Nigerian stocks rally to 3-1/2 month high

Reuters
A stockbroker transacts shares during a trading session at the Nairobi Securities Exchange in Kenya's capital Nairobi January 11, 2012. REUTERS/Thomas Mukoya

LAGOS (Reuters) - The Nigerian share index rose 1.81 percent on Friday to edge close to a 3-1/2 month high, lifted by strong gains in the oil and gas sector and heavyweight Dangote Cement. The index of Nigeria's top five oil and gas firms climbed 7.27 percent, helping the all-share index rise above 40,000 points, a level last seen in February. Dangote Cement, which accounts for around a third of the stock market's total value, rose 4.05 percent to 231.95 naira per share. Oil firm Oando and Forte Oil each rose the maximum 10 percent allowed.