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Nigerian stocks fall for third straight day as inflation soars to 17-year high

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Traders ignored impressive half-year earnings of Presco and FBN Holdings as they put huge volumes of both firms’ shares to sale.

That figure matches the forecast of analysts at United Capital released before the inflation statistics became public.

“We expect the bear market to persist as the impact of the increased benchmark interest rate continues to weigh down equity markets,” said analysts at investment bank and brokerage firm United Capital in an outlook note seen by PREMIUM TIMES.

 

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