Nigeria, March 9 -- Nigerian stocks advanced by 2.2 per cent last week on gains by oil & gas equities, taking the year-to-date yield to 26.6 per cent. The market achieved that in spite of a reasonable decline in trade volume.

Investors and analysts are currently awaiting the earnings reports of four of the big lenders and those of some big-cap companies, which could shape the direction of trade in the near term.

"Investors may still seek to lock in gains on stocks that have posted strong year-to-date returns, especially amid lingering caution following the recent NGX advisory on price movements," said analysts at Meristem Securities in their outlook for the week.

"The broader macroeconomic backdrop remains relatively supportive, and li...