Nigerian stocks higher

14 May, 2016

Nigerian stocks rose to their highest level since January on Friday as investors bought shares in gasoline marketers following this week's deregulation of fuel imports, traders said. The main index climbed 2.2 percent to 26,439 points, with the banking, petroleum and food sectors leading gains. Shares in Oando Plc rose 10.2 percent to 5.29 naira as investors bought up gasoline retailers. The local unit of French oil major Total also gained 6.02 percent, Forte Oil rose 4.99 percent, while Eternal Oil jumped 9.78 percent.

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