2023FY Banking Stock Note | ZENITH | UBA | GTCo | ACCESSCORP
Zenith, UBA, Access and GTCo recently released their audited 2023 financial statements and was characterized by a common theme – “Supernormal profit” Zenith Bank released the audited Full-year results for 2023, revealing a robust topline performance. Gross Earnings, which exceeded our 2023FY estimates, grew by 125.45% YoY to NGN2.13trn on the wheels of increased interest […]
DAILY MARKET UPDATE 29-04-2024
Daily Market Update (Equities) The Nigerian equities market noted a decline today as the All-Share Index (ASI) fell by 0.30% to close at 97,879.94 points. Consequently, the year-to-date (YTD) return to declined to 30.90%, from 31.30% last Friday. Gains in FBNH, ACCESSCORP and STERLING were offset by losses in GTCO, DANGSUGAR and SEPLAT. Today, the […]
Weekly Commentary and Stock Recommendation: 22nd April – 26th April 2024
Global Economy Earlier this week, S&P Global released flash Purchasing Manager Index (PMI) reports for both the UK and US. The headline S&P Global Flash US PMI Composite Output Index dropped to 50.9 points in April 2024 from 52.1 points in March 2024. The S&P Global Flash US Manufacturing PMI, which considers a wide range […]
Daily Market Update | 26-04-2024
Daily Market Update (Equities) The Nigerian equities market edged slightly higher today. The All-Share Index (ASI) rose a modest 0.01% to close at 98,176.76 points. This minor gain pushed the year-to-date (YTD) return to 31.30%, up from 31.29% yesterday. Driving the modest gain were stocks like FBNH, STANBIC, and ACCESSCORP, which counterbalanced losses in ZENITH, […]
Daily Market Update | 25-04-2024
Daily Market Update (Equities) The Nigerian Equities market rebounded from it two (2) days loss. The All-Share Index (ASI) rose marginally by 0.05% to 98,169.30 points. Consequently, the market year-to-date (YtD) returns rose to 31.29% compared to 31.24% YtD yesterday. The rebound was driven by gains in TRANSCOH, MTNN, and TRANSCOR offsetting the loss in […]
Daily Market Update | 24-04-2024
Daily Market Update (Equities) Today, the Nigerian Equities market closed on a negative note, as the All-Share Index (ASI) declined by 1.18% to 98,121.30 points. Therefore, the market year-to-date (YtD) returns fell to 31.24% from yesterday’s 32.82% YtD. This declined was driven by losses in MTNN, Transcorp Hotel and FBNH offsetting the gains in Zenith, […]
Daily Market Update | 23-04-2024
Daily Market Update (Equities) Today, the Nigerian Equities market reverted from its upward trajectory, with the All-Share Index (ASI) declining by 0.40% to 99,311.54 points. Therefore, the market year-to-date (YtD) returns fell to 32.82% from yesterday’s 33.34% YtD. This declined was driven by losses in FBN, NESTLE and ZENITH offsetting the gains in WAPCO, TRANSCOR […]
Daily Market Update | 22-04-2024
Daily Market Update (Equities) The Nigerian equities market started the week on a positive note as the NGX All-Share Index (NGX ASI) rose by 0.17% to settle at 99,706.40 points. Consequently, the year-to-date (YtD) returns went up to 33.34% (vs. Yesterday: 33.12% YtD). The gains in GTCO, ZENITH and TRANSCOR offsetting losses in STANBIC, FIDELITY […]
Weekly Commentary and Stock Recommendation: 15th April – 19th April 2024
Global Economy Earlier this week, we saw data from the US Census Bureau on retail sales for March 2024. Retail sales rose 0.7% MoM in March 2024, according to the department. Data for February 2024 was revised higher to show sales rebounding 0.9% MoM, which was the largest gain in just over a year, instead […]
Daily Market Update | 19-04-2024
Daily Market Update (Equities) The Nigerian Equities maekt ended the week on a negative note, as the NGX All-Share Index (NGX ASI) fell by 0.31% in today’s trading session. This pushed the market’s year-to-date (YtD) lower to 33.12% from yesterday’s 33.53% YtD. Losses in FBNH, STANBIC and GTCO offset gains recorded in FIDELITYBANK, OANDO and […]
