Compared with the preceding week, the indices increased by 1,472.83 points (7.37%) and N352 billion (7.79%) to close the week at 21,455.92 points and N4.873 trillion. On the activity chart this week, the total volume and value of trades dipped by 56.71% and 23.40% from 3.04 billion units to 1.31 billion units and N10.94 billion to N8.38 billion while the number of deals increased by 68.66% from 17,946 deals to 30,268 deals.

Analysis of Top Percentage Gainers and Losers
More equities gained weight in the week under review as against the prior week as 70 (50%) stocks advanced, 25 (18%) declined with 44 (32%) constant in their share prices. In the previous week we had 47 (35%) gainers, 56 (41%) losers and 33 (24%) which were stagnant.

Top Gainers by Percentage
BAGCO Plc led the percentage gainers table increasing by N0.35kobo (25.93%) to close at N1.70. Others were NEM Insurance, International Energy Insurance, Oceanic Bank, Dangote Sugar, Access Bank, Daar Communications, Diamond Bank, among others.

Stock	17/04/09	24/04/09	Ch	%Ch
BAGCO	1.35	1.70	0.35	25.93
LIVESTOCK	1.10	1.38	0.28	25.45
STERLNBANK	1.34	1.61	0.27	20.15
NEM	0.56	0.67	0.11	19.64
UBN	10.51	12.51	2.00	19.03
INTENEGINS	0.90	1.07	0.17	18.89
FCMB	5.10	5.99	0.89	17.45
ASOSAVINGS	0.90	1.05	0.15	16.67
OCEANIC	6.00	7.00	1.00	16.67
DANGFLOUR	6.99	8.15	1.16	16.60
DIAMONDBNK	4.38	5.10	0.72	16.44
DANGSUGAR	15.45	17.92	2.47	15.99
GUARANTY	10.05	11.58	1.53	15.22
FIRSTINLND	2.12	2.44	0.32	15.09
NIGERINS	1.54	1.77	0.23	14.94

Top Losers by Percentage
Cement Company of Northern Nigeria Plc recorded the highest percentage loss shedding N1.65kobo (20.63%) to close at N6.35. Others were Wema Bank, Law Union & Rock Insurance, UACN, Wapic Insurance, 7UP, Nestle Foods, Total, Starcomms, Mobil Oil, to mention a few.

Company Results

[Download not found]
FSDH - Weekly Report - April 17th 2009 (393)
Forte Asset - Weekly Report - Apr 17th 2009 (260)

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A review of the week’s performance indicators chart shows a steady climb all through the week except for Monday. The ASI and Market Capitalisation decreased by 11.40 basis points (0.06%) and N3 billion (0.07%) on Monday to close at 19,825.08 points and  N4.477 trillion. Tuesday’s indices increased by 26.81 points (0.14%) and N7 billion (0.16%) to record 19,851.89 points and N4.484 trillion. On Wednesday, they appreciated by 19.80 points (0.10%) and N11 billion (0.25%) to close at 19,871.69 points and N4.495 trillion. The uptrend continued on Thursday as the indicators increased by 7.85 points (0.04%) and N2 billion (0.04%) to close at 19,879.54 points and N4.497 trillion. On Friday, they rose by 74.61 points (0.38%) and N17 billion (0.38%) to record 19,954.15 points and N4.514 trillion. Altogether, there were 117.67 points (0.59%) and N34 billion (0.76%) increases in the week under review.  However, market activities for the week reduced in contrast with the prior week. An overview shows the total volume of trades reducing by 37.86% from 2.76 billion units to 1.72 billion units, the value of trades by 28.22% from N13.59 billion to N9.76 billion and the number of deals by 4.70% from 28,216 deals to 26,891 deals.

Analysis of Top Percentage Gainers and Losers
More equities recorded price increases in the week under review as 47 (36%) stocks appreciated, 41(31%) shed weight, with 44 (33%) constant in their share prices as against 26 (20%) advancers, 63 (48%) decliners and 42 (32%) which were stagnant the previous week.

Top Gainers by Percentage
African Petroleum Plc was the highest price gainer in the week adding N15.62kobo (27.60%) to its previous week’s closing price to record N72.22. Other notable gainers were FTN Cocoa, Oando, Dangote Sugar, UACN among others.

