On this week’s episode of Follow the Money with Ugodre brought to you by Africa’s Global Bank, UBA Plc, your trusted source for all things finance, we’re talking about the rollercoaster ride investors have been on. While some are facing losses, others are cashing in big. But first, let’s address the elephant in the room—inflation. It’s shot up to a staggering 32.7% in three months, thanks to the recent petrol hike, which is hitting wallets hard. The ripple effect is being felt across the market, with rising prices and shifting consumer habits.
But it’s not all doom and gloom. United Capital has defied the odds with a whopping 131.6% profit surge. How did they manage such a feat in these turbulent times, and what could this mean for you as an investor?
Now, let’s talk about the market’s performance for the week ending Friday, October 18th. Despite inflation concerns, the market managed to end on a positive note, up by 0.47%. Equities rose by 47 basis points, with consumer goods, industrial, and oil and gas stocks in the green. The consumer goods index was up by 1.42%, oil and gas increased by 1.08%, and industrial stocks rose 0.4% week on week. However, it wasn’t all good news as banking and insurance stocks declined, with drops of 0.51% and 1.25% respectively. But overall, the market remained strong, with capitalisation closing at ₦59.43 trillion.
You can watch this week’s episode here or on Spotify. Better still, keep a date every Monday morning from 8 to 8:30 on Classic FM 97.3.
