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Markets

Stocks to watch this week 21st May, 2018

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Stocks to watch

May’s bearish pattern continued last week, as the All Share Index dropped by 1.34% last week.  Year to date, the index remains positive at 5.83%.

Here are the stocks that we feel investors should keep eyes on this week. Stocks on our watchlist are drawn from the top gainers and losers of last week, and stocks having one form of corporate action or the other.

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Sovereign Trust Insurance Plc

 Sovereign Trust Insurance was incorporated as a limited liability company on 26 February 1980. The company commenced business on 2 January 1995 as a non-life insurer with an authorized share capital of ₦30 million and a fully paid up share capital of ₦20 million following the acquisition and recapitalization of the then Grand Union Assurance Limited.

Current Share Price: N0.26

PE ratio: 86.67x

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Sovereign Trust Insurance was the biggest gainer last week with a 30% gain, hence its earning a place on our watchlist. Nairametrics believes that an investor is taking position in the stock. Thus, its upward price movement could continue next week.

Ikeja Hotels Plc

Ikeja Hotels Plc originally known as Properties Development Limited was incorporated on November 18, 1972. The company’s name was changed to Ikeja Hotels Limited in 1980. It became a public company in 1983 and assumed its present name on February 5, 1991.

Current Share Price: N1.78

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PE ratio: 3.72x

Ikeja Hotels Plc makes our watchlist this week by virtue of the lifting of a 2-year suspension placed on the stock by the Nigerian Stock Exchange over the weekend. The stock could witness a significant trade volume in the coming week.

Japaul Oil and Maritime Services Plc

Current Share Price: N0.30

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PE Ratio: NA

Japaul Oil and Maritime is on our watchlist for the week by virtue of being last week’s biggest loser.  A base floor of N0.20 means that the stock could witness some downside this trading week.

Investors had largely keyed into the stock following the signing of an agreement with private equity firm, Milost Global, to invest $250 million. A few weeks back, Japaul terminated the said agreement.

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Nestle Nigeria Plc

Nestle Nigeria Plc formally began operations in 1961, though imports date back to the beginning of the 20th century.  The company’s primary activities include the distribution of food products including purified water.

Nestle Nigeria Plc also exports some of these products outside Africa. Some of its popular brands include Milo, Golden Morn, and Maggi.

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Current Share Price: N1,600

P.E Ratio: 37.33x

Nestle  makes our watchlist due to its Annual General Meeting (AGM) holding on the 22nd of May, 2018 at the MUSON centre, Lagos by 9am.

Dividend payment will take place the next day. The company will be paying a final dividend of N27.50 per share for the 2017 financial year.

Pharmadeko Plc

Pharmadeko was incorporated as a private limited liability company in in 1967 as Parke-Davis Limited. In 1980 it changed its name to Pharma Deko Limited, and in 2004 to Pharma Deko Plc.

The company is into the manufacture and sale of pharmaceutical and consumer goods products.

Current Share price: N2.20

PE Ratio: 14.86x

Pharmadeko Plc will be holding its Annual General Meeting (AGM) on the 22nd of May, 2018. The company will be  paying a dividend of N0.05 for the 2017 financial year, on the 23rd of May, 2018.

Infinity Trust Mortgage Bank Plc

Infinity Trust Mortgage Bank Plc was incorporated on 28th January, 2002, as Infinity Trust Savings & Loans Limited. However, it commenced business operations in Abuja, in 2003.

The bank was converted to a Public Limited Liability Company on 25th January, 2013, and changed its name to Infinity Trust Mortgage Bank Plc. Consequently, its shares were listed by introduction on the main floor of the Nigerian Stock Exchange on December 11, 2013. In 2014, it became a national mortgage Bank.

Current Share price: N1.42

PE Ratio: 26.5x

Infinity Trust Mortgage Bank will be holding its Annual General Meeting (AGM) on the 24th of May, 2018. AGMs are a key source of information regarding the future plans of a company, as well as gauging investor feedback.

Consolidated Hallmark Insurance Plc

Consolidated Hallmark Insurance Plc (formerly Consolidated Risk Insurers Plc) was incorporated on 2 August 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 in line with the consolidation reform of NAICOM announced in 2006.

Current share price: N0.27

PE ratio: 3.99X

Consolidated Hallmark Insurance will be holding its Annual General Meeting (AGM) on the 22nd of May, 2018 and paying a dividend on the same date.

Regency Alliance Insurance Plc

The Company was incorporated on the 16th day of June 1993 as a private limited liability Company known as “Regency Insurance Company Limited” and was licensed by NAICOM to underwrite all classes of NON-Life Insurance Business. In 2005, it became a composite insurance company having obtained a life insurance license.

