Weekly Commentary and Stock Recommendation: 30th October – 3rd November 2023
Global Economy Earlier this week, the US Federal Reserve (Fed) kept interest rates constant at 5.25%-5.50%. The Fed has struggled to determine whether rates may be tight enough to control inflation, or whether a resilient US economy may need still more restraint. Current inflation remains far above the Fed target rate of 2%, and annual […]
Monthly Fixed Income Market Report | October 2023
Monthly Fixed Income Market Report The FGN bond market concluded the month with a negative performance, with the average yield increasing by 88bps month-on-month (MoM) to settle at 15.33%. Similarly, the Nigerian Treasury Bills Market closed the month bearish, as average yield rose by 2.99% MoM to close at 10.93%. Overall, the secondary Fixed Income […]
Daily Market Update | 03-11-2023
Daily Market Update (Equities) The Nigerian Equities market ended today’s trading session on a positive note as its benchmark index added 0.22% to settle at 70,196.77 points. The market’s year-to-date (YtD) returns consequently increased to 36.97% from yesterday’s 36.67%. Gains in AIRTELAFRI, LAFARGE and INTBREW offset losses in BUACEM, MTNN and UBA. Today, FIDELITYBK traded […]
Daily Market Update | 02-11-2023
Daily Market Update (Equities) The Nigerian Equities market lost 0.76% as its benchmark index settled at 70,042.28 points. Consequently, the year-to-date returns printed at 36.67% (vs. Yesterday: 37.72% YtD). The gains in LAFARGE, FIBELITY and NEM were not able to counter the losses incurred on NTNN, BUACEM and FBNH. Today, JAPAULGOLD traded the highest in […]
Daily Market Update | 01-11-2023
Daily Market Update (Equities) The market started the month on the back of positive returns as its benchmark index went up by 1.94% to an all-time high of 70,581.76 points. Consequently, the year-to-date returns printed at 37.72% (vs. Yesterday: 35.09% YtD). Today, enormous gains in AIRTELAFRI, FBNH and ZENITHBANK helped to mitigate against losses incurred […]
Daily Market Update | 31-10-2023
Daily Market Update (Equities) The Nigerian Equities Market continued its positive trajectory this week as its benchmark index gained 1.65% to close at 69,236.19 points. This brought its year-to-date (YtD) returns to 35.09%, up from yesterday’s 32.90%. The positive returns in the market today was spurred by gains in AIRTERLAFRI, FBNH and BUACEM which offset […]
Daily Market Update | 30-10-2023
Daily Market Update (Equities) The Nigerian Equities market started the week on a positive note as the benchmark index rose by 1.45% to 68,111.71 points. As a result, its year-to-date (YtD) returns rose to 32.90% (vs. Friday’s YtD: 31.00%). The gains recorded in NNFM, CHAMS and UAC NG offset the losses incurred in Meyer, Abbey […]
Weekly Commentary and Stock Recommendation: 23rd October – 27th October 2023
Global Economy According to the US Bureau of Economic Analysis (BEA), US Real Gross Domestic Product (GDP) increased at an annual rate of 4.9% in Q3:2023 (vs. 2.1% in Q2:2023), according to its “advance” estimate. Compared to the second quarter, the acceleration in real GDP in Q3:2023 reflected increases in consumer spending, private inventory investment, […]
Daily Equities Market Update 25-10-2023
Daily Market Update (Equities) The Nigerian Equities market closed the week with a decline in performance as its benchmark index fell by 0.2% to 67,206.16 points. As a result, its year-to-date (YtD) returns decreased to 31.13% (vs. Yesterday’s YtD: 31.15%). The losses recorded in , ETRANZACT, DEAPCAP, and ETERNA offset the gains incurred in MULTIVERSE, […]
Daily Market Update 24-10-2023
Today, the Nigerian equities market closed on a positive note as the bench mark index increased 0.51% to close at 67,217.77 points. Consequently, its Year-to-Date return printed at 31.15% (Yesterday: 30.49%). The strong performance was primarily driven by buying interest in Flour Mills, Chams, and Geregu offsetting the losses in ABC Tran, FTN Cocoa, and […]
