May 5, 2020 / 12:50 PM / 21 days ago

Nigerian stocks rise to eight week high after lockdown is phased out

ABUJA, May 5 (Reuters) - Nigerian stocks rose 1.84% on Tuesday to an eight-week high as shares gained across sectors a day after the government started a gradual easing of a coronavirus lockdown.

The stock market, which has lost 14% so far this year, rose for the seventh straight session to 23,504 points, a level last seen in March.

Nigerian funds have been switching back to equities from fixed-income securities, hoping for a stock market rebound later this year after a coronavirus-induced rout in oil prices prompted foreign investors to sell-off their holdings. (Reporting by Chijioke Ohuocha; Editing by Alex Richardson)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below