Daily Market Update | 9-05-2024
Daily Market Update (Equities) Today, the Nigerian Equities market closed positive, reversing its earlier streak. The All-Share Index (ASI) gained 0.03% to settle at 98,255.72 points. Consequently, the market year-to-date (YtD) returns rose to 31.40% compared to 31.36% YtD yesterday. The was driven by gains in GTCO, TRANSCORP, and ZENITH offsetting the losses in DANGSUGAR, […]
Daily Market Update | 8-05-2024
Daily Market Update (Equities) Today, the Nigerian Equities market closed flat, ending its negative streak. The All-Share Index (ASI) was largely unchanged at 98,223.97 points. Consequently, the market year-to-date (YtD) returns declined marginally to 31.36% compared to 31.37% YtD yesterday. The was driven by losses in LAFARGE, ZENITH, and GTCO offsetting the gains in MTNN, […]
Daily Market Update | 7-05-2024
Daily Market Update (Equities) Today, the Nigerian Equities market posted its second consecutive day of losses during the week. The All-Share Index (ASI) fell by 0.48% to 98,228.50 points. Consequently, the market year-to-date (YtD) returns declined to 31.37% compared to 32.00% YtD yesterday. The was driven by losses in FBNH, GTCO, and DANGSUGAR offsetting the […]
Monthly Fixed Income Market Update | April 2024-Bearish Streak Sustained
Higher Yields Propelled by Interest Rates The Nigerian secondary Fixed Income (FI) market continued its bearish trend in April 2024. The Nigerian Treasury bills (NT-bills) market witnessed a significant negative performance, as the average yield surged by 454bps Month-on-Month (MoM) to close at 22.20%, reflecting the high interest rate environment. In contrast, the FGN Bond […]
Q1:2024 Earnings Update | ZENITH | Interest & Non-Interest Income Improved Profitability
Interest & Non-Interest Income Improved Profitability Gross earnings for Q1:2024 increased by 189.12% YoY to NGN780.62bn on the back of increased interest and non-interest income. Interest Income grew by 154.94% YoY to NGN488.55bn while Non-Interest Income climbed 272.72% YoY to NGN292.07bn. On the other hand, Operating Expenses increased by 101.37% YoY to NGN199.77bn following a […]
Q1:2024 Earnings Update | GTCo | Performance Bolstered by Fair Value Gain
Performance Bolstered by Fair Value Gain Gross Earnings for Q1:2024 advanced 330.37% YoY to NGN680.38bn, primarily bolstered by impressive non-interest income. Elsewhere, Operating Expenses increased by 77.15% YoY to NGN99.45bn following a spike in personnel expenses, communications, technological related & admin expenses and AMCON charges. Profit Before Tax (PBT) and Profit After Tax (PAT) grew […]
Q1:2024 Earnings Update | UBA | Impressive Performance Riding on Core Banking Income
Impressive Performance Riding on Core Banking Income United Bank for Africa Plc. recently released its unaudited Q1:2024 financial result. Gross earnings grew 110.25% YoY to NGN570.16bn following impressive interest and non-interest income growth. Interest Income soared 129.71% YoY to NGN440.76bn while Non-Interest Income grew by 63.17% YoY to NGN129.39bn. On the other side, Operating Expenses […]
Weekly Commentary and Stock Recommendation: 29th April – 3rd May 2024
Global Economy Earlier this week, the Federal Reserve left its key monetary policy rate unchanged, a position held since July 2023, at a ten year plus high of 5.25%-5.50%. This was underpinned by sticky prices, as inflation remained higher than the Fed’s 2% inflation target in March 2024, at 3.5% YoY. Elsewhere, in the EU, […]
Q1:2024 Earnings Update | ACCESSCORP | Core Banking Income Sets the Stage
In its Q1:2024 financial statements, Access Holdings Plc posted a 129.20% and 148.03% YoY growth in Gross earnings and Profit before Tax to NGN974.24bn and NGN202.74bn respectively. The performance was mainly driven by impressive returns on interest income. Interest Income climbed 183.07% YoY to NGN719.60bn while non-Interest revenue grew 39.86% YoY to NGN254.64bn. On the […]
Daily Market Update 02-05-2024
Daily Market Update (Equities) The Nigerian equities market noted a positive performance today as the All-Share Index (ASI) increased by 0.55% to close at 98,762.78 points. Consequently, the year-to-date (YTD) return went up to 32.08%, from 31.36% on Tuesday. Today, the Total volume traded increased by 20.46% to settle at 665.20 meanwhile, the total value […]
