Stock Price List for December 04, 2018
Dear Client/Reader,
Please find attached our Stock Price list for today, December 04, 2018
Thank you.
Regards,
04
Dec
03
Dec
Daily Financial Market Report for December 03, 2018
Dear Client/Reader,
Nigerian Bourse Begins The Month Bearish…as ASI Sheds 24 Bps.
The Nigerian equities market (NSE) opened the week in red as negative sentiments continued to dominate trading activities. The bench mark – All Share Index (ASI) declined by 0.24% and close at 30,798.76 points. Market Capitalization lost N27.5 billion to close at N11.24 trillion while the Year-to-Date (YtD) returns weakened to -19.47%.
Sectors performance was broadly bearish
Performance across sectors was broadly bearish save for the Oil & gas and Banking indices which appreciated by 2.07% and 0.61% respectively due to gains in Seplat (4.16%); Zenith (1.72%) and Guaranty (0.87%). On the flip side, the Insurance and Consumer goods indices recorded the largest losses as they declined by 4.51% and 0.72% respectively arising from sell offs in Continsure (-10.00%) and Mansard (-9.90%); NB (-2.22%) and Cadbury (-2.63%). Similarly, loss in Dangcem (-1.02%) contracted the Industrial (-0.03%) sector.
Market activity measured by aggregate volume improved slightly by 0.13% while value also advanced by 14%. Investors traded a total of 250 million units of shares valued at ₦2.72 billion in 3,122 deals.
NASD Market
The NASD market also closed bearish after today’s trading activities to open the month in red. The Unlisted Securities Index (USI) depreciated by 0.45% to close at 702.40 points. Market capitalization also lost 45 basis points to settle at N488.18 billion. Market activity measured by aggregate volume declined by 98% while value also decreased by 47%. Investors traded a total of 792,430 units of shares valued at N17.4 million in 11 deals.
Please find attached our daily market report for today, December 03, 2018.
Thank you.
03
Dec
Stock Price List for December 03, 2018
Dear Client/Reader,
Please find attached our Stock Price list for today, December 03, 2018
Thank you.
Regards,
03
Dec
Weekly Report and Stock Recommendation – December 03, 2018
Dear Client/Reader,
Global Economy
- Oil prices steadied on Friday as swelling inventories depressed sentiment despite widespread expectations that the Organization of the Petroleum Exporting Countries (OPEC) and Russia would agree some form of production cut as the two global oil benchmarks, North Sea Brent and U.S. crude, have had their weakest month for more than 10 years in November, losing 28 percent and 30 percent respectively as global supply has outstripped demand.
- Euro zone inflation slowed as expected in November, while core inflation readings were below market expectations, supporting European Central Bank policymakers who favour a cautious exit from monetary stimulus.
- Lending to British consumers slowed again last month to its weakest rate in more than three years, but there was a pick-up in the housing market with a jump in mortgage approvals, as reported by bank of England.
- Japanese manufacturing activity expanded at the slowest pace in two years in November and new orders contracted for the first time since September 2016, a preliminary survey showed, raising doubt about growth prospects for the current quarter.
U.S. – U.S. consumer spending increased by the most in seven months in October, but underlying price pressures slowed, with an inflation measure tracked by the Federal Reserve posting its smallest annual increase since February.
Equities Market- The Nigerian equities market again depreciated at the end of the week, as the ASI decreased by 2.54% w/w to close at 30,874.17 points, while the year-to-date returns settled at -19.27%.
The current low prices of stocks still provide good buying opportunities in the market. Some of our recommended stocks are mentioned below;
FCMB – FCMB Plc. results for 9M’2018 showed an impressive PBT growth of 121% y/y from N6.7 bn in 9M’17 to N14.8 bn. The key driver behind the PBT growth was the growth of 165% y/y in trading income and 152% improvement in other income on the back of massive gains in foreign exchange transactions that increased from N428 mn in 9M’17 to N9 bn in the current period, which were strong enough to offset the increase recorded in operating expense by 15% y/y. Non-interest income (NIR) also increased by 66% y/y to N37.5 bn (9M’17; N22.5 bn) while also noting a decline of 9% in interest expenses which reduced to N42.2 bn (9M’17; N46.4 bn). Consequently, Earnings per share spiked massively by 104% y/y from N0.28 in 9M’17 to N0.57 in the current period. FCMB has CAR of 17.4% higher than tier 2 minimum of 12.5%, BVPS of 9.04, P/BV of 0.14X, P/E of 2.54X against banking average of 1.01x and 3.04x. FCMB currently has an upside potential of about 70% from our estimated intrinsic value of N2.47, we therefore maintain our medium to long term “BUY” recommendation on the stock.
SEPLAT – Seplat 9M’2018 result showed revenue increased by 104% to N173bn as against N85bn in 9M’2017. The substantial rise in revenue was due to increase of 99% and 48% in crude oil and gas sales while Cost of sales also increased from N47 bn to N80 bn. Despite the rise in cost of sales, gross profit increased by 146% from N38 bn to N93.5 bn. The company maintained the top line impressive performance as PAT stands at N27.9bn as against N1.6bn loss in 9M’2017. With the recent renewal of its operating license coupled with continuous plan of the company to boost profitability and increase operation by drilling its first well in its OML 53 asset and to redeploy rigs into it other oil fields at OMLs 4, 38 and 41, we are of the view that Seplat will maintain its impressive performance for FY’2018. With the current price at its 52 week low of N589.50, we thereby place a medium to long term “BUY” on the stock of Seplat Plc with an estimated intrinsic value of N744.69.
Please find attached our Stock Recommendation for this week, ending 7th December, 2018.
Thank you.
30
Nov
Daily Financial Market Report for November 30, 2018
Dear Client/Reader,
Nigerian Bourse Halts Downtrend To End The Month In Green
The Nigerian equities market (NSE) rebounded to close the week in green as the bulls resurfaced in the market. The bench mark – All Share Index (ASI) appreciated by 0.86% to close at 32,058.28 points. Market Capitalization advanced by N96 billion to close at N11.27 trillion while the Year-to-Date (YtD) returns settled at -19.27%.
Sectors performance was broadly bullish
Performance across sectors was broadly bullish save for the Insurance index which depreciated by 0.71% due to sell offs in the shares of NEM (-2.08%) and Custodian (-7.55%). Conversely, the Banking and Oil & gas sector indices recorded the highest gains as they appreciated by 1.53% and 1.52% respectively due to positive sentiments in the shares of UBA (6.38%) and Zenith (0.87%); 11 Plc (9.38%) and Forte Oil (1.98%). Likewise, the Industrial and Consumer goods sectors also went up by 0.14% and 0.90% respectively due to gains recorded in Dangcem (1.03%); NB (4.03%) and Honyflour (1.85%).
Market activity measured by aggregate volume decreased by 44% while value went down by 46%. Investors traded a total of 249 million units of shares valued at ₦2.39 billion in 2,909 deals.
Market Synopsis for the week
Nigeria’s stock market recorded its third consecutive weekly loss as investors maintained their negative sentiments on market bellwethers. The nation’s bourse had a broadly bearish performance as it closed negative in four of the five trading sessions. However, gains recorded on the last trading day (+0.86%) on the back of bargain hunting in some high cap stocks in the Oil & gas and banking sectors moderated the massive losses recorded in other trading days. Overall, the All Share Index (ASI) depreciated by 2.54% week-on-week, while the year-to-date returns dipped further to -19.27%.
Please find attached our daily market report for today, November 30, 2018.
30
Nov
Stock Price List for November 30, 2018
Dear Client/Reader,
Please find attached our Stock Price list for today, November 30, 2018
Thank you.
Regards,
30
Nov
FCMB Plc 9M’ 2018- SURGE IN FOREIGN EXCHANGE GAINS PROPELS PAT
Dear Client/ Reader,
FCMB Plc. results for 9M 2018 showed an impressive PBT growth of 121% y/y from N6.7 bn in 9M’17 to N14.8 bn. The key driver behind the PBT growth was the growth of 165% y/y in trading income and 152% improvement in other income on the back of massive gains in foreign exchange transactions that increased from N428 mn in 9M’17 to N9 bn in the current period, which were strong enough to offset the increase recorded in operating expense by 15% y/y. Non-interest income (NIR) also increased by 66% y/y to N37.5 bn (9M’17; N22.5 bn) while also noting a decline of 9% in interest expenses which reduced to N42.2 bn (9M’17; N46.4 bn). Consequently, Earnings per share spiked massively by 104% y/y from N0.28 in 9M’17 to N0.57 in the current period.
