An aggregate turnover of 1.212 billion shares was transacted in 31,167 deals worth N12.24 billion higher than 932.35 million shares traded the previous week in 30,649 deals valued at N9.50 billion.
In the same vein, the
Total market return for the week jerked up by 2.08% as The NSE
All -SHARE INDEX climbed to 32,290.59 points from the bottom of 31,632.46 points it closed the previous week while
Total market capitalization of listed equities leaped by 2.08% to stand at N4.114trillion well above N4.030trillion it closed the preceding week.
CORPORATE RESULTS:
A
Total of six (6)
Corporate results were released during the week ended. Two(2) of them were audited full year results of
Cement Company of
Northern Nigeria &
Nampak PLC while the remaining four (4) were quarterly results of
Tourist Company of
Nigeria ,Leventis, NFI
Insurance &
Union Homes Savings &
Loans PLC . (Please see the attached market update for the comprehensive results).
DE-LISTING:
Two(2)equities have been placed on
Technical suspension following receipt of their applications for De-listing from The
Daily Official List (DOL) of The
Nigerian Stock Exchange (NSE). These
Companies were
CFAO &
Blackwood Hodge Nigeria PLC .
Price ADJUSTMENT:
The
Price of
Fidelity Bank PLC was marked down on
Friday December 8, 2006 for its dividend payment of 11k. The ex-div
Price was N2.25k
TERM OF THE WEEK
UNIT
Sales : A measure of the
Total Sales that a firm earns in a given reporting period, as expressed on a per
Unit of output basis. Typically, when using or analyzing a
Unit Sales figure, it should be based on a physical product, such as the number of tons of coal sold, rather than on the number of
Services rendered.
Unit
Sales , which is a top-line item, is a useful figure for
Financial /research analysts because it enables them to determine average product prices and find possible margin pressure.
For instance, let us assume ABC
PLC . has N250 million in revenue and it sold 5 million units. By taking the ratio of the two (N250 million/5 million), an analyst can see that the average selling
Price is N50 per
Unit . Suppose that in the next reporting period, that same firm had an average selling
Price of N48. The analyst could see this as a
Red flag, which could warrant more
Research into the firm.
MARKET UPDATE: REFERRALS
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Out to
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--------------------------------------------------------
Attachment :
Stock MARKET BRIEF FOR THE WEEK ENDED DECEMBER 8 2006.xls
--------------------------------------------------------------------------------
MERISTEM
Securities Ltd .
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Ribadu Road , Off
Awolowo Road ,
P.O Box 51585
Falomo, Ikoyi,
Lagos .
Phone:2707467-8, 2691929,2670297,7919269; Fax: 2690118
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