Friday, July 28, 2017

Video - Nigeria stocks surge to three year high

Nigerian stocks continue a rally witnessed for the last 17 successive days, an achievement last accomplished in 2001. The market crossed the 37,000 point level on Thursday to close 1.37 percent stronger at 37.245 points. The level was last seen in November 2014. On Wednesday stocks surged 3.4 percent to hit the 32-month high. The rise has been attributed to positive results from several mid-sized firms that have announced half-year earnings. It is also being seen as a sign that Nigeria's economy is on the road to recovery. Governor Godwin Emefiele said recently that Nigeria is likely to emerge from a recession this year.

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