MARKET NEWS
Nigerian Dual-Listed Stocks Rally on Frontier Index Return - BLOOMBERG
By Emele Onu
Nigerian stocks with overseas listings outperformed Wednesday after index provider FTSE Russell said it would allow the country’s equities to return to its frontier-markets benchmark later this year.
While Nigeri’s main NGX 30 index rose 0.3%, Airtel Africa Plc which trades in Lagos as well as London, jumped by the maximum daily limit of 10%. Seplat Energy Plc and Guaranty Trust Holdings Co. Plc, two other dual-listed firms, also rallied, as did Zenith Bank Plc which plans to list in London next year.
