The Nigerian Stock Exchange has announced the delisting of the shares of Confidence Insurance Plc from its Daily Official List.

The Exchange noted in its report on Friday that by the action, the total number of listed equities has been reduced to 201, while the number of listed companies is 194.

Although the report did not give the reason for the delisting, sources at the market noted that the company had not been performing well for many years.

They added that the company had also not met up with most of the post listing requirements of the Exchange, adding that this had led to the delisting.

Meanwhile, the NSE report noted that the Guinness Nigeria Plc has adjusted its price of its shares for the N8 per share dividend payout.

According to the report, the price was adjusted as recommended by their board of directors.

It added that payment of the dividend would commence on November 2, 2012.

In the Over-the-Counter Bond market, a turnover of 200.995 million units, worth of N221.74bn were exchanged last week, in 1,235 deals.

This was in contrast to 185.756 million units worth N198.95bn in recorded the preceding week, in 991 deals.

The report noted that a total of 50 stocks appreciated last week, while 25 stocks depreciated and 123 stocks remained unchanged.

This showed an improvement when compared with activities recorded the preceding week, where 48 equities gained, 28 equities declined, and 123 equities remained constant.

Nestle Nigeria Plc led 49 other stocks on the price gainers’ table, rising by N10 to close at N625 per share, from N615 per share at which it opened.

Guinness Nigeria followed with a gain of N4.40 to close at N281 per share, while Ashaka Cement Plc gained N2.75 to close at N19.50 per share.

Other share price gainers include: Cadbury Nigeria Plc, rising by N2.44, Nigerian Breweries Plc which gained N2.15, Julius Berger Nigeria Plc up by N2, and First Bank of Nigeria Plc which gained N1.48.

On the contrary, Chemical and Allied Products Plc led 24 other companies on the price losers’ table, dropping by 1.45 to close at N27.55 per share, down from N29 per share at which it opened.

Source: Punch (written by Udeme Ekwere)