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.

Thematic (Sector/Industry)

<ul><li>Last week, the local bourse’s benchmark index (NGX-ASI) slipped by 0.20% WoW to settle at 243,462.13 points.</li><li>Conversely, the MEP advanced by 0.44% WoW, outperforming the NGX-ASI by 64 bps.</li><li>Year-to-date, the MEP has returned 62.25%—579bps ahead of the ASI’s YtD return of 56.45%.</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’s benchmark index (NGX-ASI) slipped by 0.20% WoW to settle at 243,462.13 points.Conversely, the MEP advanced by 0.44% WoW, outperforming the NGX-ASI by 64 bps.Year-to-date, the MEP has returned 62.25%—579bps ahead of the ASI’s YtD return of 56.45%.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 - 20 July 2026 

<ul><li>Last week, the NGX-ASI rebounded from its 3-week losing streak, gaining 6.42% WoW to settle at 243,954.45 points.</li><li>In comparison, the MEP gained 6.85% WoW, overperforming the index by 43 bps.</li><li>Year to date, the MEP has returned 61.53%, 4.76% ahead of the ASI’s YtD return of 56.77%.</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 NGX-ASI rebounded from its 3-week losing streak, gaining 6.42% WoW to settle at 243,954.45 points.In comparison, the MEP gained 6.85% WoW, overperforming the index by 43 bps.Year to date, the MEP has returned 61.53%, 4.76% ahead of the ASI’s YtD return of 56.77%.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 - 13 July 2026

<ul><li>Last week, the ASI continued its weekly losing streak (3 consecutive weeks), shedding 1.21% WoW to settle at 229,240.34 points.</li><li>The MEP, by comparison, declined 1.73% WoW, underperforming the index by 52 bps.</li><li>The MEP’s YtD return further moderated to 51.04%; however, it maintains its lead over the ASI’s YtD return of 47.31% by 373 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 ASI continued its weekly losing streak (3 consecutive weeks), shedding 1.21% WoW to settle at 229,240.34 points.The MEP, by comparison, declined 1.73% WoW, underperforming the index by 52 bps.The MEP’s YtD return further moderated to 51.04%; however, it maintains its lead over the ASI’s YtD return of 47.31% by 373 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 -  06 July 2026

<ul><li>Last week, bearish sentiments prevailed, with the benchmark index declining by 1.65% WoW to settle at 232,049.02 points.</li><li>The MEP declined by a milder 1.07%, outperforming the benchmark by 58bps.</li><li>The MEP’s Ytd return moderated to 53.74%, however, it maintains its lead over the ASI’s YtD return of 49.12% by 462 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, bearish sentiments prevailed, with the benchmark index declining by 1.65% WoW to settle at 232,049.02 points.The MEP declined by a milder 1.07%, outperforming the benchmark by 58bps.The MEP’s Ytd return moderated to 53.74%, however, it maintains its lead over the ASI’s YtD return of 49.12% by 462 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 -  29 June 2026

<ul><li>Last week, the NGX traded bearish, with the ASI declining by 3.59% WoW to settle at 235,941.27 points.</li><li>In comparison, the MEP lost 3.93% WoW, underperforming the ASI by 34bps.</li><li>Notwithstanding, the MEP’s YTD return of 55.42% remains 380bps ahead of the ASI’s 51.62% YTD return.</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 NGX traded bearish, with the ASI declining by 3.59% WoW to settle at 235,941.27 points.In comparison, the MEP lost 3.93% WoW, underperforming the ASI by 34bps.Notwithstanding, the MEP’s YTD return of 55.42% remains 380bps ahead of the ASI’s 51.62% YTD return.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 - 22 June 2026

United Kingdom

Airtel Africa Plc provides telecommunications and mobile money services across 14 countries in Africa, primarily in East, Central, and West Africa. The company offers a range of services including prepaid and postpaid wireless voice, 2G, 3G, 4G, and 5G data services, mobile money, international roaming, and fixed-line telephony. It is headquartered in London, England, and was founded on June 8, 2010.

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Airtel Africa (AAF LN)

CardinalStone Research - Model Equity Portfolio - 20 July 2026

Last week, the local bourse’s benchmark index (NGX-ASI) slipped by 0.20% WoW to settle at 243,462.13 points.Conversely, the MEP advanced by 0.44%...

CardinalStone

CardinalStone Research - Model Equity Portfolio - 13 July 2026

In comparison, the MEP gained 6.85% WoW, overperforming the index by 43 bps.Year to date, the MEP has returned 61.53%, 4.76% ahead of the ASI’s YtD...

CardinalStone

CardinalStone Research - Model Equity Portfolio - 06 July 2026

The MEP’s YtD return further moderated to 51.04%; however, it maintains its lead over the ASI’s YtD return of 47.31% by 373 bps.

CardinalStone

CardinalStone Research - Model Equity Portfolio - 29 June 2026

Last week, bearish sentiments prevailed, with the benchmark index declining by 1.65% WoW to settle at 232,049.02 points.The MEP declined by a...

CardinalStone

CardinalStone Research - Model Equity Portfolio - 22 June 2026

Last week, the NGX traded bearish, with the ASI declining by 3.59% WoW to settle at 235,941.27 points.In comparison, the MEP lost 3.93% WoW,...

CardinalStone

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