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Investment in FG’s bond appreciates by 0.86%

By Michael Eboh
INVESTORS’ interest in Federal Government’s bonds heightened last week, as their investment in the Over-the-Counter Bond Market appreciated by 0.82 per cent.

In particular, investors staked N402.78 billion on Federal Government Bonds in contrast to N399.49 billion recorded in e previous week.

Also, trading in the sector appreciated by 3.6 per cent as a turnover of 359.1 million units were exchanged by investors in contrast to 346.63 million units traded in the previous week.

In general, a turnover of 359.1 million units valued at N402.78 billion was recorded in 4,467 deals, in contrast to the previous week’s turnover of 346.63 million units valued at N399.49 million in 4,516 deals.

The most patronised bond in the week under review was the 6th FGN Bond 2029 Series 3, accounting for 12.2 per cent of the total transactions in the sector, with 43.8 million units valued at N55.51billion in 308 deals.
Fourth FGN Bond 2017 Series 9, followed as the second most patronised bond, accounting for 9.7 per cent of the total transaction, with 34.8 million units valued at N37.63 billion in 294 deals.

Of the 41 FGN Bonds available, only 20 were traded during the week, compared to 22 in the preceding week.
A number of corporate actions were announced in the Memorandum Quotations sector of the Nigerian Stock Exchange (NSE).

Fund Managers of Stanbic IBTC Guaranteed Investment Fund are proposing a Coupon of N8.50 per Note for the funds audited results for the year ended December 31, 2009. The fund manager announced that the closure register of Note holders is February 16, 2010 while payment date would be announced later.

Stanbic IBTC Nigerian Equity Fund has announced a coupon of N45 per note for investors in its audited result for the year end, December 31, 2009. It also announced that the date of closure of register of Note Holders is February 16, 2010 while payment date would be announced later.

Fund managers of Stanbic IBTC Ethical Fund, in their audited result for the year ended, December 31, 2009, is recommending a coupon of N0.03 per Note. They announced that the date of closure of register of Note Holders is February 16, 2010, while payment date would be announced later.Also, four companies presented their financial projections to the investing community last week. First City Monument Bank Plc forecasts gross earnings of N21.82 billion and profit after tax of N1. 35 billion for its first quarter ending March 31, 2010.

Abbey Building Society Plc forecasts a turnover of N550.72 million and profit after tax of N175.63 million for its half year ending April 30, 2010.

Intercontinental WAPIC Insurance Plc forecasts Gross Premium of N1.57 billion and profit before tax of N289.4 million for its first quarter ending, March 31, 2010.

Tripple Gee & Company Plc forecasts a turnover of N852.4 million and a profit after tax of N19.4 million for its year ending, March 31, 2010.


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