South Africa - JSE lower, resource shares fall
Local marketsLosses in resource shares were leading the slide on the JSE on Tuesday, with the local bourse falling 0.77% by noon.
The rand was trading at R8.94 to the US dollar, remaining fairly stable despite news of slowing credit extensions in the private sector.
Brent crude oil rose 0.93% to sell at $103.76 a barrel, though analysts expect a fall if anticipation of growing crude inventories in the US is confirmed.
International marketsUS markets ended positively yesterday, with the Dow Jones and the S&P 500 each rising 0.72% and the Nasdaq gaining 0.85% ahead of the release of consumer confidence and real estate data.
The Japanese Nikkei had fallen 0.17% by its close this morning, while the Hang Seng gained 0.69% on positive home sales data from the US as well as optimism that central bank economic stimulus measures will continue. The Shanghai index was closed today.
In Europe, some markets were supported by the release of positive corporate earnings results. The German DAX had risen 0.80%, but the French CAC40 had slipped 0.10% and the English FTSE 100 was flat by noon SA time.
Share price newsAfter 55 deals totalling 90,846 shares, Aquarius Platinum (AQP) rose 7.91% to sell at R6 a share. The company announced financial and production results this morning. Industrial suppliers Iliad Africa (ILA) gained 2.88% after investors traded 189,290 shares in 44 deals, sending the share price up to R5 at midday.
Metmar (MML) continued to lose ground, falling 5% to R1.52 after 49 deals saw the exchange of 112,998 shares. Metmar released theiraudited abridged financial results for the year. After 351 deals of 272,372 shares, Lonmin slid 3.98% to sell at R38.40 a share, after the company published notice of an incident at their Number Two furnace.
Nigeria - FCMB declares N16.3bn profit, issues bonus shares
Shares in First City Monument Bank (FCMB) Plc fell by 8.5 per cent yesterday as investors reacted to non-payment of cash dividends by the bank for the year ended December 31, 2012.
The Nigerian Stock Exchange (NSE) made the audited results of the bank available on the trading floors yesterday showing a profit before tax of N16.25 billion in 2012, compared with a loss of N10.68 billion in 2011.
Despite the improved fortunes, the directors of the company did not recommend any cash dividend payout for the shareholders. Instead, a bonus issue of one new share for every 25 shares already held was recommended.
Apparently discouraged by the recommendation, some investors decided to sell and reap the capital appreciation of about 25 per cent the equity had amassed since the beginning of the year instead of waiting for the bonus issue.
The high supply without enough demand depressed the equity price of FCMB by 8.5 per cent from N4.70 to N4.30 per share.
Meanwhile, an analysis of the 2013 results of the bank showed that it ended the year with profit after tax of N15.12 billion as against a loss of N9.24 billion in 2011. Deposit rose by 57 per cent from N410.68 billion to N646.26 billion, while loans and advances improved by 10 per cent from N323.35 billon to N357.79 billion.
Total assets stood at N908.54 billion, up by 51 per cent from N601.61 billion the previous year. Earnings per share improved from negative 49 kobo to positive 81 kobo.
FCMB also reported its unaudited results for the first quarter (Q1) ended March 31, 2013, showing gross earnings of N31.41 billion, compared with N26.12 billion in 2012. Profit after tax and profit before tax rose marginally from N4.3 billion to N4.8 billion and N4.1 billion to N4.2 billion in 2012 and 2013 respectively.
Meanwhile, trading at the stock market was bearish as the Nigerian Stock Exchange (NSE) All-Share Index depreciated by 0.38 per cent to close at 33,030.83.
The rand was trading at R8.94 to the US dollar, remaining fairly stable despite news of slowing credit extensions in the private sector.
Brent crude oil rose 0.93% to sell at $103.76 a barrel, though analysts expect a fall if anticipation of growing crude inventories in the US is confirmed.
International marketsUS markets ended positively yesterday, with the Dow Jones and the S&P 500 each rising 0.72% and the Nasdaq gaining 0.85% ahead of the release of consumer confidence and real estate data.
The Japanese Nikkei had fallen 0.17% by its close this morning, while the Hang Seng gained 0.69% on positive home sales data from the US as well as optimism that central bank economic stimulus measures will continue. The Shanghai index was closed today.
In Europe, some markets were supported by the release of positive corporate earnings results. The German DAX had risen 0.80%, but the French CAC40 had slipped 0.10% and the English FTSE 100 was flat by noon SA time.
Share price newsAfter 55 deals totalling 90,846 shares, Aquarius Platinum (AQP) rose 7.91% to sell at R6 a share. The company announced financial and production results this morning. Industrial suppliers Iliad Africa (ILA) gained 2.88% after investors traded 189,290 shares in 44 deals, sending the share price up to R5 at midday.
Metmar (MML) continued to lose ground, falling 5% to R1.52 after 49 deals saw the exchange of 112,998 shares. Metmar released theiraudited abridged financial results for the year. After 351 deals of 272,372 shares, Lonmin slid 3.98% to sell at R38.40 a share, after the company published notice of an incident at their Number Two furnace.
Nigeria - FCMB declares N16.3bn profit, issues bonus shares
Shares in First City Monument Bank (FCMB) Plc fell by 8.5 per cent yesterday as investors reacted to non-payment of cash dividends by the bank for the year ended December 31, 2012.
The Nigerian Stock Exchange (NSE) made the audited results of the bank available on the trading floors yesterday showing a profit before tax of N16.25 billion in 2012, compared with a loss of N10.68 billion in 2011.
Despite the improved fortunes, the directors of the company did not recommend any cash dividend payout for the shareholders. Instead, a bonus issue of one new share for every 25 shares already held was recommended.
Apparently discouraged by the recommendation, some investors decided to sell and reap the capital appreciation of about 25 per cent the equity had amassed since the beginning of the year instead of waiting for the bonus issue.
The high supply without enough demand depressed the equity price of FCMB by 8.5 per cent from N4.70 to N4.30 per share.
Meanwhile, an analysis of the 2013 results of the bank showed that it ended the year with profit after tax of N15.12 billion as against a loss of N9.24 billion in 2011. Deposit rose by 57 per cent from N410.68 billion to N646.26 billion, while loans and advances improved by 10 per cent from N323.35 billon to N357.79 billion.
Total assets stood at N908.54 billion, up by 51 per cent from N601.61 billion the previous year. Earnings per share improved from negative 49 kobo to positive 81 kobo.
FCMB also reported its unaudited results for the first quarter (Q1) ended March 31, 2013, showing gross earnings of N31.41 billion, compared with N26.12 billion in 2012. Profit after tax and profit before tax rose marginally from N4.3 billion to N4.8 billion and N4.1 billion to N4.2 billion in 2012 and 2013 respectively.
Meanwhile, trading at the stock market was bearish as the Nigerian Stock Exchange (NSE) All-Share Index depreciated by 0.38 per cent to close at 33,030.83.
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