Before it's here, it's on InfoWARE Market Data Terminal; Years of Fundamentals, Analytics and more... PRESCO 9.96  DANGSUGAR 9.94  ELLAHLAKES 9.93  JAIZBANK 9.81  FLOURMILL 9.69  NSLTECH 9.26  UNIVINSURE 9.09  GTCO 8.86  MANSARD 8.27  STANBIC 8.08  CONOIL -10.00  TANTALIZER -10.00  MCNICHOLS -9.52  LINKASSURE -9.47  GUINEAINS -9.09  DEAPCAP -8.47  CAVERTON -8.18  NASCON -7.82  ETI -7.50  PRESTIGE -6.90 
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CardinalStone Research Model Equity Portfolio - 22 April 2024
(Source: CardinalStone Research, Date: 22-Apr-2024)

CardinalStone Research Model Equity Portfolio

Last week, the domestic bourse extended losses for the fifth consecutive week, with the ASI down by 271bps, while the MEP shed 221bps, outperforming the index by 50bps. Year-to-date, the MEP has returned 32.96% vs the NGX-ASI's return of 33.12%.


The MEP's outperformance was driven primarily by the 4.37% decline in DANGCEM, in which we currently have an underweight position. The stock was marked down for dividend on the ex-div date, 16 April 2023. Recall that the company declared a 50.0% YoY increase in final dividend to N30.0 (vs FY'22: N20.0).


In addition, the absence of FBNH (-10.33% WoW) shielded the MEP from further drags in banking names. Nevertheless, it was another week of bearish sentiment in banking names, costing the portfolio 155bps.

See more here


Regards,


CardinalStone Research

research@cardinalstone.com

CardinalStone Research 

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