Nigeria's local bourse index hits 3-month high on earnings

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A view of the trading floor at the Nigerian Stock Exchange (NSE) at the end of trading hours in Lagos April 24, 2012. REUTERS/Akintunde Akinleye

LAGOS (Reuters) - Nigerian stocks index rose to their highest in three months on Wednesday, boosted by positive nine month earnings posted by several companies.

The overall share index rose to 38,056 points at 1154GMT, the level last seen on August 2, when it closed at 38,350 points.

"Investors are taking positions on most of the stocks that have shown a positive outlook as a result of the impressive 9-month profits posted recently," stockbroker Rasheed Yussuf said.