Weekly Commentary and Stock Recommendation: 29th April – 3rd May 2024
Global Economy Earlier this week, the Federal Reserve left its key monetary policy rate unchanged, a position held since July 2023, at a ten year plus high of 5.25%-5.50%. This was underpinned by sticky prices, as inflation remained higher than the Fed’s 2% inflation target in March 2024, at 3.5% YoY. Elsewhere, in the EU, […]
Q1:2024 Earnings Update | ACCESSCORP | Core Banking Income Sets the Stage
In its Q1:2024 financial statements, Access Holdings Plc posted a 129.20% and 148.03% YoY growth in Gross earnings and Profit before Tax to NGN974.24bn and NGN202.74bn respectively. The performance was mainly driven by impressive returns on interest income. Interest Income climbed 183.07% YoY to NGN719.60bn while non-Interest revenue grew 39.86% YoY to NGN254.64bn. On the […]
Daily Market Update 02-05-2024
Daily Market Update (Equities) The Nigerian equities market noted a positive performance today as the All-Share Index (ASI) increased by 0.55% to close at 98,762.78 points. Consequently, the year-to-date (YTD) return went up to 32.08%, from 31.36% on Tuesday. Today, the Total volume traded increased by 20.46% to settle at 665.20 meanwhile, the total value […]
