SEC approves AP`s offer & Despite the odds
August 4, 2008
The bulls maintains a good hold –despite the odds
Nigerians are fleeing bakkassi in defence of themselves and their properties in the event of a handover of the peninsula to Cameroon on august 14th . The
third mainland bridge in Lagos is up for maintenance -causing unusual traffic and hike in transportation fares in the Lagos Island /Victoria Island axis of the city.And the upper house! – the upper house is divided about the handover of Bakassi to Cameroon .Possibly Nigeria might have to go back to the International Court of Justice .
Cheering NEWS !!The bulls chose just around these gloomy times to resurface at the stock market and the trend will likely last.
Through out last week, the market was consistently bullish.
Top gainers for Monday include Julius Berger -7.31,Flourmill-3.40,and Conoil-2.90
SEC,Approves AP `s N110BN Public Offer .Rights Issue Too
One of Nigeria’s leading oil giants AP will soon come to the market to raise N110BN .
The public offer is being made at N250.00 while the Rights issue goes for N230.00.The fund is to strengthen the operations of AP.
AP `s 2007 financial reports were very impressive as the company posted a profit before taxation of N7bn .Up more than 260 percent from the previous year .The company’s net profit upped with about 250 percent from 2.1 bn in 2006 to 5.7 bn in 2007 . A dividend payment of N7.00 was issued to shareholders .
Cheers.
Market performance for june 2008
August 1, 2008
The MONTH OF JUNE WITNESSED OF 9.8 BILLION SHARES WORTH 249.9 BILLION IN 330,332 DEALS.
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THE INSURTANCE SUBSECTOR WAS HE MOST ACTIVE WITH TRADED VOLUME OF 9.85 BILLION IN 51,523 DEALS.THE BANKING SUBSECTOR FOLLOWED WITH 7.25 BILLION SHARES VALUED AT 174.95 BILLION IN 161,357 DEALS .FIDSON ,OMATEK AND TANTALIZERS GOT LISTED THIS MONTH .ALL SHARE INDEX DECREASED BY 5.05 % TO 55,949 FROM 58,929.02.
then this today
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top gainers included mobil -12.00 ,julius berger 6.96,guiness-3.90 and conoil-3.60
