Archive for October, 2010

In the past week, a number of banks have released their results. Their statements, press releases and analyses of their results are below.

I will be posting a chart with the summary of the results later.

Courtesy of FSDH, Lead Capital, and Afrinvest, here are the NSE statistics for the week ended Friday, October 22nd:

-  The market caved into bearish sentiments mid-week however a spike on Friday curbed the downward trend, as the NSE All-Share Index subsequently lost 39bps closing at 24,978.70.
-  Profit taking in the banking sector sent most mid-tier banks tumbling this week, Access Bank, FCMB, Stanbic IBTC and Skye Bank all shed points ranging from 0.2% to 8.0%, top-tier banks were not spared either, however, bullish sentiments on Friday had most of the top-tier banks recording varied gains; First Bank and GTBank inched up with gains of 2.9% and 3.4%respectively, while UBA and Zenith Bank both gained marginal points. The rally on Oceanic Bank remained strong all week resulting in a 25.5% gain. Sentiments in the market indicate that the rally could continue into mid-next week before profit taking starts.
-  The food and beverages sector went to the bears this week. Profit taking trimmed off less than 1.0% from Dangote Flour while Dangote Sugar shed 1.2%, Cadbury also lost 12.1%. On the flip side Honeywell Flour and 7up bagged gains of 7.5% and 5.0% respectively.
-  In the same vein bearish sentiments trimmed off 1.4% an 2.8% from International Breweries and Guinness this week, while NB lost marginal points.

Below is the Monthly Economic News and Views presentation given by B.J Belgore for October 2010. As usual, it is a very very detailed and informative presentation. You will do well to read the entire thing.

LBS Executive Breakfast Session - October 2010 (522)

CBN Publications

In: CBN|Economy

20 Oct 2010

Courtesy of Lead Capital, IBTC, FSDH, and Afrinvest, here are the stats and reports for the week ended October 15th 2010:

I must confess, this is a very late post. Courtesy of IBTC and FSDH, here are the NSE stats for last week, the week ended October 8th 2010:


Courtesy of IBTC and FSDH Securities, here are the NSE Stats for the week ended September 30th 2010 (October 1 was the Independence day and NSE was closed).


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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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