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  #1 (permalink)  
Old 12th April 2007, 11:32 AM
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Default News Highlights

Just a mix of what might be considered newsworthy:

Quote:
Zenith Bank becomes highest priced bank stock:
The Punch: http://www.punchng.com/Articl.aspx?t...00704120384231
Quote:
FCMB returns 177% gain to investors in three months:
The Punch:http://www.punchng.com/Articl.aspx?t...00704120184956
Quote:
Diamond Bank shareholders endorse capital injection by Actis:
The Punch:http://www.punchng.com/Articl.aspx?t...00704120174120
Quote:
Telecoms drives 5.63 per cent GDP growth – NEIC:
The Punch:http://www.punchng.com/Articl.aspx?t...t2007041201510
Quote:
Transcorp sends Longe on compulsory leave:
The Punch:http://www.punchng.com/Articl.aspx?t...00704120245562

Something to deflect attention from their share price/IPO???

The Sun:


Quote:
AP repackages lubricants, as winners emerge in sales promo
By LOUIS IBA
Thursday, April 12, 2007


African Petroleum Plc has announced plans to introduce its various lubricant brands in 1-litre, and 5-litre when its 50,000 metric tons per annum capacity lubricating oil blending plant comes on stream.

Read Story:http://www.sunnewsonline.com/webpage...4-2007-001.htm
Quote:
Oceanic Bank plans offshore branches, targets nine countries
By SEUN ADESIDA
Wednesday, April 11, 2007


In line with its vision of being a global financial institution with special emphasis on service delivery, Oceanic Bank International has concluded plans to embark on international strategic branch expansion. Among countries being currently†targetted by the bank include: Ghana, Sao Tome& Principle, Gambia, Liberia, Dubai, Ireland, USA, China among others.

http://www.sunnewsonline.com/webpage...4-2007-003.htm
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Old 12th April 2007, 10:04 PM
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Default Investors Interested In Vono

Anyone interested in Vono?

Quote:
BusinessDay
April 11th, 2007
Investors express interest in Vono


With the bouncing back of Vono Products plc into the Nigerian market, investors who are hitherto not shareholders of the company are eager to buy into the company.
MADUKA NWEKE

Most of the people who are in rush to buy into the company say they have seen the performance of the company and would be happy to be part of the success.

According to David Obodoeze, the managing director of Davidson Ideals Limited, "I expect Vono Product plc to float a public offer to enable some Nigerians buy into the company."

http://www.businessdayonline.com/?c=56&a=12589
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Old 12th April 2007, 10:44 PM
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Default Stock Market Analysis

Culled from BusinessDay: This is a selection of stock analysis for the week:

Quote:
Intercontinental bank plc

• Third quarter result of N10.125-billion PAT, against N5.9-billion in 2005
• Good quarterly results: High prospect for capital appreciation.
• Financial year end results due any time soon.
• Market whispers of possible bonus: likely to impact positively on price.
• Investment of five foreign Investors. will impact positively on price.
• Sound capital base.
• Sound fundamentals.
• Brand name.
• Recommendations: long and short term investing.
Quote:
Zenith Bank plc

• 2nd quarter result of N8.4-billion PAT, against N5.15-billion in 2005
• Results indicate high prospect of capital appreciation.
• Market whispers of possible bonus: likely to impact positively on price.
• Sound capital base.
• Sound fundamentals
• Brand name
• Recommendations: long and short term investing.

Quote:
Diamond Bank plc

• 3rd quarter result of N4.63-billion PAT as against N2.52-billion in 2005
• Quarterly results should translate to reasonable capital appreciation.
• Foreign Investment into bank expected to impact positively on price.
• Equity investment of foreign investors will impact positively on stock’s price
• Sound capital base.
• Sound fundamentals.
• Brand name.
• Recommendations: long and short term investing.
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Old 13th April 2007, 03:33 AM
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Thumbs up Dangote And Banks Lift NSE Capitalisation To N6trn

BusinessDay
Friday 13 April
Blessing Anaro & Nse Apan


The market capitalisation of all stocks quoted on the NSE rose 41.48 percent to N6 trillion at the end of the first quater of the year, up from N4.23 trillion at close of business 2006.

