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Tuesday, May 28, 2024

Nigerian Stock Returns Turn Positive Year to Date

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Blink and you missed it. Nigerian Stock returns have turned positive year to date after being down as much as 12 percent earlier in the year.

Stocks measured by the all share index are up 2.65 percent this year, led by a rally in large cap names.

Stocks closed trading on Monday up 2.1 percent or 568 index points.

Nigerian stocks are still relatively cheap compared to emerging market peers as they trade at a price to earnings ratio of 9.71 times.

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