HENATES

It was a positive day on Wednesday April 24, 2019 after no change recorded on Tuesday at the Ghana stock exchange. The Composite Index not only closed up, above average traded volume on Tuesday was surpassed as well. The GCI ended the day at 2395.37 up 3.4 points on Tuesday's 2391.97 as 3 price gains and only one drop was recorded. The lone decline was by Enterprise Ghana as it slipped GHs 0.01 per share to close at last deal price of GHs 2.15 per share compared to GHs 2.16 previously. Fam Milk closed up Ksh 0.2 per share , to lead price gainers. It had closed at last deal price of GHs 8 per share compared to GHs 7.8 per share on Tuesday Ghana Commercial Bank gained GHs0.04 per share  as it closed at last deal price of GHs 4 per share compared to GHs 3.96 on Tuesday GCB had recorded day high traded volume of 315,400 shares but closed with bid and offer moving further apart at GHs 3.96 and 4.5 per share respectively. The last price was also GHs 0.02 per share by Total ...

Which way for the All share index at Nairobi stock market was clearly a tug of war of sorts on Wednesday April 24, 2019 between price losers and gainers. Eventually, the gainers had the upper hand as the ASI rose by 0.24 points to 158.89 in spite of more price losers than gainers. There were 26 price drops compared to 15 gains and top 5 of decline was crowded as well but the ASI closed up on the back of equities with high market capitalisation. Leading price drop was by Limuru Tea as it closed at Ksh 450 per share, down Ksh 47.75 when compared  to Ksh 497.75 per share on Tuesday. There were other major price drops too. Williamson Tea shed Ksh 5 per share; Stanbic Holdings declined by Ksh 4 per share;  East African Portland Cement lost Ksh 1.85 per share and Diamond Trust Bank eased by Ksh 2.50 per share. On the other hand, British American Tobacco led price gains with Ksh 19 per share or 3.49% rally from Tuesday's dive while ex-div. It had crashed by the same margin on Tu...

At the Nigerian stock exchange, the two highest priced equities are Nestlé Nigeria and Seplat Petroleum so when their prices tumble, something must give. It did on Wednesday April 24, 2019 as leading tumble by both of them dragged the All share index down 0.59% to 29,898.31. This was despite more positive mood of the market which resulted in 21 price gains and 14 drops. The pressure downwards was even easier to apply because only one out of the 21 price gains was major while the 2 blue chips were joined by 3 other drops on the top 5 scale. Nestlé shed N30 or 1.90% per share  while witnessing 28 deals for 0.162m shares worth N250.701m. On the other hand, Seplat dropped by N25 or 4.39% per share in 19 deals through which 0.032m units were exchanged for N17.446m. The market leading price gainer on Tuesday was 11 PLC as it closed up N4.9 per share. On Wednesday, however, it shed to same amount or 2.72% per share while 0.050m of its shares were traded for  N8.754m. The 2 other m...

The Group Financial Officer for Ecobank Transnational Incorporated Greg Davis, has affirmed that the group's $450m euro bond issued at the London Stock Exchange main market was oversubscribed. In a notice He issued on Thursday before the Easter, Davis failed to give the % oversubscription but confirmed that it was embraced globally by investors from the UK, US, Europe, Middle East, Asia and Africa. The 5 year unsecured note was issued at 9.5% interest rate payable semiannually in areas. The money was raised for general  corporate purposes, added Davis and for refinancing of existing obligations. He quoted the Group CEO, Ade Adeyemi as saying of the bond's successful outing: "This is first for Ecobank and I am excited at the prospects of the group as we continue to the second phase of our 5 year roadmap to leadership strategy". On his part, Davis described it as a reflection of the appetite of high quality and real money institutional investors globally and...

Not one equity recorded any price change at Ghana Stock Exchange on Tuesday April 23, 2019 after the easter break. This was despite trade recorded in quoted companies for above average total daily traded volume. With the no change, top price equity in the market remained Standard Chartered Bank which closed at GHs 19 per share. This was also SCB's lowest price in a year and in spite of witnessing 2nd highest traded volume of 10,750 shares worth leading GHs 204,250 on Tuesday at the firm price. Its top price for the was GHs 21.44 per share. Two other equities were also priced in double digit: Unilever Ghana also closed at year low of GHs 17.69 per share and high of GHs 17.78 while Toluworks has been firm at GHs 11.94 per share through the year  Both recorded no deals. A total of 166,822 shares were traded compared to 144,651 on Thursday with MTN Ghana accounting for 150,000 units traded at firm GHs 0.7 per share in that the minute GHs 0.001 per share gain recorded, did not...

