Weekly Commentary and Stock Recommendation: 11th December – 15th December 2023
Global Economy Earlier this week, the Federal Reserve kept interest rates unchanged at the end of its policy meeting. The widely expected decision kept the target range for the federal-funds rate at 5.25-5.50%. The median forecast in Federal Open Market Committee members’ latest Summary of Economic Projections has the federal-funds rate ending 2024 at 4.6%. […]
Daily Market Update | 14-12-2023
Daily Market Update (Equities) For the fourth straight trading session, the Nigerian Equities market closed on a positive note, as the NGX All Share Index (ASI) gained 0.22% to settle at 72,458.03 points. Consequently, the market’s year-to-date (YtD) returns climbed to 41.38% (vs 41.07% yesterday). This was driven by gains in ACCESSCORP, ZENITH and UBA […]
Daily Market Update | 11-12-2023
Daily Market Update (Equities) The Nigerian Equities market started the week on a positive note, as the NGX All Share Index (ASI) increased by 0.18% to settle at 71,669.91 points. This was driven by gains in ECOBANK, MTNN and BUACEMENT which offset losses incurred on FBNH, TRANSCORPHOTELS and TRANSCORP. Consequently, the market’s year-to-date (YtD) returns […]
Daily Market Update | 05-12-2023
Daily Market Update (Equities) The Nigerian Equities market rebounded from its loss yesterday, as its benchmark index, the NGX All Share Index (ASI) rose by 0.43% to 71,250.17 points. Consequently, its Year-to-Date (YtD) returns went up to 39.02% (vs 38.43% Yesterday). The gains in BUACEMENT, FBNH and Access Holdings offset the losses in Airtel Africa, […]
Monthly Equities Market Report | November 2023
Global Market Overview Easing Inflation and Hawkish Pause Fuels Optimism across Markets In a welcome turnaround, the global equities market finally caught a break in November 2023, snapping a three-month streak of losses. The MSCI World Index led the charge, climbing 0.85% month-on-month (MoM). This upswing extended to all indices under our watch, painting a […]
Weekly Commentary and Stock Recommendation: 27th November – 1st December 2023
Global Economy Earlier this week, according to the US Bureau of Economic Analysis, the US Real Gross Domestic Product increased at a rate of 5.2% YoY in Q3:2023, according to its revised estimates. The increase in real GDP reflected increases in consumer spending, private inventory investment, exports, government spending, residential fixed investment, and nonresidential fixed […]
Daily Market Update 29-11-2023
Daily Equities Market Update (Equities) Today, Nigerian Equities market closed with positive sentiment as its benchmark index rose by 0.34% to 71,041.29 points. As a result, its year-to-date (YtD) returns went up to 39.09 (vs. yesterday’s YtD: 38.61%). The losses recorded in , MAYER, NESTLE and NSLTECH offset the gains incurred in GUINEAINS, OMATEK and […]
Daily Market Update 28-11-2023
Daily Equities Market Update (Equities) Today, Nigerian Equities market closed with a negative performance as its benchmark index fell by 0.44% to 71,049.29 points. As a result, its year-to-date (YtD) returns declined to 38.61% (vs. yesterday’s YtD: 39.22%). The losses recorded in , OMATEK, IKEJAHOTEL, and NEIMETH offset the gains incurred in NSLTECH, ROYALEX and […]
Weekly Commentary and Stock Recommendation: 20th November – 24th November 2023
Global Economy Earlier this week, according to S&P Global, the US private sector’s economic activity grew at a moderate rate in November 2023, with the S&P Global Composite PMI remaining stable at 50.7 (vs. 50.7 in October 2023). While the Services PMI slightly increased to 50.8 from 50.6 during the same period, the Manufacturing PMI […]
Weekly Commentary and Stock Recommendation: 13th November – 17th November 2023
Global Economy Earlier this week, the US Bureau of Labor Statistics (BLS) released the October 2023 Consumer Price Index for All Urban Consumers (CPI-U) data. According to the data, inflation was unchanged in October 2023 on a seasonally adjusted basis, after increasing 0.4% MoM in September 2023. YoY, the headline CPI index increased by 3.2%. […]
