§ Global stock markets had another day of volatile intraday trends as reports of slowing manufacturing activity in China conflicted with growing investor optimism incited by successful bond auctions in Spain and France.
§ Domestic equities eased back into the reds today as gains in the Conglomerates (+113bps) and Healthcare (+295bps) sectors were outdone by losses in the Financial Services (-104bps) and Services (-112bps) sectors.
§ Trading activity was boosted by sustained trading in Tier 1 banks, particularly in ZENITHBANK (-86bps) and GUARANTY (+71bps), which together traded N1.70 billion, 56% of market turnover.
Market Commentary
§ Index lost 18bps, putting YTD returns at -19.39%.
§ The market recorded a turnover of N3.03 billion on 439 million units traded, as volume and value of transactions were respectively 71% and 49% higher than November averages.
§ With 21 losers and 21 gainers, market breadth was flat today.
§ GLAXOSMITH, NB and WAPCO topped the gainers’ chart today, with respective gains of N1.21, N0.92, and N0.50 whilst IBTC, DANGSUGAR and ETI led the losers, with respective losses of N0.38, N0.22 and N0.20.
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