Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Unilever Nigeria Jumps on Investors’ Bargain Bets: Lagos Mover

Feb. 15 (Bloomberg) -- Unilever Nigeria Plc, a consumer-goods manufacturer, made its biggest gain in more than five years as institutional investors bet it was a bargain after a price slump, FBN Capital Ltd. said.

The stock rose 5.3 percent to 49.50 naira at the close in Lagos, Nigeria’s commercial capital, its biggest gain since Aug. 13, 2007. Some 64.6 percent of the three-month daily average volume was traded, according to data compiled by Bloomberg. The stock lost by 9.6 percent to 47 naira yesterday.

“Unilever is gaining from increased demand from institutional investors that considered it a good price after yesterday’s sell off,” Bunmi Asaolu, an analyst at Lagos-based FBN Capital said by phone today. “We rate it neutral and an investor can buy to hold based on fundamentals.”

Unilever’s net income for the nine months through September was little changed at 4 billion naira from a year earlier, it said in October. Revenue rose to 41.7 billion ($265 million) naira, from 40.4 billion naira.

The stock has gained by 6.5 percent this year, compared with a 18.5 percent rise in the Nigerian Stock Exchange All-Share Index.

To contact the reporter on this story: Emele Onu in Lagos at

To contact the editor responsible for this story: Dulue Mbachu at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.