panafrican daily market report (02-july-2014)

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For further enquiries, please call Mayowa Oladipupo on +2348035042312 or Ayo Dawotola on +2348035026371

PanAfrican Capital Daily Market Review

Wednesday, 2nd July, 2014

Market Highlights The Market closed on a flat note at the end of today’s trading as Investors on the floor of the Nigerian Stock Exchange traded 388.936 million shares worth N4.478 billion in 5,488 deals. The market capitalization of the 194 listed equities was flat by 0.00 percent to close at N14.070 trillion from N14.070 trillion recorded in the previous trading day. The All-Share Index of the NSE also was flat by 0.00 percent to close at 42,609.75 from 42,611.30 on Tuesday.

QUARTERLY RESULTS

COMPANY TURNOVER (₦’B)

CURRENT PAT (₦’B)

PREVIOUS PAT (₦’B) PERIOD

AIICO INSURANCE PLC 8.811 0.915 0.746 Q1, 2014

LAW UNION AND ROCK INSURANCE PLC 1.042 0.194 0.053 Q3,2013

REGENCY ALLIANCE INSURANCE PLC 1.066 0.275 0.141 Q1, 2014

Source: Nigerian Stock Exchange

MONEY MARKET INDICATORS(02/07/2014) INDICES RATE9%

NIBOR(180 days) 14.38

LIBOR (180 days) (USD) 0.33

TB (180 days) 12.25

5 years F.G. Bond 13.67

PRIME LENDING RATE 17.90

DEPOSIT RATE 2.63–8.44

Source: Financial Market Dealers Quotations

CBN MONETARY INSTRUMENTS RATES May-2014 Mar-2014

MONETARY POLICY RATE(MPR) 12.00 12.00

LIQUIDITY RATIO(LR) 30.00 30.00

CASH RESERVE RATIO(CRR) - Private(Public) 15.00 (75.00) 12.00 (75.00)

INFLATION RATE May Apr. NBS (Year-on-Year Inflation Rate) 8.00 7.90

MONTHLY CRUDE OIL PRICE 30/06/2014

CRUDE OIL PRICE(BONNY LIGHT) ($) 114.7

Source: Central Bank of Nigeria

Market Update

Mansard Insurance gets NAICOM approval on micro insurance products

Underwriting firm, Mansard Insurance plc, has secured approval of the National

Insurance Commission (NAICOM) to roll out micro insurance products in Nigeria,

becoming one of the first to get this approval after the guideline was released in

November 2013. Micro insurance products are insurance products designed to be

appropriate for the low-income market in relation to cost, policy terms, coverage and

delivery mechanism. NAICOM classifies micro-insurance policies to cover little risks

and therefore, exclude special risks like motor insurance (except tricycles and

motorcycles), professional indemnity and other pecuniary risks with sums insured

higher than N1 million.

Minority shareholders raise concerns over Lafarge Africa deal

A group of minority shareholders has raised concerns about the deal proposing a

combination of the Nigeria and South Africa businesses of Lafarge Cement Wapco plc.

South Africa based fund management company, Coronation Fund Managers, which says

it has more than $200 million invested in the Nigerian equity market, with $10 million of

that amount across its Africa funds in Lafarge, said the deal is unfavourable to minority

shareholders of the company. The complaint comes ahead of next week’s voting by

Nigerian shareholders to approve the deal. The Fund raised three points of concern

relating in particular to pricing and valuation, suggesting that these have been skewed

against minority shareholders in Nigeria in particular.

Emerging Stocks Climb to 13-Month High on Global Growth Outlook

Emerging-market shares rose, sending the benchmark index to the highest level in 13

months, as growing confidence in global economic growth lifted technology companies.

Dubai’s stock market rallied the most in the world. The MSCI Emerging Markets Index

increased 0.8 percent to 1,059.90 by 11:40 a.m. in New York, set for its highest close

since May 2013. Data yesterday that showed manufacturing expansion from China to

the U.K. and the U.S. has boosted the outlook for developing-nation exporters.

This report is produced by PanAfrican Capital Plc as a guide for clients that intend to invest in Securities on the

basis of their own investment decision without relying completely on the information contained herein. No

responsibility or liability is accepted for error of fact or any opinion expressed herein.

KEY MARKET INDICATORS

INDICATORS

Wednesday Tuesday

% Change 02/07/2014 01/07/2014

NSE Index 42,609.75 42,611.30 0.00

Deals 5,488 5,455 +0.68

Volume (M) 388.936 620.845 -37.35

Value (₦’BN) 4.478 4.978 -10.04

Market Cap (₦’TRN) 14,070 14.070 0.00


TOP TRADED STOCKS STOCK VOLUME (UNITS) VALUE (₦)

FBNH 72,539,768 1,171,835,843.78

FCMB 60,630,277 266,751,106.51

TRANSCORP 30,370,821 159,184,766.39

NEM 26,516,793 22,314,127.34

OANDO 19,701,061 553,381,233.13


TOP 5 GAINERS

TOP 5 LOSERS

STOCK LAST CLOSE

TODAY CLOSE

CHANGE STOCK

LAST CLOSE

TODAY CLOSE

CHANGE

SEPLAT 700.00 720.50 20.50 JBERGER 76.45 69.00 -7.45

FO 200.00 207.00 7.00 TOTAL 179.60 173.00 -6.60

GLAXOSMITH 64.00 68.00 4.00 GUINNESS 198.00 192.02 -5.98

UACN 65.10 67.85 2.75 NESTLE 1,150.00 1,145.00 -5.00

INTBREW 28.00 29.01 1.01 CADBURY 80.00 78.00 -2.00


NAIRA EXCHANGE RATE CURRENCY BUY SELL

BUREAU DE CHANGE 02/07/2014

US DOLLAR 165.00 163.00

POUNDS 285.50 280.00

EURO 236.00 232.00

CBN 02/07/2014

US DOLLAR

154.74

155.75

Source: Central Bank of Nigeria and Market information

CORPORATE ACTIONS

COMPANY BONUS DIVIDENDS(₦) CLOSURE DATE AGM DATE

NPF MICROFINANCE BANK N/A 0.10 9TH

JUNE, 2014 26TH

JUNE, 2014

CAPITAL HOTEL PLC N/A 0.05 9TH

JUNE, 2014 24TH

JUNE, 2014

NASCON N/A 0.90 10TH

JUNE, 2014 19TH

JUNE, 2014


AFRICAN INDICIES

INDEX NAME TODAY PREVIOUS DAY %CHANGE

GHANA; GSE CI 2,374.61 2,375.84 +0.05

EGYPT 30 8,142.25 8,162.20 -0.24

SOUTH AFRICA; JSE 51,883.71 51,480.19 +0.78

CASABLANCA; MASI 9,213.55 9,259.46 -0.50

BOTSWANA; DCI 9,161.27 9,133.87 +0.30

Source: Various Countries’ Exchanges

panafrican daily market report (02-july-2014)

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