The Nigerian Stock Exchange (NSE) closed in the red for the second week in May. The All Share Index dropped by 0.48% closing at 41,022.31 basis points. Month to date, the index is down 0.60%. Year to date however, the index is up 7.27%.
35 equities appreciated in price during the week, 49 depreciated in price, while 85 remained unchanged.
Gainers
Cement Company of Northern Nigeria (CCNN)
CCNN, also known as Sokoto Cement, was the biggest gainer this week. The stock opened at N22.35 and closed at N29, adding 29.75%. Year to date, the stock is up 205.26%.
Veritas Kapital Assurance Plc
Veritas Kapital Assurance closed the week up 27.27%. The stock opened at N0.33 and closed at N0.42, gaining N0.09. Year to date, however, the stock is down 16%, as it is trading below its year high of N0.50.
Eterna Plc
Eterna Plc is an operator in the downstream oil and gas space. The stock opened at N5.74 and closed at N6.93, up N1.19 or 20.73%. Year to date, the stock is up 70.96%.
Linkage Assurance Plc
Linkage Assurance gained 11.76% this week. The stock opened at N0.85 and closed at N0.95. Year to date, the stock is up 43.94%.
The insurance firm this week released its FY 2017 and Q1 2018 results. For the full year ended December 2017, gross premium increased by 2% from N4 billion in 2016 to N4.1 billion in 2017. Profit before tax surged massively from N942 million in 2016, to N2.9 billion in 2017.
Q1 2018 results show that gross premium increased from N1.7 billion in 2017 to N2.1 billion in 2018. Profit before tax, however, dropped sharply from N1.7 billion in 2017 to N469 billion in 2018.
Linkage also declared a dividend of N0.05 (5 kobo) for the 2017 financial year.
Okomu Oil Palm Company Plc
Okomu Oil opened at N81 and closed at N90, gaining N9 or 11.11%. Year to date, the stock is up 32.96%.
Skye Bank Plc
Tier two bank, Skye Bank Plc, gained 10.59% in last week’s trading session. The stock opened at N0.85 and closed at N0.94, up N0.09. Year to date, the stock is up 88%.
Skye Bank’s most recent financial statements are for the 12 months ended December 2015.
Red Star Express Plc
Redstar Express operates in the logistics sector. The stock opened at N5.50 and closed at N6, up N0.50 or 9.09%. Year to date, Red Star is up 17.19%.
Caverton Offshore Support Group Plc
Caverton gained 8.75% this week. The stock opened at N2.40 and closed at N2.61, up N0.21. Year to date, the stock is up 102.33%.
Presco Plc
Presco opened last week at N70 and closed at N75.60, up N5.60 or 8%. Year to date, the stock is up 10.36%.
Nigerian Aviation Handling Company Plc (NAHCO Aviance)
NAHCO rounds up our top 10 gainers this week with an 8% gain. The stock opened at N4 and closed at N4.32. Year to date, the stock is up 8.54%.
Losers
Niger Insurance Plc
Niger insurance was the biggest loser last week. The stock opened at N0.28 and closed at N0.24, down N0.04 or 14.29%. Year to date, Niger Insurance is down 52%.
Japaul Oil and Maritime Plc
Japaul dropped by 13.04% this week. The stock opened at N0.46 and closed at N0.40, down N0.06. Year to date, the stock is down 20%. The company this week announced that it would pull out of the equity financing facility for $350 million with Milost Global Inc.
UAC Property Development Company Plc
UPDC is a subsidiary of UAC of Nigeria Plc, one of Nigeria’s oldest conglomerates. Year to date, the stock is down 22.49%.
Unity Bank Plc
Tier two lender, Unity bank, shed 10.83% this week. The stock opened at N1.20 and closed at N1.07, dropping N0.13. Year to date, the stock is up 101.89% however.
Diamond Bank Plc
Diamond Bank dropped 9.95% this week. The stock opened at N2.11 and closed at N1.90, down N0.21. Year to date, however, the stock is up 26.67%.
The tier two lender late Friday released its FY 2017 and Q1 2018 results simultaneously. For the 12 months ended December 2017, gross earnings increased from N184 billion in 2016 to N189 billion in 2017. The bank, however, made a loss before tax of N11.5 billion as against a profit before tax of N3.3 billion in 2016.
Results for the first quarter ended March 2018 show that interest income dropped slightly from N38.6 billion in 2017 to N38.1 billion in 2018. Profit before tax fell sharply from N5 billion in 2017 to N1.2 billion in 2018.
Champion Breweries Plc
Champion Breweries opened at N2.42 and closed at N2.18. The stock dropped N0.24 or 9.92%. Year to date, the stock is up 4.81%, one of the two positive in the breweries sub-sector.
Courteville Plc
Courtville Plc operates in the Information and Communication Technology (ICT) space. The stock opened at N0.22 and closed at N0.20, down N0.02 or 9.09%. Year to date, the stock is down 60%.
Sovereign Trust Insurance Plc
The stock opened at N0.22 and closed at N0.20, down N0.02 or 9.09%. Year to date, the stock is down 60%.
First Aluminium Nigeria Plc
First Aluminium Nigeria Plc was incorporated on 20th August, 1960. The company has a rolling mill and is engaged in the manufacture of aluminium coils, sheets and circles.
First Aluminium shed 8.16% this week. The stock opened at N0.49 and closed at N0.45 down N0.04. Year to date, the stock is down 10%.
Neimeth International Pharmaceuticals Plc
Neimeth rounds up our top 10 losers this week with a 7.69% decline. The stock opened at N0.78 and closed at N0.72, down by N0.06. Year to date, the stock is down 4%.
The company this week appointed Mrs Bashirat Odunewu as Independent Director.