Relatively low investors interest at the Nairobi Securities Exchange persisted on Tuesday April 23, 2019 after the easter holidays. The number of deals struck once again fell below 1000 considered average. It closed at 943 making it 3 consecutive trading days below after almost 2 weeks run was punctuated on Tuesday last week. Traded volume continued to be fairly low too although on Tuesday there was an increase to 14.556m shares valued at Ksh 530.414m compared to 10.680m units worth Ksh 429.614m on April 18, 2019. So dry in fact that between banking sector and Safaricom above 90% of traded value was accounted for. The banking sector was responsible for Ksh 372m traded value or 70.23% with KCB Group leading the sector and market as 6.992m of its shares were exchanged for Ksh 314m at between Ksh 44.80 and 45.20 per share. Equity Group also chipped a bit with deals struck for 1.028m shares worth Ksh 43m while Cooperative Bank, down 1.41%, recorded 432,600 shares traded for Ksh 6...

After going down on Thursday April 18, 2019, to close the 4 day week at 30,086.31, the All share index at the Nigerian stock exchange eased marginally by 0.03% to 30,076.0 on Tuesday after the easter holidays. However, this was despite there being more price gains (20) than losers (17) and in between there were 11 price changes too minor to matter. The ASI declined too occurred in spite of N2 or 1.06% per share increase the share price of Dangote Cement, the market's leader by capitalisation. DangCem closed with the 2nd highest gain while recording 21 deals for 0.037m shares worth N6.625m. The lead gain was recorded by 11 PLC ( erstwhile Mobil Nigeria) as it found and closed at N179.9 per share, up N4.9 or 2.8% on April 18's N175 per share. The only other major price gainer was Dangote Flour up N1.05 or 9.81% per share in 145 deals involving 8.861m shares worth N97.960m. Other top 5 price gainers were FBN Holdings up  N0.35 or 4.58% per share and Vitafoam which clos...

The year 2018 ended with a huge claim on Britam Holdings PLC which it could not absorb: Loss of Ksh 6.90 on each Ksh 100 income within the year. This compares very unfavourably with profit of Ksh 2.69 on each Ksh 100 income in 2017. Britam Holdings is one company with very many sources of income but in 2018 all the major streams failed to deliver the goods. Gross Premium had increased by 4.43% to Ksh 24,325.1m but 8.78% growth in reinsurance to Ksh 3263.5m reduced the final  earned premium  to Ksh 21,061.7m, up only 3.76%. With this marginal growth in its core income, and relatively poor performance from some other streams, total income ended up by only 1.91% to Ksh 32,748.2m. The further slow down came from 25.5% decline in Other income to Ksh 195.1m; 16.5% decrease in property income to Ksh 507.2m and 13.1% drop in fund management fees to Ksh 661.1m Growth in other income streams were fairly OK but not good enough to counter the downward pull of the poor streams. For ex...

The bond market was more active and equity just barely up at the Nairobi Securities Exchange as the 4-day week drew to a close on Thursday April 18, 2019. At the bond market, traded value closed the week at Ksh 19bn in spite of holy day on Friday compared to Ksh 13bn the previous 5 day week. The high point of the 4 days was Monday when 88 deals worth Ksh 6.34bn was recorded and it continued to ease down daily after that. It dropped to Ksh 5.416bn in 78 deals on Tuesday; Ksh 4.423bn  in 79 deals on Wednesday before closing at Ksh 3.167bn in 88 deals by Thursday. Trading activity during the 4 days at the bond segment was clearly in contrast to traded volume and value at the equity segment which dropped to 34.6m shares worth Ksh 1.2bn compared to 78.7m shares worth Ksh 2.3bn the previous week. Traded volume through the week did not 12m shares any day of the 4 days with top line being 11.451m shares traded in 1050 deals worth Ksh 290.348m on Tuesday and hit week low on Wednesday ...

Propelled by more positive outlook, the Nigerian Stock Exchange ended 4 day week on Thursday with the All share index up 1.74% on previous week's level. It closed Thursday, the last trading day because of Easter Holidays, at 30,086.31, up 0.39% on Wednesday's 29,970.86. The week had taken off with 0.14% drop to 29518.85 on Monday but recovered from then on till the week's end. It rose to 29746.2 on Tuesday then further to 29970.86 by Wednesday. The Thursday rally was driven by Dangote Cement as it paced 25 price gains that overwhelmed 13 price drops even though margins of drop were higher. DangCem was the sole equity with up to N1 per share as it rose at this bar or 0.53% per share to close at N188 per share after hitting day high of N190 and low of N189 per share compared to N188 on Wednesday. DangCem witnessed 37 deals through which 0.291m shares were exchanged for N55.166m. As a matter of fact, 17 more price gains were recorded within the day but they were to...