Bullet points:

• Analysts attribute increase largely to the listing of Dangote Sugar Refinery (DSR), growth of banks and successful conclusion of consolidation exercise of Insurance sector.

• DSR stock dwarfed the banking sector, which previously has been the prime growth mover.
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Old 16th April 2007, 11:16 AM
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Thumbs up $165 Foreign Equity In Zenith!

Zenith has done it again!

Quote:
ThisDay
Foreign Equity Investment in Zenith Bank Total $165m
By Nosike Ogbuenyi, 04.16.2007



Some world class foreign investment firms including Emerging Markets Investors U.S.A have invested the sum of $165 million in Zenith Bank Plc, reliable sources have revealed.

These institutions, the sources said, have had long-standing interest in Zenith Bank. This is believed to be an expression of the highest level of optimism on the bank’s future both in the short and long term as well as a confirmation of the bank’s position as an attractive investment option in Nigeria post-consolidation.

The decision by these reputable investing institutions is seen in certain quarters as an eloquent demonstration of confidence in the time-tested management of Zenith bank, its leading quest for innovation in service and technology as well as its professional human capital endowment, which has resulted in strong customer satisfaction and enhanced shareholders wealth.

http://www.thisdayonline.com/nview.php?id=75653
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Old 16th April 2007, 11:57 AM
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Thumbs up Nigerian Bonds Attract $1bn From Foreign Investors.

Show of confidence in Nigerian bonds.

Quote:
The Punch
Nigerian bonds attract $1bn from foreign investors
By Atser Godwin with agency report
Published: Monday, 16 Apr 2007


Nigerian bonds attracted about $1bn from foreign investors in the first six months of 2006. The figure is more than five times the total reached for the whole of 2005, the International Monetary Fund has said.

Foreign investors held 18 per cent of Nigerian government bonds at the end of 2005, the latest data available, the Washington-based lender said in its sub-Saharan Africa Regional Economic Outlook report posted on its website on Saturday.

Nigeria, Africa’s biggest oil producer, has used a windfall from rising oil prices to slash its external debt to $3.4bn from $35bn in 2005. That has boosted the appeal of Nigerian bonds at the same time that foreign investors search for higher- yielding investments.

http://www.punchontheweb.com/Articl....00704162131968
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Old 16th April 2007, 12:12 PM
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Default A Holiday That Short-changes every upright Nigerian!

A Holiday That Short-changes every upright Nigerian!

Quote:
The Punch
Nigeria’s economy suffers losses in unplanned holidays
By Atser Godwin and Bosede Olusola-Obasa
Published: Monday, 16 Apr 2007

The Nigerian economy may have suffered losses running to several millions of naira due to the three-day holiday declared last week for the 2007 general elections, the President, Nigerian Economic Summit Group, Mr. Sam Ohuabunwa has said.

He said the increasing number of unplanned public holidays was having a negative impact on not only the private sector, but also on Gross Domestic Product.

“If you take estimate of last year’s GDP and divide if by the number of working days in that year, you would have an idea of how much the economy loses per holiday declared,” he said via a telephone interview on Sunday.

According to the American Central Intelligency Agency, Nigeria’s GDP in 2005 was estimated at $77.33bn, with 260 working days per year.

http://www.punchontheweb.com/Articl....00704162161010
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Old 16th April 2007, 05:38 PM
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Default

These unplanned and unwarranted public holidays are a pain in the neck.
It seems as if these government agencies wake up any day they like and impose public holidays on the rest of us. Some mischievious friends of mine even insisted it was a ploy to extend Atiku's waiting period and deny him some precious days for his court cases, since the judiciary is also going to observe the holidays.

Trading activities were unduly denied for us stock investors, extending our wait for returns. I think Oceanic bank public offering will have to be extended to compensate them for the days lost while the offer was on hold. As well as many other people.
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  #9 (permalink)  
Old 17th April 2007, 01:37 PM
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Thumbs up 17bn Profit In three Quaters!

