Archive for May, 2009

Here are the weekly market reports from the stockbrokers, FSDH and Forte Assets:

Forte Weekly Market Review May 22, 2009 (663) FSDH - Weekly Report - May 22 2009 (703)

FSDH’s Analysis of UBA’s Q2 result is here:

UBA-Q2- 2009 (854)

NSE Report for the week ended May 22nd, 2009

NSE Weekly Report For Week Ended May 8th 2009

Here are the recently released company results:

Here is the stock market report for the week ended May 8th 2009

Below are the average banks’ interest rates for the month of April. The average rate for the was 12.1%. UBA, Standard Chartered, Citi Bank, and Zenith had the lowest rates.

Prof. Soludo, the CBN Chief in a conference today, said some very important things:

  • Nigeria cannot afford to bail out any bank in the event of failure
  • Banks have over $5billion (N784billion) in bad loans on book
  • No plan for a US-styled stimulus

Here is the market report for the week ended May 1st, 2009:

Nigerian equities traded mixed on the stock exchange for the week with the bears and bulls evenly matched. The market benchmark opened the week on a poor note dropping .02% to
halt its run of gains from last week. In subsequent sessions, the index closed on Tuesday .05% higher, shed .50% on Wednesday and closed the week’s session with a .65% appreciation. Despite the losses, the NSE all share index managed to close the week higher 35.19 points, a gain of .16% to close at 21,491.11. This performance brings Year to date performance
to 31.67%.

Blue chip stocks were the major movers with the likes of NESTLE, GURANTY and UBA leading the way. Also, volumes were up from the previous week by 18.76% with an average of 390 million shares exchanging hands each day compared to 262 million the previous week. On the transaction side, total shares traded were worth N11.5 billion against N8.37 billion in the previous week. Volatility and Liquidity measures show an improvement in the level of confidence in the market as investors continue to show cautious optimism.

If you missed out on a great post from last month, here’s a quick digest of the top posts that you may want to check out: Access Bank and First Bank To Adopt IFRS Posted on Wednesday, April 8th, 2009 in business – Comments: (0) Reuters news is reporting that Access Bank and First Bank […]

About this blog

This blog is dedicated to informing users on the latest business and economic news news from the CBN and Nigerian Stock Exchange. Happy reading!


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