Daily Market Update | 9-08-2023
The Nigerian Equities Market closed in the negative territory today as its benchmark index fell by 1.75% to 64,176.39 points. Consequently, its Year-to-Date return printed at 25.20% (Yesterday: 27.43%). The weak market performance was primarily driven by losses in Dangote Cement Plc, MTN Nigeria Plc and FBN Holdings, offsetting the gains in GEREGU and Ecobank. […]
H1:2023 DANGCEM Earnings Note | FX Devaluation Erodes Bottom-Line Performance
Below is a detailed overview of Dangote Cement’s performance during the first half of 2023 (H1:2023). Higher Revenue Riding on Pricing Strategy Dangote Cement Plc. recently released its H1:2023 financial results, depicting a 17.67% Year-on-Year (YoY) growth in revenue to NGN950.83bn. This is amid a decline (-5.53% YoY to 13.4Mt) in sales volume during the […]
Airtel Africa Plc Q1:2024 Performance – The Constraints of Unrealized FX Losses
Below is a detailed overview of Airtel Africa Plc’s performance during the first quarter of its fiscal year. Revenue Growth Offset by FX Losses In its recently released Q1:2024 financial result, Airtel Africa Plc (AIRTELAFRI) posted growth in its consolidated topline in reporting currency. During the period, markets in Nigeria and East Africa noted significant […]
Daily Market Update | 8-08-2023
The Nigerian Equities Market closed in the negative territory today as its benchmark index fell by 0.04% to 65,309.65 points. Consequently, its Year-to-Date return printed at 27.43% (Yesterday: 27.48%). The weak performance was primarily driven by selloffs in Geregu, Dangote Sugar Refinery Plc and Ecobank offsetting the gains in Zenith bank Plc, Guaranty Trust Holdings, […]
Daily Market Update | 7-08-2023
The Nigerian Equities Market experienced a positive run today as its benchmark index rose by 0.21% to 65,336.80 points. Consequently, its Year-to-Date return printed at 27.48% (Last Friday: 27.21%). Today, MTNN traded the highest in terms of Volume while FCMB traded the highest in terms of Value. Total Volume and Value traded for today settle at […]
MTNN Plc H1:2023 Earnings Note – FX Devaluation limits Bottomline Growth
Below is a detailed overview of the financial performance of MTN Nigeria Communications Plc during the first half of 2023. Data Revenue Propels Revenue Expansion In its recently released H1:2023 financial result, MTN Nigeria Communications Plc (MTNN) posted a higher revenue figure, exceeding its growth level from the previous period. Total revenue grew by 21.96% […]
Weekly Commentary and Stock Recommendation: 31st July – 4th 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 Jobs report for July 2023, noting that the US added fewer […]
Daily Market Update | 04-08-2023
Daily Market Update (Equities) The Nigerian Equities market closed the week negative as its benchmark index fell by 0.10% to 65,198.08 points. Consequently, its Year-to-Date return printed at 27.21% (Yesterday: 27.34%). Gains in Dangote Sugar, Zenith and Nigerian Breweries were significantly countered by losses in MTNN, Access and FCMB. Today, FBNH traded the highest in […]
Monthly Equities Market Report – July 2023
In this report, we provide a detailed overview of the performance of the global and domestic equities market in July 2023. We also provide an outlook and sector recommendations for the coming months. Global Equities Market The global equities market ended July 2023 on a positive note, following a slowdown in inflationary pressures. This necessitated […]
Monthly Fixed Income Market Report – July 2023 | Hawkish Train Kindles Selloffs in the Fixed Income Market
In this report, we analyze the performance of the Nigerian fixed income market in July 2023, and provide strategies that investors can employ to navigate the fixed income market in the coming months. The FGN bond market closed the month on a negative note as average yield edged up 0.12% Month-on-Month (MoM) to 13.10%. Similarly, […]
