5th December, 2019

On the Bid Cart: DANGSUGAR trailed UNIONDAC (+833bps) and CHAMS (+909bps) as the third best performing stock for the day, increasing 803bps to settle at N 14.80. The counter has experienced positive investor sentiment since the announcement of the proposed business combination (merger) between itself (Dangote Sugar Refinery) and its subsidiary (Savannah Sugar Company Limited) was published in November, gaining over 48.00% since the announcement (-2.95% YTD).      

On the Offer Cart: CORNERST led other decliners in today's session, with a 10.00% drop to close at its intra-day low price of N 0.63. Despite the decline, the shares of the insurance company have significantly outperformed the ASI for the year, printing a YTD return of over 200.00% and remains the only stock at the local bourse that has returned over 100.00%. (CONTINSURE: +15.18%; CUSTODIAN: +6.19%; AIICO: +17.46%; Insurance sector: -6.04%; ASI: -14.37%).    

Reporting for EasyKobo on Thursday , 05 December 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited