Nigeria, June 10 -- Last week, Nigerian stocks advanced by 2.6 per cent, driven by increased demand for bank and insurance equities. The main equity index has returned 11.4 per cent so far this year, with the Consumer Goods Index leading the charge.

"Investors might start positioning for Q2-earning season in June, favoring corporates with FX gains, cost control, clear growth trajectory, and those with potentials for quality interim dividend payment," analysts at investment bank United Capital said ahead of the week.

This week, profit-taking activities may be witnessed in stocks that are close to their 52-week high.

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