News Highlights

[Stockbear]

Just a mix of what might be considered newsworthy:

Zenith Bank becomes highest priced bank stock:
The Punch: http://www.punchng.com/Articl.aspx?t...00704120384231

FCMB returns 177% gain to investors in three months:
The Punch:http://www.punchng.com/Articl.aspx?t...00704120184956

Diamond Bank shareholders endorse capital injection by Actis:
The Punch:http://www.punchng.com/Articl.aspx?t...00704120174120

Telecoms drives 5.63 per cent GDP growth – NEIC:
The Punch:http://www.punchng.com/Articl.aspx?t...t2007041201510

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:

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

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

[Stockbear]

Anyone interested in Vono?

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

[Stockbear]

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

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.

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.

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.

[Stockbear]

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.

[Stockbear]

Zenith has done it again!

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

[Stockbear]

Show of confidence in Nigerian bonds.

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

[Stockbear]

A Holiday That Short-changes every upright Nigerian!

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

[c kenneths]

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.

[Stockbear]

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

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

[Stockbear]

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!

Originally Posted by c kenneths

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.

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.

[Stockbear]

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.

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

[Stockbear]

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

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

[Stockbear]

Something for investors to smile about!

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

[Stockbear]

Welcome news for investors!

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

[babatunde akinyemi]

if I buy NAHCO and GTB now will I be able to get this dividend and bonus?