As usual pls find below the weekly stock market report for the week ended January 18, 2013. In continuing with the trends of the past few weeks the stock market All Share Index appreciated 5.9% in the past week with UACN Property gaining the most with 29% and John Holt loosing the most by 22%.
Another interesting information in the report is the announcement by First Aluminum Nigeria (FAN) that they have reached a deal with an unnamed “world class supplier” of Aluminum Coil. FAN will effectively procure the coils, paint them and sell. This effectively means, they will no longer manufacture these coils themselves, a move they claim is in response to market realities. As usual, such moves come with job losses which the company all but confirmed. The rest of the report can be found below;