At the Ghana Stock Exchange, the composite index closed Thursday April 18, 2018 at 2391.97 compared to 2401.18 on Wednesday. By implication, because Friday is a holiday, the GCI dropped by 0.58% in a 4 day week when compared 2405.82 with which it closed on Friday April 12, 2019. Through the 4 days, the GCI only rallied once on Wednesday April 17 to 2401.11. It dropped to 2400.35 on Monday then eased some to 2396.18 on Tuesday   before the exceptional rise on Wednesday. Thus the low for the week was Friday's 2391.97 and it was recorded as 4 price drops and 1 gain occurred The lone price gain was by Ghana Commercial Bank while recording exchange of 6500 shares valued at GHs 25,740. GCB closed at the last deal price of GHs 3.96 per share up GHs 0.01 on GHs 3.95 per share on Friday.What's more, it may gain more next because offer price jumped to GHs 4.5 per share after the last deal. Top price loss was Ecobank Ghana's GHs 0.2 per share recorded as it closed at the l...

On Wednesday April 17 2018, the Ghana Composite index at the Ghana Stock Exchange finally recovered from days of closing down but as price gainers and losers came to 2 and 3 respectively. The GCI closed at 2401.11 up on 2396.18 on Tuesday and compared to 2400.35 on Monday. Of the price loserss, Standard Chartered Bank paced with GHs 0.5 per share decline as its 160 shares were traded at GHs 19 per share as against GHs 19.5 on Tuesday.  This was a new low for SCB but offer price edged upwards by day's end to GHs 19.49 per share leading to mismatch as bid stayed firm at the closing price. Ghana Commercial Bank shed GHs 0.013 per share to close at  GHs 3.95 per share after recording deals for 2600 units at GHs 3.96 per share with which it closed the previous day. However, the gap between offer and bid prices widened resulting in mismatch of GHs 3.9 per share on bid and 3.96 on offer. The other price drop was by Guinness Ghana as 100 of its shares were traded at GHs 2.18 per share, dow...

Inflation rate in Nigeria is still not in a hurry to drop below 11% year on year. According to figures for March on Composite Price index released by the National Bureau of Statistics, by March 2019 the all items inflation rate eased to 11.25 % year on year compared to 11.31% in February The good news apparently is that it is going down at least after leaping to all time high during 2016 depression and early 2017 till it started dropping  January 2017. For a while the decline was fairly high but it has become a very slow decrease since May 2018 when it finally crossed from the 12% range to 11%. The March easing was driven other items except food the index of which actually rose to 13.5% year on year from February's 13.47%. Urban inflation also continues to be above the national average and in March says the NBS, it was 11.54% year on year though lower than February's 11.59%. In contrast, rural index by March stood at 10.99% year on year compared to 11.05% previously...

At the Nigerian Stock Exchange on Wednesday April 17, 2019 top priced Nestle Nigeria paced market gains for the 2nd day thus helping to drive the All share market index up Nestle added N79.7 or 5.31% per share to close at N1580 per share after day low of N1575 representing all day rise from Tuesday's closing N1500.3 per share. This was as Nestle recorded 84 deals for rare 0.932m shares for leading N1.472bn. Earlier on Tuesday, it had more or less done a solo with a lone above N1 per share price change through a N48.1 or 3.31% per share top up. In other words, in 2 days it gain a total of N127.8 per share while recording rare exchange of above 1m shares. In traded value, Nestle thus accounted for almost  50% of the N3.227bn realised by investors on Wednesday from exchange of 216.012m shares in 4025 deals compared to 2979 deals for 321.357m shares valued at N4.657bn on Tuesday. In terms of both number of deals and volume, however, the lead was by Access Bank, up N0.6 or 9...

After raising hopes for more above average number of deals on Tuesday, April 16, the Nairobi Securities Exchange closed Wednesday April 17 back in below average deals. It recorded only 820 deals compared to 1050 on Tuesday which was more of a relief from 9 continuous days of closing below 1000 deals up to Monday. Besides, the low deals were struck for the exchange of equally lowly 5.517m shares for Ksh 273.807m compared to 11.451m shares traded on Tuesday for Ksh 290.348m. Virtually every sector was relatively dry although traded value was boosted by deals recorded in Diamond Trust Bank; East African Breweries Stanbic Holdings and Jubilee Holdings. DTB witnessed rare 993,200 shares traded at between Ksh 123 and 125 per share for a total worth of Ksh 124m. It thus contributed the bulk of the Ksh 173m traded value or 63.37% of market total recorded by the banking sector. In the same sector, Stanbic Holdings also recorded rare exchange of 78,300 of its shares for Ksh 7.9m while ...

