Stock Price List for August 17, 2020
Dear Client/Reader,
Please find attached our Stock Price list for today, August 17, 2020.
Thank you.
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17
Aug
17
Aug
Daily Financial Market Report for August 17, 2020
Dear Client/Reader,
Equity Market Resumes New Week Bearish…ASI Dips By 27 Basis Points
The Nigerian Stock Exchange (NSE) retracts as the bears dominate proceedings in the market today. The benchmark All Share Index (ASI) waned by 0.27% to close at 25,132.67. Market Capitalization shed N29.30 billion to close at N13.12 trillion while the Year-to-Date (YtD) returns settled at -6.33%.
Sectors performance broadly bullish
Performance across sectors was broadly bullish as two sectors closed in the red zone. Insurance, Oil and Gas and Consumer Goods indices advanced by 2.89%, 0.49% and 0.23% respectively, on the back of buy interest recorded in the shares of Mansard (9.43%) and Cornerst (8.16%); Ardova (9.41%); Cadbury (4.70%) and Dangsugar (3.36%). Conversely, Industrial and Banking indices declined by 0.38% and 0.24% respectively, on the back of selloffs recorded in the shares of Dangcem (-0.74%); Access (-0.78%) and Guaranty (-0.20%).
NASD Market
The NASD market closed bullish after today’s trading activities as the Unlisted Securities Index (USI) advanced by 70 basis points to close at 718.43. Consequently, Market Capitalization also increased by 0.70% to close at N527.73 billion. Market activity measured by aggregate volume increased by 144.48% while value advanced by 438.22%. Investors traded a total of 25,670 units of shares valued at N7.18 million in 7 deals. Three securities traded on the NASD platform today and they are: NDEP Plc, WAMCO Plc and CSCS Plc.
Please find attached our Daily Financial Market update for today, August 17, 2020.
Thank you.
Click here for the daily financial market report.
17
Aug
Headline Inflation Increased by 12.82% in July 2020; 0.26% higher than June 2020 (12.56%) Rate
Dear Client/Reader,
The National Bureau of Statistics just reported that the consumer price index, (CPI) which measures inflation increased by 12.82% (year-on-year) in July 2020. This is 26 basis points higher than the rate recorded in June 2020 (12.56%).
The percentage change in the average composite CPI for the twelve months period ending July 2020 over the average of the CPI for the previous twelve months period was 12.05%, indicating 0.15 points increase from 11.90% recorded in June 2020.
Food Index Rose by 15.48%
Food index rose by 15.48% in July 2020. The average annual rate of change of the Food sub-index for the twelve-month period ending July 2020 over the previous twelve-month average was 14.63%, 0.17% points higher than the average annual rate of change recorded in June 2020 (14.46%). This rise in the food index was caused by increases in prices of Bread and cereals, Potatoes, yam and other tubers, Meat, Fruits, Oils and fats, and Fish. On a month-on-month basis, the food sub-index increased by 1.52% in July 2020, up by 0.04% points from 1.48% recorded in June 2020.
Core Index stood at 10.10%
Price movements recorded by the Core index stood at 10.10% (year -on-year) in July 2020, down by 3 basis points as against 10.13% recorded in June 2020. The highest increases were recorded in prices of Medical services, Passenger transport by air, Pharmaceutical products, Hospital services, Passenger transport by road, Maintenance and repair of personal transport equipment, Paramedical services and Vehicle spare parts. On a month-on-month basis, the core sub-index increased by 0.75% in July 2020, down by 0.11% points from 0.86% recorded in June 2020.
Urban Index increased by 13.40%
The Urban index increased by 13.40% (year-on-year) in July 2020 compared to 13.18% recorded in June 2020, while the Rural index increased by 12.28% (year -on-year) in July 2020 as against 11.99% in June 2020. On a month-on-month basis, the urban index rose by 1.27% in July 2020, up by 0.04% from 1.23% recorded in June 2020, while the rural index also rose by 1.23% in July 2020, up by 0.04% from the rate recorded in June 2020 (1.19%).
Regards,
17
Aug
Weekly Market Review & Stock Recommendations – August 17, 2020
Dear Client/Reader,
Global Economic Roundup
IEA Sees 2020 Oil Demand Down 8.1 Million Bpd
· The International Energy Agency expects crude oil demand this year to be 8.1 million bpd lower than it was in 2019, a downward demand forecast revision of 140,000 bpd, the authority said in its latest Oil Market Report.
U.S. retail sales slow in July; obstacles mount for nascent economic recovery
· U.S. retail sales increased less than expected in July as consumers cut back on purchases of motor vehicles, and could slow further in the months ahead amid spiraling new COVID-19 infections and a reduction in unemployment benefit checks.
