Q1 Update for Nigerian Real Estate and Construction Stocks
Dolapo Omidire . 10 years ago
dividend
dolapo omidire
economy
investment
julius berger
lagos
nigeria
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Article Summary: Stocks in the real estate and construction sector of the Nigerian Stock Exchange experienced a poor start to 2015, returning -11.82% to shareholders over the 1st quarter. Julius Berger and Costain were responsible for all the negative returns seen as they fell -16.44% and -24.08% respectively. The marginal gain of 1.3% from the UAC Property Development Company along with the flat performance…
Stocks in the real estate and construction sector of the Nigerian Stock Exchange experienced a poor start to 2015, returning -11.82% to shareholders over the 1st quarter. Julius Berger and Costain were responsible for all the negative returns seen as they fell -16.44% and -24.08% respectively. The marginal gain of 1.3% from the UAC Property Development Company along with the flat performance from all other real estate and construction stocks did little to improve the sector’s return.
The tough economic climate with the backdrop of political uncertainty was the burden of most equities on the entire stock market in Q1 2015. This was illustrated on Nigerian All Share Index which returned -6.5% over the period.
With a foot in Q2, asset markets across board have responded positively to the peaceful elections and the victory of the presidential opposition party. This should be reflected in the share price returns of a few of the liquid real estate and construction equities by the end of Q2.
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