The bears continue to pressure the Nigerian stock market amid oversold conditions. Most sector indices closed in the red, dragging the overall market index lower. Trading activity declined from the previous session. In company news, Japaul Oil reported a 19% rise in revenue but a large decline in profits. The analyst advises caution for investors. President Buhari named his first appointments for media roles and faces pressure to reopen investigations into oil sector corruption cases. Civil society groups also want the President and Vice President to publicly declare their assets as promised.
A summary of market activities and stock performance that occurred on the floor of the Nigerian stock exchange at the close of trading activities yesterday.
A summary of market activities and stock performance that occurred on the floor of the Nigerian stock exchange at the close of trading activities yesterday.
The Exchange was rather silent today as the All-share-Index barely adding 0.20% before the closing bell. It appears that participants look forward to the ministerial list scheduled to be released tomorrow to determine what trade button to hit –buy or sell. The sectorial indices under the NSE radar showed mixed performance as the oil and gas, consumer and industrial sectors traded in green on the back of oando(+1.94%), Honyflour(+4.72%), Berger(+4.93%) and Dangcem(+1.77%) while the insurance and banking sector were the weak performers on the backdrop of Nem......
In an unexpected move, Britain chose to Exit out of the EU on Friday. After the exit from EU, Britain has two options from a policy perspective; one is to deflate and second is to devalue. Due to this separation, Britain has lost their single market for British goods.
•The basic reason for Brexit apart from the concerns of immigrants outnumbering the locals was that, a lot of euro nations have a large amount of debt in government’s balance sheet. For the past 400 years, Europe fought lot of internal battles. After Second World War wisdom dawned upon them that there should be collaborations instead of battles, so eventually after 30-35 years, it led to the formation of the European Union. But after the Second World War incumbent governments in Europe realized that after the 400 years of war and keeping their population in to eternal stress and debt, they have to provide them more prosperous future. So apart from the all the fruits of industrial revolution that they have meaningfully enjoyed, they made lot of social welfare promises to their illiterate. Most of those people are retired today and at their old age, the government is legally bound to provide these benefits to them such as healthcare benefits, social security benefit and pension benefits etc.
"Among all top 10 stock advisory company Indore Trade Nivesh is the best financial platform to get daily intraday stock market recommendations and market calls. You can also visit our site to have free trading trials."
Unveiling the physics of hair shapes - journal club 2014Krissia Zawadzki
We investigate how natural curvature affects the configuration of a thin elastic rod suspended under its own weight, as when a single strand of hair hangs under gravity. We combine precision desktop experiments, numerics, and theoretical analysis to explore the equilibrium shapes set by the coupled effects of elasticity, natural curvature, nonlinear geometry, and gravity. A phase diagram is constructed in terms of the control parameters of the system, namely the dimensionless curvature and weight, where we identify three distinct regions: planar curls, localized helices, and global helices. We analyze the stability of planar configurations, and describe the localization of helical patterns for long rods, near their free end. The observed shapes and their associated phase boundaries are then rationalized based on the underlying physical ingredients.
RV 2014: Beyond Mobility: Corridor Planning for the Bigger Picture by Katheri...Rail~Volution
Beyond Mobility: Corridor Planning for the Bigger Picture AICP CM 1.5
Transit can do more than move people and generate revenue. More and more, cities are investing in transit to transform their communities and deliver on more expansive city-building objectives. Traditional transit goals are expanding to address the promise of livable communities, environmental stewardship, economic development and improved public health. Hear how two cities -- Seattle and Portland -- are shaping development scale and character with transit investment. Both cities are using parcel-based, pro forma-based tools to quantify the potential impact of transit projects. Join us for an interactive discussion about the capabilities and limitations of these tools. Hear their stories and learn how to evaluate your own projects against a broader set of goals using technical and market-based analysis.
