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November 29, 2021

Dip in Crude Oil Price; Perpetuating the Concerns of a Frail Economy

The Brent futures traded at US$72.81 per barrel on 26 November 2021. According to Reuters, the dip in price of BRENT was driven by concerns around a surplus in Q1 2022 following the uptick in the number of countries that are instituting lockdown measures on the back of the new COVID-19 omicron variant.

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November 29, 2021

Bullish Sentiment Sustained as Average Yield Shed 25bps WoW to Close at 4.85%

Last week, the Nigerian Treasury Bills ("NT-Bills") secondary market started off on a quiet note as market participants prepared for the Primary Market Auction ("PMA") which was held on Wednesday (24-Nov-21).

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November 29, 2021

Afrinvest Stock Recommendation for the Week 291121

Last week, the local bourse gained as the benchmark index rose 0.3% w/w to 43,308.29 points despite closing southward in 3 of the 5 trading days. Accordingly, YTD return improved to 7.5% (previously: 7.3%) while market capitalisation grew N54.0bn w/w to N22.6tn.

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November 29, 2021

An Improved Revenue Outturn in July 2021

The CBN's latest monthly economic report for July '21 shows that the federation's gross revenue improved 36% y/y and 39% m/m to almost NGN1.1trn. The gross amount collected was also around 4% higher than the pro-rata monthly budget benchmark.

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