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PanAfrican Capital Daily Market Review
Thursday, 4
th
September, 2014

Market Highlights
The Market depreciated at the end of todays trading as Investors on the floor of
the Nigerian Stock Exchange traded 2,253.229 million shares worth N38.878 billion
in 5,304 deals. The market capitalization of the listed equities decreased by 0.46
percent to close at N13.544 trillion from N13.607 trillion recorded in the previous
trading day. The All-Share Index of the NSE also decreased by 0.46 percent to close
at 41,017.49 from 41,207.79 on Wednesday.

QUARTERLY RESULTS
COMPANY
TURNOVER
(B)
CURRENT
PAT (B)
PREVIOUS
PAT (B) PERIOD
MANSARD 9.611 0.814 1.842 Q2,2014
BETA GLASS 7.99 0.8671 0.8507 Q2,2014
GUARANTY 132.985 44.008 49.014 Q2,2014
ACCESS BANK 117.932 22.587 21.097 Q2, 2014
Source: Nigerian Stock Exchange

MONEY MARKET INDICATORS (04/09/2014)
INDICES RATE9%
NIBOR(180 days) 14.29
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
July-2014 May-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) 15.00 (75.00)

INFLATION RATE July June.
NBS (Year-on-Year Inflation Rate) 8.30 8.20

MONTHLY CRUDE OIL PRICE
29/08/2014
CRUDE OIL PRICE(BONNY LIGHT) ($) 101.7
Source: Central Bank of Nigeria
Market Update
Access Bank meeting investors over possible share sale
Access Bank has been meeting with domestic investors over the past week to gauge
interest in a possible rights issue of 60-70 billion naira ($369-$431 million) by the
fourth quarter, a fund manager and a banking source with knowledge of the roadshow,
said on Thursday. The lender, which raised a $400 million in Eurobond in June, wants
to bolster its core capital, the fund manager who attended the meetings in Lagos told
Reuters, declining to be named. Access Bank was also discussing with investors in
Abuja. An official from Access Bank declined to comment.
Qatar National Bank acquires $200 million stake in Ecobank
Pan-African lender, Ecobank Transnational Incorporated (ETI), announced Thursday
that Qatar National Bank (QNB) has acquired a 12.5 percent stake in it from Asset
Management Corporation of Nigeria (AMCON). The stake, worth $200 million of
Ecobank shares were transferred to the Gulfs largest bank on Thursday at 20.01 naira
each. AMCON acquired the stake after Ecobank merged its Nigerian operations with
failed lender Oceanic Bank, which AMCON helped to recapitalise, before the Ecobank
takeover. With the sale, AMCON, the second-largest shareholder in Ecobank, has
divested its stake.
U.S. Stocks Rise After ECB Cuts Rates, Boosts Stimulus
U.S. stocks rose, sending the Standard & Poors 500 Index to an all-time high, after the
European Central Bank unexpectedly cut interest rates and said it will buy asset-backed
securities to stimulate growth. The S&P 500 (SPX) added 0.5 percent to 2,010.38 at
10:49 a.m. in New York. The Dow Jones Industrial Average rose 64.57 points, or 0.4
percent, to 17,142.85. Trading in S&P 500 stocks was 6.4 percent above the 30-day
average at this time of day.







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
Thursday Wednesday
% Change 04/09/2014 03/09/2014
NSE Index 41,017.49 41,207.79 -0.46
Deals 5,304 5,392 -1.63
Volume (M) 2,253.229 201.067 +1,020.64
Value (BN) 38.878 2.443 +1,491.40
Market Cap (TRN) 13.544 13.607 -0.46
Source: Nigerian Stock Exchange
TOP TRADED STOCKS
STOCK VOLUME (UNITS) VALUE ()
ETI 1,784,909,411 35,666,760,717.04
FIDELITYBK 195,150,819 380,670,578.09
TRANSCORP 71,104,760 449,712,252.06
STERLNBANK 40,079,238 86,976,417.22
UBCAP 29,878,298 64,344,958.27
Source: Nigerian Stock Exchange
TOP 5 GAINERS

TOP 5 LOSERS
STOCK
LAST
CLOSE
TODAY
CLOSE
CHAN
GE STOCK
LAST
CLOSE
TODAY
CLOSE
CHANG
E
NNFM 19.95 20.94 0.99 NESTLE 1047
1031
-16.00
INTBREW 28.01 29.00 0.99 FO 224.97 220 -4.96
PZ 35 35.95 0.95 GUINNESS 184.94 181.00 -3.94
ETI 16.62 17.01 0.39 CADBURY 56.87 55.08 -1.79
UNILEVER 48.01 48.3 0.29 PRESCO 36.3 35.3 -1.00
Source: Nigerian Stock Exchange
NAIRA EXCHANGE RATE
CURRENCY BUY SELL
BUREAU DE CHANGE
04/09/2014
US DOLLAR 165.00 163.00
POUNDS 285.50 280.00
EURO 236.00 232.00
CBN
04/09/2014
US DOLLAR

154.73

155.73

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

DIVIDENDS() CLOSURE DATE AGM DATE
FLOUR MILLS NIGERIA 1 for 10 2.10 18/8/2014 10/9/2014
NORTH. NIG. FLOUR MILLS N/A 0.40 18/8/2014 19/9/2014
GUARANTY N/A 0.25 (Interim) N/A N/A
ACCESS N/A 0.25 (Interim) 9/9/2014 N/A
Source: Nigerian Stock Exchange
AFRICAN INDICIES
INDEX NAME TODAY PREVIOUS DAY %CHANGE
GHANA; GSE CI 2,205.50 2,205.83 -0.01
EGYPT 30 9,650.43 9,627.60 +0.24
SOUTH AFRICA; JSE 51,911.23 51,793.65 +0.23
CASABLANCA; MASI 9,607.26 9,609.50 -0.02
BOTSWANA; DCI 9,437.35 9,423.89 +0.14
Source: Various Countries Exchanges