Courtesy of Investor Delight, here is the market report for the week ended Friday, February 6th, 2009:

The weekly market reports from FSDH, Investor Delight, Meristem Securities, and Forte Assets have also been combined into a single document for easier reading. Enjoy.

A turnover of 1.8 billion shares worth N8.71 billion in 34,863 deals was recorded last week, in contrast to a total of 1.2 billion shares valued at N6.6 billion exchanged the previous week in 29,319 deals. There were no transactions in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.

The Banking subsector was the most active during the week (measured by turnover volume), with 827.45 million shares worth N5.52 billion exchanged by investors in 18,156 deals. Volume in the Banking subsector was largely driven by activity in the shares of Oceanic Bank International Plc, Guaranty Trust Bank Plc and Intercontinental Bank Plc. Trading in the shares of the three banks account ed for 334.62 million shares, representing 40.6% of the subsector’s turnover.

The Insurance subsector, boosted by activity in the shares of Investment and Allied Assurance Plc and Goldlink Insurance Plc, followed on the week’s activity chart with a turnover of 401.0 million shares valued at N321.8 million in 3,712 deals.

Two weeks ago, the Banking subsector led on the activity chart and was followed by the Insurance subsector.

Price Movement
The All-Share Index rose by 9.2% to close on Friday at 23,817.83. The market capitalization of the 199 First -Tier equities closed higher at N5.33 trillion.

Sixty – Nine (69) stocks appreciated in price during the week, higher than the seven (7) in the preceding week. Five Banking, two Breweries stocks were among the Top 10 price gainers. Oando Plc led on the gainers’ table with a gain of N12.06 to close at N66.26 per share while Guinness Nigeria Plc followed with N4.80 to close at N75.00 per share.

Other price gainers in the Top 10 category include:
+ First Bank of Nigeria Plc – N3.95
+ Nigerian Breweries Plc – N3.51
+ Zenith Bank Plc – N3.31
+ PZ Cussons Nigeria Plc – N3.15
+ Dangote Sugar Refinery Plc – N2.75
+ Union Bank of Nigeria Plc – N2.65
+ United Bank for Africa Plc – N1.82
+ PlatinumHabib Bank Plc – N1.69

Thirty – Nine (39) stocks depreciated in price during the week, lower than the ninety (90) in the preceding week. Two Petroleum (Marketing) stocks occupied the Top positions on the losers’ table. African Petroleum Plc led, dropping by N49.20 to close at N216.13 per share while Total Nigeria Plc followed with a loss of N24.90 to close at N149.75 per share.

Other price losers in the Top 10 category include:
- Nestle Nigeria Plc – N23.73
- Mobil Oil Nigeria Plc – N14.94
- Chevron Oil Nigeria Plc – N11.46
- Julius Berger Nigeria Plc – N4.19
- Cadbury Nigeria Plc – N1.10
- UACN Plc – N1.02
- IHS Nigeria Plc – N0.77
- Longman Nigeria Plc – N0.72

Company News

1. UNIVERSITY PRESS PLC: Unaudited result for the third quarter ended 31st December 2008 shows Turnover of N1.2 billion, as against N747.02 million in the comparable period of 2007. Profit after tax stood at N210.7 million compared with N127.4 million in 2007.
2. AFRICAN PAINTS (NIG) PLC: Audited result for the year ended 30th June 2008 shows Turnover of N20.2 million as against N29.95 million in 2007. Loss after tax stood at N30.14 million compared with N8.21 million in 2007.
3. INTERCONTINENTAL WAPIC INSURANCE PLC: Unaudited result for the third quarter ended 30th September 2008 shows Gross Premium of N5.2 billion, as against N3.3 billion in the comparable period of 2007. Profit after tax stood at N722.72 million compared with N668.9 million in 2007.

Company Forecasts

1. UACN PROPERTY DEVELOPMENT CO. PLC: The Company forecasts Turnover of N3.4 billion and profit after tax of N456.21 million during the first quarter ending March 31, 2009.
2. TRIPPLE GEE & CO PLC: The Company forecasts Turnover of N213.1 million and profit after tax of N21.02 million during the fourth quarter ending March 31, 2009.

Report on the OTC Market dor FGN Bonds
A turnover of 164.84 million units worth N168.3 billion in 1,131 deals was recorded this week, in contrast to a total of 240.51 million units valued at N244.95 billion exchanged in 1,413 deals during the week ended Thursday, January 29, 2009. The most active bond (measured by turnover volume) was the 5th FGN Bond 2018 Series 2 with a traded volume of 19.95 million units valued at N19.6 billion in 160 deals. This was followed by the 3rd FGN Bond 2011 Series13 with a traded volume of 18.4 million units valued at N21.2 billion in 184 deals. Twenty – Three (23) of the available thirty – nine (39) FGN Bonds were traded during the week compared to thirty – three (33) in the preceding week.