Retail views

UBA Q4 results

Nigeria

Wednesday, 08 April 2015

Daily Retail Report .

Market Review

The bloodshed continues unabatedly at the Nigerian Stock

Exchange against the backdrop of profit taking activities. This

pessimistic mood was witnessed across board as all sectorial

indices closed in the red. The most hit were OILGS and NSEBNK on

the back of losses recorded by Oando (-9.73%), Mobil (-5.00%),

Seplat (-5.00% ), Guaranty (-5.70%), Zenithbank (-5.00%),

Skyebank (-4.78%), Wemabank (-4.72%) and Diamondbnk (-3.97%).

NSEASI shed -2.19% to close at 34,175.24, its year-to-date return

currently stand at -1.25%. Among the broad indices, volume of

transactions improved by 21% relative to previous figures as

704million units of shares valued at N4.665bn exchanged hands.

Top worst performers were OANDO (NN15.78), UAC-PROP(N10.55)

and WAPIC(N0.53) while AGLEVENT(N1.36), COSTAIN(N0.82) and

NEIMETH(N0.83) topped the key gainers’ list.

While profit taking activities persists, Investors are advised to take

up buying opportunities.

Sector Report Today(%) Month-To-Date(%) Year-To-Date(%)

NSE30 -2.51 7.95 5.49

NSE BNK10 -3.60 7.40 14.93

NSE CNSM10 -1.90 7.9 2.72

NSE OILG5 -3.63 5.92 13.44

NSE INS10 -1.91 -0.68 -12.18

NSE IND -3.15 7.84 -12.94

Market Wrap

ASI -2.19% 34,175.24

Index year-to-date e 0.94 %

Market Cap. N11.867Tril

Traded value 4.665Bn

Key gainers (%)

NESTLE 2.04

DANGFLOUR 0.45

RTBRISCOE 3.80

VITAFOAM 0.49

NASCON 1.28

Key losers (%)

OANDO -9.73

UAC-PROP -7.46

WAPIC -7.02

MOBIL -5.00

NB -5.00

NITTY

1M 10.8451

2M 13.6418

3M 14.1963

6M 14.6742

9M 15.1484

12M 15.5151

Crude oil spot price

Brent crude US$57.05

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Daily Retail Report

Page 2

Retail views

Top Highlight

Election Update (5) Ekiti State provides a warning of what might have happened after last week’s presidential election

Today’s front page of The Punch newspaper carries the headline “Chaos in Ekiti”, a state in the South West of Nigeria with a governor from the

Peoples Democratic Party. The story tells of mainly low-level violence on the streets, supporters of the governor barring access to government

buildings, and the military accused of preventing opposition members entering the capital, Ado Ekiti.

Ekiti State stood out in the recently-concluded presidential election. It was the only state in the South West where the Peoples Democratic Party (PDP) presidential candidate, Goodluck Jonathan, recorded victory over the All Progressives Congress (APC) candidate Major General Muhammadu

Buhari.

There have been reports in several Nigerian dailies about attempts by APC law makers in the Ekiti State House of Assembly to impeach the State

Governor, Ayo Fayose, on allegations of gross misconduct (he was impeached once before, in 2006). Fayose was elected governor of Ekiti State in June 2014 under the umbrella of the PDP. He is widely considered as one of the most controversial Nigerian governors.

The constitution stipulates that a majority vote from at least two-thirds of the sitting members of the House Assembly is required for the

impeachment of a state governor. 19 of the 26 lawmakers in the Ekiti State House of Assembly belong to the APC, heightening the possibility of

impeachment.

Clearly, an impeachment cannot happen if the lawmakers cannot enter the House of Assembly in Ado Ekiti. Yet, because Governor Fayose was

only recently elected, he will not face a governorship contest in elections due in other states on 11 April. The stand-off in Ekiti State therefore is

likely to continue for some time, a remarkable contrast to the calm in national politics following President Goodluck Jonathan’s concession of

defeat to Major General Muhammadu Buhari on 31 March.

Today’s news headlines

Dangote commences cement production in Cameroon: The management of Dangote Cement Plc has said that its planned consolidation of the

African expansion drive remains on course with the commencement of production of its $150m Cameroon plant in Douala. The company said in a

statement on Tuesday that the commencement of production in the Cameroonian commercial city came in the wake of the inauguration of another

1.5 million tonnes capacity per annum Senegal plant in Pout in January. Source: punchng.com

FG moves MDAs’ capital accounts to CBN: The Federal Government said it had successfully moved all the capital accounts of its Ministries,

Departments and Agencies to the Central Bank of Nigeria. The Minister of Finance, Dr. Ngozi Okonjo-Iweala, who confirmed the development in a

statement made available on Tuesday, said the move would help the central bank to effectively manage the funds of the government. Source:

punchng.com

Again, CBN reads riot act on Nigeria’s dollarisation: The Central Bank of Nigeria (CBN) on Tuesday restated its resolve to prosecute anyone

found transacting business in the country with any foreign currency as a medium of payment. The banking sector regulator stated that its

attention had been drawn to the increasing use of foreign currencies in the domestic economy as a medium of payment for goods and services by

individuals and corporate citizens.

Daily Retail Report

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Retail views

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