It seems investors are in line for some good dividends, come June when their full financial year is up.


Quote:
BusinessDay
April 16th, 2007
Zenith Bank rakes in N17bn profit in three quarters

Zenith Bank plc has recorded a profit after tax of N15 billion for its third quarter which ended March 31. This shows a growth of 69 percent relative to N8.86 billion recorded in the corresponding period of 2006.
Chinedu Dike


The unaudited result shows that pre-tax profit shot up by 59 per cent to N17.64 billion, from the previous year’s N11.08 billion. Gross earnings rose by 49 percent to N62.66 from the N42.12 billion achieved in the same period of the previous year.

The performance is an indication that investors in the bank are in for another year of good dividend harvest, in addition to significant capital appreciation.
http://www.businessdayonline.com/?c=45&a=12714
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Old 17th April 2007, 05:36 PM
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Default Unpatriotic Holiday???

Really C Kennths do you believe otherwise? Even after the sham of an election? There was no valid reason for this holiday!!! Just pure selfish gain of OBJ and his cohorts!

Quote:
Originally Posted by c kenneths View Post
These unplanned and unwarranted public holidays are a pain in the neck.
It seems as if these government agencies wake up any day they like and impose public holidays on the rest of us.
Quote:
Some mischievious friends of mine even insisted it was a ploy to extend Atiku's waiting period and deny him some precious days for his court cases, since the judiciary is also going to observe the holidays.
Trading activities were unduly denied for us stock investors, extending our wait for returns. I think Oceanic bank public offering will have to be extended to compensate them for the days lost while the offer was on hold. As well as many other people.
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Old 17th April 2007, 05:43 PM
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Thumbs down Failure Of Trade Alert!!!

It is official that Trade Alert does not work! Something else that needs to be got right. For something of this nature, before its launch it would have been appropriate to carry out a test run on a segment of the population to see if it work and hows it works in the real world.

Quote:
The Sun
Trade alert. Investors bemoan dearth of information flow
By AMECHI OGBONNA
Thursday, March 29, 2007


Barely two years after the launch of Trade Alert scheme by regulators of the capital market, Nigerian investors have expressed concern over its inability to achieve the purpose for which it was established in 2005.

The anxiety was coming against the backdrop of the inability of the Nigerian Stock Exchange to constantly furnish shareholders with information relating to transactions on their stocks.

The investors who spoke to Daily Sun recently, complained that despite the subscription fees paid to the Nigerian Stock Exchange, and assurances by the exchange that the subscribers would be kept abreast of activities in the market, especially as it relates to their investments, the situation on ground today suggests that the system has collapsed less than two years after its takeoff.

The agitated investors who warned they would demand a refund of their initial subscription fees paid for the scheme, said they be forced to confront the NSE and the Securities and Exchange Commission if the situation persists.

http://www.sunnewsonline.com/webpage...3-2007-002.htm
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Old 17th April 2007, 05:56 PM
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Default OTC Records N8.43bn Transactions

Transactions in Over-The-Counter (OTC) bond market down against last week's figures.


Quote:
Guardian
OTC records N8.43b transactions
Tuesday 17 April 2007
By Gbgenga Agbana


During last week's trading, the most active bond measured in volume terms was the fourth FGN Bond 2012 series II with a traded volume of 2.6 million units valued at N2.62 billion in three deals.

Meanwhile, Beta Glass Plc, Costain (West Africa) Plc, and Nigeria Wire Industries Plc, presented their full year results to the Stock Exchange last week, while United Bank for Africa Plc and Ellah Lakes Plc, presented their interim results.

By the results, the after tax profit of Beta Glass Plc stood at N381.1 million for the year ended December 31, 2006, compared with N218.65 million in 2005, on a turnover which rose from N4.82 billion to N5.3 billion.

The directors have recommended a dividend of 15 kobo per share with April 30 2007 as closure of register, while payment date is June 15, 2007.


