29th April 2019 : Amidst the release of a flurry of mixed earnings results, the ASI dipped further to kick off the new week, shedding 73bps in today's predominantly downtrending session. Market activity saw a mild uptick as volume and value traded rose 19% and 40% d/d respectively.

What will shape the market tomorrow? 

As earnings season begins to slow down, analysts expect investors Q2 intentions to begin to take shape. In line with this, analysts foresee another downward sloping session tomorrow amidst the average Q1 results released today. However, analysts do not rule out the possibility of bargain hunting in the market tomorrow.

Corporate Announcements

Julius Berger Nigeria Plc., released Q1'19 results, reporting Revenue of N63 billion (+78% y/y) and Profit After Tax of N486 million (-67% y/y).

Total Nigeria Plc., released Q1'19 results, reporting Revenue of N77 billion (+2.4% y/y) and Loss After Tax of N474 million.

Dangote Cement Plc., released Q1'19 results, reporting Revenue of N240 billion (-0.8% y/y) and Profit After Tax of N60 billion (-17% y/y).

11 Plc., released Q1'19 results, reporting Revenue of N46 billion (+2.2% y/y) and Profit After Tax of N2 billion (-26% y/y).

Stanbic IBTC Holdings Plc., released Q1'19 results, reporting Revenue of N59 billion (+2.3% y/y) and Profit After Tax of N19 billion (-17% y/y).

UAC of Nigeria Plc., released Q1'19 results, reporting Revenue of N20 billion (+13% y/y) and Profit After Tax of N1 billion (+46% y/y).

Reporting for EasyKobo on Monday , 29 April 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited