24th October, 2019

On the Bid Cart: FO closed the day at its maximum intraday price of N17.60, gaining 10.00%. The upward movement in the counter came on the back of positive reactions by investors on the announcement made by the company to the general public relating to the take-over of up to 500,000 units ordinary shares (representing 0.04% Equity stake) of Forte Oil Plc at N66.25 by Ignite Investment and Company Limited, with the qualification date of Friday, 25 October 2019.         

On the Offer Cart: GUINNESS ended today's trading session as the worst performing stock, dipping 988bps to close at the limit low price for the day (N26.45). Today's negative performance came as a result of investors reacting negatively to the company's Q3'19 results, in which revenue reduced by 4.26% while declaring a loss after tax of N370.43m. The counter which was fully offered after releasing its result has now declined 63.26% YTD and trades at its lowest price in five years.

Reporting for EasyKobo on Thursday , 24 October 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited