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PEOPLES DAILY, MONDAY, APRIL 23, 2012
L-R: Accountant General of the Federation, Mr. Ogunniyi Otunla, Minister of State for Finance, Dr. Yerima Ngama, and General Manager, Finance, NNPC, Mrs Amoge Jipreze, during the federation account allocation committee meeting, on Friday in Abuja . Photo: Mahmud Isa
INVESTORS NEWS BEAT
Nigerian Stock Exchange wants oil majors to list
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oreign oil majors such as Royal Dutch Shell, Exxon Mobil Corp and Chevron Corp should have secondary share listings in Nigeria and planned new energy laws could push them to agree, the stock exchange regulator said.
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igeria’s equity market resumed uptrend as bargain activities significantly outweighed sell pressure with market activities closing green in the week as against negative outlook recorded in the previous session while the Exchange marked 72 listed entities for sanction following the non rendition of their audited financial accounts statements for various reporting periods in its compliance report released during the week. Furthermore, the key benchmark indices closed negative by -0.10% to open the first trading day of the week downbeat as the bears return in style while the second closed green by +0.32% to resume uptrend while bargain hunters dominated trading activities after the day’s session. The third session also closed positive as the Nigerian Stock Exchange (NSE) All-Share
Bargain hunting returns to bourse as ASI records +4.89% gain in the week Index (ASI) firms up by +1.47% to maintain northwards movement due to continuous bargain activities while similar outlook was also recorded on Thursday with NSE Index recording +0.34% gain to close the fourth session northwards. Conversely, trading activities on Friday closed in the green zone as sentiments remained unchanged. Consequently, the key benchmark indices inches up significantly by +1.72% while market closed the week with aggregate gain of +4.89%. Further analysis on acquiring banks since transaction date showed that the share price of Access Bank Plc has recorded 21.01% gain, followed by FCMB with
PIC to invest $250mn in Ecobank’s equity
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he Public Investment Corporation (PIC), on Friday said it planned to invest $250 million (N37.5 billion) in the common equity of Ecobank Transnational Incorporated, the parent company of the Ecobank Group. The corporation said in a statement that the investment would be on behalf of Government
Employees Pension Fund (GEPF). It also said that the investment would represent PIC’s first major direct investment outside South Africa. The statement said that the development was in line with GEPF’s investment strategy that had identified Africa, excluding South Africa as the next frontier for investment growth.
41.28% gain while Union Bank Plc leads the chart with 79.43% gain. However, Sterling Bank recorded -5.51% loss while ETI closed positive with +1.71% gain recorded. See the tracking table below However, the All-Share Index in the week under review moved up by +4.89% to close at 21,756.50 as against a decline by -0.95% recorded last week to close at 20,743.16. In the same vein, the market capitalisation in the week appreciated by N322.96 billion (US$2.15 billion) to close at N6.93 trillion (US$46.24billion) as against
depreciation by N26.20 billion (US$174.67 million) recorded last week to close at N6.61 trillion (US$ 44.08billion). The total volume traded in the week closed at 2.04 billion units valued at N15.73billion (US$104.87 million) compared with 1.60 billion units valued at N9.26 billion (US$61.76 million) exchanged in 15,156 deals last week. The volume transaction in the week when compared with the previous week data moved down by +27.81% as against upwards movement by +38.80% recorded last week.
Believability index shows FCMB likely to deliver 51% of Q2 PAT forecasts
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irst City Monument Bank Plc (Plc) presented its Q2 earnings forecast for the period ended June 30th 2012 to the market on Friday. Proshare has reviewed the forecast against its believability index, relying on previous performances against forecast; to confirm the following: That FCMB has a -51% chance of achieving or exceeding its PAT forecast and a 138%
chance of delivering on its Gross Premium projections for the period in view. The significant loss of N9.9billion declared against N2.9billion forecast in Q4’11 had negative impact on this believability index considerably. This weights fall within the ‘most believable’ forecast range for quoted companies in the sector.
IGI posts N10.5bn Gross Premium Income in 2010
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he Chairman, Industrial and General Insurance (IGI) Plc, Gen. Yakubu Gowon (rtd), announced on Friday in Lagos at the that the company recorded N10.5 billion gross premium in 2010 financial year, which ended Dec. 31.
New NASDAQ platform, trading band expansion to boost liquidity
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he Nigerian Stock Exchange (NSE) will next week sign an agreement which will see it adopting the NASDAQ trading platform and relaxed restrictions on intraday price swings on stocks from 5 percent to 10 percent.
First Bank plans $500mn bond later in year
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igeria’s First Bank has appointed Goldman Sachs and Citi Bank to manage the sale of a $500 million Eurobond planned for later in the year, its chief financial officer told Reuters on Wednesday.
Unilever’s Q1 2012 earnings up 8%
U Source:Pro-share Nigeria
nilever, one of Nigeria’s leading conglomerates and manufacturer’s of Fast Moving Consumer Goods (FMCG) has released its Q1, 2012 earnings. The company recorded a 7.92% increase in Earnings at N 14 billion at the end of March from N 13 billion the same period last year.