NGX | Nigerian Exchange - Monthly Equities Review - January 2023 : The bulls resurface

    Despite a tightening-induced plunge in 2022, global equities commenced 2023 on a strong footing. Specifically, MSCI World and Emerging Markets indices appreciated by 7.0% and 7.9%, respectively, in January 2023 (vs -4.3% and -1.6% in December 2022). This equity turnaround was primarily driven by the moderation in inflation (particularly in the U.S. and the Eurozone) that raised hopes for temperance in hawkish monetary policies. In addition, a flurry of positive earnings releases amid strong Q4'22 economic growth numbers in the U.S. and China, and a better-than-expected outturn in the Eurozone boosted risk appetite.

     

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    CardinalStone is a full service investment banking firm with a vision to build a world class investment banking firm of African origin; operating out of Lagos, Nigeria. The firm was incorporated in April 2008 and began operations in June 2008. CardinalStone is duly registered with the Securities & Exchange Commission in Nigeria to carry on business as an Issuing House, Fund Manager and Broker/Dealer The Firm's activities are carried out across five business units: Asset Management, Investment Banking, Private Equity, Securities Trading and the Business Support Group.
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