Ha-ha....No Smiling Teeth Yet Today.

The market is giving people another opportunity to take position, ahead of the release of ministerial list.
Bear period is the best time to buy, buy and buy

What price is Uba?

mercylicious:
What price is Uba?

UBA currently at 4,04

Ronkuns:
http://www.thisdaylive.com/articles/shareholders-approve-flour-mills-subsidiaries-merger-with-holdco/220371/

Shareholders Approve Flour Mills’ Subsidiaries Merger with HoldCo

"As a result, the company sought and obtained shareholders’ approval to raise its authorised share capital from its current N2 billion to N2.5billion and to thereafter, subject to regulatory approvals, issue additional shares by way of rights to existing shareholders on the basis of five new ordinary shares for every 12 ordinary shares held at N27.50 per share[i][/i]"

How realistic is the pricing of the rights, considering that the shares currently trade at about N23? Does this indicate that a bull run is imminent on FMN stock to drive the price above N27.50? Otherwise, the rights issue may not be taken up.

Don’t be too sure.
Move with caution.
Be mindful there has been recent NSE tradition with rights offers, in which the "market masquerade" tend to pull stock prices below the announced rights prices. If my memory did not fail me Oando, Access, and I think Diamond bank are recent instances.

Manonamission:
Market should peak today. If that happens, bears will have tomorrow.

#Markettiming

So market peaked on Monday instead. Market can not be timed Will watch till Thursday/Friday before taking my next decision. Better to jump in at the onset of a bull ride. If I miss it, I'll wait till the next cycle. I would rather sit on my cash than lose it. Lesson learnt after recovery.

Excellent7:



Don’t be too sure.
Move with caution.
Be mindful there has been recent NSE tradition with rights offers, in which the "market masquerade" tend to pull stock prices below the announced rights prices. If my memory did not fail me Oando, Access, and I think Diamond bank are recent instances.

Why then should one take up the rights since I could use same money to get the stock at cheaper prices? Just wondering anyway.

My dea

Manonamission:

So market peaked on Monday instead. Market can not be timed Will watch till Thursday/Friday before taking my next decision. Better to jump in at the onset of a bull ride. If I miss it, I'll wait till the next cycle. I would rather sit on my cash than lose it. Lesson learnt after recovery.

Manonamission:

So market peaked on Monday instead. Market can not be timed Will watch till Thursday/Friday before taking my next decision. Better to jump in at the onset of a bull ride. If I miss it, I'll wait till the next cycle. I would rather sit on my cash than lose it. Lesson learnt after recovery.

Hahaha. Na so I see my 11% return to 4%
At all at all na him worse pass.

I should have exit yesterday but I was so busy to observe the market. I placed a sell order trap but the price did not fall through by eod.

Better luck next time.

On another note- this TSA issue may affect the price of banking stock heavily. Fbn and zenith will be most affected by the policy. It is no longer business as usual. All fg institutions and parastatals ncluding nta, fed govt sec schools and major institutions including nnpc, customs, immigration were moved to CBN account yesterday.

Before now I know banks provide for 75% but now, even the 25% banks enjoy is no more. They are now paid processing fee which is n5 naira per 1000 naira collected . this is still attractive but cannot be compared to the float income the collecting banks have been enjoying- weekly and monthly.
State institutions likewise have started consolidating their accounts. In my very eyes, a state govt arm moved all their money from many banks to one bank (not CBN yet).

Heads will roll . time for plan b,c,d .....if you earn your pay from DMBs .

Chai There's God o

mercylicious:
My dea

Hahaha. Na so I see my 11% return to 4%
At all at all na him worse pass.

I should have exit yesterday but I was so busy to observe the market. I placed a sell order trap but the price did not fall through by eod.

Better luck next time.

On another note- this TSA issue may affect the price of banking stock heavily. Fbn and zenith will be most affected by the policy. It is no longer business as usual. All fg institutions and parastatals ncluding nta, fed govt sec schools and major institutions including nnpc, customs, immigration were moved to CBN account yesterday.

Before now I know banks provide for 75% but now, even the 25% banks enjoy is no more. They are now paid processing fee which is n5 naira per 1000 naira collected . this is still attractive but cannot be compared to the float income the collecting banks have been enjoying- weekly and monthly.
State institutions likewise have started consolidating their accounts. In my very eyes, a state govt arm moved all their money from many banks to one bank (not CBN yet).

Heads will roll . time for plan b,c,d .....if you earn your pay from DMBs .

It will have one week effect only before the bank will adapt.............The money in question is just $6.5Billion which is 10% of total money in banks..................Why the worry?.............

FannySwindler:
Ha-ha....No Smiling Teeth Yet Today.

..watching

mercylicious:
My dea

Hahaha. Na so I see my 11% return to 4%
At all at all na him worse pass.

I should have exit yesterday but I was so busy to observe the market. I placed a sell order trap but the price did not fall through by eod.

Better luck next time.

On another note- this TSA issue may affect the price of banking stock heavily. Fbn and zenith will be most affected by the policy. It is no longer business as usual. All fg institutions and parastatals ncluding nta, fed govt sec schools and major institutions including nnpc, customs, immigration were moved to CBN account yesterday.

Before now I know banks provide for 75% but now, even the 25% banks enjoy is no more. They are now paid processing fee which is n5 naira per 1000 naira collected . this is still attractive but cannot be compared to the float income the collecting banks have been enjoying- weekly and monthly.
State institutions likewise have started consolidating their accounts. In my very eyes, a state govt arm moved all their money from many banks to one bank (not CBN yet).

