Daily Market Update | 10-11-2023
Daily Market Update (Equities) The Nigerian Equities market ended today’s trading session on a positive note as its benchmark index added 0.05% to settle at 70,854.18 points. The market’s year-to-date (YtD) returns consequently increased to 38.25% from yesterday’s 38.18%. Gains in FCMB, ECOBANK and PZ Cussons offset losses in Fidelity, GTCO and DANGOTE SUGAR. Today, […]
Weekly Commentary and Stock Recommendation: 6th November – 10th November 2023
Global Economy According to the Chinese National Bureau of Statistics, China’s headline Consumer Price Index (CPI) declined by 0.2% YoY in October 2023 (vs. negative 0.1% in September 2023). On a MoM basis, CPI edged lower by 0.1% in October 2023 (vs. a 0.2% gain in September 2023). The headline figure was dragged by a […]
News Flash | Fitch Ratings affirms Nigeria’s “B-” Rating
Fitch Ratings, a credit rating agency that rates institutions, corporations, and countries for their creditworthiness, has affirmed Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. Rating Drivers Fitch emphasized key factors such as Nigeria’s large economy, developed and liquid domestic debt market, and large oil and gas reserves, as an […]
