External broker reports(aggregated public sources), CardinalStone

CardinalStone

External broker reports(aggregated public sources)

CardinalStone is an independent, multi-asset investment management firm offering an assortment of financial services to a diverse institutional, high net worth and retail clientele base. The company began operations in June 2008 and its business is conducted across six divisions – Investment Banking, Asset Management, Securities Trading, Trust Services, Registrar Services and Financing. Headquartered in Lagos with offices in Abuja, Nigeria, the firm and its licensed subsidiaries diligently works with its clients to create bespoke solutions for their needs.

Macroeconomics

<ul><li>Last week, the domestic bourse rebounded as it advanced by 0.50%, while the MEP gained 0.58%, outperforming the market by 8bps.</li><li>On a year-to-date basis, the MEP has returned 35.53%, while the NGX-ASI has returned 30.69%, outperforming by 483bps.</li><li>The MEP's outperformance was primarily driven by overweight positions in UBA, ZENITHBANK and WAPCO, which contributed a combined 51bps.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Last week, the domestic bourse rebounded as it advanced by 0.50%, while the MEP gained 0.58%, outperforming the market by 8bps.On a year-to-date basis, the MEP has returned 35.53%, while the NGX-ASI has returned 30.69%, outperforming by 483bps.The MEP's outperformance was primarily driven by overweight positions in UBA, ZENITHBANK and WAPCO, which contributed a combined 51bps.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CardinalStone Model Equity Portfolio - S2:Ep46 -18-11-24

Thematic (Sector/Industry)

<ul><li>Last week, the domestic bourse closed bearish as it declined by 0.20%, while the MEP slipped 0.49%, underperforming the market by 29bps.</li><li>On a year-to-date basis, the MEP has returned 34.74%, while the NGX-ASI has returned 30.04%.</li><li>The MEP's underperformance is largely attributed to our overweight position in OANDO (-21.97% WoW) which cost the portfolio 55bps as well as the absence of ARADEL (+8.91% WoW) from the MEP.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Last week, the domestic bourse closed bearish as it declined by 0.20%, while the MEP slipped 0.49%, underperforming the market by 29bps.On a year-to-date basis, the MEP has returned 34.74%, while the NGX-ASI has returned 30.04%.The MEP's underperformance is largely attributed to our overweight position in OANDO (-21.97% WoW) which cost the portfolio 55bps as well as the absence of ARADEL (+8.91% WoW) from the MEP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CardinalStone Research - Model Equity Portfolio - 11th November 2024

<ul><li>Last week, the local bourse closed bearish, losing 203bps.</li><li>In similar fashion, the MEP shed 81bps, outperforming the benchmark index by 122bps.</li><li>Year-to-date, the MEP has returned 35.40%, compared to the NGX-ASI’s return of 30.30%, resulting in an outperformance of 510 bps.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Last week, the local bourse closed bearish, losing 203bps.In similar fashion, the MEP shed 81bps, outperforming the benchmark index by 122bps.Year-to-date, the MEP has returned 35.40%, compared to the NGX-ASI’s return of 30.30%, resulting in an outperformance of 510 bps.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CardinalStone Research - Model Equity Portfolio - 4th November 2024

<ul><li>Last week, the local bourse advanced by 141bps, while the MEP gained 227bps, outperforming the benchmark index by 87bps.</li><li>Year-to-date, the MEP has returned 36.51%, compared to the NGX-ASI's return of 33.00%, resulting in an outperformance of 351 bps.</li><li>The MEP's impressive performance was primarily fueled by our strong overweight positions in SEPLAT (+9.25% WoW) and OANDO (+16.43 WoW), which contributed 108bps and 36bps, respectively.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Last week, the local bourse advanced by 141bps, while the MEP gained 227bps, outperforming the benchmark index by 87bps.Year-to-date, the MEP has returned 36.51%, compared to the NGX-ASI's return of 33.00%, resulting in an outperformance of 351 bps.The MEP's impressive performance was primarily fueled by our strong overweight positions in SEPLAT (+9.25% WoW) and OANDO (+16.43 WoW), which contributed 108bps and 36bps, respectively.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CardinalStone Research - Model Equity Portfolio - 28th October 2024

<ul><li>Last week, the local bourse advanced by 48 bps, while the MEP gained 52 bps, outperforming the benchmark index by 4 bps.</li><li>Year-to-date, the MEP has returned 33.48%, compared to the NGX-ASI’s return of 31.16%, resulting in an outperformance of 232 bps.</li><li>The MEP's strong performance was primarily driven by renewed interest in TRANSPOWER (+19.29% WoW), which contributed 39 bps to the portfolio, and a rebound in OANDO (+10.00% WoW), adding 20 bps</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Last week, the local bourse advanced by 48 bps, while the MEP gained 52 bps, outperforming the benchmark index by 4 bps.Year-to-date, the MEP has returned 33.48%, compared to the NGX-ASI’s return of 31.16%, resulting in an outperformance of 232 bps.The MEP's strong performance was primarily driven by renewed interest in TRANSPOWER (+19.29% WoW), which contributed 39 bps to the portfolio, and a rebound in OANDO (+10.00% WoW), adding 20 bpsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CardinalStone Research - Model Equity Portfolio - 21st October 2024

Nigeria

Lafarge Africa PLC provides cement products and solutions. The Company offers concrete, aggregates, admixture, store fronts, and other relates products, as well as building and construction materials for landmark projects. Lafarge Africa serves customers in Nigeria and South Africa.

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Lafarge Africa (WAPCO NL)

CardinalStone Model Equity Portfolio - S2:Ep46 -18-11-24

Last week, the domestic bourse rebounded as it advanced by 0.50%, while the MEP gained 0.58%, outperforming the market by 8bps.

CardinalStone

CardinalStone Research - Model Equity Portfolio - 11th November 2024

Last week, the domestic bourse closed bearish as it declined by 0.20%, while the MEP slipped 0.49%, underperforming the market by 29bps.

CardinalStone

CardinalStone Research - Model Equity Portfolio - 4th November 2024

Last week, the local bourse closed bearish, losing 203bps. In similar fashion, the MEP shed 81bps, outperforming the benchmark index by 122bps.

CardinalStone

CardinalStone Research - Model Equity Portfolio - 28th October 2024

Last week, the local bourse advanced by 141bps, while the MEP gained 227bps, outperforming the benchmark index by 87bps.

CardinalStone

CardinalStone Research - Model Equity Portfolio - 21st October 2024

Year-to-date, the MEP has returned 33.48%, compared to the NGX-ASI’s return of 31.16%, resulting in an outperformance of 232 bps.

CardinalStone

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