Business News

All News
June 12, 2021 Economic and Market Report – Week-ended June 11, 2021

Global economy According to the latest data released by the Chinese National Bureau of Statistics (NBS), headline inflation rose by 40bps to 1.3% y/y in May (April: 0.9% y/y) – the highest since September 2020 (1.7% y/y). We highlight that the increase in the headline index was due to a faster price increase in the […]

June 11, 2021 Bullish Run Sustained as Investors Hunt for Bargains

This week, the bullish trend in the domestic equities market was extended as the NSE All-Share Index rose 1.1% w/w to settle at 39,156.28 points while YTD loss moderated to -2.8%. The positive performance was driven by bargain hunting in notable bellwether stocks – DANGCEM, WAPCO, STANBIC and SEPLAT. As a result, market capitalisation rose […]

May 10, 2021 Local bourse Gains

Price appreciation in ZENITH (+3.6%), GUARANTY (+2.6%) and WAPCO (+2.2%) buoyed market performance as the All-Share index rose 29bps to close at 39,312.74 points. Consequently, YTD loss improved to -2.4% while market capitalisation rose ₦59.4bn to ₦20.5tn. Trading activity improved as volume and value traded rose 35.7% and 11.1% to 324.2m units and ₦3.3bn respectively. […]

April 2, 2021 Weekly Economic and Market Report

Global economy In line with our expectation of improved factory activity as workers return from the Lunar New Year holiday, China’s manufacturing PMI rose to the highest in four months. According to the National Bureau of Statistics, the manufacturing PMI notched up by 1.3 points to 51.9 points in March (February: 50.6 points). For us, […]

March 22, 2021 Covid-19 blows $311bn in productive investment in 2020

Global foreign investment plummeted to historic lows in 2020 as Covid-19 forced investors to push the brakes on expansion plans. Foreign investment projects worth an estimated $486.9bn were announced by global companies in 2020, which is $310.8bn (40%) less than in 2019, according to full-year data from investment monitor fDi Markets. This means that the […]

Nigerian Economy and Financial Markets: A Blurry Path to Recovery

In our 2020 Outlook report, titled Nigeria in the New Decade: Nothing Ventured; Nothing Gained, we had reviewed the performance of the Nigerian economy over the last decade and highlighted critical imperatives necessary to restore the nation on the path of prosperity in the new decade. We noted that while economic performance in the last […]

Pre-MPC: A Hold Decision in View

The Monetary Policy Committee (MPC) will hold its second set of meetings of the year on the 22nd and 23rd of March 2021. We expect the Committee to review the domestic and external macroeconomic conditions and financial markets developments since its last meeting in January and provide forward guidance on how it intends to balance […]

Nigeria’s Misery Index Worsens

Q4:2020 Labour Market Statistics: Youth Unemployment at an All-time High The Nigerian Bureau of Statistics (NBS) released the labour statistics for Q4:2020 and we summarise the highlights. Interestingly, the NBS was able to conduct the survey through face-to-face interviews following the lifting of restrictions imposed by the pandemic compared with the Computer Assisted Telephone Interview […]

Off to a Good Start… ASI up 0.9%

Price appreciation in BUACEMENT (+5.1%), STANBIC (+10.0%) and INTBREW (+5.9%) buoyed performance in the market today. Consequently, the benchmark index rose 89bps to 38,722.87 points, YTD loss improved to -3.8% and market capitalisation increased ₦178.1bn to ₦20.3tn. Trading activity declined as volume and value fell 4.6% and 24.0% respectively to 277.2m units and ₦3.1bn. The […]

March 14, 2021 Merchandise Trade Report: Worst Trade Deficit on Record as Exports Plummet

Nigeria’s merchandise trade improved 8.9% q/q in Q4:2020, the highest since Q2:2019 though dipped 9.9% y/y to ₦9.1tn. For FY:2020, merchandise trade fell by 10.3% y/y to ₦32.4tn due to a sharp contraction in exports according to report by the NBS. Consequently, the trade balance had a deficit of ₦7.4tn, the first since 2017 and […]

Magazine Subscription

Stay up to date with all the important happenings in the world. Subscribe and receive a monthly soft copy of carefully curated news