Nigeria’s main share index neared a 9-month high today, after rising for a third straight day as investors poured cash into banking and consumer goods stocks.
The stock market, which has the second-biggest weighting after Kuwait on the MSCI frontier market index, climbed 2.9 percent to 30,999 points by 1234 GMT, a level last seen on October 2.
Stocks are up 5.2 percent so far this year, wiping out earlier losses since the Central Bank of Nigeria (CBN) floated the naira this week and eased trading restrictions on the currency that caused foreign investors to flee.
(By Chijioke Ohuocha; Edited by Toby Chopra) via Reuters
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