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  #34561 (permalink)  
Old 29th June 2016, 10:17 PM
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Default Re: MarketWatch

Quote:
Originally Posted by Picolena66 View Post
Naira float makes Nigeria stocks interesting again -Templeton's Mobius

LONDON, June 29 (Reuters) - Nigeria's stock market is becoming the most
interesting one on the African continent to foreign investors after the country
devalued its currency, emerging market veteran investor Mark Mobius said on
Wednesday.
Earlier in June, Africa's biggest economy finally ditched its 16-month old currency
peg to the dollar that had throttled foreign exchange markets, led to widespread
capital flight and caused its first quarterly economic contraction since the 1990s in
a move widely welcomed by investors.
"Probably now, it would be Nigeria, simply because they are in such a bad shape,"
said Mobius, executive chairman of Templeton Emerging Markets Group.
"Everybody is concerned what is happening to the country ... so Nigeria would be
the place to look now," he said in an interview on the sidelines of an Africa
investment conference.
Templeton has around $700 million assets under management in its dedicated
Africa fund, which has its biggest holdings in Egypt, Nigeria and South Africa.
"The naira is still a bit overvalued, so we could see a further fall in the naira," he
said.
After the peg of just under 200 to the dollar was abandoned, the naira has been
trading at around 282 this week but was trading at around 350 on the black
market.
Mobius said Templeton could add to its holdings in the country in the second half
of the year.
But he added he would like to see a further rise in oil prices, more outside
investment in the power sector and a push on law and order in the impoverished
but oil-rich Delta region as well as see more progress in how the government deals
with the threat from militant group Boko Haram.
Stocks had rallied more than eight percent last week after the peg was removed.
However, stocks have extended losses this week amid fears that demand for riskier
assets will evaporate and the flow of foreign funds into Nigeria will dry up as a
consequence of Britain's vote to leave the European Union last week.
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  #34562 (permalink)  
Old 4th July 2016, 06:20 PM
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Default Re: MarketWatch

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Originally Posted by PETERICHY View Post
I will advice investors to stay away from the STOCK MARKET for now more expecially this 2 banks till the coast get cleared. ZENITH & FIRST BANK.

*ThE OcToPuS*
After 24months of dilly-dally the coast is now clear.

The sacrificial lamb (SKYBANK) has been taken sent to golgotha to pave way for others.

So we should expect some crazy BULL in this 3rd quarter.

*ThE OcToPuS*
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  #34563 (permalink)  
Old 7th July 2016, 05:21 AM
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Default Re: MarketWatch

Quote:
Originally Posted by PETERICHY View Post
After 24months of dilly-dally the coast is now clear.

The sacrificial lamb (SKYBANK) has been taken sent to golgotha to pave way for others.

So we should expect some crazy BULL in this 3rd quarter.

*ThE OcToPuS*
Central Bank Of Nigeria Claims “No Nigerian Bank” Is In Distress | Sahara Reporters

The Central Bank of Nigeria (CBN) has denied what it called malicious rumors and unfounded speculations that some banks in the country are in distress or may be in the process of doing so.

Neither Skye Bank nor any other bank in the industry is in distress, it said in a statement signed by Isaac Okorafor, its Acting Director, Corporate Communications.

The statement followed stories in the media, including SaharaReporters, over this weeks sudden mass resignation of the board of Skye Bank.
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  #34564 (permalink)  
Old 7th July 2016, 11:09 PM
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Default Re: MarketWatch

Dogara to ring bell at Nigerian Stock Exchange Friday
4 hours ago
Yakubu Dogara, Speaker of the House of Representatives, will on Friday ring
the bell at the Nigerian Stock Exchange (NSE) in Lagos.
Dogara, will ring the bell to close activities on the floor of the Exchange by
2pm.
The Speaker was invited to the NSE in recognition of his contribution and
that of the House of Representatives in deepening the market through
legislation.
The House had initiated legislation to effectively regulate the stock market to
ensure the safety of investors funds.
Dogara who led the campaign towards deepening of the Exchange while
declaring open a conference organised by the House Committee on Capital
Market, reiterated the resolve of the House to initiate legislations that will
compel multinational oil, gas and telecommunications companies doing
business in the country to enlist a certain percentage of their value on the
Exchange.
He had stated further that large companies in the country must be
compelled to list on the capital market in order to deepen the market and
make capital available for investors and create employment.
The Speaker has also called for severe sanctions against fraudulent stock
market players as part of measures to strengthen the countrys financial
market.
While expressing confidence that the stock market could provide the needed
platform to revamp Nigerias economy, the speaker had also said the House
of Representatives was ready to contribute its quota, to check the drift in
the sector.
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  #34565 (permalink)  
Old 8th July 2016, 08:04 PM
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Default Re: MarketWatch

Quote:
Originally Posted by PETERICHY View Post
After 24months of dilly-dally the coast is now clear.

The sacrificial lamb (SKYBANK) has been taken sent to golgotha to pave way for others.

So we should expect some crazy BULL in this 3rd quarter.

*ThE OcToPuS*
you saw FBNH and ZENITH BANK Through you crystal ball, but you no see SKYE BANK AT all, are you sure this your ball is still crystal clear??
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  #34566 (permalink)  
Old 9th July 2016, 01:00 PM
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Default Re: MarketWatch

The Naira remained stable in the interbank market at N282.02/$ although it traded between N282.50-282/$ during intraday. According to FMDQ ,a total of $86m was traded in 15 deals. There was no CBN intervention on Friday 8 July 2016 according to a stockbroking firm market report. fpi and fdi family are here o.
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  #34567 (permalink)  
Old 12th July 2016, 01:54 PM
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Default Re: MarketWatch

AMCON to wind up MRS Holdings over N81bn debt | The Sun News
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  #34568 (permalink)  
Old 17th July 2016, 12:17 PM
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Default Re: MarketWatch

Quote:
Originally Posted by MissedOpportunities View Post
Finally ... But it will be resold at a discount and another member of the family will still buy the coy rebrand through a South African firm and repurchase same when Ultimate BIG BROs refinery starts operation.
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