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Stocks investors should keep an eye on this week

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The NSE last week closed on a bearish note with the All Share Index down 0.12% month to date. Here is a rundown of stocks we will be keeping tabs on this week.

C and I Leasing Plc

C and I Leasing was incorporated on December 28, 1990 and commenced business in June 1991. The company was listed on the Nigerian Stock Exchange in December 1997. Its principal activities are equipment leasing and logistic solutions through car and marine vessel rentals.

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The company had recently announced its intention to raise a N7 billion bond. Proceeds will be used to pay down existing debt and acquire more vessels.

The stock closed at N1.80 On Friday’s trading session and is trading at 2.36 times earnings. 

C and I Leasing made our watchlist by virtue of being last week’s top gainer with a 29% price appreciation. Investors could decide to sell down in the event of no further news surrounding the company.

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Dangote Flour Mills

Dangote Flour Mills is into the milling of wheat and production of wheat based products. The company was incorporated on January 1, 2006.

For the 3 months ended March 2018, revenue fell from N29 billion in 2017 to N26.2 billion in 2018. Profit before tax also fell from N3.9 billion in 2017 to N2.2 billion in 2018.

Dangote Flour Mills closed Friday’s trading session at N11.40 and is currently trading at a PE ratio of 3.69 times earnings.

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Dangote Flour Mills was the biggest loser last week, hence marking a spot on our watch list. The stock shed 18.57%.

Year to date, the stock is down 6.17%, underperforming the All Share Index. This could be the end of a sell-off for the stock.  

Nestle Nigeria Plc

Nestle is into the manufacture, marketing, and distribution of food products, as well as purified water.

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Nestle last week released its results for the first quarter ended March 2018. While revenue increased slightly from N61.1 billion in 2017 to N67.4 billion in 2018, profit before tax dropped slightly from N14.2 billion in 2017 to N13.6 billion in 2018.

Nestle closed Friday’s trading session at N1595 and is trading at 37.22 times its current earnings.

Nestle will be closing its shareholders register this week between 7 – 11, May, hence its spot on our watch list.  Investors may decide to buy the stock before this period in a bid to qualify for dividends.

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AXA Mansard

AXA Mansard provides life and non-life insurance contracts. Through its subsidiaries, it also provides asset management and pension administration services.

Mansard closed Friday’s session at N2.35 and is trading at 12.27 times earnings.

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AXA  Mansard will be holding its Annual General Meeting this week on May 10. Payment of a  final dividend of N0.06 for the 2017 financial year, if approved, will also take place that day.

Caverton Offshore Support Group Plc

Caverton Offshore Support Group was incorporated in Nigeria on June 2, 2008, as a private limited liability company. The Group operates in the marine and aviation logistics sectors of the Nigerian oil and gas industry. It was listed on the NSE in 2014.

Caverton closed Friday’s session at N2.40 and is currently trading at 2.87 times earnings.

Caverton will be holding its Annual General Meeting (AGM) on May 8, 2018. Payment of a N0.15 dividend for the 2017 financial year will also take place same day if approved, hence its having its spot on our stocks to watch this week. 

NASCON Allied Industries Plc

NASCON is into the refining and sales of salt, as well as vegetable oil.

For its first quarter ended March 2018, revenue increased from N6.4 billion in 2017 to N6.7 billion in 2018. Profit before tax also rose from N1.1 billion in 2017 to N1.5 billion in 2018.

NASCON ended last week’s trading session at N21.40 and is trading at 10.11 times earnings.

The company will be paying a dividend of N1.50 this week on May 8, hence its spot on our watch list 

Diamond Bank Plc

Diamond Bank was incorporated on December 20, 1990 but began operations on March 21, 1999. Ten years later, in February 2001, it became a universal bank. In January 2005, following a private placement, it  became a public limited company.

Diamond bank ended last week’s trading session at N2.11 and is trading at 8.5 times earnings.

Diamond bank is on our watch list this week by virtue of  the impending release of its FY 2017 and Q1 2018 results.

Last week, the bank sent a notice to the NSE intimating it of a further delay in the release of its FY 2017 financial statements. The bank was however optimistic that the review would be concluded in May and the results subsequently released.

Q1 2018 results would follow suit.

Unilever Nigeria Plc

Unilever Nigeria is a member of the Unilever group. Unilever Nigeria Plc, the company, is into the manufacturing and marketing of foods and personal care products. The Company was quoted on the Nigerian Stock Exchange in 1973.

Unilever closed Friday’s trading session at N52.50 and is trading at 28 times earnings.

Unilever will be holding its Annual General Meeting on May 10, 2018. Payment of the proposed dividend of N0.50 per share, if approved, will take place on May 11, 2018.