On all counts, the Ghana Stock Exchange remained low on Tuesday April 16, 2019 except in quantum trade which closed above average. Compared to Monday when 7 equities recorded deals for the day, Tuesday's 6 was low but not in terms of traded volume. On Monday, only 35,022 shares were traded compared to 244,354 shares on Tuesday especially as daily average was around 100,000 shares. However, Ghana Composite Index, continued to slide shedding 4.17 points to 2396.18 from Monday's 2400.35 unlike 5.48 points drop on Monday itself compared to Friday. This time there were only 3 recognised price changes and all were downwards. MTN Ghana actually lost GHs 0.001 per share but technically that amounted to firm close at GHs 0.69 per share because the loss was too minute. However, this was after leading 212,000 of its shares worth GHs 146,019 were traded at GHs 0.68 per share and it was indeed at this price offer ended the day, pointing at possible decline next trading. Top pr...

Nestlé Nigeria, yet in one of those leaps it is known for, on Tuesday April 16, 2019 almost single handedly drove the All share index at the Nigerian stock exchange up 0.85% to 29,746.24. Sure, the day closed twice as many price gains as there were price drops ( 24 to 10) and additional 15 gains too minor to record; Nestle it was that lone ranged with the only above N1 per share price change for the day. Being the highest priced equity in the market although with relatively low issued share capital, it thus was in a position to move the ASI its way aided by other price gainers Nestle Nigeria leapt by N48.1 or 3.31% per share to close at day high N1500.3 per share after a low of N2500.1 compared to Monday's N1452.2 per share. In terms of trade though, volume recorded at 0.145m shares was not much but it taken in 52 deals worth N218.012m. Interestingly, Nestle paced price drops the previous day, Monday with N3.8 or 0.26% per share drop while recording 29 deals for 0.241m sh...

Since this month, investors interest as expressed by number of deals struck has been rather lukewarm at Nairobi Securities Exchange. Come Tuesday, April 16, are the investors renewing interest? May be. At least after 9 trading days of closing with below 1000 deals struck in the market, on Tuesday it  climbed back above this mark as 1050 deals were recorded. Indeed, since the month, above 1000 was recorded only twice; the other trading in April being 2nd when 1075 deals were sealed. Closest to the 1000 mark was April 10th's 996 deals followed by 946 on the 9th while the lowest was 437 deals struck on April 1, 2019. On Monday, the market closed with the 3rd lowest deals of 784 after Friday's 795, the 4th lowest. It remains to be seen the Tuesday above 1000 was just a punctuation as it happened on April 2nd before the 9 days below. Traded volume and value also recovered but still below average as 11.451m shares were exchanged for Ksh 290.348m compared to 7.038m worth K...

The bond market came alive at Nairobi Securities Exchange on Monday April 15, 2019 as the equities segment was more low key. A total of Ksh 6.34bn worth of bonds were traded in 88 deals as against just Ksh 0.972bn in 58 deals on Friday. Most active in terns of value, as usual were government stocks with nominal value above Ksh 50m although those below Ksh 50m with deals were more in number. There were 14 of below Ksh 50m nominal value with deals but highest traded value was Ksh 27m. On the other hand, there were 11 stocks with deals among those with above Ksh 50m nominal value and top was Ksh 1.45bn worth traded in 15 year In structure Bond issued in 2012. Sell or buy back also active closing with deals in one stock valued at Ksh 500m and there was no activity in corporate bonds. The bond rally turned out to be good tonic for the day because at the equities segment, traded value, volume and number of deals declined into leaner levels when compared to Friday. A total of 78...

The All share index at the Nigerian stock exchange shrunk by 0.14% to 29,518.85 on Monday April 15 2019 despite more positive outlook indicated by 24 price gains and only 18 drops. This was after rising by 0.73% on Monday as 28 gains and 8 drops were recorded. The ASI was driven downwards by decline by giant equities Nestle Nigeria ( by price) and Dangote Cement ( by market capitalisation). Nestle paced price drops with N3.8 or 0.26% per share drop to N1452.2 per share which itself was a rally from day low of N1450 per share compared to N1456 per share on Friday. This was as it witnessed 29 deals for 0.241m shares valued at N350.054m. On the other hand, Dangote Cement followed closely with N3 or 1.59% per share decline in 54 deals for 0.253m shares worth N47.905m. All other price drops were below N1 per share with Flour Mills of Nigeria at 3rd place with N0.45 or 2.67% per share decline while 50 deals were sealed for 1.740m shares worth N28.310m. From the other end of the...

At Ghana Stock Exchange Monday April `5, 2019, of the 7 equities that closed with trade, only Toluworks Ltd ended up without a price change. With only 70 shares odd lot traded, its volume was not the lowest but the shares were exchanged at firm GHs 11.94 per share, which turned to be an exception to the rule for the day. From available records, MTN Ghana witnessed the highest traded volume for the day: 23,800 shares. They were traded at firm price of GHs 9.7 per share but MTN went on to close the day at GHs 0.69 per share; down GHs 0.01 per share. Whats more, bid price slipped some more to close at GHs 0.68 per share but this led to mismatch as offer stayed at opening GHs 0.7 per share. Benso Oil Palm Plantation recorded deals for 0,200 shares while closing at the last deal price of GHs 4.`3 per share, down GHs 0.02 per share from Friday's GHs 4.15 per share. However, offer price shut up yo close at GHs4.73 per share while bid reverted to GHs 4.13 per share. Three other equities al...

Ghana Stock Exchange shrunk in the week ended Friday April 12, 2019 compared to previous week. The Ghana Composite Index closed Friday at 2405.83, down 38.6 points or 1.58% on previous week's closing 2444.43 which itself had declined by 0.44 % or 10.08 points. Of the 5 days of the week, the GCI only rallied on Thursday and declined every other day. On Monday it closed at 2414.74, down 29.69 points then slipped further to 2412.25 on Tuesday and then, 2411.87 on Wednesday. It was from here it rallied to 2415.23 on Thursday before ending the week on Friday at 2405.83, that is down again by 9.40 points. The Friday decline was in spite of 2 equities each with price  gains and drops. Ghana Oil, which incidentally also recorded top trade for the day, gained GHs 0.22 per share  to close at last deal price and new low of GHs 2.2 per share compared to GHs 2.42 on Thursday. This was while 28,100 of its shares were traded for GHs 61,842. The other price decline was by Societe General...

In spite of a two day rally on Thursday and Friday, the Nairobi Securities Exchange still closed down when compared to previous week. On Friday, the All share index rose by 0.38 points to 157.91 after 0.09 points rally on Thursday but both did not stop the ASI from being 1.61 points or 1.01% down on previous week's closing 159.52. Yet the damage was actually done in  3 days out of the 5  day week. Earlier the ASI had gone down by 0.28 points on Monday, then by 0.85 points on Tuesday before Wednesday's decline by 0.19 points. The Friday rally was low key and came about as 20 price gains and 14 drops were recorded most of them marginal. Kapchorua Tea recorded the lone major price decline with Ksh 5.50 per share tumble to close at Ksh 64 per share after day high of Ksh 69.50 and low of Ksh 63 per share. No other price drop was up to Ksh 0.50 per share whereas  there were 2 major price gains. East African Breweries closed at Ksh 209.75 per share , up Ksh 1.75 on Thursday...

On Friday April 12, 2019, at the Nigerian Stock Exchange, deals trickled down to end the week although market mood was positive. Of the day's top 10 equities by price change downwards and upwards, only 2 ended with deals above 100; all else actually posted less than 50 each. The one with lowest number of deals was ABC Transport with lone deal for 100,000 shares worth N0.04m while placing 5th by price decline of N0.04 or 9.09% per share. In sharp contrast, lead price drop was by FBN Holdings down N0.3 per share or 3.85% in 265 deals for 25.078m shares valued at N190.380m. In fact, FBN turned out to be the only top 5 price loser with deals above 10. NEM Insurance down N0.19 or 8.64% per share recorded 7 deals for 0.210m shares valued at N0.442m; Ikeja Hotel posted 5 deals for 0.151m shares worth N0.258m while losing N0.18 of 9.73% per share and AXA Mansard posted 9 deals involving 0.230m shares worth N0.437m while shedding N0.1 or 5% per share. On the part of top 5 price gainers, the...

WPP ScanGroup in Kenya just released brief on its 2018 annual report and deductions from it were clear: Revenue did not grow at fantastic rate within the year but there is no cause for complain. The year ended fairly well. Reason? Well, says the company, acquisition and activities of its research arm, TNS Kartar Research and digital technology opened new windows in Nigeria and indeed, West Africa that countered the challenge back home in Kenya. Added to these was good control over operating and administration costs which limited its growth to just 4.13% to Ksh 3863.9m while generating core revenue growth of 9.27% to Ksh4504.9m. The net result was that operating profit grew by 55% to Ksh 641m compared to Ksh 412.3m in 2017. Hence that the company's profit before tax rose by 37.8% to Ksh 959.9m from Ksh 696.4m was because this core business was solid enough to take in its stride impairment provisions totalling Ksh 23.76m not made in 2017. Of course, this base was also boosted by 49.8...

Ghana Oil PLC, on Wednesday April 10, 2019 lone ranged at the Ghana Stock Exchange by recording the lone price change for the day. GOil recorded GHs 0.01 per share drop as it closed at last deal price of GHs 2.42 per share compared to GHs 2.43 per share on Tuesday. This was also GOil's new low and it was clocked as 36,000 of its shares were traded. In view of this lone decline, the Ghana Composite Index eased to 2411.87 from previous 2412.25. Of course, Tuesday's record 14m plus offload in MTN Ghana could not be replicated  but MTN still paced traded volume as 566,000 of its shares were exchanged with last deal price being Ksh 0.69 per share. However, MTN Ghana recovered from this GHs 0.01 drop by closing firm at GHs 0.7 per share after the deals were struck. Interestingly, MTN Ghana bid and offer closed the day at GHs 0.68 and 0.69 per share respectively. Ecobank Transnational Incorporated also closed firm at GHs 0.14 per share while 50,000 units were traded but it c...

For the 4th day on Wednesday April 10, 2019 the All share index at the Nairobi stock market declined making it downwards all the way since this week. The ASI dropped by 0.19 points to 158.20 as 19 price gains and 21 drops were recorded. It was a day of cautious price making resulting in low all round Ksh price changes. The price gainers were paced by Standard  Chartered Bank up Ksh 1.50 per share to close at Ksh 209.75 after touching day high of Ksh 212 per share and low of Ksh 205 compared to Ksh 208.25 per share on Tuesday. There were no other gains above Ksh 1 per share. The same scenario was repeated among price drops with only Unga Group ending down significantly Unga shed Ksh 1 per share as it found and closed at Ksh 31.70 per share compared to Ksh 32.70 previously. It looks like this week will end with lowest number of deals for a long while. For the 5th day which covered all 3 days of this week so far, number of deals struck rounded up below 1000. On Wednesday tho...

After another 2 days down, the Nigerian stock exchange got yet another reprieve on Wednesday April 10, 2019 as the All share index edged up by 0.12% to 29,193.42 It was a day of above average price changes and almost evenly shared too between gainers and losers but it mostly cautious price discovery. There were 24 price gains and 18 drops with all except 3 below N1 per share. The exceptions were distributed two price drops and one gain. The lone major gainer, Dangote Cement, no doubt made a difference in the ASI closing upwards. Compared to Tuesday when it joined others in driving the ASI down with N0.5 per share drop, DangCem ended up this time around. It led price gainers with N1 or 0.54% per share rise N186 from Tuesdays N185 per share while recording 92 deals for 1.149m shares worth N213.125m. In contrast, there were 2 major price drops and both were N1 per share. Cement Company of Northern Nigeria eased by N1 or 5.88% pee share to close at N16 as against Tuesday's N1...

In a very rare fashion seen only when new issues are listed on the exchange, record high shares of MTN Ghana were offloaded at Ghana Stock Exchange Tuesday, April 9, 2019. A total of 14.035m of MTN's shares were traded at firm GHs 0.7 per share although it ended with price mismatch as bid price dropped to GHs 0.68 per share later Sure, hardly a day passes at the market without MTN shares being traded. On Monday, 7000 units were traded at same GHs 0.7 per share and mismatch resulted as well from bid price drop to GHs 0.69 per share later. With the record offload, market traded volume touched a high of 14.048m shares as 8 other equities ended with trade. However, in terms of trade, Societe Generale Bank followed MTN volume from a very long distance with 5000 shares exchanged at GHs 0.87 per share. The Ghana Composite index eased to 2412.25 from 2414.74  on Monday when only 26,452 shares were traded in a low start to the week. Ghana Commercial Bank rose by GHs 0.01 per sha...

On Tuesday, April 9, 2019 3 major sectors of the Nairobi stock market recorded price tumbles that more or less helped drive the All share index down once again by 0.85 points to 158.39. The banks were most hit and the sector ended with leading and 3rd highest decline in Ksh terms for the day. Of the 8 price changes recorded out of 12 quoted companies, none ended upwards and Stanbic Holdings ended down Ksh 5.25 per share to pace the market as it found and closed at Ksh 96 per share compared to Ksh 101.25 on Monday. Then not too far off, Diamond Trust Bank shed Ksh 3.75 per share to place 3rd among top 5 [price losers just behind Jubilee Holdings in the Insurance sector which lost Ksh 4 per share. Still on banks, Ksh 1 per share drop by Standard Chartered Bank was also major although all other decreases recorded in the sector were below Ksh 1 per share. In the Insurance sector, all 4 price changes recorded were downwards too although only Jubilee Holdings recorded major decline.It was fo...

At the Nigerian Stock Exchange offload of Sterling Bank continued on Tuesday April 9, 2019 without the usual rush for the shares resulting in leading number of deals. Once again Sterling Bank paced traded volume with 119.718m of its shares offloaded  in just 75 deals worth N311.311m while easing by N0.01 per share. the shares were traded at between N2.69 and 2.55 per share.. The bank also led traded volume on Monday April 8, at the start of the week with 93.423m shares offloaded in 81 deals just like on April 5, 2019 when through 51 deals 59.866m shares were also traded. Sterling Bank, according to a major stock broker months ago, was a bank that commanded high foreign investors interest and it is time to check if the new lack of interest is a product of drop in foreign funds inflow. For example, much smaller Chams Plc, which in recent days had already recorded a chain of offloads, witnessed exchange of less than half of  the Sterling Bank offload on Tuesday (50.233m shares) that were ...

For the 2nd day, the All share index at the Nairobi Securities Exchange dipped on Monday April 8, 2019 after last Friday's punctuation of steady climb. The ASI slipped by 0.28 points to 159.24 from 159.52 on Friday which it had eased 0.06 points to. However, unlike Friday when price gainers were slightly higher in number than losers, 19 apiece were losers and gainers on Monday. The price losers were paced by Crown Paints down Ksh 4 per share to close at Ksh 80 per share compared to Ksh 84 per share previously. This was while recording exchange of 3,300 shares. It was trailed by Standard Chartered Bank Kenya with Ksh 2.75 per share drop and Stanbic Holdings which closed Ksh 1.75 per share down. On the other hand, Diamond Trust Bank while recording exchange of 11,000 shares hit day high of Ksh 129 per share, day low of Ksh 128 then closed at Ksh 128.75 per share. This was up Ksh 1.25 per share on the Ksh 127.50 per share it ended Friday with. This turned out to be the day...

Traded volume at the Ghana Stock Exchange closed at 2nd lowest level in months on Monday April 8, 2019 at the start of the second week of the month. In all, 26,452 shares were traded in surprisingly 9 equities within the day compared to 84,071 shares on Friday and the down pour of 1.23m on Thursday. However, it was higher than just 23,390 shares dealt in on March 7 this year and just a little short of 28,121 shares on February 7. One thing though, the day saw rare trade in 3 hardly traded equities. Agricultural Development Bank was one of them and 2500 of its shares were traded with last deal at GHs 5.06 per share at which it also closed the day. The closing price was down GHs 0.89 per share on the GHs 5.95 it closed on Friday thus recording the leading price change for the day. However, ADB's offer price rallied to GHs 5.9 per share without takers and the shares were worth leading GHs 12,650. Also rarely traded was Mechanical Lloyd Company PLC in which 3900 shares were e...

For the first time in a very long while, 69.8% of acknowledged price changes at the Nigerian stock exchange closed down on Monday April 8, 2019 after last week's daily downwards trend that was punctuated late in the week. There were 43 price changes in all and 30 of them were drops as against only 13 gains leading to 454.14 points or 1.53% decline in the All share index to 29,162.24. This was not the sharpest dive since this year by the market but the crowded scene of price drops points to very bearish expectations. The margins of gain were not even major as only 11 Plc closed up by N1 or 0.59%; all others rose below this cut off compared to 4 price drops above N1 per share and by equities with more impact on the ASI valuation basket.  Top gainer price loser was Dangote Cement as it went down N3.5 or 1.85% per share to close at N185.5 after sliding from Friday's N189 per share to day low of N175. This was while recording 85 deals for 0.670m shares worth N124.2m. Close on its he...

In the financial year 2018, Nigeria's Wema Bank ended with solid 59.5% growth in profit before tax to N4.798bn despite double digit growths in expenses and impairment provision. The secret? Well, according to the audited figures for the year released not too long ago, the secret was in the solid foundation which its net interest income provided. From the figures, interest income rose by 8.60% to N57.635bn from N53.073bn while interest expense DECREASED by 8% to N30.643bn from N33.306bn. And the result? Solid 36.5% growth in net interest income to N26.992bn. For the record no other income stream grew this fast. Net fee and commission rose by 19.1% to N6.507bn ; net trading revenue at N5.532bn was 15.3% up; Other income topped up 16.1% to N1.822bn and even securities investment income declined by 82.2% to N0.033bn. Hence, in the end, Gross Earnings ( that is as far as Henates could estimate) grew by only 9.74% to N69.707bn from N63.519bn. Thus, as impairment provision jumped by 61.1%...

