06 May 2019

Following a 136% rally in 12 sessions, DANGFLOUR dipped 976bps on Friday 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 earnings results. The stock traded with a 0.02x bid/offer ratio (N 0.05 spread) at the end of the session. 

On the Bid Cart:  NEM led the bid cart to kick off the new week rising 995bps to settle at N 2.43. The stock traded with a 21x bid/offer ratio towards the close of trading, almost on full bid, an indication of high demand. NEM hit its one-year bottom of N 1.79 in January after a rally to N 2.95 at the end of last year. It has gained 21% in the last five sessions.

On the Offer Cart:  CCNN lost 347bps today leading the offer cart and settling at N 15.30. The stock hit its one-year low of N 14.00 at the end of last month after a series of steep declines. It made a mild recovery gaining 13% last week. The security closed today's session trading with a bid/offer ratio of 2.4x and has declined 21% YTD.

Reporting for EasyKobo on Monday , 06 May 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited