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Nigeria stocks index ends 2020 as world-best with 50% gain

Nigerian benchmark stock index rose 1.9% at close yesterday, moving the year-to-date gain to the most in 17 years.

The Lagos bourse closed with 50% gain at 40,270.7 points, most since December 2007. The equity index is the world leader among the 93 stock indexes tracked by Bloomberg.

Image source: Bloomberg

Some of the companies that posted the most positive return for the year include Equity Assurance Plc at 400%, Neimeth International Pharmaceuticals 260% and FTN Cocoa Processors, which climbed 230%.

Dangote Cement’s share buy-back, which commenced on Wednesday and ended Thursday, boosted market performance, adding to the positive trading close for the year, United Capital said in a note to clients.

Also read: Nigerian stocks head for best annual run since 2013

Source: Bloomberg

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