8A, Elsie Femi Pearse, Adeola Odeku

Victoria Island, Lagos.

Tel: 234 (0) 1 2716899, 2718630
W: www.panafricancapitalplc.com
E: info@panafricancapitalplc.com
For further enquiries, please call Mayowa Oladipupo on +2348035042312 or Ayo Dawotola on +2348035026371
PanAfrican Capital Daily Market Review
Wednesday, 2
nd
July, 2014

Market Highlights
The Market closed on a flat note at the end of todays trading as Investors on the
floor of the Nigerian Stock Exchange traded 388.936 million shares worth N4.478
billion in 5,488 deals. The market capitalization of the 194 listed equities was flat by
0.00 percent to close at N14.070 trillion from N14.070 trillion recorded in the
previous trading day. The All-Share Index of the NSE also was flat by 0.00 percent to
close at 42,609.75 from 42,611.30 on Tuesday.

QUARTERLY RESULTS
COMPANY
TURNOVER
(B)
CURRENT
PAT (B)
PREVIOUS
PAT (B) PERIOD
AIICO INSURANCE PLC 8.811 0.915 0.746 Q1, 2014
LAW UNION AND ROCK INSURANCE PLC 1.042 0.194 0.053 Q3,2013
REGENCY ALLIANCE INSURANCE PLC 1.066 0.275 0.141 Q1, 2014
Source: Nigerian Stock Exchange

MONEY MARKET INDICATORS(02/07/2014)
INDICES RATE9%
NIBOR(180 days) 14.38
LIBOR (180 days) (USD) 0.33
TB (180 days) 12.25
5 years F.G. Bond 13.67
PRIME LENDING RATE 17.90
DEPOSIT RATE 2.638.44
Source: Financial Market Dealers Quotations

CBN MONETARY INSTRUMENTS RATES
May-2014 Mar-2014
MONETARY POLICY RATE(MPR) 12.00 12.00
LIQUIDITY RATIO(LR) 30.00 30.00
CASH RESERVE RATIO(CRR) - Private(Public) 15.00 (75.00) 12.00 (75.00)

INFLATION RATE May Apr.
NBS (Year-on-Year Inflation Rate) 8.00 7.90

MONTHLY CRUDE OIL PRICE
30/06/2014
CRUDE OIL PRICE(BONNY LIGHT) ($) 114.7
Source: Central Bank of Nigeria
Market Update
Mansard I nsurance gets NAI COM approval on micro insurance products
Underwriting firm, Mansard Insurance plc, has secured approval of the National
Insurance Commission (NAICOM) to roll out micro insurance products in Nigeria,
becoming one of the first to get this approval after the guideline was released in
November 2013. Micro insurance products are insurance products designed to be
appropriate for the low-income market in relation to cost, policy terms, coverage and
delivery mechanism. NAICOM classifies micro-insurance policies to cover little risks
and therefore, exclude special risks like motor insurance (except tricycles and
motorcycles), professional indemnity and other pecuniary risks with sums insured
higher than N1 million.
Minority shareholders raise concerns over Lafarge Africa deal
A group of minority shareholders has raised concerns about the deal proposing a
combination of the Nigeria and South Africa businesses of Lafarge Cement Wapco plc.
South Africa based fund management company, Coronation Fund Managers, which says
it has more than $200 million invested in the Nigerian equity market, with $10 million of
that amount across its Africa funds in Lafarge, said the deal is unfavourable to minority
shareholders of the company. The complaint comes ahead of next weeks voting by
Nigerian shareholders to approve the deal. The Fund raised three points of concern
relating in particular to pricing and valuation, suggesting that these have been skewed
against minority shareholders in Nigeria in particular.
Emerging Stocks Climb to 13-Month High on Global Growth Outlook
Emerging-market shares rose, sending the benchmark index to the highest level in 13
months, as growing confidence in global economic growth lifted technology companies.
Dubais stock market rallied the most in the world. The MSCI Emerging Markets Index
increased 0.8 percent to 1,059.90 by 11:40 a.m. in New York, set for its highest close
since May 2013. Data yesterday that showed manufacturing expansion from China to
the U.K. and the U.S. has boosted the outlook for developing-nation exporters.








This report is produced by PanAfrican Capital Plc as a guide for clients that intend to invest in Securities on the
basis of their own investment decision without relying completely on the information contained herein. No
responsibility or liability is accepted for error of fact or any opinion expressed herein.
KEY MARKET INDICATORS
INDICATORS
Wednesday Tuesday
% Change 02/07/2014 01/07/2014
NSE Index 42,609.75 42,611.30 0.00
Deals 5,488 5,455 +0.68
Volume (M) 388.936 620.845 -37.35
Value (BN) 4.478 4.978 -10.04
Market Cap (TRN) 14,070 14.070 0.00
Source: Nigerian Stock Exchange
TOP TRADED STOCKS
STOCK VOLUME (UNITS) VALUE ()
FBNH 72,539,768 1,171,835,843.78
FCMB 60,630,277 266,751,106.51
TRANSCORP 30,370,821 159,184,766.39
NEM 26,516,793 22,314,127.34
OANDO 19,701,061 553,381,233.13
Source: Nigerian Stock Exchange
TOP 5 GAINERS

TOP 5 LOSERS
STOCK
LAST
CLOSE
TODAY
CLOSE
CHAN
GE STOCK
LAST
CLOSE
TODAY
CLOSE
CHANG
E
SEPLAT
700.00
720.50 20.50 JBERGER 76.45
69.00
-7.45
FO 200.00 207.00 7.00 TOTAL 179.60 173.00 -6.60
GLAXOSMITH 64.00 68.00 4.00 GUINNESS 198.00 192.02 -5.98
UACN 65.10 67.85 2.75 NESTLE 1,150.00 1,145.00 -5.00
INTBREW 28.00
29.01 1.01 CADBURY 80.00 78.00 -2.00
Source: Nigerian Stock Exchange
NAIRA EXCHANGE RATE
CURRENCY BUY SELL
BUREAU DE CHANGE
02/07/2014
US DOLLAR 165.00 163.00
POUNDS 285.50 280.00
EURO 236.00 232.00
CBN
02/07/2014
US DOLLAR

154.74

155.75

Source: Central Bank of Nigeria and Market information
CORPORATE ACTIONS
COMPANY BONUS

DIVIDENDS() CLOSURE DATE AGM DATE
NPF MICROFINANCE BANK N/A 0.10 9
TH
JUNE, 2014 26
TH
JUNE, 2014
CAPITAL HOTEL PLC N/A 0.05 9
TH
JUNE, 2014 24
TH
JUNE, 2014
NASCON N/A 0.90 10
TH
JUNE, 2014 19
TH
JUNE, 2014
Source: Nigerian Stock Exchange
AFRICAN INDICIES
INDEX NAME TODAY PREVIOUS DAY %CHANGE
GHANA; GSE CI 2,374.61 2,375.84 +0.05
EGYPT 30 8,142.25 8,162.20 -0.24
SOUTH AFRICA; JSE 51,883.71 51,480.19 +0.78
CASABLANCA; MASI 9,213.55 9,259.46 -0.50
BOTSWANA; DCI 9,161.27 9,133.87 +0.30
Source: Various Countries Exchanges