MSCI removes Forte Oil, FBN, PZ and Guinness from frontier market index

MSCI removes Forte Oil, FBN, PZ and Guinness from frontier market index

In what is likely to stoke some sell pressure on affected stocks, US-based index provider, Morgan Stanley Capital International (MSCI), has deleted Forte Oil, First Bank Nigeria Holdings, Guinness Nigeria and PZ Cussons Nigeria from its main frontier markets index, with effect November 30. The aforementioned companies, save for Forte Oil, were added to the…

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