Nigerian stocks gain N112 billion after Airtel’s announcement of new mobile money investments

Nigerian stocks were 0.52 per cent or N111.6 billion higher on Tuesday in an advance that helped the bourse cancel the loss recorded at the previous trading session., which gained 4.39 per cent or N38.30, following its announcement that Mastercard, TPG and Qatar Investment Authority have ploughed additional investments worth $125 million in total into its mobile money unit as minority shareholders., according to a valuation released in March.

“This week, we expect the NGX to trade sideways in the absence of bullish triggers,” analysts at brokerage firm United Capital said in a note seen by PREMIUM TIMES. Prestige Assurance rose to N0.47, notching up 4.44 per cent in the process. Airtel Africa completed the top 5, climbing up by 4.39 per cent to N9.10.Total topped the losers’ chart, declining by 9.97 per cent to close at N216.80. Mutual Benefits shed 6.90 per cent to end trade at N0.27.

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