Nigeria, Aug. 3 -- Nigerian stocks retreated by 0.8 per cent last week, despite the release of several strong half-year results, as profit-taking pressured trade. Sell-offs in consumer goods stocks fuelled the slide.

This week, more corporate results are expected, notably those of the big banking institutions, which could shape the direction the market may go in the near term.

This week, increased positioning, notably in stocks that pay dividends at least twice a year, could be witnessed as the market awaits the release of half-year corporate results.

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The pick, a product of an...