In 2007, the company’s name was changed to Regency Alliance Insurance Plc after a successful merger with three other companies

Current Price: N0.27

PE ratio: 8.63x

Regency Alliance will be holding its AGM on the 24th of May, 2018, hence its spot on our watchlist. Dividend, if approved  will be paid on the 25th of May, 2018.

GSK Consumer Nigeria Plc

GlaxoSmithKline Consumer Nigeria Plc was incorporated in 1971. The principal activities of the company are manufacturing, marketing and distribution of consumer healthcare and pharmaceutical products.

Current Share Price: N21.25

P.E Ratio: 33.43x

GSK Consumer will be holding its Annual General Meeting (AGM) on the 24th of May, 2018. The company will pay a dividend of N7.50 on the 25th of May, if approved by its shareholders.

Fidelity Bank Plc

Current Share Price: N2.15

PE Ratio: 1.69x

Fidelity Bank will be holding its Annual General Meeting (AGM) on the the 25th of May, 2018, hence its place on our watchlist. The bank will be paying a dividend of N0.11 per share the same day, if approved by shareholders.

11 Plc (formerly Mobil Oil Plc)

Mobil Oil Nigeria was incorporated as a private company in 1951, became a public limited liability company and was listed on the NSE in 1978.

NIPCO Plc, had last year acquired a 60% stake in Mobil Oil Nigeria from Exxon Mobil of the USA in a deal valued at $300 million.

Current Share Price: N181

P.E Ratio: 8.6x

11 Plc’s qualification date is on the 25th of May, 2018, hence its spot on our watchlist for the week. The company will be paying a dividend of N8 per share.

CAP Plc

CAP Plc, a subsidiary of UACN Plc is in the paintings and coatings business.

Current Share Price: N40

P.E Ratio: 18.69x

CAP Plc is on our list of stocks to watch this week by virtue of Friday the 25th of May, 2018 being its qualification date. Shareholders holding the stock on this day will qualify for its 2017 dividend payment. Investors could decide to key into the stock in view of this.

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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Commodities

OPEC crude oil production drops to its lowest in nearly 30 years

Crude oil production of OPEC+ members for June reduced by almost 2 million barrels.

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Oil prices, OPEC crude oil production drops to its lowest in nearly 30 years

The over-performance by Saudi Arabia that has cut its crude oil production by 1 million barrels per day (more than mandated), has helped in reducing OPEC crude oil production to its lowest point in nearly 30 years, thus sending crude oil price soaring to about $42 support levels, and dampening growing concerns of COVID-19 resurgence.

In the month of July, a report from the International Energy Agency (IEA) showed a 108% compliance rate against 89% a month earlier.

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Crude oil production of OPEC+ members for June reduced by almost 2 million barrels, compared to the month of May showing 33.4 million barrels per day. This agreement by major oil producers has helped in limiting oil production.

READ MORE: NNPC GMD says recent oil price surge is cosmetic, driven by sentiments

The report from International Energy Agency (IEA) said, “On the supply side, global oil production fell sharply in June to stand 13.7 million barrels per day below the April level. The compliance rate with the OPEC+ supply agreement was 108%.”

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Data from the report also shows that in the month of June, major oil producer, Russia fulfilled its quota for reducing oil production by 100%.

“This solid performance by the OPEC+ group has been supplemented by substantial market-driven cuts, mainly in the United States,” the report added.

READ ALSO: Rising COVID-19 cases in world’s biggest economy falter crude oil prices

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Meanwhile, Edward Moya, senior market analyst at Oanda, in a note, said that Crude prices got a boost for the session, in part due to the “upbeat COVID-19 vaccine and treatment news” and a softer dollar, but U.S. benchmark prices remain “anchored below the $41 level and will likely struggle for any major moves” until after next week’s OPEC+ Joint Ministerial Monitoring Committee meeting.

He added that, “The demand outlook risks warrant a discussion for OPEC+ to consider extending production cuts into August.” 

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Patricia
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Stock Market

Nigerian bourse falls by 0.12% WoW despite gains from GTBank & Zenith

The NSE All-Share Index and Market Capitalization both depreciated by 0.12%.

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investors, Bulls gain momentum, as stimulus package lifts global financial markets, Bulls boost global financial market, gold hits 7 years high, Dangote, Tier-1 banks lead the bulls to close Nigerian stock market green

The Nigerian All-Share Index and Market Capitalization both dropped by 0.12% to close the week at 24,306.36 and N12.680 trillion respectively.

Nigeria’s bourse closed the week with a total turnover of 901.542 million shares worth N13.453 billion in 18,676 deals traded this week by investors on the floor of The Exchange. This is in contrast to a total of 961.833 million shares valued at N9.181 billion that exchanged hands last week in 20,058 deals.

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The NSE All-Share Index and Market Capitalization both depreciated by 0.12% to close the week at 24,306.36 and N12.680 trillion respectively.

Explore Economic Research Data From Nairametrics on Nairalytics

The Financial Services industry (measured by volume) led the activity chart with 629.368 million shares valued at N5.186 billion traded in 9,887 deals; thus contributing 69.81% and 38.55% to the total equity turnover volume and value respectively. The ICT industry followed with 59.506 million shares worth N5.161 billion in 684 deals. The third place went to the Consumer Goods industry, with a turnover of 57.136 million shares worth N1.385 billion in 2,993 deals.

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Trading in the top three equities namely; Guaranty Trust Bank Plc, Fidelity Bank Plc and Zenith Bank Plc (measured by volume) accounted for 293.678 million shares worth N4.042 billion in 4,334 deals, contributing 32.58% and 30.05% to the total equity turnover volume and value respectively.

25 equities appreciated in price during the week, higher than 13 equities in the previous week. 33 equities depreciated in price, lower than 59 equities in the previous week, while 105 equities remained unchanged, higher than 91 equities recorded in the previous week.

READ MORE: GTBank releases 2019 full year audited results

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Top gainers

RED STAR EXPRESS PLC up 18.52% to close at N3.52.

P Z CUSSONS NIGERIA PLC up 15.38% to close at N4.50.

STERLING BANK PLC. up 13.04% to close at N1.30.

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CORNERSTONE INSURANCE PLC up 10.00% to close at N0.55.

ZENITH BANK PLC up 9.51% to close at N16.70.

CHAMS PLC up 9.09% to close at N0.24.

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NIGERIAN AVIATION HANDLING COMPANY PLC up 9.00% to close at N2.18.

GUARANTY TRUST BANK PLC. up 7.93% to close at N22.45.

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FIDELITY BANK PLC up 7.19% to close at N1.79.

LAW UNION AND ROCK INS. PLC. up 7.00% to close at N1.07.

 

Top losers

CUSTODIAN INVESTMENT PLC down 10.91 to close at N4.90.

CONOIL PLC down 10.00 to close at N18.90.

BETA GLASS PLC. down 9.95 to close at N61.55.

MRS OIL NIGERIA PLC. down 9.78 to close at N12.45.

UNILEVER NIGERIA PLC. down 9.78 to close at N12.45.

LIVESTOCK FEEDS PLC. down 9.68 to close at N0.56.

AXAMANSARD INSURANCE PLC down 9.66% to close at N1.59.

BERGER PAINTS PLC down 9.63% to close at N6.10.

ARBICO PLC down 9.52% to close at N1.71.

UACN PROPERTY DEVELOPMENT COMPANY PLC down 9.09% to close at N0.90.

 

Outlook

The Nigerian bourse struggled on most reference levels all week, with the exception of most tier-1 banks, that put up a good show in terms of turnover and gains recorded for the week.

However, with daily case surges in COVID-19 caseloads in major cities around Nigeria, and the high volatility ongoing on Nigeria’s black gold (Brent Crude), Nairametrics envisages cautious buying as geopolitical and economic uncertainty strengthens across the spectrum.

Patricia
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Cryptocurrency

ChainLink’s digital coin skyrockets 388% in 130 days, still soaring

LINK continues to see sky-high daily active addresses.

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ChainLink’s digital coin skyrockets 388% in 130 days, still soaring

LINK, an altcoin powered on Chainlink’s decentralized network, is smashing BTC and many other fast-growing digital coins, in terms of the rate at which it has been appreciating in dollar terms lately.

Data from a crypto analytic ranking firm, Coinmarketcap, shows the 12th most valued crypto asset is presently valued at over $2.2 billion dollars (1.2 times more valuable than Nigeria’s most valued bank) with a daily trading volume of over $595 million. It traded as low as $1.60 dollars to its present-day value of over $6.20, showing a percentage gain of more than 387.5% as the price keeps drifting up.

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Crypto behavior analytics platform, Santiment, in it feeds detailed that its on-chain volume, along with social volume and daily active addresses, is a “great triple thread to track.” These macros help track whether a given crypto asset is poised to continue its bullish momentum, and in LINK’s case, it shows that the momentum is still on.

READ ALSO: 3 Crypto exchanges control about 14.3% circulating BTC supply

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About Chainlink

Chainlink is a blockchain that is designed to bridge the space between blockchain technology-based smart contracts (created by ETH), and other user programs. Since blockchains by principle can’t have access to data outside their paths or networks, a defi instrument is needed to facilitate data feeds in smart contracts, and Chainlink helps to solve such needs.

READ MORE: Tether market capitalization surges close to $10 Billion

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Among the leading 20 cryptocurrencies by market capitalization, it is viewed as the only top-20 token with a broad, adaptable business application that is easily explained to an average person. Chainlink is the first successful Blockchain application to interact with the outside world.

Patricia
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