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February 22, 2018

Earnings optimism in the banks kept the market in the green for the second consecutive day; tier I banks such as UBA(+3.17%), FBNH(+3.14%) Access(+1.57%) and Zenith(+0.79%) all rose on foreign demand. Consumer brands such as Flourmill(+1.38%) and Nestle(+0.58%) also gave the index a boost. Capping today’s gains was NB(-1.29%) which dropped to a 10-month low still on negative reaction to its full-year numbers. Other notable losers were Dangsugar(-2.73%) and Intbrew(-0.18%). Investors largely stayed off non-financials, leading turnover to drop to N3bn ($8.5m), trades in Zenith and Guaranty account for 36% of activities. Today’s +0.24% gain lifted ytd return to +10.50%, we expect the market to dip tomorrow on profit taking in the banks.

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February 21, 2018

The equities market switched between small gains and losses today as a rebound in tier I banks was offset by...

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February 20, 2018

The equities market struggled to close up today as a rebound in index heavyweight Dangcem helped offset weakness in banking...

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February 19, 2018

The equities market started the week on a negative note as investors largely stayed on the sidelines in the absence...

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