Moderator: Catherine Ciarlo, AICP, Senior Project Manager, CH2M Hill, Portland, Oregon
Katherine Idziorek, AICP, LEED AP ND, Urban Designer, VIA Architecture, Seattle, Washington
Antonio Gomez-Palacio, Principal, DIALOG, Toronto, Ontario
Eric Engstrom, Principal Planner, City of Portland, Bureau of Planning & Sustainability, Portland, Oregon
The Exchange was rather silent today as the All-share-Index barely adding 0.20% before the closing bell. It appears that participants look forward to the ministerial list scheduled to be released tomorrow to determine what trade button to hit –buy or sell. The sectorial indices under the NSE radar showed mixed performance as the oil and gas, consumer and industrial sectors traded in green on the back of oando(+1.94%), Honyflour(+4.72%), Berger(+4.93%) and Dangcem(+1.77%) while the insurance and banking sector were the weak performers on the backdrop of Nem......
In an unexpected move, Britain chose to Exit out of the EU on Friday. After the exit from EU, Britain has two options from a policy perspective; one is to deflate and second is to devalue. Due to this separation, Britain has lost their single market for British goods.
•The basic reason for Brexit apart from the concerns of immigrants outnumbering the locals was that, a lot of euro nations have a large amount of debt in government’s balance sheet. For the past 400 years, Europe fought lot of internal battles. After Second World War wisdom dawned upon them that there should be collaborations instead of battles, so eventually after 30-35 years, it led to the formation of the European Union. But after the Second World War incumbent governments in Europe realized that after the 400 years of war and keeping their population in to eternal stress and debt, they have to provide them more prosperous future. So apart from the all the fruits of industrial revolution that they have meaningfully enjoyed, they made lot of social welfare promises to their illiterate. Most of those people are retired today and at their old age, the government is legally bound to provide these benefits to them such as healthcare benefits, social security benefit and pension benefits etc.
"Among all top 10 stock advisory company Indore Trade Nivesh is the best financial platform to get daily intraday stock market recommendations and market calls. You can also visit our site to have free trading trials."
Unveiling the physics of hair shapes - journal club 2014Krissia Zawadzki
We investigate how natural curvature affects the configuration of a thin elastic rod suspended under its own weight, as when a single strand of hair hangs under gravity. We combine precision desktop experiments, numerics, and theoretical analysis to explore the equilibrium shapes set by the coupled effects of elasticity, natural curvature, nonlinear geometry, and gravity. A phase diagram is constructed in terms of the control parameters of the system, namely the dimensionless curvature and weight, where we identify three distinct regions: planar curls, localized helices, and global helices. We analyze the stability of planar configurations, and describe the localization of helical patterns for long rods, near their free end. The observed shapes and their associated phase boundaries are then rationalized based on the underlying physical ingredients.
RV 2014: Beyond Mobility: Corridor Planning for the Bigger Picture by Katheri...Rail~Volution
Beyond Mobility: Corridor Planning for the Bigger Picture AICP CM 1.5
Transit can do more than move people and generate revenue. More and more, cities are investing in transit to transform their communities and deliver on more expansive city-building objectives. Traditional transit goals are expanding to address the promise of livable communities, environmental stewardship, economic development and improved public health. Hear how two cities -- Seattle and Portland -- are shaping development scale and character with transit investment. Both cities are using parcel-based, pro forma-based tools to quantify the potential impact of transit projects. Join us for an interactive discussion about the capabilities and limitations of these tools. Hear their stories and learn how to evaluate your own projects against a broader set of goals using technical and market-based analysis.
Moderator: Catherine Ciarlo, AICP, Senior Project Manager, CH2M Hill, Portland, Oregon
Katherine Idziorek, AICP, LEED AP ND, Urban Designer, VIA Architecture, Seattle, Washington
Antonio Gomez-Palacio, Principal, DIALOG, Toronto, Ontario
Eric Engstrom, Principal Planner, City of Portland, Bureau of Planning & Sustainability, Portland, Oregon
This session will help instructors utilize social media to create a more inclusive and collaborative classroom through effective technology use. By showing instructors how to set up social media accounts for their classes and how to use key features, instructors will be able to spend less time reminding students about assignment due dates while being able to create and foster group work as well as building 21st Century skills.
China, South China Sea Dispute, Philippines, USA, Spratlys, Artificial Islands, Reclamation, Regular Patrols, Military Conflict, Militarization, ADIZ, Air Defense Identification Zone
A summarized version of all the activities that took place on the floor of the nigerian stock exchange complied at the headquarters of CSL stockbrokers
Market performance for 6th January 2015 complied by CSL Stockbrokers Limited Headquarters, Lagos Nigeria containing detailed market analysis from the Nigerian Stock Exchange.
Daily klse malaysia report by epic research malaysia 22nd september 2014Epic Research Pte. Ltd.
Epic Research provides daily market report in KLSE , Forex and Comex and gives update to help you make informed decision. It also gives advise about financial investment to achieve profitable returns by going long and short in market.
The Equity market extends its losing spree at today’s trading session as investors’ remains pessimistic. The benchmark index depreciated by an additional 0.71% to return 29,403.12bps. Sub-sectors monitored by the exchange showed mixed performance with NSECNSM gaining 130bps to lead the pack on the back of Honeyflour(9.13%), Guinness(5.00%), Nascon(4.31) and Nestle(2.24%) while the banking sector led the losers chart on the back of UBA(-13.20%), Fbnh(-7.27%), Skyebank(-6.78%) and Stanbic(-4.98%)
ASI-year-to-date stands at -15.16% while market capitalization lost N17billion. Among the broad indices, volume and value traded depreciated by 33% and -28% respectively. At the close of today’s session, 23 stocks advanced, 25 declined while 56 remained unchanged. Top in the gainers’ chart are HONYFLOUR (N2.75), DIAMONDBNK (N3.57) and GUINNESS (N138.05) while UBA (N3.55), UBCAP (N1.37) and VONO (N0.98) led the decliners.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
1. Retail views
Nigeria
Monday, 01 June 2015
Daily Retail Report
.
Market Review
The bears continue to rage amid oversold conditions in the Nigerian
Equity Market. Except for NSEIND that gained points on the back of
Portpaint (+4.40%) and Ashakacem (+0.33%), most sectorial indices
closed in the red and were unable to lift the ASI into positive
territory.
ASI currently stands at 34,044.65, returning -1.76% year-to-date.
At the closing bell, 20 stocks advanced relative to 43 decliners while
42 remained unchanged. Market activity level depreciated relative to
the previous session as 340million units valued at 5.502bn
represents 52% and 54% flow in volume and value traded
respectively. Top in the positive territory are HONYFLOUR (n3.89),
PORTPAINT (N3.80) and ETERNA (N2.87) while NPFMCRFBK
(N1.20), TOTAL (N161.00) and JBERGER (N50.00) led the gainers.
Japaul Oil and Maritime Services Plc has released its FY results for
the year ended 31st December, 2014. Revenue of N 10.572Bn
appreciated by 19% while PAT (2,362,832bn) depreciated by 6188%
respectively from prior period
In the trader’s opinion, investors are advised to tread cautiously.
Sector Report Today(%) Month-To-Date(%) Year-To-Date(%)
NSE30 -0.89 -0.89 114.24
NSE BNK10 -1.39 -1.39 190.43
NSE CNSM10 -0.89 -0.89 95.22
NSE OILG5 -1.48 -1.48 174.19
NSE INS10 -1.20 -1.20 18.32
NSE IND 0.01 0.01 21.16
Market Wrap
ASI -0.77% 34,044.65
Index year-to-datee -1.76%
Market Cap. N11.568Tril
Traded value 5.502Bn
Key gainers (%)
HONYFLOUR 4.57
PZ 2.81
SEPLAT 2.07
UACN 0.73
STANBIC 0.33
Key losers (%)
TOTAL -7.47
JBERGER -5.12
FLOURMIL -4.67
FO -4.55
TRANSCORP -3.87
NITTY
1M 12.7331
2M 13.3003
3M 13.6282
6M 13.6403
9M 14.4177
12M 14.5408
Crude oil spot price
Brent crude US$65.30
Contact information
Phone: 01-2713923; 01-2713920
Mobile: 08068015502
Email: cslservice@fcmb.com
Open Account: Click here to register
2. Daily Retail Report
Page 2
Retail views
Banking Comment
Current
Price
Target
Price
Potential
Upside %
EPS
FY
2014
1 Yr
forward
EPS
Last
Dividend
(N)
P/BV
2014
Yield FY
2014
Yield FY
2015e
Shares
Outstanding
(millions)
Year
End
ACCESS BANK Buy 6.20 7.33 18% 1.90 0.40 0.60 0.70 9.19% 0.8% 22883.00 Dec.