Consolidated Hallmark Insurance

Consolidated Hallmark Insurance Plc (formerly Consolidated Risk Insurers Plc) was incorporated on August 2, 1991. The Company changed its name from Consolidated Risk Insurers Plc to Consolidated Hallmark Insurance Plc following its merger with Hallmark Assurance Plc and The Nigerian General Insurance Company Limited.  Consolidated Hallmark Insurance Plc came into effect from March 1, 2007.

Consolidated Hallmark closed Friday’s session at N0.32, and is trading at 9.8 times earnings.

The company will be closing its shareholders register from May 7 – 11, 2018, hence its taking a spot on our stocks to watch this week. 

FBN Holdings Plc

FBN Holdings is the holding company for tier one lender, First Bank and its subsidiaries.

FBN closed at N12.55 on Friday and is trading at 9 times earnings.

FBN Holdings (First bank) will be closing its register from May 7- 11, 2018. Investors may decide to key into the stock in a bid to qualify for dividend and then sell after. 

Berger Paints Nigeria Plc

Berger paints commenced operations in Nigeria on January 9, 1959.

The company is into the manufacture and sales of paints and coatings under 5 distinct segments: Decorative/Architectural finishes, Industrial Coatings, Marine & Protection coatings, Automotive/Vehicle refinishes, Wood Finishing and Preservers.

Berger ended last week’s trading session at N9.50 and is trading at 12.3 times earnings.

The company will close its shareholders register from May 7- 11, 2018. The stock could rally a bit as investors tend to buy into a stock before its closure date, to qualify for dividends. Hence earning a spot on our watch list. 

 

Patricia

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via [email protected]

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Coronavirus

COVID-19 Update in Nigeria

On the 8th of July 2020, 460 new confirmed cases and 15 deaths were recorded in Nigeria.

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The spread of novel Corona Virus Disease (COVID-19) in Nigeria continue to record significant increase as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 30,249 confirmed cases.

On the 8th of July 2020, 460 new confirmed cases and 15 deaths were recorded in Nigeria, having carried out a total test of 169,629 samples across the country.

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To date, 30,249 cases have been confirmed, 12,373 cases have been discharged and 684 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 169,629 tests have been carried out as of July 6th, 2020 compared to 152,952 tests a day earlier.

COVID-19 Case Updates- 8th July 2020,

  • Total Number of Cases – 30,249
  • Total Number Discharged – 12,373
  • Total Deaths – 684
  • Total Tests Carried out – 169,629

According to the NCDC, the 460 new cases were reported from 21 states- Lagos (150), Rivers (49), Oyo (43), Delta (38), FCT (26), Anambra (20), Kano (20), Plateau (18), Edo (14), Bayelsa (13), Enugu (13), Osun (12), Kwara (10), Borno (8), Ogun (7), Kaduna (6), Imo (4), Bauchi (3), Gombe (3), Niger (2), Adamawa (1).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 11,670, followed by Abuja (2,348), Oyo (1,573), Edo (1,503), Delta (1,323), Kano (1,291), Rivers (1,284), Ogun (1,057),  Kaduna (889), Katsina (628), Borno (563), Ondo (550), Gombe (524), Bauchi (519), Ebonyi (503), Plateau (478), Enugu (431), Abia (400),  Imo (356), Jigawa (318).

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Kwara state has recorded 307 cases, Bayelsa (282), Nasarawa (234), Osun (210), Sokoto (153),  Niger (124), Benue (121), Akwa Ibom (112), Adamawa (100), Anambra (93), Kebbi (86), Zamfara (76), Yobe (61), Ekiti (45), Taraba (27), while Kogi and Cross River state have recorded 5 cases each.

 

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

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Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020.

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READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

