MTNN Plc 2023FY Earnings Note – Foreign Exchange Losses Bite Deep
Below is a detailed overview of the financial performance of MTN Nigeria Communications Plc during the 2023 full year. Strong Revenue Growth Offset by Higher Costs In its recently released 2023 full year (FY) financial result, MTN Nigeria Communications Plc (MTNN) observed higher revenue figures on a Year- on-Year (YoY) basis, recording a 22.69% YoY […]
Q4 2023 and 2023FY Foreign Trade in Goods Statistics Report -Breaking the Surplus Streak
Breaking the Surplus Streak Recently, the National Bureau of Statistics (NBS) published the Foreign Trade in Goods statistics report for Q4:2023. On a Quarter-on-Quarter (QoQ) basis, Total Imports (+56.04% to NGN14.11trn in Q4:2023 vs. NGN9.04trn in Q3:2023) and Total Exports (+22.68% to NGN12.69trn in Q4:2023 vs. NGN10.35trn in Q3:2023) recorded significant increases. Consequently, we observed […]
Daily Market Update 11-03-2024
Daily Market Update (Equities) The Nigerian equities market started the week on a positive note, as the NGX All Share Index (ASI) increased by 0.70% to settle at 102,044.84 points. As a result, the year-to-date (YtD) return went up to 36.47% compared to last Friday’s 35.52% YtD . The positive market sentiment was driven by […]
Weekly Commentary and Stock Recommendation: 4th March – 8th March 2024
Global Economy Earlier this week, the US Bureau of Labor Statistics (BLS) released its Employment Situation data. According to the US BLS, total nonfarm payroll employment rose by 275,000 in February 2024, and the unemployment rate increased by 20bps to 3.9%. Job increases took place in the sectors of health care, government, food and beverage […]
Daily Market Update | 7-03-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed positive, as the NGX All Share Index (ASI) increased by 0.75% to 100.335.30 points. Consequently, the market’s year-to-date (YtD) returns printed at 34.19% (vs. Yesterday: 33.19% YtD). Gains in FBNH, Transnational Corp and Fidelity Bank offset the losses in Dangote Sugar, Zenith Bank and Ecobank. […]
Daily Market Update | 6-03-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed positive, as the NGX All Share Index (ASI) increased by 0.40% to 99,192.82 points. Consequently, the market’s year-to-date (YtD) returns printed at 33.19% (vs. Yesterday: 32.66% YtD). Gains in FBNH, Transnational Corp and Fidelity Bank offset the losses in Dangote Sugar, Zenith Bank and Ecobank. […]
2023FY Seplat audited Financial Result | Strong Revenue Performance Drives Bottom Line Growth
Seplat Energy’s revenue grew significantly by 72.53% year-on-year (YoY) to NGN696.87bn in 2023FY. This exceptional performance was fueled by a substantial increase in crude oil production (72.90% YoY), which offset the decline in crude oil prices (Average of 82.71 in 2023FY vs Average of USD100.93pb in 2022FY). The company also saw significant growth in gas […]
Daily Market Update | 05-03-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed on a positive note, as the NGX All Share Index (ASI) went up by 0.35% to settle at 99,192.82 points. As a result, the year-to-date (YtD) returns printed at 32.66% (vs. Yesterday’s 32.20% YtD returns). The positive market sentiment was driven by gains in FBNH, […]
Monthly Fixed Income Market Report | February 2024
Monthly Fixed Income Market Report In February, the Nigerian fixed income market experienced a significant increase in yields. The FGN bond market average yield surged by 273bps Month-on-Month (MoM) to close at 17.22%, while the average yields in the Nigerian Treasury Bills market jumped by a significant 775bps MoM to settle at 16.90%. Overall, the […]
Monthly Equities Market Update | February 2024
Global Market Overview: Global Equities Extend Winning Streak in February In February 2024, the global equities market maintained its upward trend, extending its positive performance for the fourth (4th) month in a row. Consequently, the MSCI world Index surged by 4.11% month-on-month (MoM). This positive momentum extended to most of the major global Indices under our […]
