MTN Nigeria

Nigerian stocks appreciated 3.8 per cent last week, bringing their yield so far this year to about 42 per cent. Against analysts’ expectation that a hawkish stance at the next monetary policy committee meeting would cause interest to shift from equities to fixed-income securities, demand for stocks increased, helping to wipe out the loss reported for the penultimate week. The earnings reports of big names including Dangote Cement, MTN Nigeria, Seplat, the big 5 banks (excluding FBN Holdings) and Nestle are being…

Last week, Nigerian stocks reported their first weekly depreciation this year, dropping 2.5 per cent, as investors reaped accumulated gains on some stocks that have fairly appreciated. The market saw a lull in earnings releases during the week, allowing investors to absorb a flurry of corporate results that marked the two preceding weeks. Even though the bulk of financial results have been issued, there are strong indicators that the market is yet to see possibly its biggest driver this quarter. Heavyweights like…

Last week, a good number of corporate results were issued, many of them coming out strong and fairly impressive. That in part helped the market capitalisation of the Nigerian exchange appreciate by 2 per cent. Investors are awaiting the earnings reports of big-cap stocks like Dangote Cement, MTN Nigeria, BUA Cement and Nestle as well as those of four of the Big 5 lenders (United Bank for Africa, GTCO, Access Holdings and Zenith). The financial performance of these stocks are likely to shape the direction of the…