DateConfirmed caseNew casesTotal deathsNew deathsTotal recoveryActive casesCritical cases
July 8, 2020302494606841512373171927
July 7, 2020297895036691512108170127
July 6, 202029286575654911828168047
July 5, 2020287115446451111665164017
July 4, 202028167603634611462160717
July 3, 2020275644546281211069158677
July 2, 2020271106266161310801156937
July 1, 2020264847906031310152157297
June 30, 202025694561590179746153587
June 29, 20202513356657389402151587
June 28, 20202486749056579007149957
June 27, 20202407777955848625148947
June 26, 20202329868455458253144917
June 25, 20202261459454977822142437
June 24, 20202202064954297613138657
June 23, 20202137145253387338135007
June 22, 20202091967552577109132857
June 21, 202020242436518126879128477
June 20, 202019808661506196718125847
June 19, 202019147667487126581120797
June 18, 20201848074547566307116987
June 17, 202017735587469145967112997
June 16, 202017148490455315623110707
June 15, 20201665857342445349108857
June 14, 202016085403420135220104457
June 13, 20201568250140785101101747
June 12, 20201518162739912489198917
June 11, 2020145546813875449496737
June 10, 20201387340938217435191407
June 9, 2020134646633654420688937
June 8, 2020128013153617404084007
June 7, 20201248626035412395981737
June 6, 2020122333893429382680657
June 5, 20201184432833310369678157
June 4, 2020115163503238353576467
June 3, 2020111663483151332975227
June 2, 20201081924131415323972667
June 1, 20201057841629912312271579
May 31, 20201016230728714300768687
May 30, 2020985555327312285667267
May 29, 202093023872612269763447
May 28, 202089151822595259260647
May 27, 202087333892545250159787
May 26, 2020834427624916238557107
May 25, 202080682292337231155247
May 24, 202078393132265226353607
May 23, 202075262652210217451317
May 22, 2020726124522110200750337
May 21, 2020701633921111190748987
May 20, 202066772842008184046377
May 19, 202064012261921173444757
May 18, 202061752161919164443407
May 17, 202059593881826159441837
May 16, 202056211761765147239737
May 15, 202054452881713132039544
May 14, 202051621931683118038154
May 13, 202049711841646107037374
May 12, 20204787146158695936704
May 11, 202046412421521090235894
May 10, 202043992481421777834794
May 9, 202041512391271174532784
May 8, 202039123861181067931154
May 7, 20203526381108460128184
May 6, 20203145195104553425071
May 5, 2020295014899548123704
May 4, 2020280224594641722912
May 3, 2020255817088240020702
May 2, 20202388220861735119522
May 1, 20202170238691035117512
April 30, 2020193220459731715562
April 29, 2020172819652730713692
April 28, 2020153219545425512322
April 27, 20201337644102559942
April 26, 20201273914152399942
April 25, 20201182873632229252
April 24, 202010951143312088552
April 23, 20209811083231977532
April 22, 2020873912931976482
April 21, 20207821172631975602
April 20, 2020665382311884662
April 19, 2020627862221704362
April 18, 2020541482021663562
April 17, 2020493511841593172
April 16, 2020442351311522772
April 15, 2020407341211282672
April 14, 202037330111992632
April 13, 202034320100912422
April 12, 20203235100852282
April 11, 202031813103702382
April 10, 20203051770582402
April 9, 20202881471512302
April 8, 20202742260442262
April 7, 20202541661442042
April 6, 2020238650351982
April 5, 20202321851331942
April 4, 2020214540251850
April 3, 20202092542251800
April 2, 20201841020201620
April 1, 2020174352091630
March 31, 202013982091280
March 30, 2020131202181210
March 29, 2020111221031070
March 28, 20208919103850
March 27, 2020705103660
March 26, 20206514102620
March 25, 2020517102480
March 24, 2020444102410
March 23, 20204010112370
March 22, 2020308002280
March 21, 20202210001210
March 20, 2020124001110
March 19, 20208000170
March 18, 20208500170
March 17, 20203100030
March 16, 20202000020
March 15, 20202000020
March 14, 20202000020
March 13, 20202000020
March 12, 20202000020
March 11, 20202000020
March 10, 20202000020
March 9, 20202100020
March 8, 20201000010
March 7, 20201000010
March 6, 20201000010
March 5, 20201000010
March 4, 20201000010
March 3, 20201000010
March 2, 20201000010
March 1, 20201000010
February 29, 20201000010
February 28, 20201100010

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Diversion points for third mainland bridge closure revealed

There would be a diversion of traffic in 2 phases during the partial closure of the bridge.

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FG discloses measures, diversion points for traffic during closure of Third Mainland Bridge

The Federal Government has announced the different phases points of diversion of traffic during the partial closure of the Third Mainland bridge for repair works.

This was disclosed during a joint press conference by the Federal Controller of Works in Lagos, Engr Olukayode Popoola, the Lagos State Commissioner for Transportation, Dr. Frederic Oladeinde and the Special Adviser to Governor Babajide Sanwo-Olu on Works, Engr Aramide Adeyoye, on Tuesday at Alausa Ikeja.

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During the press conference, the Federal and Lagos State Governments have appealed to motorists and Lagos residents to cooperate with government and appropriate agencies during the 6 months partial closure of the Third Mainland Bridge for maintenance work, which is expected to start on July 24.

They also assured Lagosians that necessary measures would be put in place to reduce gridlocks during partial closure of the bridge as they would work with appropriate authorities to direct and control traffic movement in the affected areas and alternative routes.

Engr. Popoola revealed that there would be diversion of traffic in 2 phases during the partial closure of the bridge between Friday, July 24, 2020 and January 24, 2021.

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READ MORE: Lagos Government gives approval to 7 private labs to commence COVID-19 testing

He said the First Phase of the diversion, which will last for 3 months of repairs of the Oworonsoki bound lane of the Third Mainland Bridge, would be for morning traffic from 12:00 am to 1:00 pm from Oworonshoki to Lagos Island on the Lagos Island-bound lane, while the afternoon traffic from 1:00 pm to 12:00 am would be from Lagos Island to Oworonsoki on the Lagos Island-bound lane.

Engr. Popoola said the Phase 2 of the diversion, which would last also for three months of repairs of the Lagos Island-bound lane of the Third Mainland Bridge, would be for morning traffic from 12:00 am to 1:00 pm from Oworonsoki to Lagos Island on the Oworonsoki bound lane, while the afternoon traffic from 1:00 pm to 12:00 am would be from Lagos Island to Oworonsoki on the Oworonsoki bound lane.

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Popoola said, “Motorists are advised to also ply these alternative routes: First, from Carter Bridge through Iddo through Oyingbo to join Adekunle ramp inward Oworonsoki. Secondly, from Ijora Olopa through Western Avenue to Ikorodu Road.

On his own part, the Lagos State Commissioner for Transportation, Dr. Oladeinde said priority will be given to those driving from Mainland to the Island in morning and afternoon to use the Third Mainland while those driving against traffic will use the alternative routes.

READ MORE: FG to shut Third Mainland Bridge for 6 months 

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Dr. Oladeinde assured motorists that Lagos State Traffic Management Authority (LASTMA) will work with Federal Road Safety Corps (FRSC) in all the alternative routes to ensure that motorists have a smooth journey during the partial closure of the bridge.

The commissioner advised those who don’t have any genuine reason to be on the road to stay at home to reduce vehicular movement during this period while adding that the public vehicles would be available and affordable for road users.

He said: “If you don’t have to travel, I will advise that you stay at home so that we can minimise the number of vehicles on the road. If you can work at home, please do. But if you can’t, we will ensure will be on the road for you to get to your destination as quickly as possible.”

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Dr. Oladeinde also advised people of Lagos State to use alternative transport such as ferries. He said there will be an increase in the number of fleets by the Lagos Ferry Services in the morning for people from Ikorodu and Mile 2 as alternative transportation.

READ ALSO: Fourth Mainland Bridge to begin before December

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Also speaking, Engr. Adeyoye while appreciating the Federal Government for the repair of Third Mainland Bridge, said Lagos State Government has commenced necessary preparatory works on all the alternative routes in the state to make them motorable for the commuters.

Adeyoye said the state will do its best within two weeks to work on all the roads that may likely cause gridlocks to be free of potholes.

She also warned trucks and vehicles that are not road worthy or serviceable to stay away from Lagos roads.

 

 

 

 

 

Patricia
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Around the World

Africa’s GDP could fall by 3.4% in 2020 if COVID-19 continues – AfDB 

The bank warns projected GDP losses for 2021 ranges from $27.6 billion to $47 billion.

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Akinwunmi Adesina, Afdb, Africa’s GDP could fall by 3.4% in 2020 if COVID-19 continues – AFDB

The African Development Bank (AFDB) published its African Economic Outlook 20202 Supplement on Tuesday and warned that the continent’s GDP would fall by at least 1.7%, and if the coronavirus pandemic continues into the second half of 2020, it could contract up to 3.4%. 

“Real GDP in Africa is projected to contract by 1.7% in 2020, dropping by 5.6 percentage points from the January 2020 pre-COVID-19 projection of the virus, if the virus has a substantial impact but of short duration. If it continues beyond the first half of 2020, there would be a deeper GDP contraction in 20202 of 3.4% down by 7.3 percentage points from growth projected before the outbreak of COVID-19,” the bank said. 

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AFDB warns that cumulative GDP losses could range between $173.1 billion and $236.7 billion in 2020-2021. 

“Africa could suffer GDP losses in 20202 between $145.5 billion (baseline) and $189.7 billion (worst case) from the pre-COVID-19 estimated GDP of $2.59 trillion for 2020”. 

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The bank warned some losses will be carried over into 2021, as the projected recovery would be partial, and warns projected GDP losses for 2021 ranges from $27.6 billion to $47 billion (worst case). 

READ MORE: Aviation: Aviation sector grasps for stimulus in worst ever crisis

The bank said countries with poor healthcare systems, oil-exporting nations, tourism-dependent nations and other resource-dependent nations will be the hardest hit. 

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The bank calls for countries to reopen economies and advised a “phased and incremental approach that carefully evaluates the trade-off between restarting economic activity to quickly and safeguarding the health of the population”. 

READ ALSO: Recession: Nigerian economy to slide by 3.4% in 2020 – IMF

The Economic Outlook Supplement is a revised projection from an earlier January outlook that projected 3.9% growth from Africa’s largest multilateral bank. 

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