panafrican daily market report 20-june-2014)

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PanAfrican Capital Daily Market Review

Friday, 20th June, 2014

Market Highlights The Market appreciated at the end of today’s trading as Investors on the floor of the Nigerian Stock Exchange traded 419.093 million shares worth N4.439 billion in 5,740 deals. The market capitalization of the 194 listed equities increased by 0.15 percent to close at N13.581 trillion from N13.561 trillion recorded in the previous trading day. The All-Share Index of the NSE also increased by 0.15 percent to close at 41,129.27 from 41,068.93 on Thursday.

QUARTERLY RESULTS

COMPANY TURNOVER (₦’B)

CURRENT PAT (₦’B)

PREVIOUS PAT (₦’B) PERIOD

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

FORTE OIL PLC 34.781 1.103 0.531 Q1, 2014

Source: Nigerian Stock Exchange

MONEY MARKET INDICATORS(20/06/2014) INDICES RATE9%

NIBOR(180 days) 14.05

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 17/06/2014

CRUDE OIL PRICE(BONNY LIGHT) ($) 115.9

Source: Central Bank of Nigeria

Market Update

Fitch Affirms Stanbic IBTC’s 'AAA(nga)' Rating

Fitch Ratings has affirmed Stanbic IBTC Holding Company Plc's national long-term

rating at 'AAA(nga)' and national short-term rating at 'F1+(nga)'. The affirmation,

according to a statement, followed the global rating agency’s rating action on South

African banks on 17 June 2014, where the agency revised the Outlook on Standard Bank

Group Limited's long-term foreign currency Issuer Default Rating (IDR) to negative

from stable and affirmed the rating at 'BBB'. Standard Bank is Stanbic IBTC’s parent

company, with a 53.2 per cent ownership. It explained that Stanbic IBTC’s ratings were

based on parent support. “Nigeria is an important market for Standard Bank Group and

Fitch views Stabic IBTC as a strategically important subsidiary, underpinned by high

integration with the parent group.

AshakaCem records drop in profit

Ashaka CementPlc, an indigenous cement manufacturing company, has announced a

drop of N301m in profit after tax for its 2013 financial year. The firm, in its 2013 annual

report made available to our correspondent after its 39th Annual General Meeting in

Abuja, posted a PAT of N3.125bn in 2012 as against N2.824bn recorded in the period

under review. Its profit before tax and gross profit were N2.845bn and N6.228bn in

2013, in contrast to N5.474bn and N8.325bn recorded in the preceding year. Turnover

for 2013 was N21.695bn, while that of 2012 was N21.826bn. The board of directors of

the firm, according to the annual report, proposed a gross dividend of 42kobo on every

ordinary share issue, amounting to N940.5m.

European Stocks Are Little Changed Amid Deals Action

European stocks were little changed, paring gains in the final minutes of trading, amid

an increase in mergers-and-acquisitions activity. Shire Plc surged to a record after

AbbVie Inc. said the drugmaker rejected an enhanced bid of as much as 27.3 billion

pounds ($46.5 billion). The Stoxx Europe 600 Index slipped less than 0.1 percent to

348.09 at the close of trading in London.

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

Friday Thursday

% Change 20/06/2014 19/06/2014

NSE Index 41,129.27 41,068.93 +0.15

Deals 5,740 5,162 +11.20

Volume (M) 419.093 317.767 +31.89

Value (₦’BN) 4.439 4.194 +5.84

Market Cap (₦’TRN) 13.581 13.561 +0.15


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

TRANSCORP 80,195,033 392,800,891.52

WAPIC 69,703,465 50,931,176.57

UBA 23,743,997 190,187,325.09

GUARANTY 23,250,741 673,745,999.87

COURTVILLE 19,106,900 11,082,012.00


TOP 5 GAINERS

TOP 5 LOSERS

STOCK LAST CLOSE

TODAY CLOSE

CHANGE STOCK

LAST CLOSE

TODAY CLOSE

CHANGE

CONOIL 62.23 68.60 6.37 JBERGER 70.87 69.35 -1.52

MRS 59.44 64.00 4.56 DANGCEM 226.20 225.01 -1.19

OANDO 27.56 30.37 2.81 GLAXOSMITH 67.00 66.00 -1.00

CAP 40.00 42.00 2.00 GUARANTY 29.70 28.83 -0.87

NB 165.00 166.50 1.50 BOCGAS 6.37 6.06 -0.31


NAIRA EXCHANGE RATE CURRENCY BUY SELL

BUREAU DE CHANGE 20/06/2014

US DOLLAR 165.00 163.00

POUNDS 285.50 280.00

EURO 236.00 232.00

CBN 20/06/2014

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 2,358.96 2,363.12 -0.18

EGYPT 30 8,340.40 8,439.90 -1.18

SOUTH AFRICA; JSE 51,322.67 51,280.72 +0.08

CASABLANCA; MASI 9,271.94 9,308.34 -0.39

BOTSWANA; DCI 9,200.82 9,196.29 +0.05

Source: Various Countries’ Exchanges

panafrican daily market report 20-june-2014)

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