Investors turn bearish as Nigerian stocks drops by 1.45% in seven-week low

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LAGOS, Sept 15  – Nigerian stocks dropped 1.45 percent in late trades on Friday to more than a seven-week low, as investors turned bearish on equities and sold off shares across the board, led by Dangote Cement.

Nigeria’s biggest listed firm, Dangote Cement, rose on Thursday after it said it had joined the race to acquire South African cement maker PPC. However, it fell 3.97 percent on Friday to a one-week low.

Rival cement firm Lafarge Africa also fell on Friday, down 2.3 percent. Source: Reuters

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