27th June, 2019

On the Bid Cart: INTBREW climbed 958bps from a 24-month low (N16.70) to close at N18.30. The stock has declined 55% over the last twelve months and started the year above the N30.00 mark. A brewer has led the bid cart for the second consecutive session despite the overarching bearish sentiment surrounding the brewery industry. The challenge being experienced in the industry is highly attributed to rising costs of production, increasing competition and newly introduced excise duties (INTBREW has shed 53% since the duties came into effect on the 4th of June, 2018). CCNN closed limit up (10.00%) making a mild recovery from it's year low to settle at N13.20 in a spell of bargain hunting.   

On the Offer Cart:  BERGER dropped 979bps to settle at N6.45 as investors took profit on the 10% gain observed on the stock since the beginning of the week. The stock has seen high price volatility over the last five years (bottoming at N5.88 mid-2017 and peaking at N11.36 mid-2015). BERGER has declined 25% YTD (PREMPAINTS: -10% YTD; PORTPAINT: -2% YTD). Likewise, FO weighed on the Oil & Gas sector shedding 987bps to settle at N27.40 (-5% YTD), however gains in SEPLAT erased the losses in the sector. 

Reporting for EasyKobo on Thursday , 27 June 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited