Nigerian stocks post biggest daily gain for 6 months

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Traders work at the Nigerian Stock Exchange in Lagos, February 13, 2015. REUTERS/Joe Penney

LAGOS, March 7  – Nigerian stocks posted their biggest daily rise for six months on Tuesday, rising 2.23 percent to 25,129 points.

Nigeria’s biggest listed company, Dangote Cement , majority-owned by Africa’s richest man Aliko Dangote and accounting for a third of total market capitalisation, rose 4.92 percent.

Brokers say better than expected corporate results especially from the banking sector after Zenith Bank and Access Bank declared dividends amidst a weak economic outlook bouyed stocks.

 

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