Nigeria SE Rises 1% to 38,372.61; FBN Leads Advance

LAGOS (Capital Markets in Africa) – The Nigerian Stock Exchange Main-Board Index rose for the fifth day, climbing 1 percent, or 398.03 to 38,372.61. The move was the biggest since rising 1.8 percent on Nov. 24. The MSCI Emerging Markets Europe, Middle East and Africa Index declined 0.3 percent.

FBN Holdings Plc contributed the most to the advance, rising 4.9 percent. Learn Africa Plc increased 8.2 percent, the biggest gain. Continental Reinsurance Plc fell 5 percent, the biggest loss. The biggest movers also included: International Breweries, up 4.8 percent; Zenith Bank, up 1.1 percent; Flour Mills, down 4.7 percent; and Continental Reinsurance, down 5 percent. Index is at 52-week high.

Today, 25 of 159 shares rose, while 7 fell. The Nigeria SE is up 43 percent so far this year. The index is 56 percent above its 52-week low of 24,547.37 reached on March 7.

The Nigeria Naira was unchanged at 359.96 against the U.S. dollar.