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Nigerian markets rally after Buhari wins in peaceful presidential vote LAGOS: Nigeria's main shares index soared to its biggest daily gain this year and bond yields dropped as investors cheered Muhammadu Buhari's victory in a presidential election that passed without disruption.The main shares index closed 8.3 percent higher at a near 3-months high on Wednesday as markets in Africa's biggest economy welcomed the outcome of the closely-fought vote."The peaceful conclusion of the election has allayed the fears of foreign investors about the market," Ayodeji Ebo, head of research at Afrinvest said, referring to the bourse.He said most listed firms, especially banks, were trading at a discount to their true value, attracting foreign investors."Investors were waiting on the sidelines to see election concluded in a peaceful manner. So everyone is taking positions now while those that are in are not willing to sell," Ebo said.Foreign investors fled Nigerian markets starting late last year, unnerved by political uncertainty before the vote as ...

Saudi Arabia, Egypt stock move little as Iran talks drag on DUBAI: Stock markets in Saudi Arabia and Egypt moved very little in early trade on Wednesday as talks on Iran's nuclear programme continued past the Tuesday deadline.Oil prices edged lower amid speculation that a last-minute deal over Iran's nuclear programme would be reached that could allow more Iranian crude onto world markets. Brent was down 0.2 percent and U.S. oil fell 0.8 percent.The main Saudi index inched down 0.1 percent as heavyweight Saudi Basic Industries ...
Nigerian markets rally after Buhari wins presidential vote LAGOS: Nigeria's main shares index soared to its single biggest daily gain this year on Wednesday while bond yields fell sharply and the naira currency surged in the black market as investors cheered Muhammadu Buhari's presidential election victory.The main shares index rose 8.4 percent as financial markets in Africa's biggest economy welcomed the peaceful outcome of the closely-fought elections, marking the first time in Africa's most populous nation where a sitting president was voted out ...
Petchems, banks drag down Saudi Arabia; rest of Gulf strong DUBAI: Saudi Arabia's bourse fell further on Tuesday in line with oil prices, while most other Gulf markets rose, reversing a pattern seen in the last few weeks when the kingdom outperformed the region.Brent and U.S. oil dropped about 2 percent each as Iran and six world powers ramped up the pace of negotiations in an effort to reach a preliminary deal on Tehran's nuclear programme by the end of the day. If achieved, a ...
Saudi Arabia stock slides further; property stocks lift Egypt DUBAI: Bears appeared to be winning a tug-of-war in Saudi Arabia's stock market during early trade on Tuesday after oil prices extended losses, while Egypt's bourse rose, led by real estate stocks.Brent and U.S. oil dropped about 2 percent each as Iran and six world powers ramped up the pace of negotiations to reach a preliminary deal by the end of the day that could ease sanctions and allow more Iranian crude onto world markets.Saudi ...
Saudi bourse's rules for opening to foreigners expected by end-April DUBAI: Saudi Arabia's market regulator will publish the final rules governing the opening of the kingdom's stock exchange to direct foreign investors by the end of April, a senior Saudi banker told Reuters.His comments correspond to a report in pan-Arab newspaper Asharq al-Awsat on Tuesday, which quoted unnamed informed sources in the kingdom as saying the regulations will be published in April and the market will officially open to overseas institutions 60 days later.The opening ...
Nigerian stocks climb to 3-week high on possible Buhari win LAGOS: Nigerian stocks extended their gains on Tuesday, rising almost 1 percent in early trade to a 3-week high as investors reacted positively to a possible win for the opposition party in Saturday's closely fought presidential election.Opposition contender Muhammadu Buhari held a sizeable lead as counting in the country's election resumed on Tuesday, raising the prospect of a ballot box victory for a man who first came to power three decades ago via a military ...

 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 20, 2015
Reserves $16.132 bln