July 24, 2018 By Kelechi NNANTA InvestAdvocate Lagos (INVESTADVOCATE)-Bears on Tuesday returned to the Nigerian equities market as the benchmark index declined 0.70 percent and driven by losses across most sectors. InvestmentOne reports that market breadth index at the close of the trading session on the Nigerian […]
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Intraday Update: NSEASI Down -0.31% on Sell-Offs
July 24, 2018 By InvestAdvocate Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at midday Tuesday is down -0.31 percent and driven by sell-offs across most sectors. InvestmentOne says as at the time of filing in this report that market movers on the domestic bourse are insurers, Sovereign Insurance […]
Dangote Cement Plc: Still strong performance, despite increasing tax burden; upgrade to HOLD
July 24, 2018/Cordros Report Update: DANGCEM published Q2-18 result last week, showing Group revenue grew 18% y/y, while net profit was lower by 24% y/y. Revenue beat our estimate by 2% while net profit was much lower (52% variance), on higher (Nigeria) effective tax rate. Following changes to our tax […]
