Weekly Commentary and Stock Recommendation: 6th May – 10th May 2024
Global Economy Earlier this week, we observed China’s Caixin/S&P Global services purchasing managers’ index (PMI) eased to 52.5 points in April 2024 from 52.7 points in March 2024, remaining in expansionary territory for the 16th straight month. The 50-mark separates expansion from contraction. Domestic Economy Earlier this week, the Central Bank of Nigeria (CBN) issued […]
Daily Market Update | 10-05-2024
Daily Market Update (Equities) The Nigerian Equities market ended the week on a negative note. The All-Share Index (ASI) shed 0.02% to settle at 98,234.24 points. Consequently, the market year-to-date (YtD) returns fell to 31.38% compared to 31.40% YtD yesterday. The was driven by losses in TRANSCORP, PZ, and FLOURMILLS offsetting the gains in GTCO, […]
Q12024 Seplat Unaudited Financial Result | Elevated Tax Expense Drives Net Loss
In Q1:2024, Seplat Energy’s revenue grew by a remarkable 76.73% year-on-year (YoY) to reach NGN268.62bn. This exceptional performance was fueled by substantial growth in both crude oil (up 64.72% YoY) and gas (up 184.84 % YoY) revenue streams. Average production slowed down by 4.8% YoY to 49,258 barrels of oil and equivalent per day (boepd) […]