Heads will roll . time for plan b,c,d .....if you earn your pay from DMBs .

its not as bad as its being made to look....yesterday CBN sent a memo adjusting the CRR for private sector funds

trust our banks to get a lot more innovative and surely there will be loads of jobs losses...but better times ahead for the country as a whole!

CBN to refund CRR to ameliorate TSA outflow. TSA becomes neutral on banks. No more need for doom and gloom on this subject

feelamong:


its not as bad as its being made to look....yesterday CBN sent a memo adjusting the CRR for private sector funds

trust our banks to get a lot more innovative and surely there will be loads of jobs losses...but better times ahead for the country as a whole!

What is crr for private sector funds now?

CBN pledges financial system stability despite TSA...


http://businessdayonline.com/2015/09/cbn-pledges-financial-system-stability-despite-tsa/

mercylicious:
My dea

Hahaha. Na so I see my 11% return to 4%
At all at all na him worse pass.

I should have exit yesterday but I was so busy to observe the market. I placed a sell order trap but the price did not fall through by eod.

Better luck next time.

On another note- this TSA issue may affect the price of banking stock heavily. Fbn and zenith will be most affected by the policy. It is no longer business as usual. All fg institutions and parastatals ncluding nta, fed govt sec schools and major institutions including nnpc, customs, immigration were moved to CBN account yesterday.

Before now I know banks provide for 75% but now, even the 25% banks enjoy is no more. They are now paid processing fee which is n5 naira per 1000 naira collected . this is still attractive but cannot be compared to the float income the collecting banks have been enjoying- weekly and monthly.
State institutions likewise have started consolidating their accounts. In my very eyes, a state govt arm moved all their money from many banks to one bank (not CBN yet).

Heads will roll . time for plan b,c,d .....if you earn your pay from DMBs .

Thanks for this info.... I just offloaded my Zenith bank. I will keep FNBH cos I believe their large customer deposits will offset the immediate effect of TSA

Ronkuns:
http://www.thisdaylive.com/articles/shareholders-approve-flour-mills-subsidiaries-merger-with-holdco/220371/

Shareholders Approve Flour Mills’ Subsidiaries Merger with HoldCo

"As a result, the company sought and obtained shareholders’ approval to raise its authorised share capital from its current N2 billion to N2.5billion and to thereafter, subject to regulatory approvals, issue additional shares by way of rights to existing shareholders on the basis of five new ordinary shares for every 12 ordinary shares held at N27.50 per share[i][/i]"

How realistic is the pricing of the rights, considering that the shares currently trade at about N23? Does this indicate that a bull run is imminent on FMN stock to drive the price above N27.50? Otherwise, the rights issue may not be taken up.

No body will be able to predict the direction of the market expecially the price movement of Fmn. If you are interested you can acquire the stock at the current price and never take your right. No matter what is happening around this stock and believe and I know it overcome all the challenges.


I brought at 34 before it novedived but I have managed to average down. This is for long run.

http://www.bloomberg.com/news/articles/2015-09-16/nigerian-president-buhari-rules-out-further-devaluation-of-naira-iemoarjh


Baba has given Emefiele enough fire now!!

feelamong:

http://www.bloomberg.com/news/articles/2015-09-16/nigerian-president-buhari-rules-out-further-devaluation-of-naira-iemoarjh


Baba has given Emefiele enough fire now!!

Good news ..Lets see how far Emefiele can go

myjoy08 why you no go market today?.

UBA no wan gree come back to bus stop o. We keep waiting

ihedioramma:
myjoy08 why you no go market today?.

Sir, we are here

Agbalowomeri:
UBA no wan gree come back to bus stop o. We keep waiting

I hope you will not wait too long Dr. Agba friend. That stock ehnnn...we are waiting for the alerts as usual for the payment of our interim dividend

myjoy08:


Sir, we are here

i know you are here but why you no ji today now?

ihedioramma:
;Di know you are here but why you no ji today now?

Sir, the market is yet to close

mercylicious:


What is crr for private sector funds now?

According to @RenCap the CRR has to be reduced to 23% (from 31%) to neutralise the impact of the TSA

Agbalowomeri:
UBA no wan gree come back to bus stop o. We keep waiting

That will take sometime...........

angrybull:


No body will be able to predict the direction of the market expecially the price movement of Fmn. If you are interested you can acquire the stock at the current price and never take your right. No matter what is happening around this stock and believe and I know it overcome all the challenges.


I brought at 34 before it novedived but I have managed to average down. This is for long run.

I got my first batch @ N20:45 on 10th Sept a day after the WALL of JERICHO fell

PETERiCHY:


I got my first batch @ N20:45 on 10th Sept a day after the WALL of JERICHO fell

That's is perfect timing Bros . I believe this stock will create new millionaires in the long long

myjoy08:


Sir, the market is yet to close

and is close now, i did not see your hand why?

Bnsitl that guy above angrybull has no portfolio

Agbalowomeri:
Bnsitl that guy above angrybull has no portfolio

Lol,,,,the guy just look at the price list and pick the 52 week low price to boost his OcToPuS can pick the bottom

Peterichy, come defend yourself here. Is it a coincidence that you buy oando at a perfect support price and now you said you brought fmn at its perfect support price too.

Are you a magician or just fooling us?

Oga Peterichy do you actually have portfolio?