The Nigerian Stock Exchange closed the week on a positive note, as the All Share Index appreciated by 0.09% to close at 36,636.97 basis points. Year to date, the index is down 4.20%.
31 stocks appreciated in price during the week, higher than sixteen 16 in the previous week. 48 equities depreciated in price, lower than fifty-nine 59 equities of the previous week, while 90 stocks remained unchanged, lower than the 94 equities in the previous week.
Here are the top gainers and losers in this week’s trading session:
Gainers
Cutix Plc
Cutix Plc was the best performing stock this week, appreciating by 46%. It opened at N3.00 and closed at N4.38, up N1,38. The rally in the share price is due to the company’s declaration of a N0.20 dividend and one for one bonus. Year to date, the stock is now the second-best performing on the NSE, up 117.9%.
Cement Company of Northern Nigeria (CCNN) Plc
CCNN (also known as Sokoto Cement) opened the week at N24.90 and closed at N31.35, up N6.45 or 25.90%. Year to date, the stock is up 200% and is the best performing on the NSE.
Continental Reinsurance Plc
Continental Reinsurance gained 12.67%. The stock opened at N1.50 and closed at N1.69, up N0.19. Year to date, the stock is up 20.7%.
The company this week released its results for the period ended June 2018. Gross written premium increased from N6.5 billion in 2017 to N7.7 billion in 2018. Profit before tax rose from N705 million in 2017 to N928 million in 2018. Profit after tax also increased from N515 million in 2017 to N712 million in 2018.
FBN Holdings
FBN Holdings opened at N9.05 and closed at N10.00, up N0.95 or 10%. Year to date, the stock is up 9.7%.
The bank yesterday released its results for the period ended June 2018. Interest income dipped slightly from N232 billion in 2017 to N225 billion in 2018. This represents a 3% drop, in comparison with the corresponding period in 2017.
Profit before tax, however, increased from N35.6 billion in 2017 to N38.8 billion in 2018. This represents an 8.9% increase year on year.
Profit after tax (from continuing operations) also increased from N29.4 billion in 2017 to N33.5 billion in 2018. This represents a 13.9% increase compared to the corresponding period in 2017.
Caverton Offshore Support Group Plc
Caverton appreciated by 10% during the week. The stock opened at N1.90 and closed at N2.09. Year to date, the stock is up 62%.
The company this week released its results for the period ended June 2018. Revenue increased from N10.1 billion in 2017 to N14.2 billion in 2018. Profit before tax jumped from N938 million in 2017 to N1.5 billion in 2018. Profit after tax also rose from N594 million in 2017 to N962 million in 2018.
Vitafoam Nigeria Plc
Vitafoam Nigeria Plc opened at N3.25 and closed at N3.57, up N0.32 or 9.85%. Year to date, the stock is up 8.3%.
The company this week released its results for the 9 months ended June 2018. Revenue grew from N14.7 billion in 2017 to N16 billion in 2018. Profit before tax jumped from N258 million in 2017 to N788 million in 2018. Profit after tax also increased from N133 million in 2017 to N515 million in 2018.
Capital Oil Plc
Capital Oil Plc appreciated by 8.70% during the week. The stock opened at N0.23 and closed at N0.25, up N0.02. Year to date, the stock is down 50%.
Diamond Bank Plc
Diamond Bank opened the week at N1.30 and closed at N1.40, up N0.10 or 7.69%. Year to date, the stock is down 13.3%.
Skye Bank Plc
Skye Bank also gained 7.69% during the week. The stock opened at N0.65 and closed at N0.70, up N0.05. Year to date, the stock is up 34%.
The bank this week released a notice to the Nigerian Stock Exchange (NSE) informing it of a board meeting that will take place next month. Among the issues to be considered are its results for the second quarter ended June 2018.This could be an indication of the company’s plans to release a backlog of results dating to 2016.
Sterling Bank Plc
Sterling Bank rounds up the top 10 gainers list for the week. The stock opened at N1.36 and closed at N1.45, up N0.09. Year to date, the stock is up 30.6%.
Losers
RAK Unity Petroleum Co Plc
RAK Unity Petroleum was the biggest loser this week. The stock shed 20%, opening at N0.50 and closing at N0.40.
UACN Property Development Company (UPDC)
UPDC opened at N1.91 and closed at N1.55, shedding N0.36 or 18.85%. Year to date, the stock is down 44.4%.
Secure Electronic Technology Limited (formerly NSL)
Secure Tech opened at N0.48 and closed at N0.40, down 16.67%. Year to date, the stock is down 20%.
Royal Exchange Plc
Royal Exchange Plc also lost 16.67% during the week. The stock opened at N0.36 and closed at N0.30, down N0.06. Year to date, the stock is down 40%.
This week marks the first full week of trading for the stock after the suspension placed on it by the Nigerian Stock Exchange (NSE) was lifted.
Lafarge Africa Plc
Lafarge Africa opened at N32.50 and closed at N27.50, down N5.00 or 15.38%. Year to date, the stock is down 38.7%.
The company this week released results its results for the half year ended June 2018. Revenue rose by 5% from ₦154.84 billion in H1 2017 to ₦162.29 billion in H1 2018.
Loss before tax dropped to ₦6.35 billion for the period ended June 2018 as against ₦18.16 billion recorded in the comparative period in 2017. It recorded a loss after tax of ₦3.9 billion in H1 2018 as against a profit after tax of ₦19.7 billion recorded in H1 2017.
It also disclosed plans to raise N90 billion through a rights issue.
Forte Oil Plc
Forte Oil shed 13.9% this week. The stock opened at N27.90 and closed at N24, down N3.90. Year to date, the stock is down 46.9%.
NPF Microfinance Bank Plc
NPF Microfinance opened at N1.80 and closed at N1.57, down N0.23. Year to date, the stock is up 37.6%.
The bank this week announced the appointment of two non-Executive Directors.
Abbey Mortgage Bank Plc
Abbey Mortgage Bank Plc opened at N1.30 and closed at N1.17, down N0.13 or 10%. Year to date, the stock is also down 10%.
Presco Plc
Presco Plc lost 9.98% during the week. The stock opened at N66.15 and closed at N59.55, down N6.60. Year to date, the stock is down 13.1%.
PZ Cussons
PZ Cussons rounds up the top ten losers for the week with a 9.82% decline. The stock opened at N16.80 and closed at N15.15. Year to date, the stock is down 26.5% and is trading at its year low.
