Retail views

UBA Q4 results

Nigeria

Wednesday, 29 April 2015

Daily Retail Report .

Market Review

The NSE witnessed a reversal of recent upward trend as the

benchmark index lost 17bps to close at 34,649.28bps. Profit taking

activities led to the southward move of all sectorial indices with the

industial sector leading the pack as it recorded 101bps loss led by

Dangcem (-2.44%) and CCNN (-0.09%).

ASI year-to-date return currently stands at -0.02%. Among the

broad indices, Value of transactions appreciated by 71% compared

to previous session as market capitalization depreciates by

N16billion to return 11.767trillion. Top in the positive territory are

VITAFOAM (N5.32), REDSTAREX (N4.15) and UPL (N5.07) while

UNITYBK (N3.52), MANSARD (N2.85) and TRANSEXPR (N1.16) led

the negative territory.

In the trader’s opinion, investors are advised to take up buying opportunities in the face of reduced prices

Sector Report Today(%) Month-To-Date(%) Year-To-Date(%)

NSE30 0.27 11.45 66.39

NSE BNK10 0.69 9.51 113.21

NSE CNSM10 0.43 11.96 54.52

NSE OILG5 0.68 5.26 103.46

NSE INS10 -1.44 0.46 4.90

NSE IND -1.01 13.11 4.11

Market Wrap

ASI -0.17% 34,649.28

Index year-to-date -0.02%

Market Cap. N11.767Tril

Traded value 6.416Bn

Key gainers (%)

HONYFLOUR 10.14

OKOMUOIL 4.05

OANDO 3.89

FIDELITY 3.76

AIICO 2.94

Key losers (%)

UACN -4.74

STERLNBANK -4.80

DANGFLOUR -4.91

FBNH -3.06

DANGCEM -2.44

NITTY

1M 5.1463

2M 11.4935

3M 11.5652

6M 13.1870

9M 13.9646

12M 14.8799

Crude oil spot price

Brent crude US$66.33

Contact information

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Daily Retail Report

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Retail views

Top Highlight

Power

Household survey re-emphasises the need for improvement in electricity supply

NOI Polls, Nigeria’s leading opinion polls agency, recently published results from its recent survey on power supply titled: 27-month average

nationwide power supply tracking. The opinion poll was conducted between January 2013 and March 2015. 27,000 Nigerians across the six geo-

political zones were surveyed by telephone interviews. 63% of the respondents stated that they had not experienced an improvement in power

supply in the 27-month period while 37% indicated that power supply had improved.

Survey results from the last four quarters showed that self-generation (using alternative sources) is over twice as expensive as paying for electricity

from the national grid (see table above). This is consistent with recent data from McKinsey&Company which suggests that electricity provided by

diesel generators in Sub-Saharan Africa could be three to six times as costly as supply from the grid.

Nigeria’s power supply has hovered around 3,500-4,000 megawatts (MW) in recent months, just a little more than one quarter of the national average demand, estimated at 12,800 MW (see CSL Nigeria Daily, 9 March 2015). This is forcing many households and businesses to rely heavily

on petrol and diesel powered generators.

Fixing Nigeria’s erratic electricity supply has been identified as an area to prioritise for the incoming All Progressives Congress-led government.

Today’s news headlines

Shareholders call for reduction in 75% CRR on Public Sector funds: Some shareholders of banks last week called on the Central Bank of

Nigeria (CBN) to review the 75% Cash Reserve Requirement (CRR) imposed on public sector funds in banks, saying it is negatively affecting the

bottom line of banks. The CBN had raised the CRR on public sector funds from 50% to 75% at the beginning of 2014. Source: thisdaylive.com

Dangote Cement spends N217bn (US$1.1bn) in Pan-African expansion: Dangote Cement Plc has invested N217 bn on its expansion programme

across African countries during the 2014 financial year. The countries are Nigeria, Senegal, Cameroun, Congo, Ghana, Cote d'Iviore, Sierra Leone,

South Africa, Ethiopia, Tanzania and Zambia. In his report to the shareholders at the sixth annual general meeting in Lagos on Wednesday,

Chairman of Dangote Cement, Alhaji Aliko Dangote said 2014 was the year in which the company achieved significant progress in it's goal to

become a truly pan-African manufacture and distributor of cement. Source: thisdaylive.com

APC governors meet Buhari on ministerial nominees Tuesday: Governors of the All Progressives Congress are meeting with the President-elect,

Muhammadu Buhari, in Abuja on Tuesday. The meeting would be the first to be attended by the governors jointly since the conduct of the March

28 presidential election which Buhari won. One of the governors, who spoke on the condition of anonymity with our correspondent in Abuja on

Sunday, said that the meeting would also be attended by all the APC governors-elect. Source: punchng.com

PwC reputation at risk after NNPC audit controversy: PricewaterhouseCoopers (PwC), one of the leading global networks of ‘big four’ audit and

assurance firms faces grave reputational risk as Nigerians clinically scrutinise the report it submitted in the middle of the 2015 presidential

election campaigns. Reliable sources told BusinessDay that one or two other firms rejected the audit job, given the very delicate balancing act they

faced between pleasing the Federal Government and looking out for public interest. Source: businessdayonline.com

Daily Retail Report

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Retail views

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