STOCK MARKET REPORT FOR THE WEEK ENDED FRIDAY, 2ND MAY 2008
STOCK MARKET REPORT FOR THE WEEK ENDED FRIDAY, 2ND MAY 2008
A turnover of 2.63 billion shares worth N47.6 billion in 66,373 deals was recorded this week, in contrast to a total of 2.6 billion shares valued at N48.3 billion exchanged last week in 80,499 deals. The Stock Market opened for four days as Thursday was declared as Public Holiday in commemoration of Workers Day.
There were no transactions in the Federal Government Development Stocks, State Government Bonds, and Industrial Loans/Preference Stocks sectors.
The Banking sub sector was the most active during the week (measured by turnover volume), with 1.35 billion shares worth N34.02 billion exchanged by investors in 30,882 deals. Volume in the Banking sub sector was largely driven by activity in the shares of FirstInland Bank Plc, United Bank for Africa Plc and Afribank Nigeria Plc. Trading in the shares of the three Banks accounted for 578.53 million shares, representing 43% of the subsector’s turnover.
The Insurance subsector, boosted by activity in the shares of Universal Insurance Co. Plc, followed on the week’s activity chart with a turnover of 714.2 million shares valued at N2.85 billion in 12,755 deals.
Last week, the Banking subsector led on the activity chart and was followed by the Insurance subsector.
Price Movement :
The All-Share Index dropped by 2.11% to close on Friday at 59,124.87. The market capitalization of the 203 First -Tier equities closed lower at N11.43 trillion.
Thirty-Five (35) stocks appreciated in price during the week, lower than the sixty (60) in the preceding week. Ecobank Transnational Incorporated led on the gainers’ table with a gain of N6.00 to close at N244.00 per share while Total Nigeria Plc followed with N4.35 to close at N239.95 per share. Other price gainers in the Top 10 category include:
• G Cappa Plc - N4.04
• Oando Plc - N3.00
• Nigerian Breweries Plc - N2.99
• Dangote Flour Mills Plc - N2.83
• Guinness Nigeria Plc - N2.57
• C & I Leasing Plc - N1.69
• Afribank Nigeria Plc - N1.55
• Nigerian Bag Manufacturing Co. Plc - N1.54
Eighty - Three (83) stocks depreciated in price during the week, lower than the eighty - nine (89) in the preceding week. Mobil Oil Nigeria Plc led on the price losers’ table, dropping by N51.77 to close at N248.21 per share while Lafarge WAPCO Plc followed with a loss of N11.68 to close at N51.32 per share. Other price losers in the Top 10 category include:
• Nestle Nigeria Plc - N8.00
• Ashaka Cement Plc . - N7.01
• Conoil Plc - N5.25
• Eterna Oil & Gas Plc - N4.73
• Nigerian Aviation Handling Co. Plc - N4.14
• PZ Cussons Nigeria Plc - N4.05
• Union Bank of Nigeria Plc - N3.75
• RT Briscoe (Nig) Plc - N3.74
The prices of six equities were adjusted for dividend and/or bonuses as recommended by the Board of Directors. Total Nigeria Plc was adjusted for final dividend of N6.40 per share. Mobil Oil Nigeria Plc was adjusted for dividend of N4.70 per share and bonus of 1 for 4. Trans-Nationwide Express Plc was adjusted for dividend of N0.10 per share. Nigerian Aviation Handling Company Plc was adjusted for dividend of N0.30 per share and bonus of 1 for 8. Airline Services & Logistics was adjusted for dividend of N0.05 per share. BOC Gases Plc was adjusted for dividend of N0.22 per share.
…Supplementary Listings
A total of 60,099,210 shares were added to the shares outstanding in the name of Mobil Oil Nigeria Plc following the bonus of 1 for 4. Also, a total of 109,375,000 shares were added to the shares outstanding in the name of Nigerian Aviation Handling Co. Plc following the bonus of 1 for 8.
Technical Suspension
This was imposed on Nigerian Wire Industries Plc on Monday, April 28, 2008 on receiving the Company’s application to undertake supplementary share offering.
COMPANY NEWS
ECOBANK TRANSNATIONAL INCORPORATED: Audited result for the year ended 31st December 2007. The Directors earlier recommended a dividend of 2 Cents per share. The date of closure of register of members is May 16, 2008 while payment date is June 6, 2008. The Annual General Meeting (AGM) of shareholders is scheduled to hold in Accra, Ghana on May 16, 2008.
