6th August, 2019

On the Bid Cart:  STERLNBANK gained for the second session in a row (348bps) to settle at N2.83. The stock has appreciated 6% over the last two sessions. STERLNBANK peaked at N2.74 in April and is now trading at an 13% discount to its 6 year high. The lower tier bank then dipped 23% over thirteen sessions in May. STERLNBANK has returned 25% YTD (FIDELITYBK: -24%; FCMB: -15%; Banking Sector: -19% YTD).

On the Offer Cart: CONTINSURE dipped 988bps today bringing its price to N1.55. The stock was placed on a technical suspension at the end of December 2018 to allow the company restructure their Shareholder's scheme. The Insurance stock lost 994bps after suspension on the stock was lifted on the 2nd of August. CONTINSURE has shed 19% since trading on the stock resumed (CUSTODIAN: -3%; Insurance Sector: -14% YTD).

Reporting for EasyKobo on Tuesday , 06 August 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited