Weekly Commentary and Stock Recommendation: 29th January – 2nd February 2024

Global Economy In a coordinated stand against inflation, both the UK’s Bank of England (BOE) and the US Federal Reserve (Fed) held their key interest rates steady this week. While economic data showed some positive signs, the central banks emphasized their commitment to taming inflation pressures. The Fed opted to keep its federal funds rate […]

Monthly Fixed Income Market Report | January 2024

Monthly Fixed Income Market Report The Nigerian Fixed Income Market started 2024 on a bearish note in January, with average yields rising across board. The FGN bond market saw the average yield increase by 36bps Month-on-Month (MoM) to settle at 14.49%. Similarly, the Nigeria Treasury Bills market experienced a significant 286bps MoM surge in average […]

Daily Market Update | 02-02-2024

Daily Market Update (Equities) Today, the Nigerian Equities market closed positive as the benchmark index increased by 1.57% to 104,421.23 points. Consequently, the market’s year-to-date returns (YTD) increased to 39.65% (vs yesterday 37.48%).  Market movers today were MTNN, FBNH, ACCESSCORP and DANGSUGAR while the draggers were NEM, UNITED CAPITAL, Nigerian Aviation Handling Co and STANBIC […]

Monthly Equities Market Update | January 2024

Global Market Overview: Mixed Optimism with UK and China Downturns  The global equities market continued its bullish streak in January 2024, marking its third consecutive month of positive performance. The MSCI World Index led the charge, surging 1.14% month-on-month (MoM), with other major indices following suit. However, the UK’s FTSE 100 and China’s SHCOMP bucked the […]