Market News : ...In Your Interest

May 21

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Market Movers

Top Gainers
Company	Previous Close	Today's Close	% Change
LIVESTOCK	1.05	1.10	+4.76%
RTBRISCOE	1.30	1.36	+4.62%
ETERNAOIL	3.10	3.24	+4.52%
PRESCO	0.70	0.73	+4.29%
UNITYBNK	0.52	0.54	+3.85%

Top Losers
Company	Previous Close	Today's Close	% Change
PORTPAINT	3.42	3.25	-4.97%
PRESCO	15.79	15.01	-4.94%
DANGFLOUR	7.29	6.93	-4.94%
ASHAKACEM	11.00	10.46	-4.91%
HONYFLOUR	2.25	2.14	-4.89%

May 18, 2012(SOURCE NSE)

Reports

Stock Market Report for the Week Ending Friday May 18 2012-NSE
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Dealing Member Firms Quarterly Report Status -as at May 16, 2012-NSE

Articles

Arunmah Oteh & The Failure Of Leadership At SEC-Huhuonline.com Editorial Source
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Gov Lamido Sanusi and his Many Controversies

Interviews

Polls

Do you think the Public Hearing on the near collapse of Nigerian Capital Market will subsequently boost investors confidence?

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Yahoo! and Alibaba reach $7 billion deal

Yahoo! announced today it has reached an agreement with Alibaba Group on a staged and comprehensive plan to unlock the Yahoo's investment in Alibaba.

Day after historic IPO, Facebook's Zuckerberg weds

A day after the historic Facebook stock offering, Zuckerberg on Saturday wed 27-year-old Priscilla Chan, his girlfriend of nearly a decade, according to a guest authorized to speak for the

FACEBOOK IPO LIVE: The social network goes public

The site, which was born in a dorm room eight years ago and has grown into a worldwide network of almost a billion people, is making the most talked-about stock

Nigeria’s SEC signs MoU with Mauritius Financial Services Commission

Lagos (INVESTADVOCATE)-Nigeria’s SEC Wednesday said it has signed a bilateral Memorandum of Understanding (MoU) with the Financial Services Commission of Mauritius at the ongoing IOSCO annual conference in Beijing, China.

Europe's banks on the brink

The euro zone crisis was in full swing when Jean-Claude Trichet took the podium in Berlin last October 6 for his final press conference as president of the European Central

IOSCO: Udoma, Oteh sign Regional MoU of AMERC

Lagos (INVESTADVOCATE)-Udoma Udoma, Chairman Nigeria’s Securities & Exchange Commission Thursday joined Arunma Oteh, Director General (DG) of the Commission to sign an MoU by AMERC Members

Quarterly Returns: NSE sanction on defaulting Dealing Members commence May 16

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) said in a Circular Tuesday that it will tomorrow May 16 2012 commence the sanctioning of defaulting Dealing Member Firms for non submission of

Oteh re-elected as AMERC Chairperson in IOSCO

Lagos (INVESTADVOCATE)-Embattled Arunma Oteh, Director General (DG) of Nigeria’s Securities & Exchange Commission (SEC) Tuesday was re-elected Chairperson of the Africa/Middle East Regional Committee (AMERC).

Only 49.51% Dealing Member Firms render Quarterly Returns

Lagos (INVESTADVOCATE)-Only 49.51 percent (49.51%) of Dealing Member Firms have submitted their Quarterly Report as at May 15 2012 deadline issued by the Nigerian Stock exchange (NSE).

Facebook prices at top of range in landmark IPO

Facebook Inc priced its initial public offering at $38 a share, giving the world's No. 1 online social network a $104 billion valuation in the third largest offering in U.S.

World leaders vow to combat financial turmoil, back Greece

World leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil while revitalizing their economies, which are increasingly threatened

Obama pledges tough enforcement of Wall Street reforms

President Barack Obama on Saturday called on the U.S. Congress to back his efforts for tough new financial industry oversight, saying a $2 billion trading loss at JPMorgan underscored the

EFCC Gets Approval To Charge Hembe, Ifeanyi Over Diversion Of Estacode

The Chairman of the House Of Representatives Ad hoc Committee on Capital Markets, Herman Hembe and Deputy Chairman, Azubuogo Emeka Ifeanyi will be charged on a two-count charge of diverting

Sterling Bank posts 16.3 % growth in Q1 2012

Lagos (INVESTADVOCATE)-Sterling Bank Plc Thursday reported a 16.3 percent (16.3%) growth in Profit After Tax (PAT) for the First Quarter Report for the Period Ended March 31 2012.

Oteh seeks re-election as AMERC Chairperson in IOSCO

Lagos (INVESTADVOCATE)-Embattled Arunma Oteh, Director General (DG) of Nigeria’s SEC is seeking re-election as Chairperson of the Africa/Middle East Regional Committee (AMERC) at the ongoing 37th IOSCO Annual Conference in

JPMorgan $2 billion loss hits shares, credit, image

JPMorgan Chase & Co lost $15 billion in market value and a notch in its credit ratings on Friday while a chorus of regulators and politicians reacted to its surprise

Nigerian Breweries pays N158 billion dividend in 13 years

Lagos (INVESTADVOCATE)-Brewing Giant, Nigerian Breweries Plc has paid a total of N157, 844,948,020 dividend to shareholders of the Company in the last 13 years.

Sources say FBI to probe JP Morgan trading loss

The FBI has opened a probe into Chase & Co's $2 billion trading loss, several media sites are reporting citing a source.

Is Warren Buffett Still The World’s Greatest Investor?

Last December Buffett named his son Howard as non-executive chairman of Berkshire, an unpaid position with little if any influence over daily investing decisions.

MTN, 3 GSM networks to pay N1.17b fines over poor service quality

MTN Nigeria and three other GSM networks have been fined a total of N1.17 billion in penalty for providing poor quality telephony service to mobile phone users in Nigeria, in

Oteh has no capability to handle Capital Market-Okezie

What we are saying is that Oteh does not possess the experience to run the Capital Market.

Nigeria’s April inflation rate rise to 12.9% YoY-NBS

Lagos (INVESTADVOCATE)-Nigeria’s April 2012 inflation rate Tuesday rose to 12.9 percent (12.9%) Year-on-Year (YoY) compared to 12.1% reported in March 2012, The National Bureau of Statistics (NBS) has said.

Sona Group acquisition: help grow Nigerian Breweries Profit by 25.4% in 2011

With the acquisition of the Sona Group, we have built capacity and have already started using it to make a lot of money.

We‘ll not issue Bonds-Governor Peter Obi

Lagos (INVESTADVOCATE)-Governor Peter Obi of Anambra State South East Nigeria at the weekend said the State will not issue Bonds at the Nigerian Stock Exchange (NSE) to raise funds for

Bank of America Starts Mortgage Reduction Effort

Bank of America has started sending letters to thousands of homeowners in the United States, offering to forgive a portion of the principal balance on their mortgages by an average

Nigeria's Dangote eyes London listing by Q3 2013

Nigerian billionaire Aliko Dangote said on Thursday he was aiming to list his $11 billion cement company on the London stock exchange by the third quarter of 2013.

Nigeria's SEC issues Jan’ 2013 deadline on Dematerialisation

Lagos (INVESTADVOCATE)-Nigeria’s Securities & Exchange Commission (SEC) has announced that All share certificates must be dematerialised by January 01 2013.

UBA Reports N16 billion Profit in Q1 2012

Lagos (INVESTADVOCATE)-United Bank for Africa Plc (UBA) Wednesday reported a N16 billion Profit Before Tax (PBT) in its First Quarter (Q1) Ended March 31 2012.

The Next Bank to Fail: A Nigerian Bank Safety Perception Survey Report

The Report has the following key highlights, the perception of respondents on the most financially stable, liquid and safest banks, the perception of respondents on the next Nigerian bank to

Guinea Insurance Board sacks Executive Director

Lagos (INVESTADVOCATE)-The Board of Directors of Guinea Insurance Plc operating on the Insurance Sector of the Nigerian Stock Exchange (NSE) Wednesday announced the disengagement of Ekerete Ola Gam-Ikon, its Executive

Takeover bid: 9 Directors resign from Finbank’s Board

Lagos (INVESTADVOCATE)-Nine Directors have resigned from the Board of Finbank Plc following the ongoing takeover bid of the Bank by First City Monument Bank (FCMB)

Capital Market

NSE woos SMEs with listing benefits

Capital Market | Monday, 21 May 2012

The Nigeria Stock Exchange has said that Small and Medium-Scale Enterprises could avoid the difficulty in accessing low-cost and long-term capital as well as re...

Dangote Sugar’s acquisition of SCC gets shareholders’ nod
The shareholders of Dangote Sugar Refi
Only 49.51% Dealing Member Firms render Quarterly Returns
By Peter OBIORA InvestAdvocate Lagos

Money Market

MPC meeting: Analysts differ on lending rate

Financial analysts have expressed divergent positions on the expected benchmark lending rate, ahead of the 83rd Monetary Policy Committee meeting on Monday and ...

Money Market | Monday, 21 May 2012

Inter-bank rates up as liquidity dips further
Inter-bank lending rates rose last wee
‘Inflation to remain double digit in near future’
Analysts at Afrinvest West Africa Limi

Frauds & Scandals

JPMorgan's Trading Loss Is Said to Rise at Least 50%

Frauds & Scandals | Thursday, 17 May 2012

The trading losses suffered by JPMorgan Chase have surged in recent days, surpassing the bank's initial $2 billion estimate by at least $1 billion, according to...

Sources say FBI to probe JP Morgan trading loss
The FBI has opened a probe into Chase
JPMorgan CIO chief Drew quits after trading loss
JPMorgan Chase & Co sacrificed inv

Results & Dividends

Consolidated Breweries turnover rises by 14%

Consolidated Breweries Plc has recorded a 14 per cent rise in its turnover for the year ended December 31, 2011. The company’s turnover, which stood at N24.5bn the preceding year, rose by N3.4bn or 14 per cent to N27.9bn in the year under considerat...

Results & Dividends | Monday, 21 May 2012

Home prices to hit bottom in 19 markets this year

Home prices in a majority of the markets covered in Zillow’s Home Value Forecast are set to bottom this year — if they haven’t already, according to a new Zillo...

Real Estate | Friday, 4 May 2012

Mortgage Rates Hit Fresh Lows: 30-Year at 3.79%

Here we go again. The average fixed rate 30-year mortgage fell to 3.79% this week, yet another record low, according to data from Freddie Mac. That's down from ...

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