Weekly Commentary and Stock Recommendation: 14th October – 18th October 2024
Stock Market Despite observing losses in two (2) trading days this week, investors closed the week in a happy mood as the market gained 0.47% Week-on-Week (WoW), representing a market capitalization gain of NGN3.34trn. Consequently, the market’s Year-to-Date (YtD) return climbed to 31.16% (vs.30.54% YtD last Friday). This positive sentiment was driven by gains in […]
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024
Stock Market Despite losing three (3) times, investors went home smiling as they gained NGN49.53bn, bringing the market to close positive at 0.09% week-on-week (WoW). This is following gains in SEPLAT, FIDELITY and FBNH, which offset losses in OANDO, UBA and STANBIC. Consequently, the Nigerian stock market has gained 30.54% from the beginning of the […]
Weekly Commentary and Stock Recommendation: 30th September – 4th October 2024
Last week, the market lost NGN596.61bn due to selloffs in DANGCEM, BUACEMENT and FBNH, which caused the market to lose 0.95% Week-on-Week (WoW). However, we saw gains in sectors such as Oil and Gas, Insurance and Consumer Goods sectors, as investors bought into tickers such as SEPLAT, NEM and INTBREW respectively.
Weekly Commentary and Stock Recommendation: 17th September – 20th September 2024
Earlier this week, the Office of National Statistics (ONS) released Consumer Price Index (CPI) for August 2024. The Headline CPI rose by 2.2% YoY in August 2024, unchanged from July 2024. On a MoM basis, CPI rose by 0.3% in August 2024, the same rate as in August 2023.
Weekly Commentary and Stock Recommendation: 9th September – 13th September 2024
Earlier this week, according to the Chinese National Bureau of Statistics, China’s Consumer Price Index (CPI) rose by 0.6% YoY in August 2024 after reporting a 0.5% YoY growth in July 2024.
Weekly Commentary and Stock Recommendation: 2nd September – 6th September 2024
Global Economy Earlier this week, according to a private sector survey, the Caixin/S&P Global manufacturing Purchasing Manager Index (PMI) rose to 50.4 points in August 2024 from 49.8 points the previous month, more positive than the recent official PMI survey showing manufacturing activity extended declines in August 2024. According to the survey, which mostly covers […]
Weekly Commentary and Stock Recommendation: 26th August – 30th August 2024
Global Economy Earlier this week, the US Bureau of Economic Analysis (BEA) issued a revised GDP estimate for Q2:2024. According to the BEA, real GDP increased at an annual rate of 3.0% in Q2:2024, according to the second estimate (compared to 1.40% YoY in Q1:2024). Compared to the first quarter, the growth in real GDP […]
Weekly Commentary and Stock Recommendation: 19th August – 23rd August 2024
Global Economy Earlier this week, S&P Global released a series of Purchasing Managers’ Index (PMI) reports for the US, UK and Eurozone. The headline S&P Global Flash US PMI Composite Output Index edged down from 54.3 points in July 2024 to a four-month low of 54.1 points in August 2024. Output has now risen continually […]
Weekly Commentary and Stock Recommendation: 22nd July – 26th July 2024
Global Economy Earlier this week, S&P Global published a series of Purchasing Manager Index (PMI) data for key global economies. The seasonally adjusted HCOB Flash Eurozone Composite PMI Output Index decreased to 50.1 in July 2024 from 50.9 in June 2024, hovering just above the no-change mark and indicating near-stagnation in private sector activity. Although […]
Weekly Commentary and Stock Recommendation: 15th July – 19th July 2024
Global Economy According to the Office of National Statistics, the UK’s Consumer Prices Index (CPI) rose by 2.0% YoY in June 2024, unchanged from May 2024. On a MoM basis, CPI rose by 0.1% in June 2024, the same rate as in June 2023. Core CPI (excluding energy, food, alcohol and tobacco) rose by 3.5% […]
