Buying interest in BUA, GTB, and Flour Mill lifts equities

The domestic equities market opened the week on a positive note as buying interest in BUA cement (+2.0percent), Guaranty Trust Bank (+1.6percent) and Flour Mill (+10.0percent) buoyed the All-Share index 29bps to settle at 24,766.12 points.

Consequently, investors gained ₦37.8bn as market capitalisation increased to ₦12.9tn while Year to date loss eased to -7.7percent.

• BUA, Dangote, Stop The War!
• GTB increases loans by N120bn in Q1

Activity level improved as volume and value traded advanced 83.6percent and 34.5percent to 186.5m units and ₦1.3bn respectively.

On the part of corporate actions, Flour Mills Plc submitted its Unaudited FY:2020 Result which revealed that revenue rose 8.8percent y/y to ₦573.8bn from ₦527.4bn in FY:2019 while profit after tax advanced 184.4percent to ₦11.4bn from ₦4.0bn in FY:2019.

Similarly, Guinea Insurance Plc Unaudited H1:2020 Result revealed that its  Gross premium written fell 32.0percent y/y to ₦514.4m from ₦756.2m in H1:2019 while the company reported a loss after tax of ₦100.3m from a ₦538.3m loss in H1:2019.

Also Chams Plc Unaudited H1:2020 Result saw revenue fell 53.5percent y/y to ₦910.1m from ₦2.0bn in H1:2019 while the company reported a loss after tax of ₦13.1m from a ₦226.0m profit in H1:2019.