Trading on Friday April 5, 2019 at the Ghana Stock Exchange was like dry wind after a surprise down pour First, the first 3 days of the week had recorded low number of equities with deals or low traded volume. Then come Thursday, at 7, the number of equities with deals was neither low or average but traded shares landed like a down pour With both Ghana oil and MTn Ghana witnessing exchange of above 500,000 shares each and Ecobank Ghana chipping in above 100,000; traded volume closed the at 1.23m shares. Then come Friday, even with 9 equities closing with trade, quantity involved per equity was so small, total traded volume came to 84,071 shares second lowest in the week after Monday's 67,329 shares However, the Ghana Composite Index closed up for the second day on Friday, settling at 2444.43 after rising to 2440.18 on Thursday from Wednesday's 2439.85 week low. In the end, the GCI closed the week 0.44% down on previous week's closing 2454.51. This was as 2 price...

After days of more or less searching for a bottom, the Nigerian Stock Exchange closed the week ended April 5 2019, turned upwards on Friday but too late. The All share index rose by 0.21% per share on Friday to 29,616.38 but it thus still ended the week down 1.37% on previous week's closing 31,041.42 The last decline on Thursday was driven by Forte Oil being the lone major price gainer while 11 PLC, CAP PLC and Dangote Cement paced price decline. On Friday, the reverse in the direction of the ASI was not really a reverse in price discovery in truly opposite direction but the balance struck as very cautious pricing held sway. For example, there were 18 price changes too low to be recognised as price change, more 15 price gains and 17 price drops. It was a day of cautious pricing that made the day end without any price up N1 per share. Cement Company of Northern Nigeria set pace for gains with N0.8 or 4.94% per share as it found and closed at N17 per share compared to N16...

The days upwards match by the Nairobi securities exchange came to an end on Thursday after the All share index hit week high of 160.08 on Wednesday. Come Friday, the slide continued as the ASI eased by 0.06 points to 159.52 but the 2 day slide only reduced the index growth on previous week's 157.66 close by 1.18% or 1.86 points. The Friday drop was occasioned by 23 price drops well ahead of 15 gains and in margin of price change too. The price gainers pace was set by Stanbic Holdings with Ksh 4.50 per share rise to close at Ksh 103 per share compared to Ksh 98.50 previously On its trail were Ksh 2.50 per share gain by BOC Kenya, and Williamson Tea's top up by Ksh 1.50 per share  On the price losers side, the leader was Standard Chartered Bank down Ksh 2 per share after some struggle. It hit day high of Ksh 214, which was previous day's close, then a bottom of Ksh 210 per share before closing at Ksh 212 per share. It was followed by Diamond Trust Bank down Ksh 1.75 per share...

The Nairobi Securities Exchange once again closed positive as the Ghana Composite Index ended at 160.08 up 0.34 points but it remains essentially a market that could do with more shares to trade. There is also another but to the continued rally: Price drops on Wednesday were 23 compared to 15 gains which is quite a different hint from Tuesday's 19 apiece. The 15 that drove the GCI upwards were led by British American Tobacco which rose Ksh 12 per share to close at Ksh 550 per share as against Ksh 538 previously but while only 400 shares were exchanged. Other major price gains were Bamburi Cement with Ksh 5 per share increase; and Crown Paints' Ksh 1.75 per share On the other hand, decline was paced by Limuru Tea which found and closed at Ksh 500 per share, down a whopping Ksh 50 per share. Other major drops were Ksh 1 per share each decline by I &M Holdings  and BOC Kenya. Most sectors of the equity market that were still dry although the Manufacturing sector jo...

The Ghana Stock Exchange closed Wednesday back more or less in Monday when trade was recorded by very few companies but this time around, large parcels were traded in all but one company. On Monday April 1 2019, only 4 equities witnessed  trade and so traded volume dropped to far below 100,000 shares. However, on Wednesday, even though only 5 equities once again recorded deals after Tuesday's 10 equities, traded volume closed at 123,800 shares all because only Societe Generale ended with exchange of below 1000 shares. A total of 400 shares were traded in Societe Generale at GHs 0.9 per share, that is without price change although offer price ended at GHs 0.95 per share. Top traded volume was MTN Ghana's 47,700 shares traded while also closing firm at GHs 0.7 per share for a total value of GHs 33,390. Enterprise Ghana recorded deals for 33,300 shares while closing at GHs 2.22 per share compared to GHs 2.25 per share on Tuesday. This was after last deal was sealed at ...