Thread by @quansimodo

Good Evening and welcome to this week’s edition of Bulls and Bears powered by @Nairametrics and @WealthNG

Bulls and Bears, is a weekly thread where I look at happenings on the @NSEcontact

Bulls represent a strongly positive motion in the market. Bulls attack their opponents by swiping upwards.

Bears stand for negative market sentiments.
Bears attack opponents by lashing at them from top to bottom.

Please retweet from the very first thread so those on your timeline dont miss out. Thread starts here.

First a look at how the @nsenigeria performed this week.

The NSE All Share Index closed down 1.17%, ending the week’s trading at 27,306.81 basis points.

Year to date, the index is down 13.12%.

Cement Company of Northern Nigeria (CCNN) Plc was the best performing stock this week appreciating by 13.36% to close at N14.

On the flip side, Continental Reinsurance Plc was the worst performing stock this week, declining by 19.19% to close at N1.33.

Three stocks were marked down during the week.
Conoil Plc was marked down by N2, ex dividend price was N16.60.

Academy Press Plc was marked down by N0.05, ex dividend price was N0.40.

@MTNNG was marked down by N2.95, and ex dividend price was N132.5.

A markdown means that a dividend is subtracted from a company's share price.

Forte Oil Plc released its notice for its 40th AGM which is billed to take place on the 3rd of September. Among the special items to be discussed, is a motion authorizing the company to enter into discussions with Prudent Energy or its representatives.

The discussion pertain to the acquisition of identified downstream assets.

Prudent energy was the vehicle used by Abiodun Sowami in acquiring a key stake in Forte Oil. This could be an indication that Forte intends to acquire some assets from Prudent, on an arm's length basis

Red Star Express Plc, may be considering an employee equity scheme, following a motion passed by the company at its 26th AGM.

Shareholders have authorized the company to institute the scheme for its Executive Directors. The shares would be from its unissued share capital.

Oando Plc announced the appointment of Alex Irune as an Executive Director. Prior to his appointment, he was the Chief Operating Officer of Oando’s upstream unit, OER.

Who knows. Irune could be in the running, in case JAT decides to port to music. JAT by the way are the initials of the company's group CEO Jubril Adewale Tinubu.

Mobolaji Osunsanya, a Non-Executive Director resigned from the board effective August 9, 2019.

Universal Insurance Plc released a backlog of results.
The firm recorded a N45.5 million 2018 full year loss.
The firm also recorded a loss in its H1 2019, with a loss after tax of N173 million.

If youre unfamiliar with the stock, im not surprised. Its a penny stocks and the firm has been largely loss making in the last few years.

The company also announced that it had been appointed the official underwriter of the National Union of Road Transport Workers passenger manifest scheme.

NURTW aka up national by the way are the guys wearing green trousers and white tops present in bus parks.

Stationery producer Thomas Wyatt Plc also released an overdue FY 2018 and Q1 2019 results, and there was nothing to cheer about. Q1 2019 loss after tax stood at N16.7 billion.

The company is behind the popular apex mill notebook. Thursdays and Fridays are the usual throwback days, but here is a pic of one of its popular products.

Im not sure which will happen first. Thomas Wyatt making a profit or Arsenal winning the premiership. Most likely the latter.

Seplat Petroleum Development Company this week announced that its Chairman, ABC Orjiako had sold some of his indirect shareholdings in the company on the London Stock Exchange.

The shares sold were registered in the name of Vitol Energy Limited held for the benefit of Shebah Petroleum Development Company Limited.
Shebah, which is an entity controlled by Orjiako and members of his family.

Union Bank Plc raised N30 billion through a 10 year bond priced at 16.2%.

Dangote Flour Mills Plc announced that it had received a revised acquisition offer from Olam International Limited.
The offer has now been adjusted from N130 billion to N120 billion following the adjustments for net working capital and debt....

As well as shares held by Crown Flour Mills, Olam’s subsidiary.

In terms of results, this week has been relatively quiet.
Transnationwide Express Plc (also known as Tranex Plc) released its H1 2019 results.

Revenue increased by 13.2% to N410 million in 2019. Profit after tax rose by 320% to N18.5 million.

On to stocks worth keeping an eye on in the coming week. Stocks to watch by the way, is not a Buy/Sell/Hold list.
Merely stocks worth watching.

The GAZ banks (Guaranty Trust Bank, Access Bank and Zenith Bank) top next week’s watchlist, as the lenders’ H1 2019 results could be released anytime from now.

The three lenders are also likely to maintain their tradition of paying an interim dividend.

Conoil Plc has a spot in next week’s watchlist, as the company will be holding its Annual General Meeting (AGM) on the 16th of August.

RAK Unity will be closing its shareholders register on the 14th and 15th of August, 2019 in preparation of an interim dividend payment.
The 14th is also the qualification date, while the dividend will be paid on the 23rd of August.

Total Nigeria Plc, FBN Holdings and United Capital are also worth watching on a technical basis, as they are trading at multi year lows.

That’s it for now. If you would like to receive this as a newsletter, please send an email to [e-mail].

If you have any questions, feel free to tweet at me or @Nairametrics

*End*