ABUJA: Nigerian stocks climbed to a more than two-year high on Wednesday as domestic funds bought shares across sectors and global oil prices rose on hopes of an effective Covid-19 vaccine

The all-share index rose 1.9% to close at 33,268.36 points, extending gains for a fourth session to a level last seen in November 2018.

The index of Nigeria’s top 10 lenders rose 4.07% to lead the charge, while consumer goods stocks jumped 2.65%. Oil stocks climbed 1.27%. Benchmark Brent crude oil rose to a more than two-month high above $45 a barrel on Wednesday on hopes for an effective Covid-19 vaccine and an industry report showing US crude inventories fell more than expected.

— Reuters