The year ended March 31, 2006 was not good for Costain (West Africa) Plc, as it recorded a loss after tax of N1.5 billion, compared with N280.75 million in 2005, though the company did not incur any tax liability. Turnover also fell from N2.22 billion in 2005 to N1.11 billion.

Nigeria Wire Industries Plc also recorded a loss after tax of N9.51 million in the year ended December 31, 2005, down from N39.9 million in 2004, on a turnover which rose from N191.55 million to N272.7 million.


The profit after tax of Ellah Lakes Plc for the half year ended April 30 2006, stood at N2.04 million, over N900,000 in 2005 on a turnover which rose from N41 million to N6.1 million.

http://www.guardiannewsngr.com/capital_market/article01
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Old 17th April 2007, 06:04 PM
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Thumbs up Costain’s share price grows by 406 %

Something for investors to smile about!

Quote:
The Punch
Costain’s share price grows by 406 %
By Agency Reporter
Published: Tuesday, 17 Apr 2007


Shares of Costain West Africa Plc trading on the Nigerian Stock Exchange have appreciated in price by 406 per cent in the last few months.

The company’s shares, which were traded at N1.70 per share earlier in the year, are now worth N7.60 each.

Speaking to newsmen in his office in Lagos, the Managing Director, Costain, Mr. Phillip Wharton, attributed the growth to the confidence of the market in the ongoing reorganisation of the company.

Two months ago, Shoreline Energy International bought the controlling shares in Costain . The company is being restructured with the aim of recapturing its position as the leading infrastructure provider in West Africa.

Wharton said the company had, for the first time in six years, returned to profitability and that the prospects for further growth were excellent.

http://www.punchontheweb.com/Articl....00704171421315
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Old 17th April 2007, 06:11 PM
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Thumbs up Dividends & Bonus Shares Galore: GTB & NAHCO

Welcome news for investors!

Quote:
The Punch
GTBank, NAHCO declare dividends, bonus shares
By Goddy Egene
Published: Tuesday, 17 Apr 2007

Guaranty Trust Bank Plc and the Nigerian Aviation Handling Company on Monday put smiles on the faces of their investors with the declaration of cash dividend and bonus shares.

GTBank announced a final dividend of 50kobo and bonus of one new share for every four shares already held in its audited accounts for the year ended February 28, 2007, while NAHCO declared a dividend of 30kobo and bonus of three-for-two for the year ended December 31, 2006.

GTBank had similarly given a bonus and dividend last year. An analysis of the results on Monday showed that the bank posted gross earnings of N49bn in 2007, up from the N33.6bn recorded in 2006. Profit before tax rose from N10.5bn in 2006 to N15bn in 2007, while net profit grew by 54 per cent from N8.5bn to N13bn in 2007.

Investors willing to benefit from the dividend and bonus would have to buy the shares before the closure of the bank’s register slated for May 2, 2007. The payment date has been fixed for May 24, 2007.

On the other hand, NAHCO, which was listed on the Nigerian Stock Exchange in November 2006, recorded a turnover of N3.24bn for the year ended December 31, 2006, up from N3.05bn posted in 2005.

http://www.punchontheweb.com/Articl....20070417174089
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Old 17th April 2007, 06:54 PM
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Default

if I buy NAHCO and GTB now will I be able to get this dividend and bonus?
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Old 17th April 2007, 07:45 PM
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Default Closure Dates

GTB Closure date: 2 May

NAHCO Closure date: 16 May

@ Babatunde Akinyemi - Anyone who buys these shares before their closure date is entitled to both dividend and bonus pay outs.
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Old 17th April 2007, 07:48 PM
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Default Euro Hits Record High Against Yen

For the those interested in FOREX.

Quote:
The Punch
Euro hits record against yen as sterling nears $2.0
By Agency Reporter
Published: Tuesday, 17 Apr 2007


The euro jumped to a fresh all-time high point against the yen on Monday after Group of Seven finance chiefs avoided specific mention of the sliding Japanese currency after a weekend meet, dealers said.

The euro climed to a record 162.43 yen in Asian trade and the price of gold rose sharply.

In European deals, the euro stood at $1.3553, compared with 1.3532 dollars late on Friday in New York.

