JUNE 12, 2018: AFRICAN STOCK EXCHANGES UPDATE.

The daily review of African Stock Exchanges  is still for now limited to Nigeria,  Kenya  and Ghana Stock  Exchanges. More are to be added.

NIGERIA:

STILL RECOVERING

The Nigerian Stock  Exchange  continued to recover Tuesday June 12, 2018 although at less than fantastic growth rate.

The All share index rose by 0 83% to 39169.04 as 27 price gains  compared to 21 drops were recorded. Traded volume  though  dropped from 603m to 341.48m shares just like number of deals down further  to 3769 from 3832.

On the other hand,  traded value  grew to N5.193bn from N3.88bn principally as offloads were recorded  in higher priced equities.

Some of the price gainers took quite a leap led by Seplat Petroleum  up N57.9 or 8.14% as it witnessed  54 deals for 0.06m shares worth N44.19m.

Seplat opened the day at N745 per  share then closed at day high of N769 compared to N711.1 per  share on Monday.

Top priced Nestle Nigeria also recorded quite a leap closing up by N44.8 or 3.09% per share with  32 deals for 0 06m units worth N90.43m.

11 Plc's N8.7 or 4.99% per  share rise was less remarkable  but high too because  no price drop for the day came  to half that. The company  recorded 19 deals involving  0.054m shares worth N9.64m.

Last of the major price drops was N3.2 or 1.36% per share recorded by Dangote  Cement while 2.18m of its shares changed hands in 87 deals worth  N522.66m.

Only Guinness  Nigeria recorded above N1 price drop.  It lost N2.75 or 2.76% per  share  as it found and closed at N97 per share as against  N99.75 previously and witnessed  32 deals for 2.35m shares valued at N228.75m.

Relatively,  quite a number of offloads were recorded  during the day led by 82.65m sold  out of the shares of United Capital in 153 deals worth N262.65m as it ended up N0 14 per share.

Others were 56.88m shares of Dangote Sugar offloaded in 157 deals worth 2nd highest N1.185bn, African Prudential's 49.57m exchanged for N213.15m and Guaranty  Trust Bank's  45.27m exchanged through top ranked 286 deals worth leading N1.916bn as it ended N0.1 per  share down.

KENYA:

REVERSE GEAR

Compared to a fairly major 1.62 points rise on Monday,  the Nairobi  Securities. Exchange  went on reverse gear of sorts Tuesday June 12, 2018 as the All Share index losing 0.03 points to close at 178.32.

Unlike for Monday, top weighted Safaricom had no hand in this as it closed firm while 19 price drops and 16 gains were recorded.

Interestingly,  Williamson Tea that led price losers Monday with Ksh 3 per share drop, paced gainers Tuesday with the same margin as it recovered  and closed at Ksh142 per share from Monday's  Ksh  145 while witnessing  deals for only 1300 units.

On the other hand,  price drops were led by Ksh 2 per share  decline  in Jubilee  Holdings and East African  Breweries.

For Jubilee it almost a solo  run in an insurance  sector that was more bullish than bearish.  It hit a day high of Ksh 500 per share,  and a low of Ksh 495 before closing at Ksh 498 per share.

On the other hand,  EAB looked set to gain as it hit day high of Ksh 223 per  share but slipped to close at Ksh 220 as against  Ksh 222 per share previously.

All trading indicators closed up with traded volume  coming to 34.56m shares from 23.339m, traded value  ending at Ksh 994.34m compared to Ksh 384.648m on Monday and deals struck rose to 1516 from 1064.

Top volume  was recorded by Safaricom with deals for 13.45m shares worth Ksh 405m as they were traded at between  Ksh 30 and 30.50 per share  before the equity closed  firm.

Britam Holdings too recorded good volume as 9.568m of its shares were traded at between  Ksh 13.60 and 15.85 per  share worth Ksh 150m.

Almost the same good volume  for Equity Group which paced the banking sector with deals for 3.862m of its shares worth  Ksh 191m at between  Ksh49.25 and 49.50 per share.

Traded volume  at the bond market recovered considerably  from Monday's  Ksh 2bn to Kay 5.149bn.

GHANA:

COMPOSITE INDEX DOWN 0.88%

At the Ghana Stock Exchange,  available  figures  were for Monday June 11 2018 and they indicate that the market's  composite index continued downwards  by 0 88 % or 26.75 points to 3011.66.

This was mainly as only two equities,  Republic Bank and Unilever Ghana recorded price gains while Access, Ecobank Ghana,  Societe Generale  Ghana,  Ghana  Commercial  Bank, and Ghana Oil Company went down.

Traded volume  for the day was 1.986m shares with Ecobank Transnational  Incorporated  pacing with deals for 1.64m of its shares follower by Starting Products Ltd in which 99,000 shares changed  hands.

Naturally,  the Ghana update is evolving  and more detais are on the cards in the future.

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