Long-Term Bullish Despite Correction

July 2008 | Market Strategy

We believe the Lagos All-Share Index could have further to fall in the short-to-medium term, though we remain bullish the index in the long run. While an overvalued banking sector, increasingly visible problems with access to credible information and the regulatory authorities, and a decline in investor confidence are likely responsible for the index's current woes, we believe strong fundamentals are likely to continue to support long-term gains.

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