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NGX All-Share Index Sheds 0.36% as Market Extends Bearish Trend


By Goddy Egene
The stock market opened for the week extending the negative performance of last week with the Nigerian Exchange (NGX) Limited All-Share Index (ASI) declining by 0.36 per cent to close at 37,857.89 yesterday. Similarly, the market capitalisation shed N70.9 billion to close lower at N19.723 trillion.
The market had went into the bears’ territory last week due to profit-taking after a positive performance the previous week. Specifically, the market dipped by 0.57 per cent. That bear run was extended to yesterday following sustained profit-taking in MTN Nigeria Plc, Zenith Bank Plc and BUA Cement Plc.
Although only 13 stocks depreciated compared with 16 price gainers, losses by the bellwethers propelled the negative close. Market operators had said the market would display a mixed trend, on profit-taking and repositioning for half-year earnings reporting season kicking off any time soon. ....

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Lekki Gardens gets new executive director


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Lekki Gardens, Nigeria’s indigenous real estate company, has appointed Mrs Emily Atebe as an executive director.
It disclosed this in a statement on Saturday titled ‘Former FBNQuest CFO, Emily Atebe, joins Lekki Gardens as executive director’.
The statement said Atebe was a seasoned financial management expert with over two decades of extensive work experience that cuts across leading industries including aviation, insurance and banking.
A thoroughbred professional, her expertise in strategic finance, investment banking and corporate finance among others, provided requisite leverage for her career progression which ultimately earned her several recognitions at the pinnacle of Nigeria’s banking industry, it stated. ....

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