Analysts at United Capital Plc are optimistic as they predict a good finish for the Nigerian stock market in 2019 despite their poor performance in 2018 and a dwindling start in 2019.
This prediction is noted in the Nigerian outlook for investment banking, asset management, securities trading, and trustee services for 2019, themed: ‘Sailing through the storm’.
The report focuses on the progression and regression of the global economic outlook from 2015 till date, and possible steps and risks to take to shape it up.
The Group Chief Executive Officer (GCEO) of United Capital Plc. Peter Ashade said,
“The uncertainties around the election and transition period, and the need to implement bold policy changes are the biggest issues identified for investors in 2019. Asides the need to address the badly needed policies changes, as well as take bold decisions and implement them our 2019 Economic Outlook provides insights into how local and foreign investors could wade through uncertainties and make decisions that would take them to the next level”.
Performance in previous years
The Nigerian stock market had negative returns of -17.4% and -6.2% in 2015 and 2016 respectively but had a major come-back of 42% in 2017. Prior to this, its index ended in the red, down 17.81% in 2018.
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United Capital Plc was incorporated in Nigeria on the 3rd of August, 2012. The company was listed on the NSE on the 17th of January, 2013, after it was spun off from UBA Plc.
Principal activities of the firm are the provision of investment banking services, portfolio management services, securities trading, and trusteeship.