Trader’s Diary: Original Gangsters and Femi O.
Traders Diary is a weekly column where I look at happenings in the Nigerian stock market and my personal life .
Monday, 29th April
Schools have resumed. Back to crawling traffic at Chevron. Woke up late. Market down 2.5% in April.
Mobil and Total Q1 results are down. Spike in finance costs.
UACN Q1 looking good. A recovery maybe?
Equity assurance Q1 was crap as usual. Still in losses.
Fidson Q1 profit pressured due to finance costs. When will rights issue funds kick in?
Aluminum extrusion showing slight decline in profit in Q1.
Capital Hotels Q1 dropped sharply. What happened?
Union Bank Q1 2019 profits are flat. Nice to see recoveries in place of impairment. Fees and commissions line doing decently.
Caverton Q1 2019 results coinciding with heavy trades. Insider trading or random? Decent results by the way. Helicopter revenue is up sharply.
Forte oil is on full bid today. What’s happening?
Spike in insurance benefits pushes continental reinsurance Q1 2019 profits down sharply.
NEM bounces back in Q1.
CBN licenses 5 new banks. Dashed to Sanusi Fafunwa, rumoured site of one of them. No show. Went home.
EKO Hospital still carrying losses in Q1. Same with Dicon.
Dangote Sugar cuts expenses and profit jumps in Q1.
Eterna showing the same pattern as other oil and gas firms. Interest rates are spiking.
ASL Q1 results are decent. Shame it’s on its way out.
Livestock feeds appoints solid non ED. Why isn’t he the MD?
Champion bounces back in Q1 despite everything spiking.
NCR cuts costs of sales in Q1.
Tuesday, 30th April
Looking forward to payday and the public holiday.
Got to work much earlier than yesterday. Still tired though.
Slightly rainy weather, then brightened.
Ecobank Q1 results are poor. Impairments way too heavy for Q1.
Seplat Q1 results boosted by tax credit.
Spike in cost of goods sold drives Neimeth Q1 down.
Beta glass Q1 results are flat.
Notore lowers H1 losses.
Wednesday, May 1
Chill day. Public holiday. Chicken all day. Yay. Pharmadeko hit hard by codeine ban.
Thursday, May 2
Rainy day. Thank God it stopped early. Off to a Red Media briefing.
Forte Oil declares N1.15 special dividend. No wonder the full bid in the last few days.
Red Media has Swanky digs.
First day at new office. Way better.
Seplat vests shares. No wonder 100k traded today.
Presco delays results again.
Berger Paints Plc does a clean out. New MD and CFO. I wonder why. The company has done fairly well.
Will keep an eye on it.
Japaul is still trading huge volumes. What could be happening there?
Market starts May on a positive. Albeit marginally. Up 0.04%
April was ugly.
Friday, May 3
Attended the First Bank AGM. Original gangsters won’t let go, despite NA dressing down Oba.
I will advice clients to sell.
NAHCO key owners strengthening the board.
Forte releases details of divesting. Three different entities. Femi O. style.
Got home early. Met my Google Fit quota for the day.
Japaul best performing stock for the week,up 39.2%. Insiders running things.
Goldlink sub 50 kobo, down 19%. Why is that stock on the exchange fgs?