Investor's ALERT: Stocks that made headlines today - 110612

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Investor's ALERT: Stocks that made headlines today - 110612

Monday, June 11, 2012 / The Analyst / Proshare Research

Companies in the NEWS Today – Dangote Cement, UBA Plc, Mutual Benefits Assurance, AIICO Insurance Plc, NIGER Insurance Plc and LASACO Assurance.

The 5.25 million mtpa Dangote Cement Obajana Plant Line three, which is expected to assist Nigeria to achieve self-sufficiency in cement production will be commissioned today.

The stock share price has been closing flat YoY while it has recorded +3.42% gains in 2012. The company also recorded positive growth performance in its Q1 2012 financials while the commissioning of the new plant will surely help improve the production quantity of the company.

United Bank for Africa Plc debuts Africard and continued to broaden the spectrum of card services available to customers. Consequently, customers of the bank can now leverage on the growing global presence of UBA in the continent and globally.

The stock recorded +1.54% and +0.93% YoY gain in 2008 and 2009 respectively while it closed flat in 2010. It further recorded upwards movement in 2011 with +4.86% gains recorded with +0.54% YTD gain witnessed in 2011. The news on the debut of Africard might not have direct impact on the stock.

Mutual Benefits Assurance group has so far invested about N2.5 billion in Lagos LAGBUS transport scheme. The firm added 40 new buses at additional cost of N750 million to the transport system.

The stock recorded -2.63% price declines in 2008 while it closed flat in subsequent periods of review. The company recorded positive growths in its latest result of Q3 2011 while the news of the firm’s investment in LAGBUS transport scheme might not positively affect the performance of the stock.

AIICO Insurance Plc is planning to raise an additional N8 billion capital as part of efforts to remain financially strong and continue to render excellent services to its esteemed customers.

The stock’s share price recorded -4.82% declines in 2009 while it closed flat in the remained periods under review. The 2011 Audited result shows the insurance outfit recorded positive growth in gross premium and PAT while the performance of the company might be affected by the raising of the additional capital by the firm.

NIGER Insurance Plc plans to organise a befitting golden jubilee celebration in August, having weathered the storm successfully in the difficult business environment in Nigeria. Uranta stated that Niger Insurance has evolved over time to be one of the most sought after insurance providers in the country.

The stock recorded +4.30% YoY growths in 2009 while the stock closed unchanged in other periods of review. The company’s celebration of its golden jubilee is not expected to have any positive impact on the share price as it will eat into the company’s resources which has not presented its Audited 2011 result.

LASACO Assurance has affirmed its commitment to retain its pedigree as a frontline player in the oil and gas industry through adherence to ethical standards and professionalism.

The stock share price witnesses +2.31% and +3.51% in 2008 and 2009. The closed flat in 2010, 2011 and 2012 YTD performance. It recorded positive gross premium growth while negative PAT growth was recorded in Q4 2011 financials. The news/information is of no use to the market.

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