Daily Market Update | 17-08-2023
The Nigerian Equities Market closed positive today as its benchmark index rose by 0.06% to 64,663.78 points. Consequently, its Year-to-Date return printed at 26.17% (Yesterday: 26.10%). The positive market performance was primarily driven by gains in FBNH, DANGSUGAR, FIDELITY, INTBRREW and STERLING offsetting the losses in MTNN, ZENITHBANK, ACCESSCORP and NASCON. Today, FIDELITYBK traded highest […]
July 2023 CPI Report | Removal of PMS Subsidy & FX Liberalization Bites Hard
Earlier this week, the National Bureau of Statistics (NBS) released the inflation report for July 2023. Headline inflation spiked by 1.29% Year-on-Year (YoY) to 24.08% (vs 22.79% in June 2023), marking the highest rate recorded in Nigeria since the reconstitution of the Consumer Price Index (CPI) in 2009. The surge in Headline inflation is on […]
Daily Market Update | 16-08-2023
The Nigerian Equities Market closed negative today as its benchmark index went down by 0.47% to 64,625.28 points. Consequently, its Year-to-Date return printed at 26.10% (Yesterday: 26.69%). The negative market performance was primarily driven by loss in AIRTELAF NL, FIDELIYT, GTCO and ACCESSCO NL offsetting the gain in BUAFOODS NL, DANSUGAR, ETERNA NL and FBNH. […]
Daily Market Update | 15-08-2023
Today, the Nigerian equities market closed on a negative note as the bench mark index declined 0.43% to close at 64,928.98 points. Consequently, its Year-to-Date return printed at 26.69% (Yesterday: 27.24%). The weak performance was primarily driven by selloffs in Dangote Sugar Refinery PLC, FBNH Holdings PLC, Access Holdings PLC and United Bank for Africa […]
Daily Market Update | 14-08-2023
The Nigerian Equities Market started the week on a negative note as its benchmark index declined by 0.18% to 65,210.49 points. Consequently, its Year-to-Date (YtD) return printed at 27.24% (Last Friday: 27.46% YtD). The negative market performance was primarily driven by losses in BUACEMENT, ZENITHBANK, and FBNH offsetting the gains in DANGSUGAR and ETI. Today, […]
H1:2023 LAFARGE Africa Plc. Earnings Note | Performance Marked by Tepid Revenue Growth
This report provides a detailed overview of Lafarge Africa Plc. performance during the first half of 2023 (H1:2023). H1:2023 financial statement for Lafarge Africa Plc. revealed a 5.95% YoY growth in revenue to NGN197.68bn. On the other hand, production cost of sales (adjusted for depreciation) rose marginally by 2.94% YoY to NGN81.02bn while total operating […]
Weekly Commentary and Stock Recommendation: 7th August – 11th August 2023
This is a brief summary of the economic events that occurred this week in the global and domestic space. This report also provides investment strategies for investors in the coming week. Global Economy Earlier this week, The US Bureau of Labor Statistics released its July 2023 Consumer Price Index (CPI) report. According to the report, […]
Daily Market Update | 11-08-2023
The Nigerian Equities Market closed in the positive territory this week as its benchmark index rose by 0.18% to 65,325.37 points. Consequently, its Year-to-Date return printed at 27.46% (Yesterday: 27.23%). The strong market performance was primarily driven by gains in MTN Nigeria Plc and Transnational Corp of Nigeria, offsetting the losses in UBA and International […]
Daily Market Update | 10-08-2023
The Nigerian Equities Market closed positive today as its benchmark index soared by 1.62% to 65,204.82 points. Consequently, its Year-to-Date return printed at 27.23% (Yesterday: 25.20%). The positive market performance was primarily driven by gains in Dangote Cement Plc, FBN Holdings, and MTN Nigeria Plc offsetting the losses in Dangote Sugar Refinery and Unilever Nigeria […]
H1:2023 BUACEMENT Earnings Note | Spiraling Finance Costs Limits Bottom-Line Growth
This report provides a detailed overview of BUA Cement’s performance during the first half of 2023 (H1:2023). BUA Cement Plc. recently released its H1:2023 financial results, depicting a 17.24% YoY growth in revenue to NGN221.07bn. On the other hand, production cost of sales (adjusted for depreciation) rose by 17.42% YoY to NGN105.36bn while total operating […]
