Weekly commentary
Weekly Commentary Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap […]
Weekly Commentary and Stock Recommendation: 14th October – 18th October 2024
Stock Market Despite observing losses in two (2) trading days this week, investors closed the week in a happy mood as the market gained 0.47% Week-on-Week (WoW), representing a market capitalization gain of NGN3.34trn. Consequently, the market’s Year-to-Date (YtD) return climbed to 31.16% (vs.30.54% YtD last Friday). This positive sentiment was driven by gains in […]
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024
Stock Market Despite losing three (3) times, investors went home smiling as they gained NGN49.53bn, bringing the market to close positive at 0.09% week-on-week (WoW). This is following gains in SEPLAT, FIDELITY and FBNH, which offset losses in OANDO, UBA and STANBIC. Consequently, the Nigerian stock market has gained 30.54% from the beginning of the […]
Daily Market Update|10-10-2024
Daily Market Update (Equities) The Nigerian stock market continued its downward trend, declining for the third (3rd) consecutive trading day, albeit at a slower pace by 0.01%. Market capitalization decreased by NGN5.72bn, bringing the year-to-date return to 30.36%, down from 30.38% YtD yesterday. The bearish sentiment was driven by UBA, FIDELITYBK, NB, and STERLING, which […]
Daily Market Update|09-10-2024
Daily Market Update (Equities) The Nigerian stock market continued its downward trend today, losing another 0.10%. This marks the second consecutive trading day of losses, bringing the market’s year-to-date (YtD) return down to 30.38% (from 30.51% YtD yesterday). Market capitalization took a hit, shrinking by NGN56.12bn. This negative sentiment was on the back of losses […]
Daily Market Update|08-10-2024
Daily Market Update (Equities) Today, the Nigerian stock market closed on a positive note as it gained 0.19% while its year-to-date return settled at 30.67%. The Market performance was driven by gains in FIDELITYBK, UBA, and DANGSUGAR, offsetting losses in ACCESSCORP, WAPCO, and TRANSCORP. On a sectoral basis, the Banking (+0.81%), Consumer Goods (+0.40%), and […]
ACCESSCORP | Banking | H1:2024 Earnings Note | Higher Cost of Fund Limits Bottomline
In its recently released audited H1:2024 results, Access Holdings’Gross Earnings grew by 133.56% YoY1
to NGN2.20trn mainly due to the spike in interest income (+142.59% YoY to NGN1.47trn) and non-interest income (+116.11% YoY to NGN719.83bn), an offshoot of the fair value and foreign exchange gain. Elsewhere, Operating Expenses increased by 127.61% YoY to NGN719.10bn, following higher
UBA | Banking | H1:2024 Earnings Note | Loss on Derivatives Drags Performance
United Bank for Africa Plc recently released its audited H1:2024 financial result. Gross earnings grew by 39.65% YoY to NGN1.37trn following impressive interest income growth.
Weekly Commentary and Stock Recommendation: 30th September – 4th October 2024
Last week, the market lost NGN596.61bn due to selloffs in DANGCEM, BUACEMENT and FBNH, which caused the market to lose 0.95% Week-on-Week (WoW). However, we saw gains in sectors such as Oil and Gas, Insurance and Consumer Goods sectors, as investors bought into tickers such as SEPLAT, NEM and INTBREW respectively.
Daily Market Update|01-10-2024
Today, the Nigerian stock market closed on a positive note as it gained 0.10% while its year-to-date return settled at 31.81%. The market performance was driven by gains in OANDO, UBA and ACCESSCORP, which offset losses in BUACEMENT, FBNH and FIDELITYBANK.
