By InvestAdvocate

Lagos (INVESTADVOCATE)-Cement producer, Ashaka Cement Plc (ASHAKACEM) said on Wednesday that Lafarge Africa Plc has received the approval of the Securities and Exchange Commission (SEC) to proceed with the Tender for the entire 392,864,273 ordinary shares held by minority shareholders which represents 17.54 percent of the issued share capital of the company.

“We confirm that the board of Lafarge Africa Plc has now notified the board of AshakaCem Plc of its intention to proceed with the Tender Offer to all the minorities of the company, the cement manufacturer said in a notice to the Nigerian Stock Exchange (NSE).

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By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Sentiments on the Nigerian Stock Exchange (NSE),  Friday remained dampened as the all-share index (ASI) and market capitalisation went down 0.70 percent to close the week at  25,328.07 points and N8.712 trillion respectively.

“Similarly, all other Indices finished lower during the week, with the exception of the NSE Oil/Gas Index and the NSE Pension Index that rose by 0.24 percent and 0.13 percent respectively, while the NSE ASeM closed flat,” the NSE weekly stock market report affirmed.

At end of the week’s session, the NSE reported a turnover of 1.111 billion shares worth N6.201 billion in 15,315 deals were traded by investors on the floor of domestic bourse compared to a total of 1.262 billion shares valued at N6.427 billion that exchanged hands last week in 12,274 deals.

It said the Financial Services Industry (measured by volume) led the activity chart with 950.921 million shares valued at N3.675 billion traded in 10,757 deals; thus contributing 85.58 percent and 59.25 percent to the total equity turnover volume and value respectively.

This is followed by the Conglomerates Industry with 60.977 million shares worth N79.922 million in 591 deals. Thirdly is the Consumer Goods Industry with a turnover of 40.270 million shares worth N1.696 billion in 1,774 deals.

The NSE reported that trading in the shares of lenders, Guaranty Trust Bank, FCMB Group Plc and insurer, Equity Assurance Plc.(measured by volume) accounted for 362.484 million  shares worth N2.020 billion in 1,942 deals, contributing 32.62 percent and 32.57 percent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 24,200 units of Exchange Traded Products (ETPs) valued at N621,286 executed in 26 deals, compared with a total of 25,738 units valued at N522,245 transacted last week in  39  deals, the NSE weekly stock market report affirmed.

In terms of bonds a total of 6,908 units of Federal Government Bonds valued at N7.739 million were traded in 7 deals  compared to a total of 22,030 units of Federal and State Government Bonds valued at N25.368 million  transacted last week in 8 deals.

A summary of price changes in the review week shows that 27 equities gained in price during the week, higher than 24 recorded the previous week. On the flipside, 40 equities lost in price, higher than 37 posted last week, while 122 equities remained unchanged lower than 128 declared in the previous week.

Etranzact International Plc emerged the weekly top gainer with a gain of 0.72 kobo per share; while Ashaka Cement Plc topped the weekly losers chart with a loss of N3.24 per share.

Click to view NSE’s Weekly Stock Market Report for the period ended April 8, 2016

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By InvestAdvocate

Lagos (INVESTADVOCATE)-Equities on the Nigerian Stock Exchange (NSE) extended its bullish momentum on Wednesday as the all-share index (ASI) rose marginally 0.04 percent to close at 25,464.94 points, while market capitalisation increased by N388.65 billion to N8.76 trillion.

The positive sentiments is across the Consumer Goods counters as today’s performance increased the ASI’s Month-to-Date gain to 0.63 percent and cut the Year-to-Date loss to 11.09 percent, Cordros daily market update affirmed.

According to the report, the Consumer Goods sector climbed up by 0.49 percent; emerging the sole-gainer on the increase recorded in the shares of beermaker, Nigerian Breweries Plc by 1.32 percent.

On the contrary, the Cordros update says the Banking, Oil & Gas and Industrial Goods indices shed weight by 0.31 percent, 0.03 percent and 0.01 percent apiece on the dismay performance reported in the shares of Nigeria’s top tier lender Guaranty Trust Bank Plc 0.92 percent, oil marketer, Oando Plc 0.03 percent and cement producer, Ashaka Cement Plc losing by 0.01 percent respectively.

Similarly, the Insurance index dipped by 0.46 percent, following losses recorded in the shares of insurer, AIICO Insurance Plc 4.76 percent and reinsurer, Continental Reinsurance Plc by 1.11 percent.

At the close of today’s trading on the Nigerian bourse, market breadth remained negative, with 14 gainers and 21 losers posted, according to the NSE’s daily market statistics.

Electronic transaction switching and payment processing firm, eTranzact International Plc emerged the top gainer for the second consecutive session with a gain of 0.29 kobo per share; while Paint producer, Portland Paints and Products Nigeria Plc topped the losers chart still for the second straight session with a loss of 0.29 kobo per share to close the day.

In terms of turnover, total volume traded on the Nigerian equities market climbed by 14.46 percent to 202.99 million shares valued at N885.63 million and traded in 3,320 deals.

“We expect gains to come in higher in tomorrow’s session, as positive sentiments remain evident,” the Cordros update added.

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