Nigerian stocks rose to a fresh two-year high on Monday, lifted by gains in cement and banking shares extending a rally which started last month, traders said.

The main index climbed 0.96 percent to cross 34,000 points, a level it last reached in May 2015.

Index provider MSCI this month increased Nigeria’s weight on its frontier index to 7.9 percent from 6.5 percent, meaning that funds tracking it would buy shares to replicate the new weight, analysts say.

In April the central bank allowed investors to trade the naira at market rates, lifting a currency control for them, to help boost confidence as Nigeria grapples with a currency crisis and a recession brought on by low ...

http://medianet.info/2017/06/19/nigeria-stocks-at-2-year-high-as-recession-eases/