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Daily Business News Brief – November 25th, 2022

25
Nov


Shareholders of Nestle Nigeria lose N94 billion on sell pressure – Nairametrics
The selling pressure witnessed on the shares of Nestle Nigeria Plc during Thursday’s trading session on the NGX has resulted in shareholders losing about N94.326 billion. Checks by Nairametrics showed that the consumer goods stock dropped by 10% to N1,071 per share from N1,190.00 with which it opened the trading session yesterday.……..Read More

Investors dump Nigerian stocks amid rising inflation – Punch
Nigeria’s equity market, in recent times, has been in the eye of the storm. At the beginning of the year, equity market was on a bullish run. But things have gone south since May this year. Understandably, equity trading is not one-way traffic. It is expected to work as a trading system where buying and selling take place, according to experts.So, should there be an issue when there is sell-off? No. However, investors and market watchers raise eyebrows when sell-offs continue unabated in the market.……….Read More

Economic downturn hits manufacturers, oil, services firms – Punch
Economic crunch is biting manufacturers, oil and gas firms as well as services-rendering companies in Africa’s most populous nation whose growth tumbled in the third quarter of 2022. The Nigerian Gross Domestic Product Report Q3 2022 released by the National Bureau of Statistics on Thursday showed that the economy grew by 2.25 per cent (year-on-year) in real terms in the third quarter of 2022 as against 4.03 per cent reported in the same period of 2021………….Read More
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