May 29, 2022

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FINANCE MORNING FOR 29TH OF NOVEMBER 2016

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FINANCE MORNING FOR 29TH OF NOVEMBER 2016


Nigerian Breweries Plc: Investors buck slide in share price
It appears investors are no longer sure-footed on Nigerian Breweries Plc, NB, following conflicting signals from the last nine-month results, 9M’16. Though huge volumes of the stock are traded daily on the Nigerian Stock Exchange, NSE, the share price dynamics became transfixed at N141 for over three weeks now. It had recorded a downwards movement shortly after the interim results was announced, from a high of N146. Source: Vanguard. Read More.
Implement 60% forex allocation to manufacturers, FG told

The Federal Government has been urged to ensure the effective implementation of 60 per cent foreign exchange, forex, allocation to manufacturers for raw materials and machinery importation into the country. Engr. Reginald IKeh Odiah, Managing Director/CEO, Bennett Industries Ltd, gave the charge at the 9th CEOs/MDs Business Luncheon of Manufacturers Association of Nigeria, MAN Ogun State Chapter. Source : Vanguard. Read More.
MTN begins share-listing process
Mobile giant MTN has discussed with Nigeria Securities and Exchange Commission (SEC) a possible initial public offering and share sale structure.
Nigerian Stock Exchange (SEC) Director-General Munir Gwarzo, said yesterday that MTN had discussed the possibility of issuing various classes of shares to targeted investor groups.
He said the telecom firm was looking at three classes, which would be new in Nigeria.
According to him, the commission was willing to support the share sale as long as it is within local laws. Source: TheNation. Read More.
7 Simple Strategies To Avoid Overspending This Holiday Season
As the largest gift-giving holiday season, the final month of the calendar year accounts for nearly 30 percent of total annual sales for some retailers. While this is great for suppliers, it is the costliest season of the year for shoppers. Americans spend 9X the amount of money retail shopping during the Christmas season than any other season of the year. Source: Forbes. Read More.
13 Safe Shopping Tips To Protect Consumers & Taxpayers On Cyber Monday
Americans love to shop – especially over the long Thanksgiving holiday weekend. According to the National Retail Federation (NRF), more than 154 million consumers were expected to shop this weekend, up from 151 million shoppers in 2015 . More than 4 in 10 of those shoppers went online. Even more Americans are expected to log on today, Cyber Monday, as 122 million Americans go online shopping. Source: Forbes. Read More.

Dollar steadies with bonds, oil anxious about OPEC
The U.S. dollar took a breather on Tuesday as global bonds steadied from their recent rout, while equities flatlined as political risk resurfaced in Europe ahead of a referendum in Italy this weekend.

Oil prices remained jittery in the countdown to Wednesday’s OPEC meeting but industrial commodities continued to benefit mightily from Chinese demand, both real and speculative. Source: Reuters. Read More.
Oil prices dip on scepticism ahead of OPEC meeting
Oil prices dipped on Tuesday on doubts that producer cartel OPEC will be able to hammer out a meaningful output cut during a meeting on Wednesday aimed at reining in a global supply overhang and propping up prices.

International Brent crude oil futures LCOc1 were trading at $47.99 per barrel at 0305 GMT, down 25 cents, or 0.5 percent, from their last close. Source: Reuters. Read More.
Black Friday Online Sales Hit a Record, Mobile Up (AMZN, AAPL)
According to data from Adobe, Black Friday e-commerce sales touched a record $3.3 billion this year, an increase of 21.6 percent from 2015 figures. Mobile commerce, which is poised to become bigger in the coming years, accounted for 36 percent or $1.2 billion of total sales. That figure is an increase of 33 percent from last year’s figures. Source: Investopedia. Read More.
AT&T unveils its TV streaming service DirecTV Now, which will launch on Nov. 30
AT&T today officially unveiled its DirecTV Now live TV streaming service at an event held in New York City. The service, which is launching on November 30, was first announced earlier this year.

Many of the details about the new service were reported already, including a starting price point of $35 per month, and a lineup of more than 100 channels, with the option to add on premium networks like HBO and Cinemax. Source: Techchruch. Read More.
Samsung Electronics considers splitting firm in two
Samsung Electronics has confirmed it is considering dividing the company into two separate firms.
The company has been under pressure from some investors to break itself into a holding unit and an operating company to boost shareholder value.
The South Korean technology giant also announced plans to increase dividends and said it would continue to buy back more shares. Source: BBC. Read More.
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