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LequteMan
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Nigeria's Stock Exchange lost a massive 2.4% last week after the market tanked on the first day of trading, The Nation reports.
It is believed that the sell-off could've been as a result of action taken by foreign portfolio investors who have been trying to exit the equities market following their inability to repatriate funds. About $6.8m was pulled out of the country's equities. Here are some of the companies who pulled out:
Merill Lynch International
Brown Brothers
JPM Securities
The Bank of New York Mellon 1
The Bank of New York Mellon 2
HSBC Funds Services London
Deutsche Bank London
Standard Bank of South Africa
Credit Suisse International
It is believed that the sell-off could've been as a result of action taken by foreign portfolio investors who have been trying to exit the equities market following their inability to repatriate funds. About $6.8m was pulled out of the country's equities. Here are some of the companies who pulled out:
Merill Lynch International
Brown Brothers
JPM Securities
The Bank of New York Mellon 1
The Bank of New York Mellon 2
HSBC Funds Services London
Deutsche Bank London
Standard Bank of South Africa
Credit Suisse International
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