3rd June, 2019 

On the Bid Cart: CHAMPION gained 990bps to settle at N 1.11, leading the bid cart. The brewer went on a thirteen session down trend (-29%) from the 14th of May till the end of the month when it hit its five year-low of N 1.01. Investors took advantage of the attractive entry price of the stock leading CHAMPION to a near limit-up performance today. As at the close of trading, the brewer was trading with a 16x bid/offer ratio ( N 0.09 spread).

On the Offer Cart:  SEPLAT shed 907bps to settle at N 500.00 (its year-low) after sessions of gains seen at the end of the month of May from its previous year-low ( N 520.00). The sharp decline could likely be a result of the decline in the global oil price and profit taking on the soft gains on the stock . The Oil & Gas heavyweight has declined 22% YTD. Likewise, VITAFOAM shed 941bps from its year-high of N 4.25 to settle at N 3.85. The dip in the price is also likely a result of profit taking on the 16% premium to its year open. The stock has returned 5% YTD. 

Reporting for EasyKobo on Monday , 03 June 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited