03rd May 2019( Lagos)

On the Bid Cart:  Riding on the coattails of an improvement in Q1'19 earnings (Q1 losses cut from N 3.2 billion to N 555 million), JAPAULOIL gained 833bps today to settle at N 0.39. The stock has gained 30% in the last two sessions since the release of it's results, while trading on full bid. The sign of a turn around in operations is a positive for investors and the demand for the stock is evidence of positioning for future improvements.

On the Offer Cart:  Following a 136% rally in 12 sessions, DANGFLOUR dipped 976bps today to settle at N 17.10 as investors took profit on the significant gains in the stock. News of Olam International's acquisition of the company owned by Africa's richest businessman overshadowed the average Q1'19 earning results. The stock traded with a 0.02x bid/offer ratio ( N 0.05 spread) at the end of the session

Reporting for EasyKobo on Friday , 03 May 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited