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 […]
Daily Market Update | 25-04-2024
Daily Market Update (Equities) The Nigerian Equities market rebounded from it two (2) days loss. The All-Share Index (ASI) rose marginally by 0.05% to 98,169.30 points. Consequently, the market year-to-date (YtD) returns rose to 31.29% compared to 31.24% YtD yesterday. The rebound was driven by gains in TRANSCOH, MTNN, and TRANSCOR offsetting the loss in […]
Daily Market Update | 23-04-2024
Daily Market Update (Equities) Today, the Nigerian Equities market reverted from its upward trajectory, with the All-Share Index (ASI) declining by 0.40% to 99,311.54 points. Therefore, the market year-to-date (YtD) returns fell to 32.82% from yesterday’s 33.34% YtD. This declined was driven by losses in FBN, NESTLE and ZENITH offsetting the gains in WAPCO, TRANSCOR […]
Daily Market Update | 22-04-2024
Daily Market Update (Equities) The Nigerian equities market started the week on a positive note as the NGX All-Share Index (NGX ASI) rose by 0.17% to settle at 99,706.40 points. Consequently, the year-to-date (YtD) returns went up to 33.34% (vs. Yesterday: 33.12% YtD). The gains in GTCO, ZENITH and TRANSCOR offsetting losses in STANBIC, FIDELITY […]
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 […]
Daily Market Update | 08-04-2024
Daily Market Update (Equities) The Nigerian equities market opened the week on a negative note, with the NGX All-Share Index (NGX ASI) dipping 0.33% to close at 103,096.85 points. Gains in STERLING, TRANSCORP, AIICO, and OANDO were offset by losses in GTCO, FBNH, UBA, and ZENITH. Consequently, the market’s year-to-date (YTD) returns fell slightly to […]
Daily Market Update | 04-04-2024
Daily Market Update (Equities) The Nigerian Equities market continued its negative trajectory this week, falling by 0.43% to 103,736.08 points in today’s trading session. This is following losses in GTCO, MTNN, FBNH and UBA offsetting gains in DANGSUGAR, ECOBANK, FCMB and NEM. Consequently, the market’s year-to-date (YtD) returns fell to 38.73% from yesterday’s 39.33% YtD. […]
Daily Market Update | 03-04-2024
Daily Market Update (Equities) The Nigerian Equities market continued its negative streak and posted a 0.32% decline to 104,181.32 points in today’s trading session. Consequently, the market’s year-to-date (YtD) returns fell to 39.33% from yesterday’s 39.78% YtD. Today, total Volume and Value traded fell by 25.75% and 39.04% each to 405.03mn units and NGN8.91bn, respectively. […]
Daily Market Update | 02-04-2024
Daily Market Update (Equities) The Nigerian Equities market started the week on a negative note, as it posted a 0.04% decline to 104,518.14 points in today’s trading session. This is following losses in BUA CEMENT, NESTLE, DANGSUGAR and NASCON offsetting gains in GTCO, ZENITH BANK, FBNH and UBA. Consequently, the market’s year-to-date (YtD) returns fell […]
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 […]
