Nigerian stocks rise to 8-week as oil prices gain By Reuters

Nigerian stocks rise to 8-week as oil prices gain

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Nigerian stocks rise to 8-week as oil prices gain

ABUJA, Aug 12 (Reuters) - Nigerian stocks .NGSEINDEX
climbed to an eight-week high on Wednesday lifted by gains in
shares of energy companies after global oil prices rallied.

Recovering after two days of losses, the main share index
rose 1.04% to 24,141.48 points on Wednesday. The index of
Nigeria's top five .NGSEOILG5 oil and gas companies climbed
5.24%.
Brent crude LCOc1 was up 68 cents, or 1.5%, at $45.18 a
barrel by 1350 GMT, after falling around 1% on
Tuesday. Seplat SEPLAT.LG , which is also listed in London SEPL.L ,
rose by 10% - the maximum allowed on the Lagos bourse. Energy
firm Oando OANDO.LG and Total TOTAL.LG each rose more than
1%.
Oil's rally on Wednesday followed an industry report showing
U.S. crude inventories last week fell more than analysts had
expected, bolstering expectations fuel demand in the world's
biggest economy can weather the COVID-19 pandemic.
The earnings season in Nigeria kicked off last month with
investors watching results closely to determine the
extent of the damage inflicted by the pandemic on businesses.
A total of 18 firms advanced while 11 declined and more than
100 others recorded no trades.
Other top gainers were Cadbury CADBURY.LG and Airtel
Africa AIRTELAFRI.LG , the third-biggest listed firm, which
rose more than 9%.

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NSE 30	1,593.45	-14.49	-0.90%
NSE All Share	39,799.89	-295.60	-0.74%
US 30 Futures	30,914.0	-457.0	-1.46%
S&P 500 Futures	3,807.88	-20.12	-0.53%
FTSE 100	6,483.43	-168.53	-2.53%
DAX	13,786.29	-93.04	-0.67%
South Africa Top 40	60,754.30	-1309.05	-2.11%

Brent Oil	64.43	-1.68	-2.54%
Crude Oil WTI	61.62	-1.91	-3.01%
Gold	1,732.45	-42.95	-2.42%
Silver	26.668	-0.969	-3.51%
Copper	4.1018	-0.1617	-3.79%
London Cocoa	1,912.00	+24.00	+1.27%
London Wheat	207.40	-0.10	-0.05%

USD/NGN	381.080	+0.500	+0.13%
EUR/USD	1.2076	-0.0100	-0.82%
GBP/USD	1.3931	-0.0082	-0.59%
EUR/NGN	498.500	-5.060	-1.00%
USD/CAD	1.2740	+0.0141	+1.12%
GBP/JPY	148.47	-0.36	-0.24%
AUD/USD	0.7704	-0.0168	-2.13%

Access Bank	8.25	+0.15	+1.85%
Zenith Bank	25.45	-0.40	-1.55%
UBA	8.15	-0.05	-0.61%
FBN Holdings	7.35	+0.00	+0.00%
Guaranty Trust Bank	31.00	-0.05	-0.16%
Sterling Bank	1.700	-0.020	-1.16%
Dangote Cement	207.40	-12.60	-5.73%

Nigerian stocks rise to 8-week as oil prices gain

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