Stock Market Report for the WE 010108 - NSE

Proshare

August 02 , 2008 / Nigerian Stock Exchange

  1. Equity Market

 

 

A turnover of 3.11billion shares worth N38.16 billion in 72,680 deals was recorded this week, in contrast to a total of 4.05 billion shares valued at N43.75 billion exchanged last week in 73, 782 deals.

 

The Insurance subsector was the most active during the week (measured by turnover volume), with 1.3 billion shares worth N2.05 billion exchanged by investors in the 10,433 deals. Volumes in the Insurance subsector were largely driven by activity in the shares of Investment and Allied Assurance Plc. Trading in the shares of the Insurance Company accounted for 811.8 million shares, representing 62.7 percent of the subsector’s turnover.

 

 

The Banking subsector, boosted by activity in the shares of First City Monument Bank Plc and Fidelity Bank Plc, followed on the week’s activity chart with turnover of N1.2 billion shares valued at N24.65 billion in 37,592 deals.

 

 

Lat week, the Insurance subsector led on the activity chart and was followed by the banking subsector.

 

 

Price Movement:

The All-Share Index rose by 4.04 percent to close on Friday at 52,641.55. The market capitalisation of the 209 First-Tier equities closed higher at N10.55 trillion.

 

 

Eighty (80) stocks appreciated in price during the week, higher than the nineteen (19) in the preceding week. Mobile Oil Nigeria Plc led on the gainers table with a gain of N33.80 to close at N254.00 per share while Julius Berger Nigeria Plc followed with N25.91 to close at N146.24 per share. Other price gainers in the Top 10 category include:

1. Flour Mills Nigeria Plc        - N8.05

 

2. Unilever Nigeria Plc            - N4.97

3. Benue Cement Company Plc- N4.85

4. Cadbury Nigeria Plc             - N4.70

5. UACN Plc                            - N4.42

6. PZ Cussons Nigeria Plc       - N4.13

7. Guinness Nigeria Plc           - N4.00

8. UACN Property Development Company Plc – N3.99

 

Twenty-six (26) stocks depreciated in price during the week, lower than the ninety-two (92) in the preceding week. Three Petroleum (Marketing) Stocks led on the losers table. Chevron Oil Nigeria Plc led dropping by N46.05 to close at N213.76 per share while Oando Plc followed with a loss of N17.99 to close at N170.01 per share. Other price losers in the Top 10 category include:

  1. Total Nigeria Plc                                         -N9.50

  1.  
  2. Nigeria Enamelware Plc                             -N8.61
  3. Nestle Nigeria Plc                                     -  N4.24
  4. 7-Up Bottling Company Plc                      ÃƒÆ’ƒÆ’¢â‚¬â€œ N2.58
  5. G Cappa Plc                                               -  N1.47
  6. PlatinumHabib Bank Plc                            -  N1.46
  7. Neimeth International Pharmaceuticals Plc - N1.43
  8. Ashaka Cement Plc                                      - N1.00

 

Two equity prices were adjusted for dividend as recommended by the Board of Directors. Access Bank Plc was adjusted for dividend of N0.65 per share; while NEM Insurance Plc was adjusted for dividend of N0.05 per share.

 

 

Company News

Conoil Plc

Audited result for the year ended December 31, 2007 shows Turnover of N86.85 billion compared to N90.52 billion with N2.81 billion in 2006. The Directors are recommending a dividend of N2.75 per share. The date of closure of register of members is August 04, 2008; while payment date is September 19, 2008.

 

 

PZ Industries Plc

Audited result for the year ended May 31, 2008 shows Turnover of N65.94 billion compared to N54.22 billion in 2007. Profit after Tax, exceptional items and minority interest stood at N3.95 billion in 2007. The Directors are recommending a dividend of N0.62 per share. The date of closure of register of members is August 25, 2008, while payment date is September 11, 2008.

 

 

Cappa & D’Alberto Plc

 

Audited result for the year ended December 31, 2007. The Directors are recommending a dividend of N0.50 per share. The date of closure of register of members is October 02, 2008, while payment date would be advised later.

 

Associated Bus Company Plc

Audited result for the year ended December 31, 2007 shows Turnover of N3.13 billion compared to N2.71 billion in 2006. Profit after Tax stood at N141.25 million compared with N143.01 million in 2006. The Directors are recommending a dividend of N0.08 per share. The date of closure of register of members is August 07, 2008, while payment date is September 07, 2008.

 

 

Aso Savings & Loans Plc

Audited result for the year ended March 31, 2008 shows Gross Earnings of N7.1 billion compared with N2.0 billion in 2007. Profit after Tax stood at N1.1 billion compared to N276.62 million in 2007. The Directors are recommending a dividend of N0.05 per share. The date of closure of register of members is October 06, 2008, while payment date is October 24, 2008.

 

Lasaco Assurance Plc

Audited result for the year ended December 31, 2007 shows Gross Premium of N1.84 billion compared to N1.6 billion in 2006.Profit after Tax stood at N678.11 million compared with N171.35 million in 2006. The Directors are recommending a dividend of N0.08 per share. The date of closure of register of members is August 08, 2008, while payment date is September 04, 2008. The 28th Annual General Meeting (AGM) of shareholders is scheduled to hold on Thursday, September 04, 2008 by 11.00 a.m. The venue would be advised later.

 

 

Royal Exchange Assurance Nigeria Plc

Audited result for the year ended December 31, 2007 shows Gross Premium of N2.7 billion compared to N2.14 billion in 2006. Profit after Tax stood at N543.64 million compared with Profit after Tax and exceptional items of N178.71 million in 2006. The Directors are recommending a bonus of 1 for 10. The date of closure of register of members was June 30, 2008.

 

 

Great Nigeria Insurance Plc

Audited result for the year ended December 31, 2007 shows a Gross Premium of N608.04 million compared to N289.74 million in 2006. Profit after Tax stood at N90.25 million compared with loss after tax of N155.35 million in 2006.

 

 

Great Nigeria Insurance Plc

Unaudited result for the half year ended June 30, 2008 shows Gross Premium of N563.7 million compared to N425.2 million in the comparable period of 2007. Profit after Tax stood at N85.4 million compared with N75.85 million in 2007.

 

 

NEM Insurance Plc

Unaudited result for the half year ended June 30, 2008 shows Gross Premium of N2.32 billion compared to N1.31 billion in same period of 2007. Profit after Tax stood at N560.92 million compared with N213.8 million in 2007.

 

Oasis Insurance Plc

Unaudited result for the half year ended June 30, 2008 shows Gross Premium of N521.35 million compared to N158.01 million in the same period of 2007. Profit after Tax stood at N138.05 million compared with N17.11 million in 2007.

 

 

Cornerstone Insurance Plc

Unaudited result for the half year ended June 30, 2008 shows a Gross Premium N2.13 billion, compared to N1.7 billion in the comparable period of 2007. Profit after Tax stood at N438.7 million compared with N330.52 million in 2007.

 

 

Ashaka Cement Plc

Audited result for the year ended December 31, 2007, shows Turnover of N16.5 billion compared to N16.8 billion in year 2006. Profit after Tax stood at N1.6 billion compared to N3.4 billion in 2006. The Directors are recommending a bonus of 1 for 6. The date of closure of register of members is August 25, 2008.

 

 

Ecobank Transnational Incorporated

Unaudited result for the half year ended June 30, 2008 shows Gross Revenue of N61.3 billion compared to N38.02 billion in the comparable period of 2007. Profit after Tax stood at N3.7 billion compared with Profit after Tax of N9.0 billion compared with N6.6 billion in 2007.

 

 

Oando Plc

Unaudited result for the half year ended June 30, 2008 shows a Turnover of N124.41 billion compared to N106 billion in the same period of 2007. Profit after Tax stood at N3.7 billion compared with Profit after Tax and exceptional items of N2.31 billion in 2007.

 

 

Sterling Bank Plc

Unaudited result for the third quarter ended June 30, 2008 shows Gross Earnings of N27.1 billion compared to N16.01 billion in the same period of 2007. Profit after Tax stood at N4.6 billion compared with N2.5 billion in 2007.

 

 

RT Briscoe Nigeria Plc

Unaudited result for the half year ended June 30, 2008 shows Turnover of N9.03 billion compared to N8.01 billion in the same period of 2007. Profit after Tax stood at N391.1 million compared to N326.04 million in 2007.

 

 

Ikeja Hotel Plc

Unaudited result for the half year ended June 30, 2008 shows Turnover of N3.22 billion compared to N2.5 billion in the same period of 2007. Profit after Tax stood at N555.61 million compared with N397.84 million in 2007.

 

 

Lafarge Wapco Plc

Unaudited half year result ended June 30, 2008 shows Turnover of N22.2 billion compared to N19.9 billion in the same period of 2007. Profit after Tax stood at N4.74 billion compared with N5.82 billion in 2007.

 

 

Tripple Gee & Company Plc

Unaudited result for the first quarter ended June 30, 2008 shows Turnover of N225.6 million compared to N161.82 million in the same period of 2007. Profit after Tax stood at N26.14 million compared with N16.9 million in 2007.

 

 

First Aluminium Nigeria Plc

Unaudited result for the half year ended June 30, 2008 shows Turnover of N225.6 million compared to N161.82 million in the same period of 2007. Profit after Tax stood at N26.14 million compared with N16.9 million in 2007.

 

 

First Aluminium Nigeria Plc

Unaudited result for the half year ended June 30, 2008 shows Turnover of N4.28 billion compared to N4.3 billion in the same period of 2007. Loss after Tax stood at N13.82 million compared with N171.7 million in 2007.

 

 

Investment & Allied Assurance Plc

Audited result for the year ended December 31, 2007 shows Gross Premium of N675.7 million compared to N159.2 billion in the same period in 2006. Profit after Tax stood at N304.65 million compared with N54.64 million in 2006. The Directors are recommending a dividend of 0.8 Kobo per share. The date of closure of register of members is August 08, 2008, while payment date is September 08, 2008.

 

 

Investment & Allied Assurance Plc

Unaudited result for the half year ended June 30, 2008 shows Gross Premium of N611.93 million compared to N354.2 million in the same period of 2007. Profit after Tax stood at N252.9 million compared with N136.8 million in 2007.

 

 

2. Over-the-Counter Bond Market

A Turnover of 371.63 million units worth N368.14 billion in 3413 deals was recorded this week, in contrast to a total of 232.62 million units valued at N232.6 billion exchanged in 2001 deals during the week ended July 24, 2008. As in the preceding week, the most active bond (measured by turnover volume) was the 5th FGN Bond 2018 Series 2 with a traded volume of 34.85 million units valued at N31.51 billion in 287 deals.

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