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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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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