FCMB Climbs over Multifold Shares Trading Volume
FCMB Group Plc (Ticker: FCMB) surged by about 5.3% over the last five trading sessions on the Nigerian Exchange (NGX) to hit N7.95, according to data obtained from the local bourse.
Market value of the financial services group grew to N157.431 billion on NGX at the end of trading session on Friday, reflecting investors’ sentiment.
The banking stocks topped volume NGX volume drivers on Friday as investors transacted more than 114 million of the financial services group company shares ahead of July 31 earnings release.
Data from the NGX revealed that FCMB was the most traded stock in terms of volume, accounting for 18.91% of the total volume of traded in the market on Friday.
Its share price had been flattish at N7.7 after early gain at the beginning of the week. Though share volume traded throughout trading session in the recent past were huge day in and day out, the banking group only rose by 5%, signaling Investors have mixed feeling ahead of Q2 earnings release.
In a regulatory filing, FCMB told the Nigerian Exchange that its board of directors has approved the group unaudited financial statement for the second quarter of the year.
The group said the Q2-2024 results will be made available on or before July 30, 2024 in line with regulations. FCMB maintained that the closed period earlier declared from 1 July 2024, restricting the company’s Insiders from transacting in the shares will continue until 24 hours after the results has been released to the public.
At the current market price, analysts said FCMB Plc is trading 36% below its peak price. The banking stock had hit N12.45 per share in the Nigerian bourse early in 2024, which was the company highest market value over 52-week. #FCMB Climbs over Multifold Shares Trading Volume
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