Global Market Overview: Global Equities Extend Winning Streak in February
In February 2024, the global equities market maintained its upward trend, extending its positive performance for the fourth (4th) month in a row. Consequently, the MSCI world Index surged by 4.11% month-on-month (MoM). This positive momentum extended to most of the major global Indices under our coverage, safe for the UK's FTSE 100 which declined by 0.01% MoM.
Domestic Market: Equities Market Hit by Rising Yields
Following a high fixed income yield environment in February 2024 (average fixed income yield: +524bps MoM to 17.06%), the Nigerian equities market slipped into the bearish terrain as the NGX All Share Index (ASI) shed 116bps MoM to 99,980.30 points (vs. 101,154.13 points in January 2024).
ARM Securities Limited is a full-service brokerage house that offers best-in-class brokerage services to local as well as foreign private and institutional investors. Formerly known as Hamilton Hammer, the Company commenced operation in 1994 and was acquired by ARM Investment Managers in 2008--an acquisition which has successfully re-positioned the company as a recognized brokerage firm in Nigeria. The Company is a dealing member of the Nigerian Stock Exchange (NSE) and is regulated by Securities and Exchange Commission (SEC). ARM Securities research team provides insightful commentaries on the Nigerian economy and its equity and debt markets using an approach which incorporates a thorough understanding of the fundamentals of the industries and companies under coverage. The research therefore adopts an integrated methodology of top-down analysis and bottom-up stock selection, which focuses on publicly quoted companies on the Nigerian Stock Exchange that are judged to offer the highest potential for earnings growth. In addition, its analysts provide periodic commentaries on a range of topical global and local issues which provide investing clients with a holistic view of the opportunities and risks in today’s financial market landscape.
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