Daily Market Update | 20-05-2024
Daily Market Update (Equities) The Nigerian Equities market started the week on a positive note, as the NGX All Share Index (NGX ASI) gained 0.05% to settle at 98,177.88 points. As a result, the market’s year-to-date (YtD) returns rose to 31.30% from 31.27% on Friday. ACCESSCORP traded the highest in terms of both Value and […]
Weekly Commentary and Stock Recommendation: 13th May – 17th May 2024
Global Economy Earlier this week, in the EU, Eurostat released preliminary GDP data for Q1:2024. In the first quarter of 2024, seasonally adjusted GDP increased by 0.3% QoQ in both the euro area and the EU, compared with the previous quarter. In Q4:2023, GDP had declined by 0.1% QoQ in the euro area and was […]
Daily Market Update | 16-05-2024
Daily Market Update (Equities) Today, the Nigerian Equities market closed positive, as the All-Share Index (ASI) surged by 0.13% to close at 98,156.71 points. As a result, the market’s year-to-date (YtD) returns rose to 31.27% from 30.18% YtD yesterday. However, market activity was positive today, with the total volume and value traded rising significantly by […]
April 2024 CPI Report – A Tale of Two Sides
A Tale of Two Sides Yesterday, the National Bureau of Statistics (NBS) released the Consumer Price Index (CPI) for April 2024. Inflationary pressures persisted as headline inflation climbed 49bps to 33.69% YoY compared to 33.20% YoY in March 2024. This uptick was driven by both food inflation (+52bps to 40.53% YoY) and core inflation (+94bps […]
Daily Market Update | 15-05-2024
Daily Market Update (Equities) Today, the Nigerian Equities market sustained its bearish run, as the All-Share Index (ASI) dipped by 0.13% to close at 97,343.42 points. As a result, the market’s year-to-date (YtD) returns fell to 30.18% from 30.36% YtD yesterday. However, market activity was positive today, with the total volume and value traded rising […]
MTNN Plc Q1:2024 Earnings Note – Foreign Exchange (FX) Losses Plague Bottom-line
Below is a detailed overview of the financial performance of MTN Nigeria Communications Plc during the first quarter of 2024. Limited Pass-through for Stronger Revenues In its recently released Q1:2024 financial result, MTN Nigeria Communications Plc (MTNN) recorded higher revenue figures on a Year- on-Year (YoY) basis, recording a 32.54% YoY growth to NGN752.98bn in […]
Daily Market Update | 13-05-2024
Daily Market Update (Equities) Today, the Nigerian stock market ended on a down note, witnessing a 0.23% drop in the All-Share Index (ASI) to close at 97,473.98 points. This resulted in a decrease in the market’s year-to-date (YtD) returns to 30.36%. Market activity saw a negative trend, with total volume traded falling by 29.50% to […]
Weekly Commentary and Stock Recommendation: 6th May – 10th May 2024
Global Economy Earlier this week, we observed China’s Caixin/S&P Global services purchasing managers’ index (PMI) eased to 52.5 points in April 2024 from 52.7 points in March 2024, remaining in expansionary territory for the 16th straight month. The 50-mark separates expansion from contraction. Domestic Economy Earlier this week, the Central Bank of Nigeria (CBN) issued […]
Daily Market Update | 10-05-2024
Daily Market Update (Equities) The Nigerian Equities market ended the week on a negative note. The All-Share Index (ASI) shed 0.02% to settle at 98,234.24 points. Consequently, the market year-to-date (YtD) returns fell to 31.38% compared to 31.40% YtD yesterday. The was driven by losses in TRANSCORP, PZ, and FLOURMILLS offsetting the gains in GTCO, […]
Q12024 Seplat Unaudited Financial Result | Elevated Tax Expense Drives Net Loss
In Q1:2024, Seplat Energy’s revenue grew by a remarkable 76.73% year-on-year (YoY) to reach NGN268.62bn. This exceptional performance was fueled by substantial growth in both crude oil (up 64.72% YoY) and gas (up 184.84 % YoY) revenue streams. Average production slowed down by 4.8% YoY to 49,258 barrels of oil and equivalent per day (boepd) […]
