Friday 20 December 2019
BUSINESS DAY
47
Live @ The Exchanges Market Statistics as at Thursday 19 December 2019
Top Gainers/Losers as at Thursday 19 December 2019 LOSERS
GAINERS
Company
Opening
Closing
Change
N115.3
N112.5
-2.8
UPDCREIT
N3.65
N3.3
-0.35
UACN
N8.75
N8.6
-0.15
0.12
ACCESS
N9.9
N9.8
-0.1
0.07
INTBREW
N9.5
N9.4
-0.1
Company
Opening
Closing
Change
GUARANTY
N29.5
N30
0.5
MTNN
GLAXOSMITH
N5.25
N5.75
0.5
N37
N37.2
0.2
N2.08
N2.2
N2.3
N2.37
STANBIC FIDELITYBK UCAP
ASI (Points) DEALS (Numbers) VOLUME (Numbers) VALUE (N billion) MARKET CAP (N Trn)
26,584.45 2,690.00 304,214,729.00 3.148
Global market indicators FTSE 100 Index 7,573.82GBP +33.07+0.44%
Nikkei 225 23,864.85JPY -69.58-0.29%
S&P 500 Index 3,202.20USD +11.06+0.35%
Deutsche Boerse AG German Stock Index DAX 13,211.96EUR -10.20-0.08%
Generic 1st ‘DM’ Future 28,362.00USD +81.00+0.29%
Shanghai Stock Exchange Composite Index 3,017.07CNY +0.02+0.00%
12.832
Stock Exchange lists additional 31.5m shares of Stanbic IBTC worth N1.2bn
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Timipre Sylva, The Honourable Minister of State for Petroleum resources, (second from the left) flanked on his left chairman Seplat Petroleum Development Company Plc, ABC Orjiako; chief executive officer, SEPLAT, Austin Avuru; and to his left, chief financial officer and CEO Designate, SEPLAT, Roger Brown, during Seplat Petroleum’s courtesy call to the minister
MTNN, others drag stock market southwards Stories by Iheanyi Nwachukwu
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he Nigerian equities market closed negative on Thursday December 19 supporting earlier expectations that the market will remain bearish this week due to continued sell-offs. The disappointing outing at the Nigerian Stock Exchange (NSE) was fuelled among others by decline in prices of MTNN, UPDC REIT, UACN, Access Bank, and International Breweries Plc. “We expect equity market performance to remain volatile for the rest of the week as bargain hunters and profit takers continue to visit the exchange,” according to
research analysts at United Capital Plc. “A mid-session decline in MTNN cemented the loss for the All Share Index (ASI) while the session was generally mixed otherwise”, said Lagos-based analysts at Vetiva Securities. They expect investors to carefully hunt for bargains on certain stocks which depreciated in Thursday’s session, adding that activity in the market heavyweights will ultimately determine the direction of the ASI. As such, they foresee a mild recovery for the Nigerian bourse on Friday. The NSE All Share Index (ASI) moved down by 0.30percent from a preceding day high of 26,665.73 points to 26,584.45 points. The value of listed equities on the Bourse decreased to
N12.83trillion. In 2,690 deals, equity dealers exchanged 304,214,729 units valued at N3.148billion. Access Bank, Zenith Bank, FCMB, GTBank and Fidelity Bank were actively traded equities. The market has gained 0.18percent this week, but has decreased by 1.55percent this month, and 15.42percent year-to-date (ytd). The record negative further raises concerns on the possibility of Santa Claus rally that involves a rise in stock prices during the last 5 trading days in December and the first 2 trading days in the following January. The stocks of MTN N recorded the highest price decline on Thursday December 19. It decreased from N115.3 to N112.5, losing N2.8 or
2.43percent. UPDC REIT also decreased from a high of N3.65 to N3.3, losing 35kobo or 9.59percent. UACN Plc was also down from N8.75 to N8.6, losing 15kobo or 1.71percent, while Access Bank Plc declined from N9.9 to N9.8, losing 10kobo or 1.01percent. GTBank Plc stock price rallied most, from N29.5 to N30, after adding 50kobo or 1.69percent, followed by GlaxoSmithKline Consumer Nigeria Plc which advanced from N5.25 to N5.75, adding 50kobo or 9.52percent. The share price of Stanbic IBTC Holdings Plc moved up from N37 to N37.2, after rising by 20kobo or 0.54percent, and Fidelity Bank Plc which rose from N2.08 to N2.2, adding 12kobo or 5.77percent.