DIAMOND BANK Buy 4.45 5.27 18% 1.54* 0.30 0.10 0.43* 7.5*% 1.8% 14475.00 Dec.
FIDELITY BANK PLC Under review 1.90 1.86 -2% 0.45* 0.33 0.18 0.22* 10.8*% 6.9% 28974.00 Dec.
FBN HOLDINGS Buy 9.18 12.86 40% 2.54 0.04 0.10 0.58 1.10% 0.0% 32632.00 Dec.
GUARANTY TRUST BANK Buy 28.97 28.42 -2% 3.40 2.10 1.75 1.90 7.20% 7.3% 29431.00 Dec.
STANBIC HOLDINGS Hold 30.00 32.37 8% 2.98* 3.60 1.25 2.3* 3.7*% 4.3% 10000.00 Dec.
STERLING BANK Hold 2.03 1.57 -23% 0.34* 0.26 0.06 0.8* 6.5*% 5.2% 21592.00 Dec.
SKYE BANK Under review 2.65 Under review Under review 0.30 Under review 20.7% 13219.00 Dec.
U B A Buy 5.35 7.87 47% 1.29* 0.44 0.10 0.44* 11.3*% 4.0% 32981.00 Dec.
ZENITH BANK Buy 20.91 24.60 18% 3.17 2.16 1.75 1.20 8.20% 4.3% 31396.00 Dec.
Food & Beverage
EV/EBITDA (x)
2014
Yield FY 2014
DANGOTE SUGAR REFINERY Under review 6.50 Under review 0.60 7.4% 12000.00 Dec.
CADBURY NIG. Under review 39.00 Under review 0.65 4.7% 1878.00 Dec.
FLOUR MILLS Hold 34.51 54.80 59% 1.93 3.50 1.60 7.10 3.60% 1.8% 2385.00 Mar.
HONEYWELL FLOURMILLS Buy 3.89 5.20 34% 0.30 0.17 4.7% 7930.00 Mar.
NESTLE FOODS NIG. Under review 850.01 Under review 38.00 17.50 34.5* 2.10% 4.6% 792.00 Dec.
P Z INDUSTRIES Hold 30.00 34.60 15% 0.81 3.0% 3970.00 May
U A C N Buy 41.50 72.60 75% 1.75 4.7% 1920.00 Dec.
UNILEVER NIGERIA PLC Sell 45.10 24.30 -46% 0.64 2.11 0.10 0.30% 5.0% 3783.00 Dec.
Building Materials EPS 2014e
EV/EBITDA(x)
2014e
Yield FY
2014e
LAFARGE WAPCO PLC Under review 98.00 Under review 3.50 3.30% 3.3% 3001.00 Mar.
DANGOTE CEMENT Buy 180.00 198.40 9.07 9.87 6.00 13.00 3.60% 3.5% 17040.00 Dec.
Breweries EPS 2014
EV/EBITDA(x)
2014
Yield FY 2014
GUINNESS NIG. Sell 164.00 111.00 -32% 6.30 2.70 7.00 9.30 5.40% 2.5% 1506.00 June
INTERNATIONAL BREWERIES Hold 20.01 24.50 22% 0.30 1.5% 3263.00 Mar.
NIGERIAN BREWERIES Sell 147.00 121.20 -18% 5.62 6.40 3.50 10.80 4.50% 3.5% 7562.00 June
Agriculture EPS 2013e
EV/EBITDA(x)
2014e
Yield FY
2014e
OKOMU OIL Buy 28.81 41.50 44% 2.20 3.00 0.25 9.00 3.20% 6.7% 953.00 Dec.
