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In: News|weekly report
17 Dec 2010I know… I know… This is a week late.
Courtesy of Afrinvest, FSDH, IBTC, and Lead Capital, here are the stats for the NSE for the week ended December 10th, 2010:
+ The week under review was bearish, as the NSE All-Share Index lost 146 bps.
+ Despite the bearish activities experienced in the market throughout the week, the banking sub sector managed to record marginal appreciation, on the share prices of some stocks that traded actively during the week. The likes of Union Bank, Oceanic Bank, Ecobank and Intercontinental Bank recorded gains below 3.0%, while GTBank gained 6.3% to close the week. Top losers in the sector were Afribank, Finbank & Zenith Bank with losses of 12.2%, 12.1% and 7.5% respectively. Other losers included Ecobank, Skye Bank, Fidelity Bank, Diamond Bank and Unity Bank amongst others that lost between 1.0% and 6.4%.
+ In the breweries sector, Guinness recorded the lone gain of 1.8%, while NB shed 2.5% as International Breweries closed flat.
+ In the building materials sector, CCNN went southwards losing 3.9%, while Ashaka Cement lost 4.2%. Dangote Cement on the other hand recorded a marginal points gain.
In: News|weekly report
8 Dec 2010Courtesy of Lead Capital, FSDH, Afrinvest, and IBTC, here is the NSE report for the week ended December 3rd 2010:
· The NSE All-Share Index went up by 79 basis points, ending the week on a positive note despite the downward movement recorded in the index today.
· The banking sub-sector traded mostly sideways this week, however, Access Bank led the gainers’ list by 5.0%. Other gainers include Ecobank, GTBank, Sterling Bank and Afribank with gains between 2.7% and 3.3%. Skye Bank, Zenith Bank and UBA also recorded gains between 0.9% and 1.4%. On the flip side, the rescued banks topped the losers’ list in the sector. Unity Bank, Wema Bank, Union Bank and FinBank shed between 5.0% and 9.0%, largely due to profit taking activities by participants.
· The building materials sector experienced low trading activities throughout the week. It however picked up slightly on the last trading day. Ashaka Cement recorded an 8.8% uptick, followed closely by Dangote Cement with 2.0%. Lafarge Wapco also recorded a 1.2% gain. CCNN was however the lone loser in the sector, shedding 3.2% to close the week.
· All the three stocks that traded in the breweries sector recorded varied gains this week; Guinness, NB and International Breweries gathered gains in excess of 4.0%.
And here are the charts for the week’s performance:
<a href=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_stats1.bmp”><img title=”nse_stats” src=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_stats1.bmp” alt=”" /></a>
<a href=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_stats_more.bmp”><img title=”nse_stats_more” src=”http://www.naijalowa.com/wp-content/uploads/2010/12/nse_stats_more.bmp” alt=”" width=”482″ height=”532″ /></a>
And here are the results:
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And here are the reports from the stockbrokers:
NSE Weekly Report - Afrinvest - Dec 3rd 2010 (166).
NSE Weekly Report - Afrinvest - Dec 3rd 2010 - Weekly Update (163).
NSE Weekly Report - FSDH - Dec 3rd 2010 (220).
NSE Weekly Report - IBTC - Dec 3rd 2010 (202).
NSE Weekly Report - Lead Capital - Dec 3rd 2010 (159)Courtesy of FSDH, Lead Capital, IBTC, and Afrinvest, here are the weekly NSE reports for the week ended Friday, November 26th 2010:
+ Most of the stocks of the rescued banks were bullish during today’s trading session, as participants continued to review their prices upward until they peaked at the maximum prices for the day. Oceanic Bank bagged maximum points, while other rescued banks gathered points in excess of 4.0% apiece. Zenith Bank and First Bank managed to record marginal points, while some stocks in the sector failed to delight participants; subsequently the likes of GTBank and UBA shed 1.1% and 1.3% respectively.
+ In the food and beverages sector, Dangote Sugar, Nascon, Nestle and Dangote Flour recorded gains ranging from 0.4% to 2.1%. Other stocks in the sector traded sideways.
+ The building and materials sector ended the week on a quiet note as participants were unwilling to review their prices upward. Ashaka Cement, despite the lull in the sector, recorded a 1.3% gain. Other stocks that traded in the sector remained unchanged.
Find below, a summary of the activities for the week ended today:
+ There was a lull in market activity this week, as the NSE All-Share Index shed 140bps cumulatively.
+ Profit taking shaved off varied points from the rescued banks’ stocks; Finbank, Intercontinental Bank, Wema Bank and Oceanic Bank all shed between 10.5% to 14.0%. However, the rescued bank stocks began rallying today and traded at the highest end of the market while closing with robust bids. GTBank and UBA also shed 2.8% and 6.4% respectively. On the flip side, Skye Bank, Ecobank, Spring Bank, Afribank and Fidelity Bank all gained points between 1.6% and 5.3%. No gains were recorded by the top tier banks this week.
