September 23, 2016/Punch Oyetunji Abioye The naira hit a new record low of 436 against the United States dollar at parallel market on Thursday, down from 428 on Wednesday, as dollar shortages on the official market persist. The development came amid depleting external reserves, which stood at $24.8bn on Monday. […]
Updates
Guinness Nigeria Plc – Uphill Battle for Brewer
Culled—Proshare September 22, 2016/Vetiva Research Volume shock cuts FY’16 sales to lowest since 2008 · ₦3.5 billion FX loss undercut earnings · Reports ₦2 billion LAT in FY’16 · Bleak outlook, forecasts revised, shares rated SELL Revenue slump amidst volume rout, lower price mix In line with guidance from […]
NSE Halts 2-Day Gains on Selloffs across Major Counters
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Thursday halted a two-day consecutive gain on selloffs across major counters. This was mainly the result of late selloffs in the shares of Nigeria’s most capitalised company and cement producer, Dangote Cement Plc dropping 148.84 points as the […]
