Q3 2023Foreign Trade in Goods Statistics | Four Consecutive Quarters of Trade Surplus
Four Consecutive Quarters of Trade Surplus In the recently released Q3:2023 Foreign Trade in Goods statistics report by the National Bureau of Statistics (NBS), Total Trade in the quarter jumped by 54.62% Quarter-on-Quarter (QoQ) to NGN18.80trn from NGN12.16trn in Q2:2023. This surge is associated with similar growth in Total Imports (+47.70% QoQ to NGN8.46trn in […]
Daily Market Update | 04-12-2023
Daily Market Update (Equities) The Nigerian Equities market started the week on a negative note, as its benchmark index, the NGX All Share Index (ASI) went down by 0.66% to 70,946.83 points. Consequently, its Year-to-Date (YtD) returns declined to 38.43% from 39.35% last Friday. This decline can be attributed to losses in BUACEMENT, ZENITH and […]
Monthly Equities Market Report | November 2023
Global Market Overview Easing Inflation and Hawkish Pause Fuels Optimism across Markets In a welcome turnaround, the global equities market finally caught a break in November 2023, snapping a three-month streak of losses. The MSCI World Index led the charge, climbing 0.85% month-on-month (MoM). This upswing extended to all indices under our watch, painting a […]
Monthly Fixed Income Market Report | November 2023
Monthly Fixed Income Market Report The FGN bond market ended the month on a bearish note with the average yield increasing by 40bps Month-on-Month (MoM) to close at 15.72%. Conversely, the Nigerian Treasury Bills Market concluded the month on a bullish note as the average yield declined by 72bps MoM to settle at 10.21%. Overall, […]
Weekly Commentary and Stock Recommendation: 27th November – 1st December 2023
Global Economy Earlier this week, according to the US Bureau of Economic Analysis, the US Real Gross Domestic Product increased at a rate of 5.2% YoY in Q3:2023, according to its revised estimates. The increase in real GDP reflected increases in consumer spending, private inventory investment, exports, government spending, residential fixed investment, and nonresidential fixed […]
Daily Market Update 29-11-2023
Daily Equities Market Update (Equities) Today, Nigerian Equities market closed with positive sentiment as its benchmark index rose by 0.34% to 71,041.29 points. As a result, its year-to-date (YtD) returns went up to 39.09 (vs. yesterday’s YtD: 38.61%). The losses recorded in , MAYER, NESTLE and NSLTECH offset the gains incurred in GUINEAINS, OMATEK and […]
Daily Market Update 28-11-2023
Daily Equities Market Update (Equities) Today, Nigerian Equities market closed with a negative performance as its benchmark index fell by 0.44% to 71,049.29 points. As a result, its year-to-date (YtD) returns declined to 38.61% (vs. yesterday’s YtD: 39.22%). The losses recorded in , OMATEK, IKEJAHOTEL, and NEIMETH offset the gains incurred in NSLTECH, ROYALEX and […]
Daily Market Update 27-11-2023
Daily Equities Market Update (Equities) Today, Nigerian Equities market closed with a positive performance as its benchmark index went up by 0.18% to 71,353.81 points. As a result, its year-to-date (YtD) returns increased to 39.22% (vs. last Friday’s YtD: 38.98%). The gains recorded in , FBNH, MULTIVERSE, and NSLTECH offset the losses incurred in , […]
Q3:2023 GDP Report | A Show of Resilience amid Economic Challenges
A Show of Resilience amid Economic Challenges In the recently published Q3:2023 GDP report by the NBS, the Nigerian economy grew modestly by 2.54% YoY compared to 2.51% YoY in Q2:2023. This marks the twelfth (12th) consecutive quarter of expansion since H2:2020, underscoring the doggedness of the Nigeria economy despite macroeconomic and structural challenges including […]
Weekly Commentary and Stock Recommendation: 20th November – 24th November 2023
Global Economy Earlier this week, according to S&P Global, the US private sector’s economic activity grew at a moderate rate in November 2023, with the S&P Global Composite PMI remaining stable at 50.7 (vs. 50.7 in October 2023). While the Services PMI slightly increased to 50.8 from 50.6 during the same period, the Manufacturing PMI […]
