Nigerian stocks rebound on financial services shares’ gains

Nigerian stocks bounced back on Friday as the benchmark index ticked up by 0.47 per cent on the back of huge investors’ demand for financial services stocks but the gain was too little to erase the loss the market recorded at the previous session.

A formal announcement will likely follow in the days ahead Shares in FBN Holdings jumped 2.59 per cent to N11.90 after the news broke., which measures investors’ sentiment towards trade, was positive as 24 gainers emerged compared to 12 laggards. UPDCREIT added 8.64 per cent to end today’s trade at N4.40. Guinness went up by 6.85 per cent to N39. Champion Breweries climbed 6.27 per cent to N2.71.Unity Bank led losers, declining by 6.52 per cent to close at N0.43. Jaiz Bank shed 5.97 per cent to close at N0.63. Custodian fell to N7.10, losing 5.33 per cent.Courteville dipped to N0.37, recording 5.13 per cent depreciation. Chams closed at N0.20, going down by 4.76 per cent.Altogether, 444.9 million shares estimated at N3.

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