ECOBANK NIGERIA PLC: Audited result for the year ended 31st December 2007 shows Gross Earnings of N32.71 billion as against N17.3 billion in 2006. Profit after tax stood at N7.45 billion compared with N3.6 billion in 2006. The Directors are recommending a dividend of N0.24 per share. The dates of closure of register of members and payment would be advised later.
STACO INSURANCE PLC : Audited result for the year ended 31st December 2007 shows Gross Premium of N2.81 billion as against N1.64 billion in 2006. Profit after tax stood at N758 million compared with N491.5 million in 2006. The Directors are recommending a dividend of N0.12 per share. The dates of closure of register of members and payment would be advised later
CONTINENTAL REINSURANCE PLC : Audited result for the year ended 31st December 2007 shows Gross Premium of N343.84 million as against N108.4 million in 2006. Profit after tax stood at N676.7 million compared with N135.8 million in 2006. The Directors are recommending a dividend of N0.05 per share. The date of closure of register of members is May 19, 2008 while payment date is June 5, 2008. The 21st Annual General Meeting (AGM) of
shareholders is scheduled to hold at Golden Gate Restaurant, Ikoyi, Lagos on May 22, 2008 by 11.00a.m.
LAFARGE WAPCO PLC : Unaudited result for the first quarter ended 31st March 2008 shows Turnover of N11.03 billion, as against N9.52 billion in the comparable period of 2007. Profit after tax stood at N1.95 billion compared with N2.64 billion in 2007.
UNILEVER NIGERIA PLC : Unaudited result for the first quarter ended 31st March 2008 shows Turnover of N9.7 billion, as against N8.3 billion in the comparable period of 2007. Profit after tax stood at N1.1 billion compared with N300 million in 2007.
R.T. BRISCOE (NIG) PLC : Unaudited result for the first quarter ended 31st March 2008 shows Turnover of N4.35 billion, as against N3.84 billion in the comparable period of 2007. Profit after tax stood at N181.94 million compared with N149.53 million in 2007.
NIGERIAN AVIATION HANDLING CO. PLC : Unaudited result for the first quarter ended 31st March 2008 shows Turnover of N1.22 billion, as against N852.74 million in the comparable period of 2007. Profit after tax stood at N208.6 million compared with N114.01 million in 2007.
CEMENT COMPANY OF NORTHERN NIGERIA PLC : Unaudited result for the first quarter ended 31st March 2008 shows Turnover of N2.2 billion, as against N2.53 billion in the comparable period of 2007. Profit after tax stood at N135.32 million compared with loss after tax of N18.3 million in 2007.
ETERNA OIL & GAS PLC : Audited result for the year ended 31st December 2007 shows Turnover of N4.91 billion as against N3.51 billion in 2006. Loss after tax stood at N135.5 million compared with profit after tax of N27.91 million in 2006. Directors are recommending a bonus of 1 for 5. The date of closure of register of members is May 28, 2008. The 18th Annual General Meeting (AGM) of shareholders is scheduled to hold at Eko Hotel & Suites, Victoria Island, Lagos on June 5, 2008 by 11.00a.m.
INTERNATIONAL BREWERIES PLC : Audited result for the year ended 31st December 2007 shows Turnover of N561.7 million as against N313.05 million in 2006. Loss before tax and exceptional items stood at N118.21 million compared with N361.4 million in 2006. The date of closure of register of members is May 2, 2008. The Annual General Meeting (AGM) of shareholders is scheduled to hold at Continental Hall, Raz Continental Hotel, Cadastral Zone, Abuja on May 23, 2008 by 11.00a.m. The Company is exempted from payment of taxation as the foreign equity interest exceeds 25 percent.
REPORT ON THE OTC MARKET FOR FGN BONDS
A turnover of 81.72 million units worth N83.8 billion in 705 deals was recorded this week, in contrast to a total of 115.2 million units valued at N118.34 billion exchanged in 927 deals during the week ended April 24, 2008. The most active bond (measured by turnover volume) was the 5th FGN Bond 2013 Series 1 with a traded volume of 22.8 million units valued at N23.03 billion in 183 deals.
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donne4real | May 6, 2008