Domestic Economic Roundup
Naira exchanges for 475/$ as forex scarcity persists
· The naira on Friday exchange to the dollar at 475/$ at the parallel market as foreign exchange scarcity persisted.
Nigeria’s unemployment rate 27.1% in Q2 –NBS
· More than a quarter of Nigeria’s workers were not in the labour force in the second quarter of this year, the National Bureau of Statistics said on Friday, in the country’s first unemployment data published since 2018.
Equities Market
The Nigerian Stock Exchange closed bullish last week as the ASI advanced by 0.63% week-on-week to close at 25,199.84 points.
The current low prices of stocks still provide good buying opportunities in the market. Some of our recommended stocks are mentioned below;
FBNH – FBNH Plc HY’2020 results showed an increase in the bottom-line as profit for the period grew by 23.84%. Interest income however declined by 4.31% from N216.76 bn in HY’2019 to N207.42 bn in the current period. Net interest income went down by 7.35% from N141.69 bn in HY’2019 to N131.28 bn in HY’2020, due to the drop in interest income and a 1.44% increase in interest expense. The company recorded a 14.70% increase in operating profit from N36.23 bn in HY’2019 to N41.55 bn in the current period. The increase in operating profit is attributable to a 16.41% and 183.05% increase in net fees and commission income and trading income, respectively. Also, impairment charges increased by 38.65% from N22.11 bn in HY’2019 to N30.65 bn in HY’2020. Profit before tax advanced by 14.26% from N36.25 bn in HY’2019 to N41.42 bn in the current period. Profit after tax went up by 23.84% from N28.78 bn in HY’2019 to N35.65 bn in the current period. Consequently, the company recorded a 60.71% increase in EPS to N1.35 in HY’2020 from N0.84 in HY’2019. FBNH has a BVPS of N19.62, P/BV of 0.25x and P/E ratio of 1.85x. FBNH is one the major companies that would support a forecasted 8.50 percent growth for the financial services sector, as FBNH is expected to leverage their highly diversified business model, to prop up their revenue from other sources, such as; their trading income and other income. This would enable them sustain their profitability even during this current pandemic. The company is poised to record the strongest growth margin of all tier one banks, with the PAT crossing the N80 billion mark, hence taking the EPS past N2.
WAPCO – Lafarge Africa Plc. HY’2020 results showed that revenue grew by 2.25% from N117.89 bn in HY’2019 to N120.54 bn in HY’2020. Similarly, gross profit went up by 5.70% to N41.71 bn in HY’2020 from N39.46 bn in HY’2019. The growth in gross profit was driven by the growth in revenue. Profit from operations rose by 17.81% from N27.85 bn in HY’2019 to N32.81 bn in HY’2020, due to an 30.64% and 9.93% decline in administrative expenses and selling and distribution expense, respectively. Profit before tax grew by 86.09% to N28.76 bn in HY’2020 from N15.45 bn in HY’2019, on the back of a 66.77% decline in finance cost. Profit after tax rose by 47.29% from N15.84 bn in HY’2019 to N23.33 bn in HY’2020, despite a 1,506% increase in taxes. Consequently, earnings per share increased by 158.93%, from N0.56 in HY’2019 to N1.45 in HY’2020. Wapco has a BVPS of N21.86, P/BV of 0.54x and P/E ratio of 4.05x. Wapco is expected to shield itself from the adverse impacts of the Covid-19 pandemic, as the company has been able to sustain their revenue during the lockdown by leveraging an organized price increase of their cement product to fill the shortfalls left by reduced demands. This aggressive revenue growth strategy has also been met with effective cost reduction tactics, both of which will support a full year growth similar to what was seen the first half of the year. Accordingly, we expect to see the PAT cross N28.00 billion, hence, taking the EPS above N10.00.
Please find attached our Weekly Market Review & Stock Recommendations for this week.
Thank you.
Click here for the full report.
14
Aug
Daily Financial Market Report for August 14, 2020
Dear Client/Reader,
Equity Market Closes Negative…ASI Dips By 15 Basis Points
The Nigerian Stock Exchange (NSE) retracts as the bears resurfaced in the market today. The benchmark All Share Index (ASI) waned by 0.15% to close at 25,199.84. Market Capitalization shed N19.37 billion to close at N13.15 trillion while the Year-to-Date (YtD) returns settled at -6.12%.
Sectors performance broadly bearish
Performance across sectors was broadly bearish as one sector closed in the green zone. Consumer Goods, Insurance and Banking indices declined by 0.68%, 0.55% and 0.19% respectively, on the back of selloffs recorded in the shares of Intbrew (-8.06%) and Cadbury (-3.87%); Aiico (-4.17%) and Wapic (-2.94%); Access (-1.54%) and Zenith (-0.30%). Conversely, Industrial index advanced by 0.24%, on the back of buy interest recorded in the share of Buacement (0.78%). However, Oil and Gas index closed flat.
NASD Market
The stock market closed positive this week. The nation’s bourse had bullish performance as it closed positive in two of the five trading sessions. The market recorded losses on the first, second and last trading days of the week (-0.06%, 0.58% and -0.15% respectively) and recorded gains on the third and fourth trading days of the week (1.04% and 0.38% respectively), due to buy interest in large and mid-cap stocks across Banking, Consumer Goods and Oil and Gas sectors. Overall, ASI advanced by 0.63% week-on-week, while the year-to-date returns settled at -6.12%.
Please find attached our Daily Financial Market update for today, August 14, 2020.
Thank you.
Click here for the daily financial market report.
14
Aug
Stock Price List for August 14, 2020
Dear Client/Reader,
Please find attached our Stock Price list for today, August 14, 2020.
Thank you.
Regards
Click here for the daily price list.
13
Aug
Daily Financial Market Report for August 13, 2020
Dear Client/Reader,
Bulls Maintain Dominance on Local Bourse…ASI Posts 0.38% Gain
The Nigerian Stock Exchange (NSE) sustained its uptrend as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated by 0.38% to close at 25,236.97. Market Capitalization gained N49.88 billion to close at N13.17 trillion while the Year-to-Date (YtD) returns settled at -5.98%.
Sectors performance significantly bullish
Performance across sectors was significantly bullish as one sector closed in the red zone. Insurance and Consumer Goods indices advanced by 2.16% and 1.46% respectively, on the back of gains recorded in the shares of Mansard (9.66%) and Chiplc 8.82%); NB (5.88%) and Flourmill (2.32%). Similarly, Oil and Gas and Banking indices increased by 0.31% and 0.03% respectively, each, on the back of buy interest recorded in the shares of Oando (3.336%); Fidelitybk (3.28%) and Access (1.56%). Conversely, Industrial index declined by 0.12% on the back of losses recorded in the shares of Wapco (-0.42%) and Buacement (-0.26%).
NASD Market
The NASD market closed flat after today’s trading activities as the Unlisted Securities Index (USI) settled at 713.39. Consequently, Market Capitalization remained unchanged as it closed at N524.04 billion. Market activity measured by aggregate volume increased by 418.65% while value advanced by 100.15%. Investors traded a total of 514,675 units of shares valued at N18.62 million in 6 deals. Two securities traded on the NASD platform today and they are: CSCS Plc and VFD Group Plc.
Please find attached our Daily Financial Market update for today, August 13, 2020.
Thank you.
Click here for the daily financial market report.
13
Aug
Stock Price List for August 13, 2020
Dear Client/Reader,
Please find attached our Stock Price list for today, August 13, 2020.
Thank you.
Regards
Click here for the daily price list.
12
Aug
Daily Financial Market Report for August 12, 2020
Dear Client/Reader,
Equity Halts Downtrend of Two Consecutive Days…ASI Posts 1.04% Gain
The Nigerian Stock Exchange (NSE) rebounds as the bulls resurfaced in the market today. The benchmark All Share Index (ASI) appreciated by 1.04% to close at 25,141.48. Market Capitalization gained N134.47 billion to close at N13.12 trillion while the Year-to-Date (YtD) returns settled at -6.34%.
Sectors performance broadly bullish
Performance across sectors was broadly bullish as two sectors closed in the red zone. Oil and Gas, Insurance and Consumer Goods indices advanced by 5.24%, 0.64% and 0.19% respectively, on the back of buy interest recorded in the shares of Seplat (10.00%) and Total (1.14%); Prestige (8.89%) and Aiico (6.67%); Cadbury (9.93%) and Guinness (6.21%). Conversely, Banking and Industrial indices declined by 0.36% and 0.26% respectively, on the back of selloffs recorded in the shares of Access (-2.29%) and Zenithbank (-0.59%); Buacement (-0.64%) and Wapco (-0.42%).
NASD Market
The NASD market closed bullish after today’s trading activities as the Unlisted Securities Index (USI) advanced by 34 basis points to close at 713.39. Consequently, Market Capitalization also increased by 0.34% to close at N524.04 billion. Market activity measured by aggregate volume increased by 65.60% while value declined by 33.54%. Investors traded a total of 88,485 units of shares valued at N9.30 million in 6 deals. Three securities traded on the NASD platform today and they are: CSCS Plc, NDEP Plc and Mixta Real Estate Plc.
Please find attached our Daily Financial Market update for today, August 12, 2020.
Thank you.
Click here for the daily financial market report.
12
Aug
Stock Price List for August 12, 2020
Dear Client/Reader,
Please find attached our Stock Price list for today, August 12, 2020.
Thank you.
Regards
Click here for the daily price list.
