Archive for December, 2010

Courtesy of FSDH, Afrinvest, IBTC, and Lead Capital, here are the stats for the NSE for the week ended December 17th 2010:

<blockquote>+ The NSE All-Share Index closed flat this week.

+ Activities in the banking sub-sector were on the uptick this week, this translated to gains for GTBank, Zenith Bank and First Bank in excess of 3.0% apiece; however, the losers this week were made up mostly of low priced bank stocks, this was largely due to profit taking activities by the participants.

+ Thus, Intercontinental Bank led the losers chart in the sector with an11.0% decline, while Spring Bank, Fidelity Bank, Afribank and FinBank all shed above 6.0% apieceIn the breweries sector, Guinness recorded the lone gain of 1.8%, while NB shed 2.5% as International Breweries closed flat.

+ In the building materials sector; Dangote Cement and Lafarge Wapco shed marginal points, while Ashaka Cement and CCNN bagged above 8.0% each.

+ There was a lull in the food and beverages sector this week, however, the conversion announced by NBC inched up its price by 21.0%, while at the same time closing on robust bid.  UTC, however, led the losers’ list in the sector with a 12.0% drop in price. Other stocks traded sideways in the sector this week.</blockquote>

A few months back, KPMG + Aluko Oyebode &amp; Co. released a report of their investigation of the affairs of the NSE.The SEC had received reports alleging improprieties in the activities of the NSE management. As a result of this, an investigation was launched. You can read their full report below. But here is an excerpt of the summary section listing their findings:

Here is B.J. Rewane’s Year End Economic Outlook presented at the monthly Lagos Business School Executive Breakfast session for December 2010.

I encourage you to read it in full. It is loaded with information and statistics.

I know… I know… This is a week late.
Courtesy of Afrinvest, FSDH, IBTC, and Lead Capital, here are the stats for the NSE for the week ended December 10th, 2010:

+ The week under review was bearish, as the NSE All-Share Index lost 146 bps.
+ Despite the bearish activities experienced in the market throughout the week, the banking sub sector managed to record marginal appreciation, on the share prices of some stocks that traded actively during the week. The likes of Union Bank, Oceanic Bank, Ecobank and Intercontinental Bank recorded gains below 3.0%, while GTBank gained 6.3% to close the week. Top losers in the sector were Afribank, Finbank & Zenith Bank with losses of 12.2%, 12.1% and 7.5% respectively. Other losers included Ecobank, Skye Bank, Fidelity Bank, Diamond Bank and Unity Bank amongst others that lost between 1.0% and 6.4%.
+ In the breweries sector, Guinness recorded the lone gain of 1.8%, while NB shed 2.5% as International Breweries closed flat.
+ In the building materials sector, CCNN went southwards losing 3.9%, while Ashaka Cement lost 4.2%. Dangote Cement on the other hand recorded a marginal points gain.

Here are the analyses of the recently released quarterly results for Dangote Sugar, Mobil Oil, and Oando from FSDH:

Company Report - FSDH - Dangote Sugar Dec 2010 (1057).
Company Report - FSDH - Mobil Oil Plc -Q2, 2010 (458).
Company Report - FSDH - Oando - Q3 Sept 2010 Result (445)

As you know, the Monthly Economic Reports from CBN are usually a few months behind. The Economic Report for August 2010 was recently released. Here is the excerpt from the summary. You can also download the full report below: Growth in the key monetary aggregate accelerated in August 2010 relative to the level in the […]

Courtesy of Lead Capital, FSDH, Afrinvest, and IBTC, here is the NSE report for the week ended December 3rd 2010:

·         The NSE All-Share Index went up by 79 basis points, ending the week on a positive note despite the downward movement recorded in the index today.

·         The banking sub-sector traded mostly sideways this week, however, Access Bank led the gainers’ list by 5.0%. Other gainers include Ecobank, GTBank, Sterling Bank and Afribank with gains between 2.7% and 3.3%. Skye Bank, Zenith Bank and UBA also recorded gains between 0.9% and 1.4%. On the flip side, the rescued banks topped the losers’ list in the sector. Unity Bank, Wema Bank, Union Bank and FinBank shed between 5.0% and 9.0%, largely due to profit taking activities by participants.

·         The building materials sector experienced low trading activities throughout the week. It however picked up slightly on the last trading day. Ashaka Cement recorded an 8.8% uptick, followed closely by Dangote Cement with 2.0%. Lafarge Wapco also recorded a 1.2% gain. CCNN was however the lone loser in the sector, shedding 3.2% to close the week.

