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: 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% […]
Weekly Commentary and Stock Recommendation: 8th July – 12th July 2024
Global Economy Earlier this week, data from the Chinese National Bureau of Statistics (NBS) showed China’s inflation was modest in June 2024. According to the NBS, China’s national consumer price index (CPI) increased by 0.2% YoY, compared to a 0.3% YoY increase in May 2024. Among them, urban prices rose by 0.2% YoY, while rural […]
Weekly Commentary and Stock Recommendation: 1st July – 5th July 2024
Global Economy A private Purchasing Manager Index (PMI) survey released earlier this week stated that the Caixin/S&P Global manufacturing PMI increased to 51.8 in June 2024 from 51.7 in May 2024, which was the quickest clip since May 2021. For eight months running, the index—which primarily includes smaller, export-focused businesses—has been above the 50-point threshold […]
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 […]
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, […]
Weekly Commentary and Stock Recommendation: 22nd April – 26th April 2024
Global Economy Earlier this week, S&P Global released flash Purchasing Manager Index (PMI) reports for both the UK and US. The headline S&P Global Flash US PMI Composite Output Index dropped to 50.9 points in April 2024 from 52.1 points in March 2024. The S&P Global Flash US Manufacturing PMI, which considers a wide range […]
Weekly Commentary and Stock Recommendation: 8th April – 12th April 2024
Global Economy Earlier this week, the Governing Council of the European Central Bank (ECB) decided to keep its monetary policy rates unchanged. While overall inflation levels have been tapering, the ECB observed that domestic price pressures remain unabated, keeping services inflation elevated. Consequently, the interest rate on the main refinancing operations, the interest rates on […]
Weekly Commentary and Stock Recommendation: 25th March – 28th March 2024
Global Economy Earlier this week, the US Bureau of Economic Analysis (BEA) released its third estimate of the US Q4:2023 and 2023FY GDP. According to the BEA, Real gross domestic product (GDP) increased by 3.4% YoY in Q4:2023 (vs 4.9% YoY in Q3:2023). Compared to Q3:2023, the deceleration in real GDP in Q4:2023 primarily reflected […]
Post Monetary Policy Committee Meeting March 2024 – CBN Maintains Hawkish Stance
Post Monetary Policy Committee Meeting March The second (2nd) Monetary Policy Committee (MPC) meeting in 2024 held on the 25th and 26th of March. The committee reviewed recent economic and financial developments as well as assessed risks to the outlook. Following its deliberation, the committee decided to tighten the MPR by 200bps to 24.75% from […]
