30th August, 2019

On the Bid Cart: STANBIC came behind STERLNBANK (+917bps) and UACN (+989bps) as top the gainer for the session after closing up 857bps to close at 38.00. In spite of the unimpressive H1'19 result released by the firm with gross earning up slightly by 2.77% and PAT down 15.87% y/y while maintaining its 1.00 interim dividend, the stock witnessed positive investor sentiment. The buy interest is likely as a result of investors taking advantage of the strong dividend yield on a stock that trades lower y/y (Aug 2018: 49.50) while offering same dividend.

On the Offer Cart: GLAXOSMITH led the 17 decliners for the day down 943bps to settle at 7.20. Today's closing price is the lowest it has traded in 5 years. GLAXOSMITH, also one of the top losers w/w, dropped 13.26% w/w and has lost 50.34% YTD.

Corporate Announcements

Fidelity Bank Plc. released H1'19 results, reporting Gross Earnings of 103.66bn (+12.31% y/y) and Profit After Tax of 13.69bn (+15.63% y/y).

CUTIX Plc. released Q1'19 results, reporting Revenue of 1.27bn (-3.79% y/y) and Profit After Tax of 94.42mn (-15.42% y/y).

Reporting for EasyKobo on Friday , 30 August 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited