Speaking the Nations Mind

NSE Down To 9-Month Low As Elections Draw Nearer

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Nigerian stocks dropped to a more than nine-month low on Thursday, hurt by mixed second-quarter earnings and worries about political risk in the run-up to next year’s presidential election.

The stock index fell for the fifth straight session, down 0.4 percent to 36,154 points. Stocks have fallen 5.1 percent so far this year, after climbing 42 percent last year.

Second-quarter earnings have been mixed, with most lenders posting declines in loan growth, citing a weak economy, while several consumer goods companies have recorded lower profits.

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