Monthly Fixed Income Market Report | August 2024
Breaking the Mold Contrary to our bearish expectations, Nigeria’s fixed income market exhibited remarkable strength in August 2024. Despite concerns about rising yields due to economic pressures, both the Nigerian Treasury bills (NT-bills) and FGN bonds segments witnessed robust demand. The NT-bills market saw a significant decline in average yields, decreasing by 397bps month-on-month (MoM) […]
Zenith Bank Plc H1:2024 Earnings Note | Impressive Performance Riding on Core & Non-Core Income
Impressive Performance Riding on Core & Non-Core Income Zenith Bank Plc published its H1:2024 interim financial results, recording a 120.03% YoY expansion in Gross Earnings to NGN2.05trn. This is on the back of increase in both interest income (+176.69% YoY to NGN1.15trn) and non-interest income (+72.50% YoY to NGN951.94bn) in the period. Meanwhile, Operating Expenses […]
Weekly Commentary and Stock Recommendation: 26th August – 30th August 2024
Global Economy Earlier this week, the US Bureau of Economic Analysis (BEA) issued a revised GDP estimate for Q2:2024. According to the BEA, real GDP increased at an annual rate of 3.0% in Q2:2024, according to the second estimate (compared to 1.40% YoY in Q1:2024). Compared to the first quarter, the growth in real GDP […]
Daily Market Update | 27-08-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed positive with the NGX All-Share Index (ASI) surging by 0.49% to settle at 96,510.13 points. Also, the market’s year-to-date (YtD) returns increased to 29.07% compared to 28.44% on Monday. Today, the total volume traded increased by 17.49% to 443.16mn units and value traded increased by […]
Daily Market Update|26-08-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed positive with the NGX All-Share Index (ASI) surging by 0.07% to settle at 96,037.28 points. Also, the market’s year-to-date (YtD) returns increased to 28.44% compared to 28.35% last week Friday. Today, the total volume traded increased by 16.67% to 377.18mn units and value traded decreased […]
Weekly Commentary and Stock Recommendation: 19th August – 23rd August 2024
Global Economy Earlier this week, S&P Global released a series of Purchasing Managers’ Index (PMI) reports for the US, UK and Eurozone. The headline S&P Global Flash US PMI Composite Output Index edged down from 54.3 points in July 2024 to a four-month low of 54.1 points in August 2024. Output has now risen continually […]
Daily Market Update|22-08-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed negative with the NGX All-Share Index (ASI) declining by 0.12% to settle at 95,718.05points. Consequently, the market’s year-to-date (YtD) returns decreased to 28.01% compared to 28.16% Yesterday. Today, the total volume traded increased by 9.17% to 393.62mn units and value traded decreased by 19.28% to […]
Daily Market Update | 21-08-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed negative with the NGX All-Share Index (ASI) declining by 0.07% to settle at 99,831.51points. Consequently, the market’s year-to-date (YtD) returns decreased to 28.16% compared to 28.25% Yesterday. Today, market activity made a negative performance, as total volume decreased by 64.44% to 360.56mn units and value […]
Daily Market Update | 20-08-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed positive with the NGX All-Share Index (ASI) surging by 0.25% to settle at 99,895.92points. Consequently, the market’s year-to-date (YtD) returns increased to 28.25% compared to 28.09% Yesterday. Today, market activity made a positive performance, as total volume increased by 71.41% to 1.13bn units and value […]
Daily Market Update | 19-08-2024
Daily Market Update (Equities) Following a further negative run in the Nigerian equities market, the NGX All-Share Index (ASI) fell by 1.36% to settle at 95,779.79 points. Consequently, the market’s year-to-date (YtD) returns decreased to 28.09% compared to 29.86% on Friday. Today, market activity made a positive performance, as total volume and value traded increased […]
