₦airaland Forum

Mpeace:
Don't mind that woman she keeps giving wrong infor. She did same last year and the Min of state Petroleum kachukwu had to come back with the right info. But the minister of state petroleum himself confirmed that it had risen to 2m and would get to 2.2 when forcados returns. http://leadership.ng/business/572269/nigerias-oil-production-rises-to-2mbp-kachikwu Mind you forcados returns in june.

The exact figure wasn't my main point seeing that you have changed from "less than 1.8m" to 2m yourself. The correlation between the steady rise and CBN's strategy was my point.
By the way, you can also read this and confirm that arguing on the exact figure is pointless.

http://punchng.com/well-increase-oil-production-for-domestic-use-kachikwu/

duni04:
I think that's the perception they're trying to create, that with production closing in on 2.2million barrels and price nearing USD60, they have the capacity to sustain the outrageous weekly intervention they started this week. But i think the CBN governor's real intention is to grow our reserves well enough to inspire confidence in FPI's and FDI's. Its like killing two birds with a stone. The difference between previous interventions and this one is that the speculators knew the CBN couldn't sustain the interventions in the past because of the low crude production and low prices. They always called the bluff of the CBN in the past. I'd love to see them try it this time. Except of course and like you alluded to, Godisfaithful plants a dynamite on a pipeline in the Nigerdelta and blasts it

Growing the external reserve and demonstrating the ability to meet forex demands are non-negotiable truly. However, let them lift (or ease) restrictions on card transactions before I applaud them. Na that one 'consign' me pass.

duni04:
I seriously do not hope and think the CBN will use the gains from the rise in oil price and production to continue pumping USD 600million into the Fx market every week. That would be very irresponsible.

If you asked me, they hope to do it long enough to convince investors they are now capable. You would recall CBN gov was always saying he should be given time that patience is needed. That was his response to the senate committee when he was invited. Now we got this new announcement. The game plan should be obvious. They actually think their strategy is yielding the desired results following the over subscription of that their .....shey na euro bond sef.

duni04:
The volumes say otherwise. I entered at N12.60 today thanks to obagadaffi's post earlier today.

Yeah, I alluded to that in my post.....buyers simply snapped up that supply. I just kept refreshing to see if the bad guy still got some left. Today's volume was remarkable indeed.

Willie2015:
CBN had sold over $600m this week alone thus ensuring liquidity in the forex market & narrowing the difference btwn the parallel mkt rate and official rate. The question still remain how long will the CBN continue to issue $600m on a weekly basis if demand side of the forex mkt remain constant or increase.

Y'all shouldn't look at this in isolation. Crude production hit about 2.2m this February and with sustained average crude price above $55 per barrel. It is easy to figure out how external reserve has been rising steadily and what the muscle-flexing by the CBN is all about. If production and prices can be sustained, the CBN will be able to defend the naira longer than you can imagine. But we all know it doesn't take long before the creek boys do their thing. Let's keep our fingers crossed and hope that doesn't happen but instead production increases. Forcados is still down. As for FDIs, them go come........stability and some level of clarity/certainty will attract them. Was Naira floated before they left?

DeRuggedProf:
Hmm!
Many bottom-less pits on this NSE....
After guessing on a bottom and taking position, the stock go just shake body continue towards Bayelsa...

I can relate. Was targeting FO below N50. It reversed at about N50.40 to settle at N52 ish. I was like.....so I don miss this rally? But made up my mind not to jump into that bus regardless. Then it made a new low today. So you were not ready to move before? Wickedness in high places.

OBAGADAFFI:
Is UACN about to release their result ?

I have placed orders for the stock since morning, but no luck buying.

I am not convinced this stock has bottomed o. I bought at N12.02 yesterday to increase my holding. Decided to go and wait with my bro at that bus stop of N10 (well more like N11).
There are these 2 sell orders of 2m ish that appears everyday. Buyers snapped them up today but I am not sure that's all the sellers are offloading. Make them no do as FO did today.

locodemy:
Ewooo! I sold it at loss o.i bought 77 kobo and sold 75kobo not that the stock will not perform but because i needed to make the fcmb 20m units as the result/dividend day is very very very near..........

Bro, you need to stop bandying figures on this thread. Not like you're not free to do as you please but it passes you off as someone with ulterior motive.

Tritri:
I think UACN might end up like CARDBURY IF CARE IS NOT TAKEN.

In terms of share price or profitability? What do you see? I took position at N15.99 and waiting for it to bottom out before buying again. Going long term though except unusual price appreciation occurs along the line, then I would cash out and re-enter after a retracement.

NOT a buy recommendation

OBAGADAFFI:
PZ overtake UACN

What a crazy market .

You can 'say' that again. Fundamentally, UACN is presently not PZ's mate nah. Just because UACN's subsidiaries are in the market to raise funds now means UACN should be dumped at any price?
Anyway, I think UACN intends to fund its own portion of the rights through cash flow which could mean there might not be any dividend this year. Funds for Portland, UAC-Prop (and livestock?)........ odi kwa serious.

Intendy:
there is leadership tussle here.
this even within the family.
He was being groomed by his father no doubt but he doesn't for now deserves it.
maybe 2-4 years time.

I don't understand this part. He has been the MD/CEO of the bank for about 10yrs now. Youngest CEO of a bank at the time.

duni04:
Lol Sir, this is funny and interesting at the same time. People are offloading because they don't like Ladi Balogun?
We should get Locodemy's perspective on this.
Much respect sir

Ladi is leaving the position of MD/CEO of FCMB ltd(the bank) to become the group CEO. Some could interpret he wouldn't have as much hold on the bank as he used to (I doubt this is the case though).

Btw, 2 Morgan clients are offering about 4m for sale at N1.29 Do they hate the new guy this much?

For me, I won't give myself headache o. FBN & UACN (long term) Presco, ETI,UAC-PROP(short term)

duni04:
You probably meant to tag Locodemy instead of me. The post i made on FCMB was based on what i saw on the market, no personal interest there

There is a correlation between your post and his response. More like the probable reason for offload. So you were rightly tagged.

ihedioramma:
Is like GEJ wife use your name to open account . The way you people take they call million i come they think who is buying below 100 untis ? . about what you ask be your self go on and buy it that is what sir locodemy did befor fcmb get good news the same to me . and that is what peterichy is doing now . sister mercy make it true this way befor mmm take the money, the same with born 2be rich, i dont know if the thing done bit am .

Clown aiye

Mpeace:
Morgan capital pple just dey pull weight for ths FCMB oh. More than 2,000,000 of the bid for the stock are from morgan capital clients.

fxuser:
how can u tell !
i'm part of the guilty. kept some bids in at .24 and .25
#avgUp

Morgan customers can identify bids from other Morgan customers. Bids from itrade are checked in the bid list. The individual client's bid is checked and bolded (so you can identify your own bid and position in the bid/sell order queue).

In other words, my order is checked and bolded in the queue and that of other morgan customers is just checked(even though their identity is unknown).

OakPearl:
Absolutely true bro.
Best stock phrase I've read here in 2017!
Suggested materials, tools, resources and apps to learn these things needed badly.
Anyone pls?

Emperorville:
pls how do i learn all the technicalities or better-still you give me link to materials to learn them. thanks will really appreciate it.

I think fxuser once posted some links and books if I'm not mistaken. You could go through his posts or ask him to help with resources for a few units of UCAP.

DeRuggedProf:
Who know the PEAKS and BOTTOMS? Once you sell it seems the peak moves UP....see UCAP

Looks like we are having a repeat of 2016 in terms of price trend. The NSEASI might dip to its lowest for the year in February when most stocks will record their lowest prices for the year (exceptions will exist)
This was the trend in 2016 save for some that dipped further towards the end of the year.

Watching Mr Market

nio68:
Just when you think a stock has bottomed out it fall further .. my eyes on UACN

Fundermental analysis tells you WHAT to buy, Technical analysis tells you WHEN to buy.
We all need to learn TA (at least, to an extent).

Bought at N15.99 but there were signs it could fall further that I ignored.

fxuser:
market maker mopping all d left overs
#fcmb

Market maker is reputed for price manipulation. Left to market forces, FCMB shouldn't be trading or closing at N1.30 sef

Intendy:
stock with new 52 week lows

UACN plc #15.99k

stock with new 52 week highs

stanbic Ibtc holdings plc #17.80k

Looks like an historical low or at least, as far back as I know. I couldn't resist the urge to take a plunge yesterday at N15.99k. I'll give it time.

locodemy:
Have you seen the result?I have taken it as one of those stocks can/cant deliver........i am in @50 50.

Obviously not an impressive result. I will also preach caution.

locodemy:
we who understand this market better than you saw all these losses coming and we cleaved on fcmb,ucap,uba,Afriprud,Eterna oil,oando,Access ,zenith etc.

Will you say you were not warned.what we are not seeing here are faces but experienced ones full here gberekete.Always pay attention and know exactly what is wrong/right with a company they tell you not to invest and the one to invest.

Anyway,i am sorry for the loss and you are involved.

Slow down. You equally bought Sterling at N0.77 and no one has made mockery of that buy. Quit this attitude of yours.

richie9093:
Aye, thanks.

As it happens that website has a paywall. Couldn't read anything.

Thanks nonetheless.

Here you go:
http://af.reuters.com/article/investingNews/idAFKBN14W1C0

"LAGOS (Reuters) - Nigeria's stock exchange NSE is working "very closely" with South African cell operator MTN on a listing of its shares this year, the head of the bourse said on Thursday.

"The pressure on MTN has never been higher to list," NSE Chief Executive Oscar Onyema told a business conference. "There's a project team working with them."

He also said local airline Med-View would list its shares on January 30

(Reporting by Chijioke Ohuocha; writing by Ulf Laessing; editing by Jason Neely)"


Not a recommendation to buy

angelo82:
Ok I got it but then why are the banks in a hurry because it seems nothing changed as regards timing of release of results.

The exchange encourages more disclosures, transparency and intends to enforce these "new" and amended rules going forward. I expect most results in march except for the early filers.

angelo82:
Correct me if am wrong,60days means End of feb. because December is the end of Q4.

Q4 is considered the FYE where audited results for the whole year is declared with or without corporate action (for companies with December year end). The rule permits listed companies 90 days to file AUDITED ANNUAL REPORTS which is what the investing community is expecting now.

The 60 days filing requirement is for companies that chose to audit quarterly results that are otherwise expected in 30 days from end of respective quarter.

The implication of these rules is that a company is not penalized for releasing the result earlier than required or within the stipulated number days. Therefore, March 31 remains the deadline. In fact, the rule permits additional 30 days (i.e till April 30) if a company requests additional time for result filing before the initial due date.

OakPearl:
Both are very illiquid especially Presco.
Average daily volume between 300,000 - 500,000 shares.

I completely agree with the illiquidity of Presco but that company might declare a fantastic result if Q3 is anything to go by. If the management lives up to expectation, there should be a twin reward here sending the price through the roof.

angelo82:
https://www.businessdayonline.com/nse-notifies-public-of-effective-date-of-new-rules/

Apparently, you didn't read the "new" rules. Open the link nah and acquaint yourself with the rules nah. The information I shared earlier is the rules for filing of results.
Other info such as application for extension, penalties are contained in the doc for those that might be interested.

In case you missed this:

http://www.dailytrust.com.ng/news/business/fg-may--baker-sign-mou-on-n50bn-food-supplements/180067.html

This link might provide answers to some 'what is brewing?' questions in the future.

Disclaimer: I do not have any plans to acquire shares in M&B.

angelo82:
We are talking about new rules here and not the old one.Please check very well.

Which new rules? When were they made? Do you have a reference?

http://www.nse.com.ng/regulation-site/IssuersRules/Rules%20on%20Filing%20of%20Accounts%20and%20Treatment%20of%20Default%20Filings.pdf

zendi:
Brother 'kenneth, please tell those 'manipulators' that Oga Zendi appreciates their efforts,
and that I equally need their services on stdinsure, evansmed and intennegins, places where I'm currently trapped.

Translation: nobody can manipulate a stock that is not hot and attractive in the first place.

Place a sale mandate on your IEI and Evans. You will wake up one day to discover it has been sold. I am inclined to believe that there is a requirement that minority shareholders who wish to opt of the company are given the chance to do so. For as long you have placed your order for such stocks designated as "Delisting In Progress". I could be wrong but the striking coincidence of sale of my holdings in both stocks informed my belief.

megainvest:
Is there a new NSE guideline on latest date for submission of FY results?

angelo82:
Yes.30 days after end of the quarter .

Actually, it is 30 days after end of quarter for quarterly results i.e Q1, Q2 and Q3. March ended Q1 results are due latest April 30, June ended Q2 results are due July 31 etc.

Audited Quarterly results are due latest 60 days after relevant quarter. Applicable to the likes of Access, GTB and Zenith that regularly audit H1 results.

FY results or audited annual results are due 90 days after end of year. So companies with final year end Dec 31 have until March 31 of the following year to file results.