French banks in Ivory Coast.(BNP.PA)

The Republic of Ivory Coast lies in the North western part of the African continent with a population of 21.6 million (UN, 2010)
Its capital city is Yamoussoukro with Abidjan being the largest coastal city.

The major languages are French and indigenous languages.
Major religions are Islam, Christianity and indigenous beliefs.
The Monetary unit: 1 CFA (Communaute Financiere Africaine) franc = 100 centimes.

Main exports: Cocoa, coffee, tropical woods, petroleum, cotton, bananas, pineapples, palm oil, fish.

The world's top cocoa grower has been in turmoil since a disputed Nov. 28 presidential election between incumbent Laurent Gbagbo and rival Alassane Ouattara.

Politics in Ivory Coast has been in turmoil since the presidential elections of November 2010.
Victory was claimed by both the incumbent, Laurent Gbagbo, and his rival Alassane Ouattara.
Mr Ouattara was internationally recognised as president, after the electoral commission declared him winner of the run-off vote.
However, Mr Gbagbo claimed victory after the Constitutional Council overturned Mr Ouattara's win.
Mr Gbagbo came to power in 2000 and ruled during the civil war, then overstayed his legal term, which expired in 2005. The vote was rescheduled at least six times before it was finally held.
Mr Ouattara, a former prime minister, has been confined to the grounds of a resort hotel in the capital, protected by hundreds of UN peacekeeping troops. He has been barred access to the institutions of power, including the presidential palace located across the lagoon.
But abroad, Mr Ouattara has succeeded in exerting his influence, including asking some 20 countries to no longer recognize Mr Gbagbo's ambassadors.

The United States and the European Union have imposed sanctions on Mr Gbagbo and his circle, while the World Bank and the West African central bank have cut off his access to financing.
West African regional bloc ECOWAS has told Mr Gbagbo it could use force to oust him if he doesn't leave quietly.
Inside the country, rebels still controlling the north after a 2002-03 civil war have said they are on maximum alert and are ready to fight alongside any ECOWAS intervention force.
On Mr Gbagbo's side, the armed forces remain loyal, he controls the state broadcaster, and has a powerful youth group - the Young Patriots - ready to take to the streets.

BNP Paribas (Euronext: BNP) is the largest global banking group in the world, headquartered in Paris with its second global headquarters in London.

Shareholders as at 31 December 2009:
1) Belgian State (***through SFPI (1))---10.8%
2) AXA---5.2%

3) Grand Duché de Luxembourg---1.1%

4) Public---5.4%

5) Employees---5.7%

6) Institutional Investors---5.9%

7) Other and unidentified---5.9%
***Société Fédérale de Participations et d’Investissement: public interest limited company acting on behalf of the Belgian State.
Changes in Paid-up capital:
On January 17, 2011, BNP PARIBAS (SA) share capital was updated by subscription of 506,622 new shares at a nominal value of 2 euros each further to the exercise of stock subscription options.Consequently, the amount of BNP Paribas (SA) share capital rose by a figure of 1,013,244 euros and thus now stands at 2,397,320,312 euros divided into 1,198,660,156 fully paid-up shares with a nominal value of 2 euros each.

Balance sheet as at 31 December 2009:-
Total Assets =2,057,698,000
Total Liabilities =1,988,197,000

Common Stock=25,188,000
Retained Earnings=5,832,000
Treasury Stock=38,481,000

Cash Flow:

Change In Cash and Cash Equivalents =11,241,000

Income statement as at 31 December 2009:
NetIncome =5,832,000

French bank BNP Paribas SA (BNP.FR) said Monday that the local bank it runs in Ivory Coast, BICICI, has temporarily closed its branches for security reasons.

Tensions have been building in the West African nation where leader, Laurent Gbagbo, is clinging to power after an election he is widely believed to have lost.
On its website, BNP Paribas said its BICICI unit was created in 1962 and is one of the Cote d'Ivoire's leading banks. It has a network of 13 branches located in the major cities of the province, with a head office in Abidjan.
"BICICI provides all the traditional services of a large commercial bank, including tailor-made solutions provided by its investment banking arm to support the growth of companies," it says.
This stock is the darling of most international fund managers.A blue chips index component.

As seen from the 3 months chart,the bulls are charging and February's candlestick is spinning up the previous month upper shadow.

This is a strong buy signal as it has penetrated the 52 weeks MAV resistance and is hoovering above the bull pivot resistance line.

The Dow Wednesday is 2 market days to index/options expiry.
9:30am:--Bullish 30 points gap up booster. Robust earnings reports and corporate deals lifted sentiment.

10:30am:--Spike up to session high.
11:30am:--Bearish shooting star and engulfing.

12:30noon:--Bearish nosedive.News of two Iranian warships en route to Syria through the Suez took the Dow to kamikaze.
1:30pm:--A technical rebound to MAV resistance line. The Egyptian body that operates the Suez Canal denied the minister’s claim, saying warships must get permission ahead of time and that no request had been made, the Associated Press and others reported.

2:30pm:--Bullish engulfing. Fed officials raised their 2011 growth forecast to a range of 3.4% to 3.9% from their previous estimate of 3% to 3.6%.

3:30pm:--Holding at bull pivot support.Doji star noted.

4:00pm:--Bearish harami.This is bad for the follow through.
Deals, earnings and U.S. data bolstered investors’ confidence in the economic recovery.

February's candlestick todate is a bullish inverted hammer.

Any geopolitical tension that might occur will result in some mild pullback and a good chance of opening up new position.

The overall scenerio is still bullish as there are growing list of proposed private-equity takeovers that will provide the impetus.