• Nigeria - 5 YEAR TREASURY BOND
  • Issue No:17-06-2020 5YEAR
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Market sentiment was positive with 28 gainers in contrast with 24 losers [Reuters/Akintunde Akinleye] Reuters Trading on the nation’s bourse resumed on Monday on a positive note, following investors’ interest in shares of Zenith Bank, International Breweries (IB) and Flourmill.

Specifically, the All-Share Index rose by 30.56 points or 0.08 per cent to close at 40,150.78 from 40,120.22 on Friday.

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Similarly, the market capitalisation improved by N16 billion or 0.08 per cent to close at N20.994 trillion compared with N20.978 trillion on Friday.

The uptrend was also driven by price appreciation in medium and large capitalised stocks amongst which are Ardova, Presco, Flour Mills, Berger Paints and Okomu Oil.

Analysts at Afrinvest Ltd. had anticipated bargain hunting activities would dominate trading this week.

Also, GTI Securities Ltd. said, "We expect to see moderate investors’ reaction this week amid the low investment return in the fixed income segment of the capital market."

Consequently, market sentiment was positive with 28 gainers in contrast with 24 losers.

Ardova and May and Baker led the gainers’ chart in percentage terms, gaining 9.79 per cent each to close at N17.95 and N3.59 per share, respectively.

Berger Paints followed with 9.52 per cent to close at N8.05 per share.

Japaul Gold and Ventures rose by 9.28 per cent to close at N1.06, while Royal Exchange appreciated by 8.70 per cent to close at 25k.Conversely, Cutix dominated the losers’ chart in percentage terms, losing 10 per cent to close at N2.16 per share.BOC Gases trailed with 9.96 per cent to close at N11.39, while Caverton Offshore Support Group shed 7.07 per cent to close at N1.84 per share.Linkage Assurance shed 4.69 per cent to close at 61k, while Deap Capital Management & Trust depreciated by 4.55 per cent to close at 21k per share.The total volume of shares traded increased marginally by 0.72 per cent as investors bought and sold 335.69 million shares valued at N2.49 billion in 5,338 deals.This was in contrast with 333.31 million shares worth N3.65 billion traded in 5,142 deals on Friday.Transactions in the shares of Mutual Benefits Assurance topped the activity chart with 104.16 million shares valued at N31.04 million.AXA Mansard Insurance followed with 26.34 million shares worth N30.44 million, while Lafarge Africa traded 14.38 million shares valued at N320.54 million.Fidelity Bank sold 13.38 million shares worth N36.06 million, while Zenith Bank transacted 13.36 million shares worth N344.69 million.

Johnson Okafor

The equity market, on Monday, returned to positive territory as the Nigerian Stock Exchange All-Share Index and market capitalisation rose by 0.08 per cent.

The market breadth closed on a positive note with 28 gainers against 24 decliners.

The ASI grew by 30.56 basis points or 0.08 per cent from 40,120.22bps last Friday to 40,150.78bps on Monday while the market capitalisation of equities appreciated by N16bn to close at N20.99tn from N20.98tn.

On the activity chart, the insurance subsector dominated in volume terms with 153.12 million shares exchanged in 373 deals. The subsector was enhanced by the activities in the shares of Mutual Benefits Assurance Plc and AXA Mansard Insurance Plc.

The premium subsector was boosted by the activities in the shares of Zenith Bank Plc and Lafarge Africa Plc, with 57.07 million units traded in 1,603 deals.

In all, investors exchanged a total of 335.69 million shares exchanged in 5,338 deals on Monday.

Further analysis of the day’s trading showed that ARDOVA Plc and May & Baker Plc led the gainers with 9.79 per cent each to close at N17.95 and N3.59 per share respectively.

Berger Paints Plc followed with 9.52 per cent to close at N8.05 per share while Japaul Gold Plc appreciated by 9.28 per cent to close at N1.06 per share.

On the other hand, Cutix Plc led the losers’ chart with a drop of 10 per cent to close at N2.16 per share.

BOC Gases Plc followed with a loss of 9.96 per cent to close at N11.59 per share while Caverton Plc dropped by 7.07 per cent to close at N1.84 per share. Copyright PUNCH. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Johnson Okafor

The Nigerian equity market, on Thursday, sustained its positive outlook for the third trading session as the All-Share Index and the market capitalisation rose further by 0.11 per cent.

The market breadth closed positive as the number of gainers at the close of trading session was 32 while decliners were 16.

