OLOBAM:
why transcorp when other better stock dey. except you want to jijo

Just thought the price is good for JIJO in the short run, but I may be wrong anyway, maybe it will come down small again.

Slowly loading JB

CBN MOVES RATE OF FX SALE TO FPIs FROM 366.70 TO 380.20, WILL UPDATE AS I GET DETAILS?

Regards,

I just received an unconfirmed report that the CBN has adjusted the Fx sales peg to FPIs from the initial N366.70/$ to N380.20/$.
...the interpretation of this is that the apex bank(CBN) may have already devalued the currency by approx 3.7% given current realities.

The move might not be unconnected to the FPIs folks jettisoning of OMO sales by the apex bank yesterday.

This move, together with the CBN' recent guidance on stimulus(including a proposed N1.1 trillion intervention fund) to sectors with high 1st point of impact, will act to give a good measure of cushion to any feasible shock from the aftermath of the twin 'evil' of covid-19 and strain in oil price.

The next sensible thing to do is to:
1) Ensure that the proposed budget amendment is done in a way that sets realistic targets, and not those "forward-looking assumed pegs" as seen in the last 2020 budget.

2) Remove the 'evil' called subsidy, and re-align those accruals towards expanding/diversifying our economic base. This is the best opportunity/time to do so !!

3) Then enact and pass the expanded version of the PIB, and amend the Land use act, and we' ll be good to go !!

But of course, implementing these items can only be imagined with our current leaders and policy makers !!
All the same, great move from the CBN !!

For those who still think that this is not the best time to align with healthy assets/coys(selective buying with MoS compression to valuation in view) or who are still waiting on the side line in a bid to time the market, I sincerely wish u Good luck !!

Selah

Mcy56:

The value is here and your waiting paid off.

What is happening with them please? Mcy56

Doors are still open, but will soon shut down for bonanza part 2.

Mcy56:

Peter, what do you think about transcorp at currentprice, 60k?

better deals out there, Hotel business will not do well this year due to covid 19, and the government has things to battle other than power problems this year......................I see transcorp going down below 50k.........My opinoin sha

Chibuking81:
Doors are still open, but will soon shut down for bonanza part 2.

Your prophecies no dey work. Same as Perterichy. You people didn't finish your apprenticeship.

I am sure more than half of the quotes attributed to this guy is not true. This one is funny though.

[quote author=

How did market go today. Close price for uba?? The hit was getting much I had to drop the Maya at kilometer 5.2. I no get strength for the tension. Secure my BP first.

onegentleguy:
I just received an unconfirmed report that the CBN has adjusted the Fx sales peg to FPIs from the initial N366.70/$ to N380.20/$.
...the interpretation of this is that the apex bank(CBN) may have already devalued the currency by approx 3.7% given current realities.

The move might not be unconnected to the FPIs folks jettisoning of OMO sales by the apex bank yesterday.

This move, together with the CBN' recent guidance on stimulus(including a proposed N1.1 trillion intervention fund) to sectors with high 1st point of impact, will act to give a good measure of cushion to any feasible shock from the aftermath of the twin 'evil' of covid-19 and strain in oil price.
The next sensible thing to do is to ensure that the proposed budget amendment is done in a way that sets realistic targets, and not those "forward-looking assumed pegs" as seen in the last 2020 budget.
...then remove the 'evil' called subsidy, and re-align those accruals towards expanding/diversifying our economic base. This is the best opportunity/time to do so !!
Then enact and pass the expanded version of the PIB, and amend the Land use act, and we' ll be good to go !!
But of course, implementing these items can only be imagined with our current leaders and policy makers !!

All the same, great move from the CBN !!

For those who still think that this is not the best time to align with healthy assets/coys(selective buying with MoS compression to valuation in view) or who are still waiting on the side line in a bid to time the market, I sincerely wish u Good luck !!

Selah

Frankly, the CBN governor, Mr G. Emefiele has been doing so much to help curb/cover the inefficiencies of this present govt in power.
This move(in addition to the series of other tightening measures) would've been done to help buy time and allow our leaders to come up with fiscal policies that can be positively impact driven.
...if only our leaders can see past the end of their nose' !!

May God continue to guide and protect us !!

zenithbank has sold over 1.669billion shares from 11th March 2020 till date, why guaranty has sold over 1.054billion shares for the same period. what zenith sold for 7days is on the average what they normally sell for a month and guaranty for two months. some are still afraid to buy at this price and some are busy buying. las las we will know who took the best decision.

