Nigeria: Nestle Inches to N1, 000 As Market Rebounds

20 February 2013

Nestle Nigeria Plc led the price gainers Tuesday as the Nigerian equities market rebounded after days of profit-taking slowed the market momentum. The fast moving consumer goods (FMCG) company's shares rose by N50 to close at N910 per share, N90 shy of a record N1, 000.

Despite the high price of the Nestle , analysts at Renaissance Capital, who met with management of the company last week said they still preferred the shares of Nestle to others in the same FMCG category.

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