Shareholders approve Forte Oil name change to Ardova
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he shareholders of Forte Oil Plc at the company’s Extraordinary General Meeting (EGM) approved that the name of the company be changed from Ardova Plc. Ignite Investments had on June 24, 2019 acquired
970,166,694 ordinary shares representing a 74.02percent equity stake in Forte Oil from Zenon Petroleum & Gas Limited, Thames Investment Incorporated and Femi Otedola, for a cash consideration of N66.25 per share. The acquisition was conwww.businessday.ng
summated following the execution of a share purchase agreement between Ignite Investments, Zenon Petroleum, Thames Investment and Femi Otedola, and the approval of the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE).
Recently, Ignite Investments and Commodities Limited through a mandatory take over acquired up to 500,000 ordinary shares in Forte Oil Plc at N66.25 per share, which now makes its equity holdings in Forte Oil up to a maximum of 74.06percent.
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he Nigerian Stock Exchange (NSE) has listed Stanbic IBTC Holdings Plc’s additional 31,515,400 ordinary shares of 50 kobo. The additional shares valued at N1.16billion considering the N37 which the stock closed on Wednesday December 18. With this listing of 31,515,400 ordinary shares, the total issued and fully paid up shares of the Company has now increased from 10,473,451,958 to 10,504,967,358 ordinary shares. Dealing members were notified on Thursday December 19, 2019 that the shares listed on the Daily Official List of the Nigerian Stock Exchange arose as a result of the Scrip Dividend offered to eligible shareholders of Stanbic IBTC Holdings. The shareholders had elected to receive ordinary shares in lieu of cash dividends with respect to the N1 final dividend declared for the half year (H1) ended June 30, 2019. The N37 per share
which Stanbic IBTC Holdings closed after Wednesday’s trading on the floor of the Bourse represents year-to-date (ytd) decline of 22.8percent. The stock had reached a 52-week high of N53.25 and a corresponding week low of N33. Stanbic IBTC Holdings Plc posted a profit of N36 billion for the half-year which ended June 30, 2019 and rewarded shareholders with an interim dividend of N10.2 billion at 100 kobo per share. “We remain committed to operating to the highest level of corporate governance standards while delivering sustainable longterm value to clients and other stakeholders through worldclass innovative operations and our customercentric approach,” Yinka Sanni, Chief Executive Officer, Stanbic IBTC Holdings Plc had assured. According to him, the Group’s achievements are an indication that its strategy is delivering on set goals and objectives.
ASHON says capital market opens multiple income streams for operators
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he Nigerian capital market is believed to have opened up multiple options for securities dealers in Nigeria as stockbrokers await the take-off of demutualisation of the Nigerian Stock Exchange. The Capital Market boasts of FMDQ Securities Exchange, a full-fledged exchange and the NASD OTC Plc for unlisted securities. Besides, the Lagos Commodities and Futures Exchange (LCFE) is expected to commence operations soon as a Pan African Exchange among others. Oyinyechukwu Ezeagu, Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), described the development as heartwarming, saying that it had brought multiple income streams to stockbrokers’ table. “The new trend in the financial market is that opera-
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tors have multiple options for professional practice. These go along with multiple income streams on the table of market operators. We are looking at a broad range of markets and the readiness of operators to participate in these markets. “We have seen an expansion in fixed income investments, in Government Securities and renewed interests in the Commodities Market. The listing of two telecommunications companies excited the market within the year”, said Ezeagu. According to him, equity market represents the market of the real owners of the firm, taking into consideration the features of the theoretical common stock and the performance of the equity market in Nigeria is not different from its worldwide nature of performance.