Suspension
of 41 companies by the NSE for not submitting annual reports. The NSE-ASI
closed at 24,310.03 -0.015% ,Volume for the week was a
cumulative 1.685 billion shares
Although, former Minister of Finance and World
Bank Managing Director, Dr Okonjo-Iweala was confirmed by the
Senate to be a Minister in the new Jonathan administration, the
market continued its downward drift. It appeared to mirror last weeks
trading pattern with an uptick on Thursday only to reverse the next day,
same as last week.
However volume on that day was not at the same level.
Suspension of 41 companies by the NSE for not submitting annual reports on
time is not good news. CBN deadline of September 30, 2011 for sale of
distressed banks to conclude puts some pressure on traders and
optimists. The NSE-ASI closed at 24,310.03 -0.015% (-0.02%
in the previous week). Volume for the week was a cumulative 1.685
billion shares (2.339 billion shares in the previous week). In a
market still reeling from Transcorps strong performance this year, many have
missed the +68% rise in Niemeth International.
A premium profile on
www.broadstreetlagos.com gives you access
to the data you need. Over the next few weeks we will discuss more
indicators.
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