Nigerian stocks extend rise ahead of major earnings reports

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Airtel Africa, Flour Mills, WAPCO, MTNN and Fidson largely stoked gains the same day the central bank held benchmark lending rate at 11.5 per cent to measuredly deepen growth.

Sector giants like Flour Mills and Okomu Oil released earnings statements, pointing to growth in both top-line and bottom-line.

Gains were equally helped by a 0.54% lift to 604.79 basis points in the Consumer Goods Index, making it the greatest advancer of the five sectorial indices. Thirty two gainers emerged compared to 19 decliners, causing the market to close with a positive breadth. The All Share Index improved by 1.21 per cent to close at 41,584.94 basis points. Market capitalisation jumped to N21.754 trillion.RT Briscoe led gainers, appreciating by 10% to close at N0.22. Champion Breweries grew by 9.81% to end today’s trade at N2.35. Universal Insurance went up by 9.52% to N0.23. African Alliance Insurance rose to N0.24, notching up 9.09% in the process. Fidson completed the top 5, climbing up by 8.60% to N5.05.

 

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