Stocks rise 7% in May as MSCI rebalancing spurs bulls

Filed under: Company News |

Nigerian stocks rose 7.75 percent in May, helping to erase year-to-date losses for the All Share Index (ASI), as the rebalancing in the MSCI index attracted funds to the bourse. The MSCI, whose indices are followed by billions of US dollars from institutional investors, has increased the weighting of Nigeria’s equity market on its popular…

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