Nigerian bank stocks rally on economic recovery hopes

by | May 30, 2017 3:48 pm

First Bank Holdings led a rally of Nigerian banking stocks on Tuesday, fuelled by hopes that Africa’s biggest economy will emerge from recession soon, dealers said. First Bank Holdings, the parent company of Nigeria’s oldest commercial lender First Bank, rose 10.02 percent in early trade to 5.38 naira ($0.0171), a level last seen on Oct…

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