₦airaland Forum

prev looking fward to Access , zenith , GTbank Interim play.
don't expect a strong rally, I'm now looking fwd to Aug 17 T-bill auction (91day esp)
July inflation likely to be ard 17%++

#stormyTimes

Early losers

MOBIL -5.00%
TRANSCORP -2.42%
TOTAL -2.13%
NB -1.85%

watch
ASI 27,330.56 -0.24%

#oversold territory

early gainers

AFRIPRUD +4.14%
SKYEBANK +1.47%
FBNH +0.91%
ZENITHBANK +0.31%

#weak

will d index find support at 27,000 ?
critical support level to be tested !

InvestmentOne platform is VERY VERY slow

Index back below 200 DMA

Godisfaithful:
I will choose UBA and FCMB sir. That's my personal opinion.

Access and FCMB in dat order IMO

Only 4 banks trading above 50DMA

#don't swin against d trend

feelamong:
"The market does not beat them. They beat themselves, because though they have brains they cannot sit tight." Jesse Livermore

chai ''sit tight''

godlyguy:
FCMB heading to @#0.80 any moment soon... If you are still holding unto AIICO, wish you all the best of luck because your cash will soon be trapped!

THE BIG SMART GUY

cheaper can be cheaper for longer than most expect !

Agbalowomeri:
Madam, gold like any other commodity has it cycle. Currently, I think gold is in a bear market/coming out of a bear market. Maybe ur observation is related to naira depreciation

nop
its been on a strong bull rally from Jan to date !

https://www.fitchratings.com/site/pr/1009704

Nigeria's banks are likely to face more challenges as interest rates continue to rise, says Fitch Ratings. The central bank's benchmark interest rates, which hovered around 6% from 2001 to 2011, have risen steeply. The latest increase came on 26 July, bringing rates up to 14% in a move to curb inflation and strengthen the naira.

Rising rates are likely to put additional pressure on banks' asset quality. Almost all lending is extended at floating rates and banks should be able to reprice their loans quite quickly but borrowers will face more difficulties in servicing their debts. Impaired loans are already high in the Nigerian banking sector, where average non-performing loan ratios reached 6.2% at end-March 2016, partly reflecting the impact of currency depreciation on businesses as well as higher oil-related problem loans at some banks.

We also expect loan growth (excluding foreign-exchange translation effects) to slow during 2H16 and into 2017. Banks have already tightened underwriting standards as economic conditions in the country worsen. GDP contracted by 0.4% year on year in 1Q16 and we forecast GDP growth to fall to 1.5% in 2016 (2015: growth of 2.7%).

With rising rates, excess liquidity in the banking sector is, in our opinion, likely to flow into additional holdings of higher-yielding government debt. Government securities represent about 16% of total Nigerian banking sector assets and 10-year senior bonds yield about 15.3%. Despite the rate rise, real interest rates remain negative when considering inflation, which reached 16.5% in June 2016. Nevertheless, for the domestic banks government bonds represent low-risk, low capital intensive investments. Lending, particularly in foreign currency, carries higher risks.

The rate increase will also lead to higher funding costs for the banks. This and the switch away from loans and into fixed-income government bonds are likely to squeeze Nigerian bank net interest margins. We also expect operating costs and loan impairment charges to rise but still expect Nigerian banks to remain profitable in 2016.

We downgraded Nigeria's sovereign rating to 'B+' in June and various bank ratings were downgraded in July. The challenging and volatile operating environment in Nigeria, as well as such factors as the banks' financial profiles, mean Nigerian bank standalone Viability Ratings (VR) are in the highly speculative 'b' category. Nigerian bank VRs are sensitive to a prolonged economic downturn and depressed oil prices, and to materially weaker asset quality.

#OnTheNews
DMO plans to raise N245.18 bln in TBills.

Indicative rates:
16% for 3-month,
18%r 6-months
18.5% for 1-year bills

link
http://af.reuters.com/article/nigeriaNews/idAFL8N1AJ41I

no ucap offers !

PalmOil is smiling

feelamong:
Is this Loss of N8B that am seeing or what??

No

the big daddy of FX gains is GTbank.

Intendy:
http://nse.com.ng/Financial_NewsDocs/14483_FCMB_Q2_JUNE_2016_FINANCIAL_STATEMENTS_JULY_2016.pdf

FCMB on full bid !

mercylicious:
No wonder this one reversed.

seems there are 2 types of late filing
1) d profit warning type 2) d board approval seeking interim payout (only 3 will pay, d fourth is yet to file late)

feelamong:
Personally, I think you have jumped out of Access a little too early...anyway better to chop small than to chop none

I expect Access H1 to be good enough to move it to 6.20

#MonkeyHunting

at al at all
we remain in d boat
MACD just crossing over signal line
sitting tight

sterlnbank bottoming out ! Pulll back slow down
vol up . .

mercylicious:
Yes oo.
Am already in fbn, zenith and access.

same here, tilted more towards Access.
They shud have a very decent Q2 growth with all the fx gains & cowboy restructurings

locodemy:
Base on 52 weeks low,sterling bank worths considerate........maybe tomorrow might be good for new entry.

yeah, at a 3 year low !
well oversold

Interest rate adjusted upwards. Now 14%

Watch CNBC on Channel 410 to catch MPC outcome

DeRuggedProf:
current price?

N2.50
bids > offers

ihedioramma:

UCAP
UCAP
UCAP


#stubborn bargain & value hunters

feelamong:
FBN....

It's Forex gain to the rescue!!

This impairment charge na die sha!!!

But it's looking good for the Elephant! But I don't see this leading to any major bull...

I may be wrong sha!

Wait till u see GTB forex gain ! #mental

Mfunkynation:
Oga, Fxuser! Hw far

present

NB about to lift off
pull back over