Nigerian stocks rise 2.14pc to extend 2020 rally

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Nigerian stocks rose 2.18% on Monday, its first trading session of 2021, extending last year’s rally, lifted by shares of banking and consumer goods companies.

The index climbed to 41,148.95 points, a level last seen in May 2018, almost a three-year high.

Nigeria’s stock index climbed 50% in 2020, its highest level in 17 years after domestic investors piled into equities in the last quarter of the year following excess cash on money markets due to low bond yields.