billion will be

paid back in 91 days; N50.30 billion in 182 days, while N50 billion will be paid back in 364 days.

European shares slump on economic fears- Europes main stock markets slid yesterday after heavy losses in

Asia that were largely caused by worries about the strength of the Chinese and Japanese economies, traders

said. London's benchmark FTSE 100 index dropped 2.04 per cent to 4,968.97 points in late morning deals,

Frankfurt's DAX 30 dived 2.20 per cent to 6,022.36 points and in Paris the CAC 40 tumbled 2.59 per cent to

3,483.60. The Stoxx 50 index of leading eurozone shares decreased by 2.62 per cent in value to 2,598.72

points.

Reforms needed to boost Nigeria bond market , CBN-Further reforms, including pensions and insurance, are

needed to enliven Nigerias corporate debt market, Central Bank of Nigeria (CBN) Governor, Sanusi Lamido

Sanusi, said on Monday.Only two Nigerian companies have issued bonds, one of which has now expired,

meaning there is no established benchmark yield curve for Nigerian corporate debt. Several banks have

announced plans to issue debt in the coming months, focussing attention on further reforms as authorities seek

to develop the market.


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