39 Stocks Soar, SCOA Nigeria Reports N385.6m Loss

• 39 Stocks Soar, SCOA Nigeria Reports N385.6m Loss

A total of 39 stocks appreciated at the close of trading on the floor of the Nigerian Stock Exchange on Thursday, as the bourse’s market capitalisation grew by N174bn from N12.662tn to N12.836tn.

A total of 542.803 million shares valued at N8.009bn exchanged hands in 5,939 deals.

The NSE recorded a 1.37 per cent gain to settle the year-to-date return at 38.59 per cent. Nineteen stocks depreciated as the NSE All-Share Index closed at 37,245.17 basis points from 36,740.77 basis points.

SCOA Nigeria Plc, in its earnings report filed with the bourse, posted a half-year pre-tax loss of N385.6m.

For the half-year ended June 2017, its revenue stood at N1.07bn compared to N2.88n recorded in the corresponding period of last year.

SCOA had recorded a loss of N469m in 2016 half-year report.

Conoil Plc topped the gainers list, advancing by 10.17 per cent, to close at N36.40.

This was followed by Champion Breweries Plc, Nestle Nigeria Plc, International Breweries Plc and Jaiz Bank Plc, which also appreciated by 6.74 per cent, five per cent, five per cent and five per cent, respectively.

However, Cadbury Nigeria Plc led the loser’s chart, declining by 9.68 per cent, to close at N11.20. Also topping the losers’ table were UAC Property Development Company Plc, Morison Plc, Oando Plc and Livestock Feeds Plc, which declined by 5.46 per cent, 4.90 per cent, 4.76 per cent and 4.65 per cent, accordingly.

The NSE food/beverage, NSE insurance, NSE banking indices advanced by 3.84 per cent, 2.21 per cent and 1.74 per cent, respectively, while the NSE industry and NSE oil/gas indices recorded respective declines of 0.49 per cent and 0.06 per cent.