The ASI gained 45.1 basis points or 0.11 per cent to close at 40,341,05 as against 40,296.95 recorded the previous day while the market capitalisation of equities appreciated by N24bn to close at N21.09tn from N21.07tn as market sentiment remained on the green zone.

Meanwhile, a turnover of 468.34 million shares exchanged in 5,702 deals was recorded in the day’s trading.

The insurance sub-sector was the most active (measured by turnover volume); with 152.09 million shares exchanged by investors in 436 deals.

Volume in the subsector was largely driven by activities in the shares of Lasaco Assurance Plc and Sovereign Trust Insurance Plc.

The premium subsector boosted by activities in the shares of UBA Plc and Zenith Bank Plc followed with a turnover of 132.61 million shares in 1,689 deals.

Academy Press Plc, Sovereign Trust Insurance Plc and Veritas Kapital Insurance Plc led the gainers’ table with a gain of 10 per cent each to close at 33 kobo, 22 kobo and 22kobo per share respectively.

BOC Gases Plc followed with a gain of 9.92 per cent to close at N12.52 per share while Champion Breweries Plc added 9.80 per cent to close at N1.12 per share.

On the other hand, Challaram Nigeria Plc led the price losers’ table, dropping 9.96 per cent to close at N2.26 kobo per share. Livestock Feeds Plc followed with 9.74 per cent to close at N1.76 per share while CHI Plc recorded a loss of 8.82 per cent to close at 31 kobo per share. Copyright PUNCH. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Nigerian Stock Exchange Stock Investors Gain N375bn As Market Cap Hits N20.28trn

Transactions in the equities market, on Wednesday, sustained bullish rally as the Nigerian Stock Market All-Share Index appreciated by 2.40 per cent.

The market breadth closed positive with 26 gainers against seven losers.

The ASI grew by 910.13 basis points from 37,893.61 index points the previous day to 38.803.74 while the market capitalisation of equities appreciated by N475bn to close at N20.28tn from N19.81tn.

On the activity chart, the premium subsector dominated in volume terms with 1.13 billion shares exchanged in 1,728 deals. The subsector was enhanced by the activities in the shares of Zenith Bank Plc and Access Bank Plc.

The insurance subsector was boosted by the activities on the shares of Veritas Kapital Plc and AXA-Mansard Plc followed with 155.96m units traded in 287 deals.

In all, investors exchanged a total of 1.497 million shares in 4,319 deals.

Further analysis of the day’s trading showed that ABC Transport Nigeria Plc and Japaul Gold Plc led the gainers chart with 10 per cent each to close at 33 kobo and 44 kobo per share respectively.

Airtel Africa Plc followed with 9.99 per cent to close at N851.80 per share while Eterna Plc rose by 9.98 per cent to close at N4.96 per share.

On the other hand, FCMB Plc led the losers’ chart with a drop of 3.97 per cent to close at N2.90 per share.

PZ Cussons Plc followed with a loss of 3.64 per cent to close at N5.30 per share while Lasaco Assurance Plc dropped by 3.13 per cent to close at 31 kobo per share.

(Alliance News) – Commercial lending firm Vector Capital PLC on Monday outlined plans for a GBP3.1 million initial public offering on London’s junior AIM market.

Vector, which provides secured loans to businesses based in the UK, said it plans to raise the cash through a placing of 8.1 million shares at 38 pence each.

Admission is expected to take place on December 29 and Vector targets a market capitalisation of GBP16.0 million.

"The proceeds of the placing will be used by the company to further grow its loan book and for general working capital purposes," the company said.

It added that Allenby Capital is acting as both nomad and broker.

Vector also hailed its "track record of paying dividends".

"The company paid a dividend of GBP699,000 in respect of the full year ended December 31, 2019 and in October 2020 declared and paid an interim dividend of GBP400,000 in respect of the year ending December 31, 2020," the company explained.

"It is anticipated that the company will pay a dividend bi-annually, and that the first dividend post-admission will be the final dividend for the current financial year ending December 31, 2020 and will be declared following publication of the annual results."

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

[files] Nigerian Stock Exchange (NSE). Photo: THEAFRICAREPORT The local bourse ended the first trading week of 2021 on a bearish note, as losses recorded on the second and last trading days eroded gains from the other trading sessions. The All-Share Index (ASI) and market capitalisation depreciated by 0.37 per cent to close the week at 40,120.22 and N20.978 trillion respectively.

