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Nigerian stocks rise to five-week high as banks rally

Published 14/11/2019, 16:18
© Reuters.  Nigerian stocks rise to five-week high as banks rally
ACCESS
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NGSEBNK10
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ABUJA, Nov 14 (Reuters) - Nigerian stocks rose 1.84% to a

five-week high on Thursday, powered by demand for stocks in the

relatively liquid banking sector.

The index, which is down 16% so far this year, rose on

Thursday to a level last seen in October, as Nigeria's top 10

banking shares .NGSEBNK10 soared 7.04%.

Access Bank ACCESS.LG , which completed a takeover of local

rival Diamond Bank in April, gained 9.6%. Access is up 43% year

to date.

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