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 benchmark—NGXASI advanced by 4.31%WoW to close at 131,585.66 points.</li><li>In comparison, the MEP gained 3.88% WoW, trailing the benchmark index by 43bps.</li><li>Nonetheless, the MEP’s YtD return improved to 29.06%, sustaining its lead over the ASI’s YtD return of 27.84%.</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 benchmark—NGXASI advanced by 4.31%WoW to close at 131,585.66 points.In comparison, the MEP gained 3.88% WoW, trailing the benchmark index by 43bps.Nonetheless, the MEP’s YtD return improved to 29.06%, sustaining its lead over the ASI’s YtD return of 27.84%.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 - 21 July 2025

<ul><li>Last week, the local bourse sustained its positive momentum, with the benchmark index advancing by 4.26%.</li><li>Similarly, the MEP closed positive, rising by 4.99% and outperforming by 73bps.</li><li>Year-to-date, the MEP has delivered a return of 24.24%, ahead of the ASI’s 22.56% 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 local bourse sustained its positive momentum, with the benchmark index advancing by 4.26%.Similarly, the MEP closed positive, rising by 4.99% and outperforming by 73bps.Year-to-date, the MEP has delivered a return of 24.24%, ahead of the ASI’s 22.56% 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 - 14 July 2025

<ul><li>Last week, the Nigerian exchange extended its winning streak, with the benchmark index rising 83bps.</li><li>The MEP gained 49 bps in comparison, underperforming by 47bps.</li><li>Year to date, the MEP has returned 18.34%, outperforming the ASI’s 17.55% YtD return by 79bps.</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 Nigerian exchange extended its winning streak, with the benchmark index rising 83bps.The MEP gained 49 bps in comparison, underperforming by 47bps.Year to date, the MEP has returned 18.34%, outperforming the ASI’s 17.55% YtD return by 79bps.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 - 07 July 2025

<ul><li>Last week, the local bourse sustained its bullish sentiment, with the ASI gaining 1.57% WoW to close at 119,995.76 points.</li><li>In comparison, the MEP gained only 1.49% WoW, underperforming the benchmark index by 8bps.</li><li>The MEP’s YtD return rose to 17.76%, outperforming the ASI’s YtD gain of 16.58% by 118bps.</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 sustained its bullish sentiment, with the ASI gaining 1.57% WoW to close at 119,995.76 points.In comparison, the MEP gained only 1.49% WoW, underperforming the benchmark index by 8bps.The MEP’s YtD return rose to 17.76%, outperforming the ASI’s YtD gain of 16.58% by 118bps.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 - S3:Ep25 - 30-06-25

Macroeconomics

<ul><li>Last week, bullish sentiments persisted in the local bourse, with the ASI gaining 2.35% WoW to reach a new high of 118,138.22 points.</li><li>Meanwhile, the MEP gained 3.96% WoW, outperforming by 161bps.</li><li>On a year-to-date basis, the MEP has gained 16.03%, 125bps ahead of the ASI’s 14.78% 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, bullish sentiments persisted in the local bourse, with the ASI gaining 2.35% WoW to reach a new high of 118,138.22 points.Meanwhile, the MEP gained 3.96% WoW, outperforming by 161bps.On a year-to-date basis, the MEP has gained 16.03%, 125bps ahead of the ASI’s 14.78% 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 Model Equity Portfolio - S3:Ep24 - 23-06-25

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 Research - Model Equity Portfolio - 21 July 2025

Last week, the benchmark—NGXASI advanced by 4.31%WoW to close at 131,585.66 points. In comparison, the MEP gained 3.88% WoW, trailing the benchmark...

CardinalStone

CardinalStone Research - Model Equity Portfolio - 14 July 2025

Last week, the local bourse sustained its positive momentum, with the benchmark index advancing by 4.26%.Similarly, the MEP closed positive, rising...

CardinalStone

CardinalStone Research - Model Equity Portfolio - 07 July 2025

Last week, the Nigerian exchange extended its winning streak, with the benchmark index rising 83bps. The MEP gained 49 bps in comparison,...

CardinalStone

CardinalStone Model Equity Portfolio - S3:Ep25 - 30-06-25

Last week, the local bourse sustained its bullish sentiment, with the ASI gaining 1.57% WoW to close at 119,995.76 points. In comparison, the MEP...

CardinalStone

CardinalStone Model Equity Portfolio - S3:Ep24 - 23-06-25

Last week, bullish sentiments persisted in the local bourse, with the ASI gaining 2.35% WoW to reach a new high of 118,138.22 points.

CardinalStone

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