26th July, 2019

On the Bid Cart:  CHIPLC (+10.00%) closed limit up today settling at N0.33. The insurance stock is currently trading at a 13% discount from its year high of N0.38 which it opened the year at. The Insurance sector was the sole gainer today lifting the YTD decline to -9.87% (CHIPLC: -13% YTD; WAPIC: -9.5% YTD).

On the Offer Cart: INTBREW led the loser board today after shedding 942bps to settle at five year low of N12.50. The brewer has shed 60%% since the beginning of the year and is the poorest performer YTD in the brewing sector (GUINNESS: -36.1% YTD; NB: -29.8% YTD). INTBREW has declined over 80% since the start of 2018, one of the largest devaluations on the Exchange over that period.

Reporting for EasyKobo on Friday , 26 July 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited