Nigeria, Feb. 3 -- Nigerian stocks advanced by 0.9 per cent last week on the back of relatively strong appreciation in consumer goods and bank stocks as investors' interest in stocks improved, with transaction volume rising by 3.6 per cent.

The main equity index added 1.53 per cent in January, but the outlook for the whole is even more optimistic. Analysts at the investment bank Cardinal Stone are betting that equities will return 40 per cent this year.

"The equities market is expected to maintain its positive momentum as investors continue to position themselves ahead of the FY-2025 earnings season and possible corporate action declarations," said analysts at United Capital in their outlook for the week.

"Nevertheless, given the eleva...