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


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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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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