We update our view on Seplat Energy following the release of Q2 21 results, which saw a 50% qoq increase in adjusted pre-tax profit to US$39mn. We increased 2021e production opex/boe to US$9 from US$8 (2020: US$9/boe), reflecting the higher-than-expe...

The dollar is currently pinned with investors awaiting the release of the next round of US employment statistics which starts today with the ADP numbers. Rising COVID-19 cases and slowing manufacturing in both the United States and China have taken t...

MTNN's H1 revenue grew by 24% yoy to NGN791bn. Direct network cost grew by 30% yoy on the back of c4.3% Naira depreciation in the first half (6.3% since June 2020) and accelerated site rollout (recall that site lease agreements are dollar based). Reg...

FBNH recently released its Q2 21 results, reporting a 75% growth in net attributable profit (from continued operations) to NGN22bn, close to our expectations of NGN21bn. Second, the group's loan impairment charges were lower than expected (down 26% y...

Around 55% of adults in the United States invest in individual stocks. We think the new generation of online stock trading platforms in emerging markets are well placed to capitalise on this retail gap due to their streamlined processes and low margi...

The dollar has effectively stalled this morning as it pivots around the 92.00 handle with the market assessing the impact of the Delta variant surging across the Southern United States and the lack of a timeline regarding the infrastructure bill. Acc...