The dollar rose to 119.52 yen, from 119.22 yen on Friday.

Sterling meanwhile climbed to $1.9940 — the highest level since September 1992.

“The euro has derived support against the yen from the communique following the Group of Seven meeting last Friday in Washington,” said Paul Chertkow, head of currency research at The Bank of Tokyo-Mitsubishi in London.

“The appreciation of the euro against the yen buoyed the dollar against the yen,” he added.

http://www.punchontheweb.com/Articl....00704171525079
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Old 18th April 2007, 01:16 PM
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Default Nigeria ranks low on Africa’s wealth creation ladder!

We already know what they are just discovering! Nigerians are and have been living/seeing this reality for too many years!

Quote:
BusinessDay
April 17th, 2007
Nigeria ranks low on Africa’s wealth creation ladder


Nigeria’s dream of ranking among the world’s 20 topmost countries by the year 2020 may remain a dream except brisk steps are taken and razor-sharp policies implemented to radically improve its wealth creation capacity.
MARTINS AZUWIKE

This view derives from a presentation on Nigerian Financial Services Industry (FSS 2020) from the perspective of Global Macroeconomic Direction by Bismarck Rewane, managing director of Financial Derivatives Limited.

According to statistics on Wealth in Africa, which he credited to the World Bank’s publication- Where is the Wealth of Nations? Measuring Capital for the 21st Century, Nigeria could only muster a wealth per head figure of $2,784 (N356, 352) against the bouncy $60,000 (N7.7-million) posted by Mauritius, South Africa’s $59, 629 (N7.6-million) and Gabon’s $43,168 (N5.5-million).

http://www.businessdayonline.com/?c=45&a=12726
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Old 18th April 2007, 06:02 PM
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Default UK Pound Crosses $2 mark!

Someone will make a lot of money from all this!
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The Punch
Inflation: UK pound crosses $2 mark
By Ayo Olesin with agency report
Published: Wednesday, 18 Apr 2007


British consumer price inflation in March, hit its highest level since comparable records began, sending the pound sterling through the two-dollar barrier for the first time in nearly 15 years.

The Governor of Bank of England, Mr. Mervyn King, has already written a mandatory letter of explanation to the Chancellor of the Exchequer, Mr. Gordon Brown, in which he blamed increased consumer spending for the situation.

The pound exchanged for $2.0064 on Tuesday according to Bloomberg figures

The last time the two-dollar level was breached was just before sterling was forced to drop out of the European Exchange Rate Mechanism on September 16, 1992, after billionaire financial speculator, George Soros, unloaded $10bn worth of pounds on the currencies market and made a $1.1bn profit in a shock attack on the pound.

http://www.punchontheweb.com/Articl....20070418153317
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Old 18th April 2007, 06:55 PM
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Default Index rises further amid low trading volume

Food for thought!

Quote:
The Punch
Index rises further amid low trading volume
By Goddy Egene
Published: Wednesday, 18 Apr 2007


The Nigerian Stock Exchange All-Share Index inched up by 0.4 per cent to close higher at 46,340.85 despite a decrease of 32 per cent in volume of shares traded at the market on Tuesday.

Investors had traded 992.8million shares valued at N12.55bn in 10,107 deals on Monday. However, the volume of shares exchanged on Tuesday stood at N699.9million units worth N8.553bn in 10,165 deals, while the market capitalisation appreciated by N24bn to close at N6.649tn.

According to market operators, the index and capitalisation are being propelled by price gains by some highly capitalised companies, firms that announced impressive returns on investments recently and expectations that more improved results would be declared.

In all, 58 stocks added value led by Mobil Oil Nigeria Plc with N7 to close at N177 per share. Guinness Nigeria Plc followed with a gain of N6.20 to close at N130.20, while Chevron Oil Nigeria Plc and Benue Cement Company Plc chalked up N2.50.

Dangote Sugar Refinery Plc, which announced an interim dividend of 40kobo on Tuesday, garnered N2.45 to hit N51.59 per share.

http://www.punchontheweb.com/Articl....00704181595868
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