However, all other indices finished higher with the exception of Nigerian Stock Exchange (NSE) Premium, NSE Lotus II and NSE industrial goods which depreciated by 2.99 per cent, 1.22 per cent and 2.29 per cent respectively while the NSE ASeM and NSE Growth Indices closed flat.

However, analysts expressed optimism that positioning for the full year 2020 dividends would continue to support positive sentiment amid negative real returns in the fixed income market.

Analysts at Vertiva Dealing and Brokerage firms said: “In spite of the dominance of the bulls for most of the sessions during the week (evidenced by gains in three of the five trading sessions, and bullish sectroral performances), the index ended the week lower amidst significant declines in the Industrial goods sector.

“We expect a recovery in the coming week, as the current price drop in the Industrial goods sector is expected to drive some buying interest in that region. Also, we anticipate some more positive patronage in the oil and gas sector as we continue to see improvement in the prices of crude oil,” they said.

Analysts at Codros Capital said: “We do not rule out intermittent profit-taking. However, we advise investors to take positions in only fundamentally justified stocks as the weak macro environment remains a significant headwind for corporate earnings.”

A look at the market performance last week showed that transactions on the equity sector of the NSE reopened the year on a positive note on Monday, as market capitalisation appreciated by N458 billion.

At the close of trading, ASI increased by 876.67 absolute points, representing a growth of 2.18 per cent to close at 41,147.39 points. Similarly, the market capitalisation gained N458 billion to close at N21.515 trillion.

The positive performance was triggered by gains recorded in medium and large capitalised stocks, including BUA Cement, Lafarge Africa, Guaranty Trust Bank, Flour Mills of Nigeria and Dangote Sugar Refinery.

Following renewed profit-taking, the stock market reversed gains to close on a downturn on Tuesday, as the ASI depreciated 1.83 per cent. On Tuesday, the ASI declined by 751.25 absolute points, representing a […]

The Nigerian Stock Exchange Industrial Index appreciated by 2.84% during the week to close at 57.03 index points higher, as shares of Dangote Cement, Lafarge, WAPCO dragged the index to close the second week of 2021 higher, amid renewed buying interest by local investors.

Checks by Nairametrics revealed that the NSE Industrial index, as of close of trading activities on Friday, stood at 2,062.29 index points from 2,005.26 index points at the open of trade on Monday 11th January 2021. What you should know

The NSE Industrial Index was designed to provide an investable benchmark to capture the performance of the Industrial Sector. It comprises the most capitalized and liquid companies in the industrial sector and is based on the market capitalization methodology.

The index monitors the performance of ten industrial companies on the Nigerian Stock Exchange which includes, Dangote, BUA and Chemical Allied Products.

Consequently, the performance of the companies was relatively balanced as the index closed on a positive note with 5 gainers relative to 5 losers. MEYER (+10.00%) led the gainer’s chart for the week, while CUTIX (-8.75%) was the top loser.

Top Gainers

MEYER up 10.00% to close at N0.55

PORTPAINT up 9.84% to close N2.68

WAPCO up 6.73% to close at N23.80

CAP up 3.25% to close at N20.65

DANGCEM up 2.31% to close at N230.20 Top Losers CUTIX down 8.75% to close at N2.19NOTORE down 4.00% to close at N60.00BETAGLAS down 2.17% to close at N54.20BERGER down 1.36% to close at N7.25BUA CEMENT down 1.25% to close at N79.00

Wednes day, January 1 3 , 202 1 / 3:36 P M / By Comercio Partners Asset Mgt / Header Image Credit: Ken Research

Proshare Nigeria Pvt. Ltd.

Report Summary

The Macroeconomy Growth expectations for the Nigeria economy remains gloomy.

Headline inflation inched up further, on the back of an uptick in the food subindex.

The Naira depreciated at the l&E FX Window.

The Manufacturing PMI slipped back info the contractionary region.

The Financial Markets The equity market gained 50.05% in the fourth quarter of 2020.

The fixed income market reversed its bullish trend.

Our Expectation for the Coming Quarters GDP growth in 2021 is expected to be tepid.