PRESCO PLC Buy 34.00 42.70 26% 1.29 1.60 0.10 9.20 0.40% 1.7% 1000.00 Dec.
Pharmaceuticals
EV/EBITDA (x)
2013
Yield FY 2013
GLAXOSMITHKLINE BEECHAM NIG. Buy 44.11 78.60 78% 3.10 4.30 0.75 8.90 2.50% 3.8% 957.00 Dec.
Oil & Gas
EV/DACF(x)
2014
Yield FY 2014
SEPLAT Buy 345.00 598.00 73% 0.58 0.87 3.10 4.70% 4.9% Dec.
Note – for full report on the recommended stocks kindly send an email to cslcsu@firstcitygroup.com
3. Daily Retail Report
Page 3
Retail views
Top Highlight
Politics
Nigeria has a new President
On Friday, 29 May, President Muhammadu Buhari was sworn into office. During his inaugural speech, the President stated his commitment to
serve everyone and commended the out-going President Goodluck Jonathan for his display of statesmanship during the general elections.
Judging from his inaugural speech, we believe the President’s top priorities to be: 1) Security: The President plans to step-up his offensive against
the terrorist group Boko Haram by relocating the Command Control Centre which is presently located in Abuja to Maiduguri; 2) Challenges in the
Niger Delta: While noting that the amnesty programme in the Niger Delta is due to end in December, the President promised to invest in projects
and programmes currently in place; 3) Power and; 4) Unemployment.
The President is yet to make public the names of the members of his cabinet. However, on Sunday, he made his first appointments when he
named Mr. Femi Adesina who is the Managing Director of The Sun Newspaper in Nigeria, his Special Adviser, Media and Publicity, and Malam
Garba Shehu, who was the Director, Media and Publicity of the APC Presidential Campaign Council, as his Senior Special Assistant, Media and
Publicity. We expect more appointments to be made this week (see, CSL: Buhari’s New Administration, 26 May).
Today’s news headlines
President names media aides as key appointments are awaited: President Muhammadu Buhari on Sunday announced the first set of
appointments into his administration with Mr. Femi Adesina and Malam Garba Shehu as his spokesmen. While Adesina would serve as Special
Adviser, Media and Publicity, Shehu would be the new Senior Special Assistant, Media and Publicity. Source: thisdaylive.com
Boko Haram bombs Maiduguri market, burns Yobe court: An Improvised Explosive Device believed to have been planted by suspected members
of Boko Haram on Sunday exploded at the Gamboru Market in Maiduguri, Borno State. No death were recorded but four persons were critically
injured in the incident which occurred barely 24 hours after 26 persons were reportedly killed when the sect members bombed a Monday market
in the city. The sect had on Friday night attempted to invade the troubled state capital but was repelled by the military, however this resulted in
16 people losing their lives. Source: punchng.com
Pressure mounts on Buhari to revisit fuel subsidy probe, oil blocks allocations: President Muhammadu Buhari has been under intense
pressure from oil and gas industry stakeholders to reopen all cases relating to fuel subsidy fraud with a view to prosecuting all those indicted. The
stakeholders said this has become necessary as most top officials indicted by the probe panel set up by former President Goodluck Jonathan
administration were released by security officials because they were close allies of the then government in power. They posited that all those
indicted one way or the other must face the full weight of the law, if the present government is sincere about ending corruption in the oil and gas
industry and Nigeria as a whole. Source: thisdaylive.com
Declare your assets publicly, civil groups tell Buhari: Civil society groups and activists on Sunday faulted the failure by President Muhammadu
Buhari and Vice-President Yemi Osinbajo to publicly declare their assets as promised by them during their electioneering. They have therefore
demanded that the assets be made public in the best interest of transparency and accountability. A statement by the head of Buhari’s media
team, Garba Shehu, on Saturday had indicated that the President and the Vice-President had submitted their asset declaration forms separately
to the Code of Conduct Bureau on Thursday. The contents of the forms were however not disclosed. Source: punchng.com