MARKET UPDATE FOR APRIL 24, 2017
INVESTORS REACT TO POSITIVE NUMBERS, AMIDST HOPE OF SUSTAINED GROWTH, PROFIT Trading activities on the floor of the Nigerian Stock Exchange on Monday recorded the highest daily gain in a very long while, on positive reaction to first earnings reports that were released to the market during trading session. The numbers, most for first quarter score-cards surprised investing public as some companies that reported full year negative earnings position reversed to give insight of what the 2017 financial will look like if the current tempo is sustained to year-end. Before now the few earnings reports made available reflected mixed performance, meaning that if subsequent numbers go positive as more are expected to hit the market today, it might pull the market out of negative territory year-to-date to support the seeming positive macro-economic data released so far, showing that the economic is on recovery path. While it is true that the 2017 budget is still being expect...