Corporate
earnings, equity markets and growth prospects face downside risks as Islamist
terrorist group, Boko Haram, over the weekend claimed responsibility for a bomb
attack in Lagos, says Damina Advisors, a frontier market-focused research firm.
“The
presence of Boko Haram terrorist operations in Lagos means the fundamental
risks to the Nigerian economic outlook in 2014 have multiplied exponentially,”
Damina says in a note released July 14.
“A
major bomb attack in Lagos will accelerate capital market flight, weaken the
naira, dent economic growth, reduce corporate earnings and slash equity market
values,” says the research firm.
Stocks
have risen just
