Stock Report for the Week Ended, Friday, July 18th
A turnover of 3.4 billion shares worth N40.83 billion in 71,899 deals was recorded this week, in contrast to a total of 5.8 billion shares valued at N42.12 billion exchanged last week in 88,146 deals.
There were no transactions in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.
The Insurance subsector was the most active during the week (measured by turnover volume), with 1.50 billion shares worth N2.54 billion exchanged by investors in 11,362 deals. Volume in the Insurance subsector was largely driven by activity in the shares of Investment and Allied Assurance Plc. Trading in the shares of the Insurance Company accounted for 1.02 billion shares, representing 68.32% of the subsector’s turnover.
The Banking subsector, boosted by activity in the shares of First City Monument Bank Plc, First Bank of Nigeria Plc and Union Bank of Nigeria Plc, followed on the week’s activity chart with a turnover of 1.2 billion shares valued at N29.14 billion in 36,130 deals.
Last week, the Insurance subsector led on the activity chart and was followed by the Banking subsector.
Price Movement:
The All-Share Index dropped by 4.35% to close on Friday at 52,286.88. The market capitalization of the 209 First -Tier equities closed lower at N10.47 trillion.
Eighteen (18) stocks appreciated in price during the week, lower than the thirty-two (32) in the preceding week. Also, as in the preceding week, Mobil Oil Nigeria Plc led on the gainers’ table with a gain of N34.20 to close at N251.24 per share while Union Bank of Nigeria Plc followed with N6.06 to close at N42.00 per share. Other price gainers in the Top 10 category include:
• BOC Gases Plc - N3.42
• Chemical & Allied Products Plc - N2.70
• UACN Plc - N1.86
• Longman Nigeria Plc - N1.21
• Starcomms Plc - N0.92
• Nigerian-German Chemicals Plc - N0.92
• Afribank Nigeria Plc - N0.75
• Ferdinand Oil Mills Plc - N0.54
Ninety - One (91) stocks depreciated in price during the week, higher than the eighty-one (81) in the preceding week. Chevron Oil Nigeria Plc led on the price losers’ table, dropping by N36.27 to close at N335.73 per share while Flour Mills Nigeria Plc followed with a loss of N9.85 to close at N75.05 per share. Other price losers in the Top 10 category include:
• Guinness Nigeria Plc - N6.96
• Conoil Plc . - N4.99
• Ashaka Cement Plc - N4.92
• Lafarge WAPCO Plc - N4.30
• Costain (WA) Plc - N3.50
• Unilever Nigeria Plc - N3.10
• Stanbic IBTC Bank Plc - N3.08
• Nigerian Aviation Handling Co. Plc - N2.95
New Listing
The 6,878,478,096 shares in favour of Starcomms Plc were admitted to the Daily Official List at a price of N13.65 per share on Monday, July 14, 2008 by way of Introduction. The shares were listed in the newly created Telecommunications subsector. By this action, the number of listed companies and securities increased to 224 and 317, respectively.
Full Suspension
This was imposed on Cadbury Nigeria Plc on Thursday, July 17, 2008 and would remain in place until the Company complies with the decisions of the Administrative Proceedings Committee (APC).
COMPANY NEWS
FIRST BANK OF NIGERIA PLC: Audited result for the year ended 31st March 2008 shows Gross Earnings of N155.3 billion as against N91.2 billion in 2007. Profit after tax stood at N36.54 billion compared with N20.64 billion in 2007. The Directors are recommending a dividend of N1.20 per share and bonus of 1 for 4. The date of closure of register of members is August 8, 2008 while payment date is August 29, 2008.
ACCESS BANK PLC: Audited result for the year ended 31st March 2008 shows Gross Earnings of N58 billion as against N27.9 billion in 2007. Profit after tax stood at N15.85 billion compared with N6.1 billion in 2007. The Directors are recommending a dividend of N0.65 per share. The date of closure of register of members is July 29, 2008 while payment date is August 12, 2008. The 19th Annual General Meeting (AGM) of shareholders is scheduled to hold at Lagoon Restaurant, Ozumba Mbadiwe Avenue, Victoria Island, Lagos on Tuesday, August 5, 2008 by 11.00a.m.
STANBIC IBTC BANK PLC: Audited result for the 9-month ended 31st December 2007 shows Gross Earnings of N28.9 billion as against N21.12 billion during the 12-month ended 31st March 2007. Profit after tax stood at N7.85 billion compared with N5.8 billion during the 12-month ended 31st March 2007. The Directors are recommending a dividend of N0.30 per share. The date of closure of register of members is July 17, 2008 while payment date would be advised later.
OCEANIC BANK INTERNATIONAL PLC: Unaudited result for the third quarter ended 30th June 2008 shows Gross Earnings of N106.74 billion, as against N47.52 billion in the comparable period of 2007. Profit after tax stood at N33.61 billion compared with N13.63 billion in 2007.
UNITED BANK FOR AFRICA PLC: Unaudited result for the third quarter ended 30th June 2008 shows Gross Earnings of N120.3 billion, as against N75.25 billion in the comparable period
of 2007. Profit after tax and exceptional items stood at N28.85 billion compared with N17.13 billion in 2007.
SKYE BANK PLC: Unaudited result for the third quarter ended 30th June 2008 shows Gross Earnings of N47.3 billion, as against N28.8 billion in the comparable period of 2007. Profit after tax stood at N10.9 billion compared with N3.25 billion in 2007.
AIICO INSURANCE PLC: Unaudited result for the first quarter ended 31st March 2008 shows Gross Premium of N2.03 billion, as against N752.73 million in the comparable period of 2007. Profit after tax stood at N402 million compared with N82.3 million in 2007.
NIGERIAN BREWERIES PLC: Unaudited result for the half year ended 30th June 2008 shows Turnover of N68.05 billion, as against N51.9 billion in the comparable period of 2007. Profit after tax stood at N12.34 billion compared with N8.5 billion in 2007.
NATIONAL SALT CO. NIG. PLC: Unaudited result for the first quarter ended 31st March 2008 shows Turnover of N3.6 billion, as against N2.33 billion in the comparable period of 2007. Profit after tax stood at N642.9 million compared with N516.0 million in 2007.
NIGERIAN ENAMELWARE PLC: Unaudited result for the half year ended 31st March 2008 shows Turnover of N1.32 billion, as against N1.23 billion in the comparable period of 2007. Profit after tax stood at N14.33 million compared with N8.2 million in 2007.
NEM INSURANCE PLC: Audited result for the year ended 31st December 2007 shows Gross Premium of N2.55 billion as against N853.6 million in 2006. Profit after tax stood at N399.81 million compared with N8.8 million in 2006. The Directors are recommending a dividend of N0.05 per share. The date of closure of register of members is July 30, 2008 while payment date is August 21, 2008.
REGENCY ALLIANCE INSURANCE PLC: Audited result for the year ended 31st December 2007 shows Gross Premium of N783.9 million as against N332.35 million in 2006. Profit after tax stood at N237.54 million compared with N215.23 million in 2006. The Directors are recommending a bonus of 1 for 4. The date of closure of register of members is August 5, 2008.
ETERNA OIL & GAS PLC: Unaudited result for the half year ended 30th June 2008 shows Turnover of N3.7 billion, as against N3.3 billion in the comparable period of 2007. Profit after tax stood at N57.5 million compared with N30.9 million in 2007.
REPORT ON THE OTC MARKET FOR FGN BONDS
A turnover of 129.03 million units worth N131.3 billion in 1092 deals was recorded this week, in contrast to a total of 206.9 million units valued at N210.65 billion exchanged in 1505 deals during the week ended July 10, 2008. As in the preceding week, the most active bond (measured by turnover volume) was the 3rd FGN Bond 2009 Series 11 with a traded volume of 21.9 million units valued at N24.3 billion in 219 deals
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Market Analysis, stock exchange, weekly report | 
donne4real | July 20, 2008