Key Multiples/Ratios
Book Value Per Share- 9.04
Net Profit Margin- 8.54%
Return on Equity – 6.34%
Return on Asset- 0.88%
Price to book value- 0.14x
Total Loan to Total Deposit- 76.71%
Current Shares Outstanding- 19.8 Billion
Last closing price N1.32
RECOMMENDATION: BUY
Please find attached FCMB 9M’2018 result.
Regards.
29
Nov
Daily Financial Market Report for November 29, 2018
Dear Client/Reader,
The Bears Continue Dominance…as ASI Breaks 31,000 Support Level
The Nigerian equities market (NSE) extended its losses to five consecutive days as negative sentiments dominated trading activities. The bench mark – All Share Index (ASI) broke the 31,000 support level to decline by 1.33% and close at 30,611.55 points. Market Capitalization lost N150.38 billion to close at N11.18 trillion while the Year-to-Date (YtD) returns weakened to -19.96%.
Sectors performance was broadly bearish
Performance across sectors was broadly bearish save for the Insurance and Consumer goods indices which appreciated by 3.09% and 0.05% respectively due to gains in Continsure (6.95%) and Mansard (6.32%); NB (0.51%). On the flip side, the Industrial and banking indices recorded the largest losses as they declined by 2.14% and 1.79% respectively arising from sell offs in Dangcem (-2.63%) and Wapco (-2.25%); Guaranty (-3.65%) and Zenith (-1.08%). Similarly, loss in Oando (-1.08%) contracted the Oil & gas (-0.05%) sector.
Market activity measured by aggregate volume improved by 100% while value also advanced by 64%. Investors traded a total of 442 million units of shares valued at ₦4.46 billion in 3,648 deals.
NASD Market
The NASD market again closed bearish to lose 5.21% in two days, following the bearish path of the listed stocks. The Unlisted Securities Index (USI) depreciated by 2.67% to close at 698.00 points. Market capitalization also lost 2.67% to settle at N485.13 billion. Market activity measured by aggregate volume declined by 87% while value also decreased by 48%. Investors traded a total of 73,476 units of shares valued at N11 million in 7 deals.
Please find attached our daily market report for today, November 29, 2018.
29
Nov
Stock Price List for November 29, 2018
Dear Client/Reader,
Please find attached our Stock Price list for today, November 29, 2018
Thank you.
Regards,
28
Nov
Daily Financial Market Report for November 28, 2018
Dear Client/Reader,
Nigerian Bourse Continues Losing Streak…as ASI Sheds 48 Bps.
The Nigerian equities market (NSE) extended its losses to four consecutive days as negative sentiments dominated trading activities. The bench mark – All Share Index (ASI) declined by 0.48% to close at 31,023.47 points. Market Capitalization shed N54.83 billion to close at N11.33 trillion while the Year-to-Date (YtD) returns weakened to -18.88%.
Sectors performance was broadly bearish
Performance across sectors was broadly bearish save for the Insurance and Consumer goods indices which appreciated by 0.51% and 0.08% respectively due to gains in Continsure (10.00%); Flourmill (2.56%) and Cadbury (2.56%). On the other hand, the Oil & gas and Industrial indices recorded the largest losses as they declined by 0.79% and 0.42% respectively arising from sell offs in Oando (-6.06%) and Dangem (-1.55%). Similarly, losses in Zenith (-1.48%) and UBA (-2.00%) contracted the banking (-0.17%) sector.
Market activity measured by aggregate volume improved by 21% while value declined marginally by 1%. Investors traded a total of 220 million units of shares valued at ₦2.73 billion in 3,252 deals.
NASD Market
The NASD market reversed previous day gain to close bearish after today’s trading activities. The Unlisted Securities Index (USI) depreciated by 2.54% to close at 717.12 points. Market capitalization also lost 2.54% to settle at N498.42 billion. Market activity measured by aggregate volume advanced by 598% while value also went up by 94%. Investors traded a total of 570,200 units of shares valued at N21.17 million in 11 deals.
Please find attached our daily market report for today, November 28, 2018.
