Nigerian stocks rally, cross psychological level of 70,000 for first time

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Nigeria's share index crossed a psychological threshold of 70,000 points for the first time on Wednesday after stocks gained for the third straight session, Refinitiv data showed.

Nigerian equities started to rally at the end of May, when new President Bola Tinubu launched reforms to the country's

Stocks have gained 35% since May, as local funds pile back into equities. Also double-digit inflation which is rising has supported the shift to equities as yields on the fixed income market turn negative.categorySerbian President Aleksandar Vucic dissolved parliament on Wednesday and called an early election on Dec. 17, aiming to cement his authority as he works out how to normalise ties with Kosovo, the main precondition for EU membership.

 

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