Nigeria stocks near 8-month high on investor interest after FX float

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LAGOS (Reuters) – Nigerian stocks ended near an 8-month high on Tuesday as investors renewed interest in shares after the central bank floated the naira to lift currency curbs viewed as harming investment and helping cause the economy to contract.

The main share index rose 2.27 percent to 29,422 points, a level last seen on October 2015.

Investors snapped up shares across banks, and consumer goods, hoping that a “freely” traded interbank forex market will help foreign buyers return to stocks after Nigeria ended an currency peg, which caused them to flee.

 

(Reporting by Chijioke Ohuocha)

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