Weekly Commentary and Stock Recommendation: 19th February – 23rd February 2024
Global Economy In February 2024, the headline S&P Global Flash US PMI Composite Output Index fell to 51.4 from 52.0 in January 2023, while staying in the expansion region. Nonetheless, the pace of expansion was the second-fastest since July 2023 as manufacturers and service providers recorded growth in output. US companies continued to report an […]
Daily Market Update | 23-02-2024
Daily Market Update (Equities) Today, the Nigerian equities market bounced back from its previous day loss, climbing 0.84% to 102,088.10 points. Consequently, the market’s year-to-date (YtD) returns printed at 36.53% (vs. Yesterday: 35.39% YtD). Gains in BUAFOODS, FBNH, and Transnational Corp outweighed losses in ZENITH, GTCO, and NB, contributing to the positive performance. Market sentiment […]
Daily Market Update | 22-02-2024
Daily Market Update (Equities) Today, the Nigerian equities market reverted to negative territory, declining by 0.12% to 101,239.10 points. This pushed market’s year-to-date (YtD) returns down to 35.39% (vs. Yesterday: 35.56% YtD). Losses in Stanbic IBTC, ACCESSCCORP, and Transnational Corp outweighed gains in GTCO, FBNH, and FIDELITYBANK, contributing to the negative performance. Market sentiment was […]
Daily Market Update | 21-02-2024
Daily Market Update (Equities) The Nigerian equities market rebounded from its two consecutive losses this week, as it posted a 0.30% gain in today’s trading session to 101,362.38 points. This brough the market’s year-to-date (YtD) returns up to 35.56% (vs. Yesterday: 35.16% YtD). Gains in te market were spurred by the impressive performance of BUACEM, […]
Daily Market Update | 20-02-2024
Daily Market Update (Equities) The Nigerian equities market extended its loss for the second consecutive trading session this week, as the market’s benchmark index dropped 1.30% to settle at 101,060.67 points. The market was dragged down down by significant losses in tickers including BUACEM, FBNH, TRANSCORP, DANGSUGAR and UBA, which suppressed gains recorded in GEREGU, […]
Q4 2023 Capital Importation Report- Turning the Tide Nigeria Sees Capital Inflows Rebound
Turning the Tide Nigeria Sees Capital Inflows Rebound Recently released by the National Bureau of Statistics (NBS), the Q4:2023 capital importation report reveals a 2.62% year-on-year (YoY) increase, reaching USD1.09bn compared to the USD1.06bn recorded in Q4:2022. This growth stems from a significant rise in two major components: Foreign Direct Investment (+ 118.42% YoY to […]
Nigerian Oil and Gas Sector Report 2024 | Unraveling Nigeria’s Oil and Gas Tapestry
This report delves into the complexities of the oil and gas sector, specifically focusing on OPEC’s impact on global energy dynamics and Nigeria’s potential as Africa’s leading oil producer. We delve deeper by analyzing major players within the Nigerian market, providing both price targets and insightful recommendations to guide investors towards informed decisions. Executive Summary […]
Daily Market Update | 19-02-2024
Daily Market Update (Equities) The Nigerian equities market started the week on a negative note, as the NGX All Share Index (ASI) closed down by 3.15% to settle at 102,393.23 points. As a result, the year-to-date (YtD) returns printed at 36.94% compared to Friday’s 41.39% YtD returns. The negative market sentiment witnessed was propelled by […]
Weekly Commentary and Stock Recommendation: 9th February – 16th February 2024
Global Economy In January 2024, headline inflation in the US saw a slight uptick, rising by 0.3% month-on-month (MoM), compared to December’s 0.2% MoM increase, as reported by the Bureau of Labor Statistics (BLS). However, year-on-year (YoY) inflation experienced a slight decrease, settling at 3.1%, down from December’s 3.4% YoY. The increase in inflation was primarily propelled […]
January 2024 CPI Report | Uptrend Continues
Uptrend Continues Yesterday, according to the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), the Headline inflation for January 2024 increased by 98bps, reaching 29.90% Year-on-Year (YoY) compared to the 28.92% YoY recorded in December 2023. The sustained elevation in headline inflation is attributed to increases in the two major […]
