Global Market Overview: Global Equities Extend Winning Streak in February
In February 2024, the global equities market maintained its upward trend, extending its positive performance for the fourth (4th) month in a row. Consequently, the MSCI world Index surged by 4.11% month-on-month (MoM). This positive momentum extended to most of the major global Indices under our coverage, safe for the UK’s FTSE 100 which declined by 0.01% MoM.
Domestic Market: Equities Market Hit by Rising Yields
Following a high fixed income yield environment in February 2024 (average fixed income yield: +524bps MoM to 17.06%), the Nigerian equities market slipped into the bearish terrain as the NGX All Share Index (ASI) shed 116bps MoM to 99,980.30 points (vs. 101,154.13 points in January 2024).
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