November 14, 2019 / 3:22 PM / a month ago

Nigerian stocks rise to five-week high as banks rally

ABUJA, Nov 14 (Reuters) - Nigerian stocks rose 1.84% to a five-week high on Thursday, powered by demand for stocks in the relatively liquid banking sector.

The index, which is down 16% so far this year, rose on Thursday to a level last seen in October, as Nigeria’s top 10 banking shares soared 7.04%.

Access Bank, which completed a takeover of local rival Diamond Bank in April, gained 9.6%. Access is up 43% year to date. (Reporting by Chijioke Ohuocha; Editing by Andrew Heavens)

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