Notable Price Gainers include:
AP  - 27.60%
UNILEVER - 22.48%
FTNCOCOA  - 16.67%
CADBURY - 16.11%
SKYEBANK - 15.76%
JAPAULOIL  - 15.48%
OANDO - 15.33%
NAHCO - 15.20%
DANGSUGAR - 14.62%
CHAMS  – 13.51%
DIAMONDBNK - 13.16%
UAC-PROP - 12.78%
UACN - 12.69%
LASACO - 10.84%
WAPCO - 9.76%

Top Losers by Percentage
R.T. Briscoe Plc had the highest percentage loss, shedding N2.81 (23.48%) to close at N9.16. Others were Wema Bank, C&I Leasing, ABC Transport, International Energy Insurance, to mention a few.

Notable price losers include:
RTBRISCOE   -23.48
ETI   -22.41
NASCON  -22.09
STDINSURE  -19.12%
WEMABANK  -18.22%
CUSTODYINS   -18.08%
AFRIBANK  -16.39%
CONTINSURE   -15.84%
CRUSADER   -14.22%
CILEASING   -14.19%
INTENEGINS   -13.04%
ABCTRANS  -11.11%
PLATINUM  -10.54%
NEIMETH   -9.50%
REDSTAREX   -9.50%

News

1. NSE Lists Courteville Investments Plc: A total of 2,960,000,000 Ordinary shares in favour of Courteville Investments Plc were newly listed on the Daily Official List of the Nigerian Stock Exchange on April 1, 2009.
2. Total Nigeria and FTN Cocoa Declare Dividends: The Board of Directors of Total Nigeria Plc approved a dividend of N9.13kobo per ordinary share. The register of members would close on April 20, 2009 while payment is fixed for June 29, 2009.
3. FTN Cocoa Processors Declares Dividends: The Board of FTN Cocoa Processors Plc proposed a dividend of 3.5kobo. Closure of register date is on May 11 while payment is on June 25, 2009. Details of the company’s financials will be reported when available.

The share prices of Oceanic (Up 15.63% to N11.69), Intercontinental Bank (Up 15.57% to N11.21), Stanbic-IBTC (Up 13.31% to N9.45), GT Bank (Up 13.06% to N12.47), Diamond (Up 9.85% to N7.81), Zenith (Up 9.42% to N22.19), First Bank (Up 6.20% to N22.10), FCMB (Up 5.56% to N5.70), Access Bank (Up 2.64% to N6.60), Skye (Up 5.00% to N7.56), Union Bank (Up 2.88% to N16.45), and UBA (Up 2.08% to N11.79) were up while Bank PHB’s (Down 1.11% to N8.90) fell.
In the  Manufacturing & Allied sector, the share prices of Ashakacem (Up 15.71% to N16.20), PZ Cussons (Up 10.20% to N9.72), UPDC (Up 8.92% to N23.20), Unilever (Up 5.70% to N9.09), Nigerian Breweries (Up 4.56% to N38.96), Dangote flour (Up 4.70% to N12.24), Guinness (Up 3.64% to N90.60), and Lafarge WAPCO (Up 3.20% to N25.80) rose while Dangote Sugar’s (Down 0.06% to N15.50).

In the Insurance sector N.E.M (Up 15.00% to N1.38), Lasaco (Up 14.93% to N1.54), AIICO (Up 14.71% to N1.56), Standard Alliance (Up 12.77% to N1.59), Goldlink (Up 11.49% to N0.97), Cornerstone (Up 10.67% to N1.66), Linkage (Up 8.06% to N0.67), Mutual Benefits (Up 6.82% to N1.41), Custodian & Allied (Up 4.55% to N2.99) Law Union (Up 5.16% to N3.26), and Intercontinental WAPIC (4.79% to N3.28) were up while the share prices of both Prestige (Down 4.87% to N6.25) and International Energy (Down 1.42% to N2.09) fell.

The other top gainers for the week were Japaul (Up 15.48% to N3.58), Daar Comms (Up 15.26% to N2.87), BAGCO (Up 15.25% to N3.25), Chams (Up 14.88% to N2.47) and Aso Savings (Up 14.84% to N1.47); while the other top losers for the week were Big Treat (Down 13.90% to N2.54), May & Baker (Down 11.20% to N5.87), Afprint (Down 9.28% to N2.15), Great Nigerian Insurance (Down 9.25% to N1.57) and Universal Insurance (Down 7.69% to N0.72).
Overall, fifty-seven (57) stocks recorded gains in their share prices; thirty-six (36) stocks recorded losses, while one hundred and sixteen (116) stocks closed the week unchanged.

