30 April 2020

On the Bid Cart: ARDOVA PLC extended the bullish performance recorded yesterday into today's session, gaining 10.00% to close at its intra-day high price of N11.55. The positive performance is on the back of buying interest by investors in the counter which trades at a significant discount to its expected fair value. The ticker has gained c.20.00% in the last two sessions while reducing its YTD loss to -35.83%.  

On the Offer Cart: Contrary to the positive returns we saw in the banking sector during the course of the week, the Banking index closed south today, down by 0.37% due majorly to declines in ZENITHBANK (-272bps) and GUARANTY (-47bps) as investors took profit on gains made recently.  

Reporting for EasyKobo on Thursday , 30 April 2020 in Lagos, Nigeria

Source: Vetiva Capital Management Limited