Cadbury Nigeria Delivers Double-Digit Bottom-Line Growth in FY19
https://businesspost.ng/economy/cadbury-nigeria-delivers-double-digit-bottom-line-growth-in-fy19/

Seplat Proposes Dividend Payment for FY2019
https://businesspost.ng/economy/seplat-proposes-dividend-payment-for-fy2019/

Zenith Insurance, MTN Begin Mobile Insurance Service
https://businesspost.ng/brands-products/zenith-insurance-mtn-begin-mobile-insurance-service/

Reps Threaten to Fine, Arrest MTN, Other Telcos CEOs
https://businesspost.ng/general/reps-threaten-to-fine-arrest-mtn-other-telcos-ceos/

Ecobank Urges Customers to Adopt Digital Self-Service Solutions
https://businesspost.ng/banking/ecobank-urges-customers-to-adopt-digital-self-service-solutions/

ARM Excites Clients With Mobile App to Trade Local, Int'l Stocks
https://businesspost.ng/economy/arm-excites-clients-with-mobile-stock-trading-app/

Doors have been opened since 2019 it could only get wider or narrower for the next few months or more

Chibuking81:
Doors are still open, but will soon shut down for bonanza part 2.

Sorry o, bros there is no competion in this market some are looking for home run (2- 10) years some are looking for 10% within 2 days, some would eventually loss money. You are on your own. Even if you take to the advise of the best minds here you are still on your own. What matter is you comfort level both in entry and exit

longlife20:
zenithbank has sold over 1.669billion shares from 11th March 2020 till date, why guaranty has sold over 1.054billion shares for the same period. what zenith sold for 7days is on the average what they normally sell for a month and guaranty for two months. some are still afraid to buy at this price and some are busy buying. las las we will know who took the best decision.

Stocks with new 52 week lows
Transcorp #0.60k
Stanbic ibtc #26.50k
NCR #2.00k
M & B #1.79k

Breadfruit:
What is happening with them please? Mcy56

They're buying out the minority shareholders @35kobo per share. See below link.
I hope you didn't buy it higher. The amount is too small. They may increase the offer price if the shareholders protest during the AGM, maybe.
Start processing your e-dividend form anyway.

http://www.nse.com.ng/Financial_NewsDocs/29404_UNION_DIAGNOSTIC_-ACQUISITION_OF__CORPORATE_ACTIONS_MARCH_2020.pdf

Early January 2020, brokers were sending mails to people to invest in NSE and take advantage of the low prices.

Now prices are 50% lower and they are no longer sending mails.

Where are the brokers now?

Intendy:
Stocks with new 52 week lows

Transcorp #0.60k

Stanbic ibtc #26.50k

NCR #2.00k

M & B #1.79k

Your list don dey thin out.

longlife20:
zenithbank has sold over 1.669billion shares from 11th March 2020 till date, why guaranty has sold over 1.054billion shares for the same period. what zenith sold for 7days is on the average what they normally sell for a month and guaranty for two months. some are still afraid to buy at this price and some are busy buying. las las we will know who took the best decision.

For every seller there is a buyer. Only the future will prove one to have made a mistake.

onegentleguy:


Frankly, the CBN governor, Mr G. Emiefula has been doing so much to help curb/cover the inefficiencies of this present govt in power.
This move(in addition to the series of other tightening measures) would've been done to help buy time and allow our leaders to come up with fiscal policies that can be positively impact driven.
...if only our leaders can see past the end of their nose' !!

May God continue to guide and protect us !!

Correction : Godwin Emefiele.

I am now on the sideline...waiting for the last Bonanza of the decade

N5 Geng

stcool:
I am now on the sideline...waiting for the last Bonanza of the decade
N5 Geng

What if it doesn't come?

Mcy56:

What if it doesn't come?

I mange the ones I have already! We have only spent 3months in 2020

onegentleguy:
I just received an unconfirmed report that the CBN has adjusted the Fx sales peg to FPIs from the initial N366.70/$ to N380.20/$.
...the interpretation of this is that the apex bank(CBN) may have already devalued the currency by approx 3.7% given current realities.

The move might not be unconnected to the FPIs folks jettisoning of OMO sales by the apex bank yesterday.

This move, together with the CBN' recent guidance on stimulus(including a proposed N1.1 trillion intervention fund) to sectors with high 1st point of impact, will act to give a good measure of cushion to any feasible shock from the aftermath of the twin 'evil' of covid-19 and strain in oil price.
The next sensible thing to do is to ensure that the proposed budget amendment is done in a way that sets realistic targets, and not those "forward-looking assumed pegs" as seen in the last 2020 budget.
...then remove the 'evil' called subsidy, and re-align those accruals towards expanding/diversifying our economic base. This is the best opportunity/time to do so !!
Then enact and pass the expanded version of the PIB, and amend the Land use act, and we' ll be good to go !!
But of course, implementing these items can only be imagined with our current leaders and policy makers !!

All the same, great move from the CBN !!

For those who still think that this is not the best time to align with healthy assets/coys(selective buying with MoS compression to valuation in view) or who are still waiting on the side line in a bid to time the market, I sincerely wish u Good luck !!

Selah

So they are devaluing it for FPIs?

This could be seen as a Sell for some FPIs because they will be wondering how many rates the country will have : CBN official rate, NAFEX rate, black market rates, FPI rate. Do we still have interbank rates or it is now at par with NAFEX rate?

Mcy56:

Just thought the price is good for JIJO in the short run, but I may be wrong anyway, maybe it will come down small again.

Chai.... Yayi will be losing here o.

onegentleguy:
I just received an unconfirmed report that the CBN has adjusted the Fx sales peg to FPIs from the initial N366.70/$ to N380.20/$.
...the interpretation of this is that the apex bank(CBN) may have already devalued the currency by approx 3.7% given current realities.

The move might not be unconnected to the FPIs folks jettisoning of OMO sales by the apex bank yesterday.

This move, together with the CBN' recent guidance on stimulus(including a proposed N1.1 trillion intervention fund) to sectors with high 1st point of impact, will act to give a good measure of cushion to any feasible shock from the aftermath of the twin 'evil' of covid-19 and strain in oil price.
The next sensible thing to do is to ensure that the proposed budget amendment is done in a way that sets realistic targets, and not those "forward-looking assumed pegs" as seen in the last 2020 budget.
...then remove the 'evil' called subsidy, and re-align those accruals towards expanding/diversifying our economic base. This is the best opportunity/time to do so !!
Then enact and pass the expanded version of the PIB, and amend the Land use act, and we' ll be good to go !!
But of course, implementing these items can only be imagined with our current leaders and policy makers !!

All the same, great move from the CBN !!

For those who still think that this is not the best time to align with healthy assets/coys(selective buying with MoS compression to valuation in view) or who are still waiting on the side line in a bid to time the market, I sincerely wish u Good luck !!

Selah

On the part about setting realistic target with amending the 2020 budget in line with current realities, I just heard(unconfirmed) that the oil benchmark has now been reviewed downwards to $30pb(an approx 47% drop from the previous peg of $57pb)
Now that's a huge bite on revenue.

Is it realistic? ...I think so.
Because added to that, the FEC also approved a 25% cut in recurrent expenditure and a 20% reduction in capex.
These are proposals though. ...until it is accented to(after due signatory) by the President.

That said, I believe that full implementation will depend on how well the govt can manage the fiscal ends that will be constrained by this amendment.

It is well.

Mcy56:
For newbies or interested oldbies, there's money to be made in JBerger considering their mouth watering dividend and bonus issue.
You can just be targeting it at below 22 because the qualification date is still far, which is 29 May, 2020.
This is just my opinion.

You like moving stocks rather than finding the next moving stocks

You go sabi chase molue o.

Mcy56:
They're buying out the minority shareholders @35kobo per share. See below link.
I hope you didn't buy it higher. The amount is too small. They may increase the offer price if the shareholders protest during the AGM, maybe.
Start processing your e-dividend form anyway.

http://www.nse.com.ng/Financial_NewsDocs/29404_UNION_DIAGNOSTIC_-ACQUISITION_OF__CORPORATE_ACTIONS_MARCH_2020.pdf

Oh wow. Thank you sis. That’s good news

lancee:



Waiting for the tension to cool so as not to add more

Corona /Brent ..Dem no wan add more tension to wetin dey ground ..After they will come


**JOKING **

onegentleguy:


AGM' may likely hold. ...but with high safety measures in place.

https://punchng.com/nse-advises-firms-to-adopt-safety-measures-for-agm/

Understandably, most folks may not wish to attend as the "stay at home" talk gathers more momentum.
...but as long as an AGM holds, there'll be approval for dividend distribution no matter the No of persons(shareholders) that attend it.
Voting will be done with any available attendees, even if its just 20 !!
And those who stayed back at home will give their E-approval.(who doesn't like free money)

If people are reduced at the venue, it is even better. Less meatpies and coke.

Mcy56:

Lol. It's even good self, cos the result if good can only have impact if everything stabilizes.
See GTB and Zenith results, they had no impact at all.

In contagion like this, nothing matters.

Though few people will take the opportunity and buy up if they understand what they want.