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Nigeria stock index closes near one-year high

Channels Television  
Updated August 1, 2012

Nigeria’s all share index on Wednesday closed near a one-year high on rising 1.16 percent, lifted by strong half-year earnings from banks and cement firms, and an increase in foreign capital inflows.

The index rose to 23,329 points, the highest close since August 5 last year, when it reached 23,397 points.

Nigeria’s  index has gained almost 12 percent year-to-date, recouping earlier losses it sustained due to dwindling oil prices in May and weak global risk appetite in the wake of ongoing European economic turmoil.

Top gainers on Wednesday include Dangote Cement, rising 3.51 percent to 114.02 naira.

Others were Zenith Bank up 3.89 percent and FCMB up 2.24 percent.