24 April 2020

On the Bid Cart: MTNN closed among the top gainers for the day, advancing 400bps to close the week at N104.00. Since falling to its year low price of N90 three weeks ago, the counter has enjoyed positive patronage, gaining a little above 15.00% within the same period while reducing its YTD loss to -4.59% (vs -17.43% three weeks ago).            

On the Offer Cart: UACN once again emerged as one of the top decliners, down by 815bps to end the week at N6.20. The bearish performance came as a result of negative reaction on its FY'19 result where it posted a Loss After Tax of N9.26bn despite a 12.39% rise in its revenue for the period. Following the persistent declines, the counter's YTD performance worsened to -30.34%.

Reporting for EasyKobo on Friday , 24 April 2020 in Lagos, Nigeria

Source: Vetiva Capital Management Limited