Money Market
Available data showed that the 7-day NIBOR at the inter-bank market transactions increased to close the week at 13.67%, a 109 basis points increase from the previous week’s figure of 12.58%. The 90-day NIBOR also increased to close the week at 16.96%, a 100 basis points increase from the previous week’s figure of 15.96%.

There were no activities at both the Secondary and Primary Markets for the Treasury Bills during the week. However, the previous week transaction showed that at the 91-day Treasury bill auction held, a total of N5bn worth of bill was offered and allotted; N23.82bn was subscribed, leading to a subscription level of 476.45%. The bill was issued at a discount rate of 5%, a 44 basis point decrease from the previous week’s figure of 5.44%. A total of N5bn worth of matured bills was repaid into the system, resulting in a nil flow from this segment of the market.

At the 182-day Treasury bill auction, a total of N10bn worth of bill was offered and allotted. A total of N34.05bn was subscribed, leading to a subscription level of 340.51%. The bill was issued at a discount rate of 5.20%, a 54 basis point decrease from the previous week’s figure of 5.74%. A total of N10bn worth of matured bills was paid into this segment of the market, resulting in a nil flow from this segment of the market.

A total of N5.4bn worth of Reverse Repo was withdrawn from the system from this segment of the market. At the secondary segment of the market, a total of N46bn worth of matured bills was repaid into the system. Cumulatively, the money market witnessed a total outflow of about N20.40bn through the government securities market.
The Bond Market and the Foreign Exchange market were officially closed for the year.

The value of the Naira against the US Dollar remained the same at the official market, while it depreciated at the parallel market. At the official market, the value of the naira remained at N131.25/US$1, same as the previous week. At the inter-bank market, the value of the naira depreciated by N3.35k to close the week at N139.65/US$1, compared with the previous week’s figure of N136.30/US$1. As at the time of this report there was no data obtained from the parallel market.

Over-the-Counter Market for FGN Bond
A turnover of 115mn units worth N116.3bn in 809 deals was recorded during the week, in contrast to a total of 275.71mn units valued at N267.64bn exchanged in 1,950 deals during the week ended Thursday, December 11, 2008. The most active bond (measured by turnover volume) was the 5th FGN Bond 2011 Series 3 with a traded volume of 15.3mn units valued at N15.7bn in 107 deals. This was followed by the 4th FGN Bond 2010 series 14 with a traded volume of 10.8mn units valued at N10.61bn in 89 deals. Twenty-three (23) of the available forty-one (41) FGN Bonds were traded during the week, compared to twenty-four (24) in the preceding week.

Market Report For The Week Ended March 6th, 2009

A turnover of 1.54 billion shares worth N9.42 billion in 33,641 deals was recorded this week, in contrast to a total of 1.75 billion shares valued at N12.45 billion exchanged last week in 42,503 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 978.7 million shares worth N6,548 million exchanged by investors in 18,414 deals. Volume in the Banking subsector was largely driven by activity in the shares of Spring Bank Plc, Access Bank Plc and Intercontinental Bank Plc. Trading in the shares of the three banks accounted for 506.31 million shares, representing 51.73% of the subsector’s turnover.
 
The Insurance subsector, boosted by activity in the shares of Investment and Allied Assurance Plc and AIICO Insurance Plc, followed on the week’s activity chart with a turnover of 217.41 million shares valued at N198.6 million in 3,207 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 6.35% to close on Friday at 21,893.04. The market capitalization of the 198 First -Tier equities closed lower at N4.9 trillion. Also, The NSE-30 Index dropped by 4.2% to close at 661.98.
 
All of the four sectoral indices depreciated – The NSE Banking Index dropped by 5.7% to close at 349.83, The NSE Insurance Index dropped by 4.9% to close at 459.80 while The NSE Food/Beverage Index dropped by 2.4% to close at 441.54 and The NSE Oil/Gas Index dropped by 10.9% to close at 370.91.
 
Twenty – Two (22 stocks appreciated in price during the week, lower than the seventy – one (71) in the preceding week. Total Nigeria Plc led on the gainers’ table with a gain of N5.88 to close at N123.49 per share while Guinness Nigeria Plc followed with N4.00 to close at N83.00 per share. Other price gainers in the Top 10 category include:
- Flour Mills of Nigeria Plc – N1.18
- National Salt Company of Nigeria Plc – N0.93
- Lafarge Cement WAPCO Nig. Plc – N0.85
- Northern Nig. Flour Mills Plc – N0.77
- Dangote Flour Mills Plc – N0.47
- Red Star Express Plc – N0.44
- Intercontinental Bank Plc – N0.42
- Cement Co. of Northern Nig. Plc – N0.25
 
Eighty – Five (85) stocks depreciated in price during the week, higher than the forty – nine (49) in the preceding week. Two Petroleum (Marketing) stocks occupied the Top positions on the decliners’ table. As in the preceding week, Mobil Oil Nigeria Plc led, dropping by N44.85 to close at N153.51 per share while African Petroleum Plc followed with a loss of N25.08 to close at N85.91 per share. Other price losers in the Top 10 category include:
- Nestle Nigeria Plc – N13.99
- Ecobank Transnational Incorporated – N4.73
- Oando Plc – N2.00
- PZ Cussons Nig. Plc – N2.00
- UACN Plc – N1.86
- Nig. Bottling Co. Plc – N1.80
- Wema Bank Plc – N1.65
- Nigerian Breweries Plc – N1.42
 
Delisting
Universal Trust Bank Plc was delisted from the Daily Official List on Tuesday, March 3, 2009 following the successful takeover of the bank by Union Bank of Nigeria Plc. By this action, the number of listed Companies and securities decreased to 213 and 300, respectively.
 
Company News
NIGERIAN BREWERIES PLC: Audited result for the year ended 31st December 2008 shows Turnover of N145,462 million as against N111,748 million in 2007. Profit after tax stood at N25,701 million compared with N18,943 million in 2007. The Directors are recommending a final dividend of N0.50 per share. The date of closure of register of members is March 30, 2009 while payment date would be May 21, 2009. The stock price had on October 9, 2008 and December 29, 2008 been adjusted for interim dividends of N1.00 and N1.90 per share respectively, thus bringing the total cash dividend to N3.40 per share. The 63rd Annual General Meeting of Shareholders is scheduled to hold at Grand Banquet Hall, Civic Centre, Ozumba Mbadiwe Road, Opposite 1004 Estate, Victoria Island Lagos on May 20, 2009 by 10.00a.m.
 
LAFARGE CEMENT WAPCO NIGERIA PLC: Audited result for the year ended 31st December 2008 shows Turnover of N43,274 million as against N38,665 million in 2007. Profit after tax and exceptional items stood at N11,252 million compared with profit after tax, exceptional and extra-ordinary items of N10,679 million in 2007. The Directors had earlier recommended a dividend of N0.60 per share. The date of closure of register of members is May 14, 2009 while payment date is May 27, 2009. The Annual General Meeting of Shareholders is scheduled to hold on May 27, 2009.
 
FIRST INLAND BANK PLC: Audited result for the year ended 30th April 2008 shows Gross Earnings of N37, 987 million as against N27,472 million in 2007. Profit after tax stood at N1, 074 million compared with profit after tax and Goodwill Amortization of N2,716 million in 2007.
 
ELLAH LAKES PLC: Audited result for the year ended 31st July 2008 shows Turnover of N35.2 million as against N27.91 million in 2007. Loss before tax stood at N3.71 million compared with profit after tax of N5.3 million in 2007.
 
PREMIER BREWERIES PLC: Audited result for the year ended 31st March 2008 shows NIL Turnover same as in 2007. Loss after tax stood at N23.005 million compared with N224.21 million in 2007. Consequently, if previous years’ losses are taken into account, the retained loss carried forward stood at N440.3 million compared to N417.3 million in 2007. The 13th Annual General Meeting of Shareholders is scheduled to hold at the Conference Hall, Zodiac Hotel, 5/7 Rangers Avenue, Enugu, Enugu State on March 13, 2009 by 2.00p.m.
 
LIVESTOCK FEEDS PLC: Unaudited result for the third quarter ended 31st December 2008 shows Turnover of N2,019 million, as against N932 million in the comparable period of 2007. Profit after tax stood at N63.54 million compared with N57.61 million in 2007. The Company effected a change in the year end from March 31 to December 31.
 
RED STAR EXPRESS PLC: Unaudited result for the third quarter ended 31st December 2008 shows Turnover of N3.1 million, as against N2.41 million in the comparable period of 2007. Profit after tax stood at N0.257 million compared with N0.215 million in 2007.
 
INTERLINKED TECHNOLOGIES PLC: Unaudited result for the half year ended 31st December 2008 shows Turnover of N64.22 million, as against N67.91 million in the comparable period of 2007. Loss before tax stood at N1.65 million compared with profit before tax of N26.4 million in 2007.
 
Company Forecasts
NESTLE NIGERIA PLC: The Company forecasts Turnover of N13,657 million and profit after tax of N1,811million during the half year ending June 30, 2009. According to the Board of Directors, the realization of the forecast would depend on stable financial and business environment.
 
STACO INSURANCE PLC: The Company forecasts Gross Premium of N2.25 billion and profit after tax of N375.1 million during the first quarter ending March 31, 2009.
 
CEMENT COMPANY OF NORTHERN NIGERIA PLC: The Company forecasts Turnover of N2,600 million and profit after tax of N268.114 million during the first quarter ending March 31, 2009.
 
LIVESTOCK FEEDS PLC: The Company forecasts Turnover of N981.5 million and profit after tax of N44.32 million during the half year ending June 30, 2009.
 
UTC NIGERIA PLC: The Company forecasts Turnover of N535.1 million and profit after tax of N4.44 million during the first quarter ending March 31, 2009.
 
ALUMINIUM EXTRUSION INDUSTRIES PLC: The Company forecasts Turnover of N238.21 million and profit after tax of N17.1million during the first quarter ending March 31, 2009.

STOCK MARKET BRIEF FOR THE WEEK ENDED FRIDAY, FEBRUARY 20, 2009 – Activities Remain Sluggish as Index Dips 391bps

Despite the lull which had commenced since upper weekend, the bulls struggled to keep their horns high as trading this week saw the energetic bears combating hard to gain complete market dominance over the bulls. As daily decline in market returns tilt towards zero, expectations are high as to what the week ahead has to unfold.

However, overall stock market returns for the week lie in the negative terrain as the NSE ASI shed 391bps (basis points) to close at 22,711.91 points and the market capitalisation of the 214 listed equities depreciated by 3.90 percent to stand at 5.081trillion NGN (34.82billion USD).

Penny stocks were investors’ toast for the week under review definitely because of their cheap prices. The banking and insurance sector was also at the center of activities as they enjoy liquidity from trading.

Volume of shares exchanged this week was 0.88 percent higher than previous week’s as transactions was on the low side. The number of deals and value of transactions dipped by 14 percent and 18 percent respectively to stand at 36,804 trades and 7.67billion NGN (52.58million USD) in that order. Total volume of shares traded was 1.54billion shares compared with 1.53billion shares executed previous week.

 Sector News

1. Sectoral activities for the week reeled off from the banking sector as the sector’s shares dominated proceedings. Investors exchanged stakes in 696.62million shares in 20,375 trades which was valued at 5.13billion NGN (35.19million USD). This feat was made possible by transactions in OCEANIC (192.7m units), ACCESS (82.8m units) and FIRSTBANK (82.6M units) which accounted for over 50 percent of the sector’s activity.
2. Insurance sector was also active owing to high level of liquidity (number of shares) in the sector, accounting for 289.14million shares exchanged in 3,186 deals worth over N209.54milllion NGN (1.67million USD).
   Conglomerate sector ranked third on activity chart with 124.77million shares were swapped in 3,417 trades grossed at 209.54million NGN (1.44million USD).
3. After the squeeze experienced in the bid camp through the week, Friday ended with more equities tossed on bid. Penny stocks rounded transactions up owing to the fact that their prices are abysmally low after been trampled upon by the bears. Stocks like UNIONDAC, ASOSAVINGS, MBENEFIT, GUINEAINS, NEM, NASCON, SOVRENINS and TRANSCORP were atop the bid chart. On the flip side, IAINSURE, EQUITYASUR, CRUSADER, CAPHOTEL, and STACO were prominent on the offer chart.

Business News

1. More companies graced proceedings on the floor of the stock exchange with their quarterly performance results. FIRSTBANK PLC, FIDELITYBK PLC, PLATINUM PLC, UBA PLC, ZENITH PLC, CADBURY PLC, and IPWA PLC released their unaudited scorecard while CADBURY PLC, COSTAIN PLC and LIVESTOCK PLC announced their quarterly forecast profit & loss figures.
2. The board of WAPCO PLC proposed a dividend of 60kobo. For its financial year ended December 31, 2008. Closure date was scheduled for May 14, 2009, payment date and AGM date fixed for May 27, 2008.
3. In contrast to the bearishness witnessed through the week, the bulls spur up trading today as some stocks suddenly got bullish. 36 stocks as against 51 preceding week gyrated northwards into the bullish camp while 64 equities in contrast to 43 last Friday tilted southwards into the losers’ camp by close of trading this week.
4. Measured in absolute terms, NESTLE rode with the bulls all week long as it led the gainers, camp with a N21.40k ($0.15) price appreciation to close the week at N136.60K while the petroleum (marketing) sector dominated the losers’ territories for the week. AP, since after lifted off technical suspension continue to wane in the bear’s territory as it lost another N41.90k ($0.29) off its shares price to hit N143.42k by close of market Friday.
5. Dividends: The board of WAPCO PLC proposed a dividend of 60kobo For its financial year ended December 31, 2008. Closure date was scheduled for May 14, 2009. Payment Date and AGM fixed for May 27, 2008.

Company Results

Ticker	Period	Turnover (N’m)	PAT/(loss) (N’m)
UBA	Q1 Dec’08	51,738.00	10,802.00
FIRSTBANK	Q3 Dec’08	152,398.00	33,350.00
ZENITHBANK	Q1 Dec’08	52,038.00	11,105.00
FIDELITYBK	Q2 Dec’08	29,243.00	7,581.00
PLATINUM	Q2 Dec’08	62,389.00	11,717.00
IPWA	Q3 Dec’08	378.428	30.277
IPWA	Q2 Jun’08	234.664	20.721
LIVESTOCK**	Q1 Mar’09E	801.471	32.84
COSTAIN**	Q4 Mar’09E	5,390.00	382.719
CADBURY**	Q4′Dec’08E	23,107.00	-2,880.00

]]> http://www.naijalowa.com/market-report-for-the-week-ended-feb-20th-2009/feed/ 0 http://www.naijalowa.com/market-report-for-the-week-ended-feb-13th-2009/ http://www.naijalowa.com/market-report-for-the-week-ended-feb-13th-2009/#comments Tue, 17 Feb 2009 16:39:46 +0000 donne4real http://www.naijalowa.com/?p=862 Here is the market report for the week ended Friday, February 13th 2009:

A turnover of 1.53 billion shares worth N9.4 billion in 42,723 deals was recorded this week, in contrast to a total of 1.8 billion shares valued at N8.71 billion exchanged last week in 34,863 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 825.7 million shares worth N6.25 billion exchanged by investors in 25,332 deals. Volume in the Banking subsector was largely driven by activity in the shares of Acce ss Bank Plc, Oceanic Bank International Plc, Intercontinental Bank Plc and United Bank for Africa Plc.

Trading in the shares of the four banks accounted for 452.6 million shares, representing 54.8% of the subsector’s turnover.

The Insurance subsector, boosted by activity in the shares of Investment and Allied Assurance Plc and Regency Alliance Insurance Plc, followed on the week’s activity chart with a turnover of 277.74 million shares valued at N229.5 million in 3,409 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 0.76% to close on Friday at 23,635.92. The market capitalization of the 199 First -Tier equities closed lower at N5.3 trillion. The NSE-30 Index rose by 0.1% to close at 634.04.

The NSE Banking Index rose by 1.3% to close at 364.59, The NSE Insurance Index rose by 1.2% to close at 534.88 and The NSE Food/Beverages Index rose by 3.2% to close at 395.02. However, The NSE Oil/Gas Index dropped by 7.7% to close at 525.00.

Fifty – Two (52) stocks appreciated in price during the week, lower than the sixty – nine ( 69) in the preceding week. Nestle Nigeria Plc led on the gainers’ table with a gain of N5.20 to close at N115.20 per share while Union Bank of Nigeria Plc followed with N1.90 to close at N14.33 per share. Other price gainers in the Top 10 category include:
+ Oando Plc - N1.74
+ UACN Property Dev. Co. Plc - N1.64
+ BOC Gases Plc - N1.44
+ Afribank Nigeria Plc - N1.12
+ Intercontinental Bank Plc - N1.06
+ Guinness Nigeria Plc - N0.98
+ Glaxo Smithkline Consumer Plc - N0.86
+ Presco Plc - N0.82

Fifty – Five (55) stocks depreciated in price during the week, higher than the thirty – nine (39) in the preceding week. Nigerian International Debt Fund Plc led on the price losers’ table, dropping by N197.41 to close at N5,495.33 per Note while African Petroleum Plc followed with a loss of N30.81 to close at N185.32 per share. Other price losers in the Top 10 category include:
- Total Nigeria Plc - N27.76
- Julius Berger Nigeria Plc - N5.53
- Chevron Oil Nigeria Plc - N4.01
- Benue Cement Company Plc -         N2.50
- National Sports Lottery Plc - N1.77
- Eterna Oil & Gas Plc - N1.55
- Guaranty Trust Bank Plc - N1.40
- Nig. Bottling Co. Plc - N1.08

Two equity prices were adjusted for dividend as recommended by the Board of Directors while one Managed Fund was adjusted for Coupon payment as recommended by the Fund Manager. Sterlin g Bank Plc was adjusted for dividend of N0.10 per share while Deap Capital Management and Trust Plc was adjusted for dividend of N0.15 per share. Nigerian International Debt Fund was adjusted for coupon of N197.41 per Note.

Lifting of Technical Suspension
The technical suspension on the following 19 stocks was lifted on Thursday, February 12, 2009:
- Staco Insurance Plc
- Equity Assurance Plc
- UTC Nigeria Plc
- Eterna Oil & Gas Plc
- Ikeja Hotels Plc
- Tripple Gee & Co. Plc
- Wema Bank Plc
- Ecobank Transnational Incorporated
- C & I Leasing Plc
- Crusader (Nig) Plc
- Linkage Assurance Plc
- Longman Nigeria Plc
- Royal Exchange Plc
- Oasis Insurance Plc
- Nigerian-German Chemicals Plc
- First Aluminium Nigeria Plc
- Deap Capital Management & Trust Plc
- Trans-Nationwide Express Plc and DN Meyer Plc.

Company News

1. DIAMOND BANK PLC: Unaudited result for the third quarter ended 31st January 2009 shows Gross Earnings of N72.43 billion, as against N41.71 billion in the comparable period of 2008. Profit after tax stood at N15.83 billion compared with N9.6 billion in 2008.
2. FLOUR MILLS OF NIGERIA PLC: Unaudited result for the third quarter ended 31st December 2008 shows Turnover of N112.24 billion, as against N74.54 billion in the comparable period of 2007. Profit after tax and exchange rate loss stood at N756.81 million compared with N3.65 billion in 2007.
3. NORTHERN NIGERIA FLOUR MILLS PLC: Unaudited result for the third quarter ended 31st December 2008 shows Turnover of N6.6 billion, as against N3.75 billion in the comparable period of 2007. Profit after tax stood at N99.4 million compared with N85.6 million in 2007.
4. TRIPPLE GEE & CO. PLC: Unaudited result for the third quart er ended 31st December 2008 shows Turnover of N788.61 million, as against N604.14 million in the comparable period of 2007. Profit after tax stood at N77.71million compared with N71.55 million in 2007.
5. AFPRINT NIGERIA PLC: Unaudited result for the half year ended 31st December 2008 shows Turnover of N1.63 billion, as against N1.95 billion in the comparable period of 2007. Loss after tax stood at N128.1million compared with profit after tax of N54.5 million in 2007.

Company Forecasts

1. UAC OF NIGERIA PLC: The Company forecasts Turnover of N13.714 billion and profit after tax and exceptional items of N1.22 billion during the first quarter ending March 31, 2009. The results of UACN Property Development Co. Plc are now fully consolidated in the account as if it was a subsidiary in line with the new Statement of Accounting Standard on Consolidation and Separate Financial Statements (SAS 27). UPDC Plc was previously treated as an Associated Company.
2. SOVEREIGN TRUST INSURANCE PLC: The Company forecasts Turnover of N1.5 billion and profit before tax and exceptional items of N913.1 million during the first quarter ending March 31, 2009.
3. 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 FGN Bonds
A turnover of 322.1 million units worth N320.7 billion in 1,663 deals was recorded this week, in contrast to a total of 164.84 million units valued at N168.3 billion exchanged in 1,131 deals during the week ended Thursday, February 5, 2009. The most active bond (measured by turnover volume) was the 5th FGN Bond 2013 Series 1 with a traded volume of 37.8 million units valued at N35.85 billion in 144 deals. This was followed by the 4th FGN Bond 2017 Series 9 with a traded volume of 29.85 million units valued at N28.8 billion in 80 deals. Twenty – Six (26) of the available thirty – nine (39) FGN Bonds were traded during the week compared to twenty – three (23) in the preceding week.

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.

