FCMB closed trading this Xmas week 2.21% up on Wednesday crawling back from its year low of N2.72. Not only did it join the gainers chart, it also ranked as the most traded stock for the day in terms of volume. About 158million FCMB shares exchanged hands that day with a value of about N441.6billion. That coincidentally was by my records the highest intra day trade FCMB was recording this year. That aroused my attention as I wondered who must be buying. Considering that the share price was at a year low a day before, I wondered if this was some insider or external player taking a significant stake in the company. Unfortunately, we have no way of knowing just yet as transparency is still a major issue with the Nigerian stock exchange. We can only but speculate till we get better Intels. And trust us to share once we find out.
FCMB posted an 11% rise in Earnings per share (96 kobo) in its 9 Months unaudited results for September 2014.