We maintain a weak expectation on the trajectory of inflation as most drivers remain active. The equity market will remain shaped by the yield environment in the mid-term. New Strain Of Covid-19 Renews Concerns About The Pandemic COVID-19 cases remained high on both sides of the Atlantic, aggravated by a more contagious strain discovered in the UK that brought large swathes of the country back into full lockdown. In the US, cases, deaths, and hospitalization over the Christmas period surpassed record levels last seen in April. US states and cities put in place the most severe restrictions since spring.At the same time, the vaccine development has been encouraging. The UK became the first country in the western world to approve and distribute a vaccine early in December, the US followed a few weeks later and the EU started their roll-out by the end of December. Vaccination programs have given markets hope that economies could fully reopen in the coming spring.On the policy side, U.S. policy makers provided further fiscal support. The $900 billion fiscal stimulus package was signed into law by President Trump in late December. Also, the Federal Reserve announced that it will maintain asset purchases at current levels over the coming months until substantial progress has been seen on the employment front. The European Central Bank also scaled up its bond buying program.The last-minute BREXIT deal was good news for the UK and Europe, as major trade disruptions in early 2021 were averted. Earlier in the month, a 48-hour stand-off between the UK and France amid the new COVID-19 strain discovered in the UK led to a major freight and passenger disruption.Back in Nigeria, the major headlines surfaced in the last week of the year, […]

Shares of Flour Mills Nigeria Plc, Nigeria’s leading food business company, have gained N28 billion on the Nigeria Stock Exchange, in just 10 trading days this year.

After a preview of the performance of the shares of Flour Mills, Nairametrics discovered its shares increased by 26.15% within the review period.

The increase witnessed in the company’s share price was triggered by renewed buying interests among investors for the shares of Flour Mills, on the back of its robust fundamental strength, and the impressive financial results the food and agro-allied company delivered in 2020.

Checks by Nairametrics also revealed that the company has gained N27,882,581,314.00 on the NSE so far this year. This is logical as the buying interest in the shares of the company saw the market capitalization increase from N106.61billion on the 4 January 2021, to N134.49billion at the close of trade on the exchange today. What you should know

The impressive valuation and the current price of the company, which some investors see as under priced given the solid fundamental strength of the company, spiked buying interest in its shares.

Former GMD of Flour Mills, Paul Miyonmide and the Vice-Chairman of the Company, Chief Emmanuel Ukpabi , acquired additional shares of the company worth millions of naira since the company released its Q2 Financial Report on 27 October 2020.

Dangote Cement Plc has bought back 40.2 million shares for N9.77 billion during the first tranche of its share buyback programme. The company said in a statement that the first tranche of the share buyback programme commenced on December 30, 2020 and ended on December 31, 2020, on the open market of the Nigerian Stock Exchange.

According to the company, it purchased 40,200,000 ordinary shares of the company at an average price of N243.02, representing 0.24 per cent of the issued and fully paid ordinary shares.

When the company last December announced the commencement of the programme, it had targeted to buy 85.203 million shares under the tranche 1. However, only 40.2 million was purchased.

“Following the conclusion of Tranche I, the total number of residual issued and fully paid outstanding shares of DCP amounts to 17,000,307,404. However, the completion of the share buyback programme of the company does not portend any material impact on the company’s financial position, and the operation of the company as a going concern,” it said.

Dangote Cement had explained that the share buyback programme was intended to increase long-term shareholder value, improve its balance sheet efficiency and enhance earnings and yields to its various shareholders.

Market analyst said with a reduced shares of 17,000,307,404 and expected improved earnings, shareholders would receive higher dividend per share going forward.

The Chief Financial Officer of Dangote Cement, Mr. Guillaume Moyen, had last year said the company had grown the wealth of its shareholders by paying over N1 trillion as dividends in the past seven years.

According to him, the company paid N51.1 billion in 2013; N119.3 billion in 2014, N102.2 billion in 2015, N136.3 billion in 2016, N144.8 billion in 2017, N178.9 billion in 2018 and N272.6 billion in 2019.

He said: “We have paid over N1 trillion in dividends to shareholders in the last seven years. As Africa’s largest cement manufacturer, we will continue to prioritise giving value to investors and other stakeholders.”

The Group Chief Executive Officer, Dangote Cement, Michel Puchercos, had explained that with the world facing economic recession and downturn, Dangote Cement was fortunate enough to have had a decent start to 2020 year as reflected in its financial results
“We are fortunate to have resilient first half (H1) 2020 results amidst impact of COVID-19. Cement is an essential building material with no viable substitutes and the global cement industry continues to grow, driven by urbanisation, population growth, housing growth, industrialisation, […]