Nigerian stocks dip as investors book profit

  • 📰 PremiumTimesng
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 78%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

The all-share index fell 0.12 per cent.

Nigerian stocks fell 0.12 per cent as investors took profit in newly admitted BUA Foods, which had garnered over 59 per cent until the end of last week when gains began to plateau.

Ahead of an analyst call due on Tuesday, BUA Foods issued its earnings report for the nine months to September, which shows after-tax profit at N16.6 billion. That translates to a price-to-earnings ratio of 67.2 at the close of business on Monday, meaning the stock is significantly overvalued and is trading high above its real value.

“We expect the market to sustain its bullish momentum as investors continue to position themselves ahead of the dividend season amidst profit-taking activities off high-performing stocks,” analysts at brokerage firm and investment bank United Capital said in their forecast note for this week seen by PREMIUM TIMES.

Eterna rose to N6, notching up 6.95 per cent in the process. Wapic added 6.25 per cent to end trade at N0.51. Consolidated Hallmark completed the top 5, climbing by 4.48 per cent to N0.70.Veritas Kapital led losers, declining by 8.70 per cent to close at N0.21. Mutual Benefits shed 7.41 per cent to close at N0.25. Cornerstone fell to N0.51, losing 7.27 per cent.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 3. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Abiodun Woos Investors With Incentives For Ease Of Doing BusinessOgun State Governor Dapo Abiodun has urged investors to take advantage of the infrastructural facilities, friendly tax regime put in place by his
Källa: LeadershipNGA - 🏆 4. / 77 Läs mer »