+ Most stocks in the building materials sector traded sideways; however Lafarge Wapco gained 1.3%, while Ashaka Cement recorded a marginal loss.
+ In the breweries sector, all three traded stocks lost varied points; as institutional sales suppressed the share prices of NB, Guinness and International Breweries with losses of 1.2%, 9.6% and 13.6% respectively.
The Monetary Policy Committee of the Central Bank of Nigeria held their regular meeting on November 22nd and 23rd. The key decisions were:
1. To Retain the Monetary policy Rate (MPR) at 6.25 per cent.
2. To adjust the corridor to +/- 200 basis points, implying Standing Lending Facility (SLF) rate of 8.25 per cent, and Standing Deposit Facility (SDF) rate of 4.25 per cent.
3. Maintain the policy stance of a stable exchange rate.
4. Continue to monitor inflationary trends with a view to taking appropriate steps as and when necessary.
5. On the stance of monetary policy in the year ahead, the Committee reaffirmed that monetary policy would seek to exert pressure on aggregate demand, thereby helping to lower inflation expectations.
The report is below:
Courtesy of Proshare, FSDH, IBTC and Lead Capital, here is the summary of the market activities as well as the charts for the week.
In: News
22 Nov 2010Here are the press releases and presentations from First Bank and Unity Bank for their Q3 Results. First Bank: . Unity Bank: .
In: News
22 Nov 2010B.J. Rewane’s Monthly Economic News and Views presentation given monthly during the Lagos Business School’s monthly breakfast meeting is undoubtedly one of the most comprehensive and informative analysis of the Nigerian economy. His November presentation is no different. Happy reading!
In: News
22 Nov 2010Courtesy of Afrinvest, FSDH, and Vetiva, here are the analyses of the recently results of Mobil, Custodian and Allied Insurance, GT Bank, Nigerian Breweries, Ashaka Cement, Total, Cement Company of Northern Nigeria, and Glaxo Consumer Nigeria:
Company Report - Afrinvest - Ashaka Cement PLC Q3 2010 Earnings (461).
Company Report - FSDH - GTBank -Q3, 2010 (93).
Company Report - FSDH - Nigerian Breweries - Q3 2010 Results (104).
Company Report - Vetiva - Total Nigeria Q3 2010 Earnings Release (228).
Company Report - Vetiva Research - Cement Company of Northern Nigeria - Q3 2010 (170).
Company Report - Vetiva Research - Custodian and Allied Insurance Plc Q3 2010 Earnings Release (275).
Company Report - Vetiva Research - Glaxo Consumer Nig Plc Q3 2010 Earnings Release (276).
Company Report - Vetiva Research - Mobil Oil Nigeria - Q3 2010 (531).
FSDH - Result Analysis - Nestle Nigeria Plc Q3 2010 (116)
Courtesy of FSDH, Stanbic IBTC, and Lead Capital, here is the summary of the NSE for the week ended November 12th 2010 as well the market reports:
+ The NSE All-Share Index gained 229 bps cumulatively this week.
+ Bullish activities were very prominent in most of the rescued banks’ stocks this week; this is due partly to the announcement in respect of AMCON modalities to be released in the coming week. As a result the likes of FinBank, Wema Bank, Oceanic Bank, Union Bank and Bank PHB all recorded gains between 14.5% & 21.0%. However, the top tier banks were not left out in the bullish activities, First Bank appreciated by 5.6%, Zenith Bank 9.0% and UBA 9.5%, while GTBank closed the week unchanged.
+ In the food and beverages sector, bearish sentiments dominated proceedings this week, this translated to losses of more than 2.0% for Cadbury, NBC and Flour Mills. On the flip side, Nascon, Dangote Sugar and Dangote Flour recorded gains of between 1.7% and 6.0%.
+ Activities in the insurance sub sector improved slightly this week and this led to price appreciation for some of the stocks in the sector; Niger Insurance gathered 22.8%, and this was followed by Law Union & Rock with a 7.4% gain, while Cornerstone inched up by 4.0%. On the other hand, Custodian & Allied, Prestige and NEM all shed above 4.0% each.
Proshare has been doing a consistently good job of preparing a detailed review and analysis of the NSE every month. Here is their report for the month of October. It has a detailed breakdown of the NSE activity for the month as well as the company results reported during the month.
NSE Monthly Report - Proshare NG - October 2010 (144)And here are the official NSE reports for the month of September and October 2010
NSE Monthly Report - Sept 2010 (151).
NSE Activity Report For October 2010 (200)FSDH has also released the Economic and Financial Review for Q3 2010 and their outlook for Q4. It is a very thorough and detailed report. Please take time to read it. It is worth the time.
FSDH - Quarterly Economic Review - Q3 2010 (1011)· In the banking sector; last minute sales of over 10m units of Oceanic Bank shares by some participants could be an indicator that the bullish run on the stock might be coming to an end soon as participants seek to lock in gains, other fringe players remained bullish however with robust unsatisfied bids at the close of the session. On the flip side market forces sent Access Bank, Stanbic IBTC, Diamond Bank, GTBank and UBA southwards today, while Zenith Bank inched up by marginal points.
· In the building materials sector, the bears continued to hold sway over Dangote Cement, trading fully on offer throughout proceedings. Ashaka Cement and CCNN were not divergent to this trend shedding 0.7% and 3.5% respectively. Lafarge Wapco however, bagged marginal points.
· In other sectors, an upward review of prices at the last quarter of the session led to a marginal gain for NB, on the flip side International Breweries shed full points with active demand at the lowest price for the day.
Find below, a summary of the activities for the week ended today:
· The NSE All-Share Index shed 97 basis points this week, the market was relatively quiet and price volatility for most stocks was minimal.
· In the banking sector aside distressed banks, most companies traded around current support levels, with sustained demand matching offers leading to marginal gains and losses. FCMB and Zenith Bank were up by 10.1% and 4.0% respectively, while Skye Bank, UBA and First Bank lost 0.7%, 4.4% and 2.6% respectively. Sellers holding back on offers for distressed banks continued this week, subsequently top gainers in the sector were Bank PHB, Afribank, Oceanic Bank, Intercontinental Bank, Unity Bank and Wema Bank with gains in excess of 25.0% apiece.
· The breweries sector did not diverge from the current trend, bids for NB were at the lower end of the market for most of the week, an upward review on Friday however led to a 1.2% appreciation in its share price, the current support level however appears to be N76, Guinness also traded around the N180 price band for most of the session this week.
· Bearish sentiments dominated the building materials sector this week, with only Lafarge Wapco diverging from this trend, as robust bids at the N40 mark curbed any price slide. Dangote Cement lost 5.0% as investors seeking exits outweighed current demand in the market. CCNN and Ashaka Cement were also not spared shedding 8.1% and 3.5% respectively.
Courtesy of Afrinvest, FSDH, Lead Capital, and IBTC, here is the NSE weekly report for the week ended October 29th 2010:
Gains in the banking sector were skewed to low priced and mid-tier banks. On the up-tick were Oceanic Bank, Bank PHB, Sterling Bank and FCMB, all booking gains in excess of 4.0% apiece. The Q3 results released by Oceanic Bank lent further support to the rally on the stock with sellers holding back on offers. On the flip side, top-tier banks Zenith Bank, UBA and GTBank headed southwards, as selling pressure shaved off 3.2%, 0.6% and 0.8% from their respective share values. GTBank appeared to trade at a support level of N17.00 but with the possibility of inching marginally lower in coming sessions next week. Sentiments in the market also suggest that Zenith Bank could shed more points in coming sessions next week, as demand for it was strong at the lower end of the market.
In the food and beverages sector, an upward review of prices in response to the robust demand for Flour Mills led to a 2.7% mark-up. Also on the up-tick were NBC, Tantalizers and Dangote Flour, inching up with gains of 5.0%, 1.9% and 0.6% respectively. On the other hand, Dangote Sugar and Cadbury both shed over 2.8% apiece.
In other sectors, strategic trades resulted in Guinness trading over 5.0m units; this however did not translate to gains. NB was relatively quiet and shed marginal points of less than 1.0%.
The market witnessed a colossal listing of Dangote Cement stocks in the week under review inching up the market capitalization from 6tr to about 8tr. The NSE All-Share Index cumulatively gained 25bps this week.
The low priced stocks in the banking sub sector continued to sustained the unsatisfied bids throughout the week; Oceanic Bank topped the gainers’ list this week recording a 27.0% gain, followed closely by Afribank with 25.4%, while Intercontinental Bank, Wema Bank and FinBank gained between 20.0% and 22.0%. Institutional trades coupled with profit taking trimmed off varied points from First Bank, Zenith Bank and UBA; all shedding points between 1.0% and 7.0%.
There was an improved trading activity in the breweries sector this week, though the trades failed to translate to gains for both Guinness and NB which accounted for majority of the volumes traded in the sector. Guinness closed flat while NB shed 2.0%.
In food and beverages sector, Flour Mills rallied to top the sector with a 4.6% gain, while NBC, Cadbury, Nestle and Tantalizers gathered between 1.0% and 4.0% to close the week. On the flip side, Dangote Sugar and Honeywell Flour shed 0.5% and 3.8% respectively.
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