Stocks Round Up (7/8/14): Why Conoil Topped The Gainers Chat With A 10% Pop

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Conoil Plc topped the gainers chart today gaining 10% to close at N68.7 gaining N6.3 on its way to the top. The share price opened higher at N65.4 and then rose to N68.7. The rise is probably as a result of the recent announcement that that company will pay N4 dividend with the register closing on the 25th of August. Though the result is not yet out, this impressive dividend payout is surely giving the share price the right pop and is likely going to drive it up further. Union Bank gained 5% after the CFO announced he expected a strong second half result.

Banking stocks again dominate trade as the quintet of Zenith, Access, ETI, UBA & GTB all featured in the top 5 trades and value traded respectively. All excluding Zenith Bank joined the gainers list.