The Nigerian bourse saw a continuance of the bullish trend last week. The benchmark index recorded gains on all trading days, closing northwards 1.6% w/w to 40,868.4pts. The week’s performance was largely on account of two large caps, FBNH (+21.7% w/w) and AIRTELAF (+6.3% w/w). Both tickers saw buying interest as Airtel Africa disclosed plans to purchase minority interest (8.0%) in Airtel Nigeria, which could see FBNH exit its minority stake in AIRTEL. Consequently, the market’s YTD return strengthened to ...
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