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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 655.8 million shares worth N5 billion exchanged by investors in 21,622 deals. Volume in the Banking subsector was largely driven by activity in the shares of Fidelity Bank Plc and First City Monument Bank Plc. Trading in the shares of the two banks accounted for 256.03 million shares, representing 39.04% of the subsector’s turnover.

The Conglomerates subsector, boosted by activity in the shares of Transnational Corporation of Nigeria Plc, followed on the week’s activity chart with a turnover of 252.53 million shares valued at N342.31 million in 1,160 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 11.5% to close on Friday at 24,000.09. The market capitalization of the 198 First -Tier equities closed lower at N5.34 trillion.

Two (2) stocks appreciated in price during the week, lower than the fourteen (14) in the preceding week. UACN Plc led on the gainers’ table with a gain of N0.34 to close at N28.99 per share while Omatek Ventures Plc followed with N0.05 to close at N1.26 per share.

One Hundred and Eleven (111) stocks depreciated in price during the week, higher than the seventy – six (76) in the preceding week. Mobil Oil Nigeria Plc led on the price losers’ table, dropping by N32.38 to close at N298.91 per share while African Petroleum Plc followed with a loss of N28.65 to close at N265.33 per share. Other price losers in the Top 10 category include:

+ Nestle Nigeria Plc – N25.92
+ Longman Nigeria – N20.22
+ Total Nigeria Plc – N18.86
+ Chevron Oil Nigeria – N12.75
+ Oando Plc – N8.45
+ Conoil Plc – N7.64
+ Skye Shelter Fund Plc – N5.55
+ Julius Berger Nigeria – N5.42

Price Adjustments
The price of Longman Nigeria Plc was adjusted for bonus of 2 for 1 as recommended by the Board of Directors

Supplementary Listings
A total of 4,750,000,000 shares were added to the shares outstanding in the name of Custodian and Allied Insurance Plc on Wednesday, January 21, 2009 following the conclusion of Public |Offering. Also, a total of 514,300,000 shares were added to the shares outstanding in the name of Longman Nigeria Plc on Thursday, January 22, 2009 following the bonus of 2 for 1.

News
1. LONGMAN NIGERIA PLC: The Directors are recommending a bonus of 2 for 1. The date of closure of register of members is January 22, 2009.An extra-Ordinary General Meeting (EGM) is scheduled to hold on Tuesday, January 27, 2009
2. VITAFOAM NIGERIA PLC: Audited result for the year ended 30th September 2008 shows Turnover of N8.2 billion as against N6.15 million in 2007. Profit after tax stood at N698.3 million compared with N439.31 million in 2007. The Directors are recommending a dividend of N0.30 per share. The date of closure of register of members is February 16, 2009 while payment date is March 20, 2009. The Annual General Meeting is scheduled to hold on March 5, 2009 at Sheraton Hotel and Towers, Mobolaji Bank Anthony Way Ikeja, Lagos by 10.00a.m.
3. DEAP CAPITALMANAGEMENT & TRUST PLC: Audited result for the year ended 30th September 2008 shows Turnover of N1.33 billion as against N739.45 million in 2007. Profit after tax stood at N343.85 million compared with N308.54 million in 2007. The Directors are recommending a dividend of N0.15 per share. The date of closure of register of members is February 9, 2009 while payment date is March 19, 2009.
4. PZ CUSSONS NIGERIA PLC: Unaudited result for the half year ended 30th November 2008 shows Turnover of N35.9 billion, as against N29.95 billion in the comparable period of 2007. Profit after tax stood at N1.5 billion compared with N1.4 billion in 2007.

Forecasts
CUSTODIAN & ALLIED INSURANCE PLC: The Company forecasts Gross Premium of N2 billion and profit after tax of N1.1 billion during the first quarter ending March 31, 2009.

Bond Reports
A turnover of 495.42 million units worth N501.85 billion in 3,924 deals was recorded this week, in contrast to a total of 140.91 million units valued at N142.5 billion exchanged in 377 deals during the week ended Thursday, January 15, 2009. The most active bond (measured by turnover volume) was the 4th FGN Bond 2010 Series 4 with a traded volume of 60.0 million units valued at N59.35 billion in 369 deals.

This was followed by the 4th FGN Bond 2010 Series 1 with a traded volume of 52.5 million units valued at N56.22 billion in 481 deals. Twenty – Two (22) of the available thirty – nine (39) FGN Bonds were traded during the week compared to twenty-seven (27) in the preceding week.

You can also review the analysis of last week’s NSE performance here:

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