Invest Data Consulting Ltd

The equity market selling pressure continued as profit taking dominated trades in the banking and consumer good sub-sector of the market to keep the composite index NSEASI and the market capitalization on the negative direction.  The mixed performance of first quarter earnings released did not influence the market in any way for the week.  The NSEASI and market capitalization dropped by 1.48 percent to close lower at  34,485.72 points and N11.75 trillion respectively. TRADES FOR THE WEEK FIDELITY BANK PLC (FIDELITYBK) This bank is among the top ten Nigerian banks with business branches in the major cities and commercial centres of Nigeria. The bank is focus on commercial, corporate and consumer banking, also leveraging on its investment banking as former merchant bank. Its strong retail and investment banking products have attracted traders and SME to the bank. Regardless of all the factors militating against the banking sector, its earnings and assets are robust to s

HISTORY Livestock Feeds was established in 1963 by Pfizer as a subsidiary to the pharmaceutical business which was introduced to Nigeria few years earlier. Following importation of exotic milking cows and hybrid chickens into the country by Germans, Dutch and later Americans, the need to provide health and nutritional products led to creation of animal health division and then the feed division. The first mill of 5MT/hr was installed at Ikeja in 1963, followed by Aba 1964 and Kaduna in 1965 with 4MT and 3.5MT per hour capacity respectively. Accelerated growth in urban and sub-urban population and demand for poultry meat and egg impacted positively on the feed business leading to phenomenal growth in Livestock Feeds business nationally. The impressive performance propelled upgrade of the milling output to 10MT/hr automatic machines at Ikeja, Aba and then Benin between 1983 and 1985, while Kaduna was given a 6MT\hr back-up mill. The era of boom also witnessed the establishm