·         All the three stocks that traded in the breweries sector recorded varied gains this week; Guinness, NB and International Breweries gathered gains in excess of 4.0%.

And here are the charts for the week’s performance:

<a href=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_stats1.bmp”><img title=”nse_stats” src=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_stats1.bmp” alt=”” /></a>

<a href=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_stats_more.bmp”><img title=”nse_stats_more” src=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_stats_more.bmp” alt=”” width=”482″ height=”532″ /></a>

And here are the results:

<a href=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_results.bmp”><img title=”nse_results” src=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_results.bmp” alt=”” width=”490″ height=”442″ /></a>

And here are the reports from the stockbrokers:
NSE Weekly Report - Afrinvest - Dec 3rd 2010 (361).

NSE Weekly Report - Afrinvest - Dec 3rd 2010 - Weekly Update (375).

NSE Weekly Report - FSDH - Dec 3rd 2010 (436).

NSE Weekly Report - IBTC - Dec 3rd 2010 (410).

NSE Weekly Report - Lead Capital - Dec 3rd 2010 (362)

Here is the CBN Annual Report And Statement of Accounts For Year Ended Dec 31st 2009. It provides information on the corporate activities of the Central Bank and the monetary policy and surveillance activities and operations of the bank. The second part of the report includes reports on the global economy and the Nigerian economy with a particular emphasis on the financial sector.

CBN 2009 Annual Report (1153)

Stanbic IBTC are one of the top Mutual Fund Managers in Nigeria. Below are the reports on the performances of their different funds. Overall, their performances have been in line with the market.

Stanbic IBTC Bond Fund (“SIBOND”) – [Q3: 6.33%]
IBTC Bond Fund (SIBOND) Q3 2010 Report (390)
Stanbic IBTC Ethical Fund (“SITEF”) – [Q3:-12.93%; YTD: 6.12%]
IBTC Ethical Fund (SIEF) Q3 2010 Report (495)
Stanbic IBTC Guaranteed Investment Fund (“SIGIF”) – [Q3: -0.79%; YTD: 3.94%]
IBTC Guaranteed Investment Fund (SIGIF) Q3 2010 Report (424)
Stanbic IBTC Money Market Fund (“SIMM”)
IBTC Money Market (SIMM) Fund Q3 2010 Report (382)
Stanbic IBTC Nigerian Equity Fund (“SINEF”) – [Q3: -6.34%; YTD: 16.69%]
IBTC Nigerian Equity Fund (SINEF) Q3 2010 Report (595)

Here is the chart of the performance of their funds over time:

Courtesy of FSDH, Lead Capital, IBTC, and Afrinvest, here are the weekly NSE reports for the week ended Friday, November 26th 2010:

+ Most of the stocks of the rescued banks were bullish during today’s trading session, as participants continued to review their prices upward until they peaked at the maximum prices for the day. Oceanic Bank bagged maximum points, while other rescued banks gathered points in excess of 4.0% apiece. Zenith Bank and First Bank managed to record marginal points, while some stocks in the sector failed to delight participants; subsequently the likes of GTBank and UBA shed 1.1% and 1.3% respectively.

+ In the food and beverages sector, Dangote Sugar, Nascon, Nestle and Dangote Flour recorded gains ranging from 0.4% to 2.1%. Other stocks in the sector traded sideways.

+ The building and materials sector ended the week on a quiet note as participants were unwilling to review their prices upward. Ashaka Cement, despite the lull in the sector, recorded a 1.3% gain. Other stocks that traded in the sector remained unchanged.

Find below, a summary of the activities for the week ended today:

+ There was a lull in market activity this week, as the NSE All-Share Index shed 140bps cumulatively.

+ Profit taking shaved off varied points from the rescued banks’ stocks; Finbank, Intercontinental Bank, Wema Bank and Oceanic Bank all shed between 10.5% to 14.0%. However, the rescued bank stocks began rallying today and traded at the highest end of the market while closing with robust bids. GTBank and UBA also shed 2.8% and 6.4% respectively. On the flip side, Skye Bank, Ecobank, Spring Bank, Afribank and Fidelity Bank all gained points between 1.6% and 5.3%. No gains were recorded by the top tier banks this week.

+ Most stocks in the building materials sector traded sideways; however Lafarge Wapco gained 1.3%, while Ashaka Cement recorded a marginal loss.

+ In the breweries sector, all three traded stocks lost varied points; as institutional sales suppressed the share prices of NB, Guinness and International Breweries with losses of 1.2%, 9.6% and 13.6% respectively.


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