Movers & Shakers: April 28, 2014

Nigeria: ASI -0.67%, USD 7.66m

It was an absolute dire start to the week in Lagos as value traded amounted to $7.66m with tiny activity in the likes of GTB ($986k), FBN ($928k) and Zenith ($602k). Banking stocks came under some pressure with the Index falling -0.94% with ETI (-2.43%) and FBNH (-2.27%) dragging the sector lower. Consumers (-0.39%) also ended the day lower with Guinness (-4.99%) taking the most strain after reporting disappointing Q3 2014 results. There were a number of companies that released results with WAPCO, Skye Bank and Unilever all reporting Q1 2014 results.

Kenya: NSE 20 +0.03%, USD 5.6m

Activity also dropped off in Nairobi today with value traded amounting to $5.6m on the back of a fall in foreign participation (26.9%). It was a surprise to see KenolKobil as the most active stock today with 16.68m shares traded in the name. Local participation drove activity in EQBNK (+2.8%) as 2.31m shares traded on the day. Not much on the go in Safcom today as 4.08m shares traded in the telco.

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