Daily Market Update | 20-09-2023
Daily Market Update (Equities) The Nigerian Equities Market closed the day negative as its benchmark index fell by 0.03% to settle at 68,335.72 points in today’s trading session. Consequently, the Year-to-Date (YtD) returns dipped to 33.34% (Yesterday: 33.38% YtD). The losses in Transcorp, IKEJAHOTEL, and Secure Electronics offset the gains in Sunu Assurance, Berger Paints […]
Daily Market Update | 19-09-2023
Daily Market Update (Equities) The Nigerian Equities Market ended the day on a positive note as its benchmark index rose by 0.71% to settle at 68,359.22 points. Consequently, the Year-to-Date (YtD) returns rose to 33.38%(Yesterday: 32.44% YtD). The gains in Ellah Lakes PLC, Berger Paints, E-Tranzact, Chams, and Oando offset the losses in Secure, SCOA, […]
Daily Market Update | 18-09-2023
Daily Market Update (Equities) The Nigerian Equities Market kicked off the week on a positive note as its benchmark index rose by 0.71% to close at 67,877.17 points. Consequently, the Year-to-Date (YtD) returns increased to 32.44%, (Friday: 31.50% YtD). The gains in Northan Nigeria Flour Mills, Chams, Stanbic IBTC, LASACO, and Transcorp offset the losses […]
Weekly Commentary and Stock Recommendation: 11th September – 15th September 2023
Global Economy According to its September Global Economic Outlook report, Fitch Ratings has revised up its forecast for world growth in 2023 by 0.1% to 2.5%, reflecting surprising resilience so far this year in the US, Japan, and emerging markets (EM) excluding China. Fitch has raised US growth by 0.8% to 2.0%, Japan by 0.7% […]
August 2023 CPI Report | Elevated Price Level – The New Normal?
Elevated Price Level – The New Normal? Earlier today, the National Bureau of Statistics (NBS) released its inflation report for August 2023. Headline inflation continued to surpass its 18-year high as it climbed higher by 172bps Year-on-Year (YoY) to 25.80% from 24.08% in July 2023. Similarly, Food inflation surged by 235bps YoY to 29.34% (vs. […]
Daily Market Update | 14-09-2023
Daily Market Update (Equities) The Nigerian Equities Market closed the day negative as its benchmark index fell by 0.06% to settle at 67,335.3 points in today’s trading session. Consequently, the Year-to-Date (YtD) returns rose to 31.41% (Yesterday: 31.47% YtD). The losses in GTCO, ZENITH, NESTLE, TRANSCORP, and FBNH offset the gains in UBA, STANBIC, LAFARGE, […]
H1:2023 United Bank for Africa Plc Earnings Result | Marked by Increased Fair Value Gain on Derivatives
UBA’s H1:2023 financial results mirrored the earnings growth across its Tier-1 peers on the back of the FX liberalization policy implemented during the period. Gross earnings increased by 163.66% YoY to NGN981.78bn, largely supported by higher non-interest income (+381.30% YoY to NGN553.48bn). Interest Income remained elevated, growing by 66.57% YoY to NGN428.29bn. On the […]
Daily Market Update | 13-09-2023
Daily Market Update (Equities) The Nigerian Equities Market closed the day positive as its benchmark index rose by 0.93% to settle at 67,378.88 points in today’s trading session. Consequently, the Year-to-Date (YtD) returns rose to 31.47% (Yesterday: 30.26% YtD). The gains in DANGSUGAR, GTCO, ACCESSCORP, UBA, and TRANSCORP offset the losses in STANBIC, LAFARGE, NPFMCRFB, […]
Daily Market Update | 11-09-2023
Daily Market Update (Equities) The Nigerian Equities Market closed the day negative as its benchmark index fell by 1.24% to settle at 67,296.18 points in today’s trading session. Consequently, the Year-to-Date (YtD) returns fell to 31.31% (Yesterday: 32.96% YtD). The losses in GTCO, DANGSUGAR, ZENITH, ACCESSCORP, and UBA offset the gains in OANDO, NB, TRANSCORP, […]
Daily Market Update | 12-09-2023
Daily Market Update (Equities) The Nigerian Equities Market closed the day negative as its benchmark index fell by 0.80% to settle at 66,760.20 points in today’s trading session. Consequently, the Year-to-Date (YtD) returns fell to 30.26% (Yesterday: 31.31% YtD). The losses in MTNN, DANGSUGAR, ZENITH, ACCESSCORP, and NESTLE offset the gains in OKOMU, OANDO, WEMA, […]
