Monday, Oct 18th 2021 5:08 AM

Market Digest Nigeria


Guinness loses N1bn amid gains by rival


Guinness loses N1bn amid gains by rival, Nigerian Breweries


Guinness Nigeria shareholders saw their rival, Nigerian Breweries, gain as they lost about N1 billion during the same period. The end of trading last week showed investors seemed to be more interested in Nigerian Breweries compared to Guinness.

Analysis of Guinness trading activities showed investors priced its stock low at the capital market, causing the share price to decline by -0.17 percent, from Monday’s N29.05 per share to N29 per share.

According to data from the Nigerian Exchange, share price of Guinness traded flat from Tuesday to Friday, as investors were not willing to raise their offering price for the producer of Orijin and Harp Lager beer.

What seemed like a slight drop caused investors about N1 billion, as the company’s market capitalisation dwindled to N63.52billion from N64 billion, which it opened last week’s market with.

The reduction in Guinness stock value occured at a time shareholders at Nigerian Breweries gained N20 billion, following an increase in market value. Ripples Nigeria had reported the company was up by 4.46 percent.

Nigerian Breweries’ market value had settled at N467.81 billion by end of trading last week Friday, against the N447.8 billion it ended with two weeks ago, deflecting increased investors interest in the company’s stock.

As competition between the largest and second largest market shareholders intensifies among consumers, they are also jostling for investors interest in the capital market.

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