Equities rebound as All Shares Index ASI rose by 0.11%

The Nigerian Stock Exchange All Share Index (NSE ASI) and the Market Capitalization appreciated by 0.11%, at today's trading with the All Share Index closing at 29,700.08 points against the previous close of 29,667.24 points while Market Capitalization closed at N10,207.29 trillion against previous close of N10,196.02 trillion.

With this performance, the Year-to-Date return stood at -14.30%.

The NSE 30 Index increase by 0.02 per cent from 1,348.25 basis points to 1,348.57 basis points.

The NSE Banking Index depreciates by 0.71 per cent from 312.74 points to 310.53 basis points.

Volume traded increased by 7.61% from 160,610,791.00 million to 172,840,478.00 million, while the total value of stock traded increased by 109.11% from ₦1,646 to ₦3,443 billion in 3,226.00 deals with 21 stocks rising, 62 stocks closed flat while 23 others are declining.

OKOMUOIL Plc. rose by 10.25 per cent or N3.32 to close at N35.72 per share.

OKOMUOIL, TRANSEXPR, MANSARD, UACN and EVANSMED emerged the highest price gainers on the chart, while ACCESS, VITAFOAM, BERGER, NIG-GERMAN, and NPFMCRFBK topped the losers chart.

COOPERATE DISCLOSURE

UBA’s PAT rose by 44.39% to N49Billion

• United Bank for Africa released its Q3:2015 results in which Revenue grew by 17.32% to N247Bn (Q3:2014, N210Bn), PBT rose by 34.84% to N57.4bn from N42.5bn.
• PAT also appreciated by 44.39% to N48.6bn from N33.63bn driven by strong growth in interest income by 17.19% to N175.1bn (Q3:2014, N149.4bn) despite the unfavorable macro and regulatory environment.
• Currently trading at N4.10 and at a P.E of 1.66, we maintain our BUY rating with a price target of N8.50 representing an upside of 107.31%.

CADBURY'S Profit dropped by 98% to N28million

• Cadbury Nigeria Plc recently released its Q3:2015 results in which revenue fell by 10% to N21bn from N23bn 2015, profit before tax fell by 98% to N40mn from N1.6bn while profit after tax also declined by 98% to N28mn from N1.6bn underpinned by a declined in finance income (63% to N114mn from N308bn, Q3:2015) for the period under review.
  
• Stiffer competition within the food and beverage segment and decline of the macroeconomic indicators (such as Inflation rate: 9.3%, high interest rate and devaluation in naira are taking its toll on Cadbury’s performance.
  
• Cadbury Nigeria Plc. is currently trading at N22.10 per share. We place a SELL rating on its’ shares with a 12 month price targets of N20 per share.

Credit : AAML