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Oil prices slide about 2% as US, Iran explore path out of war

Oil prices fell about 2% on Friday on mounting hopes for a truce ‌between the US and Iran and talk about a possible US ban on diesel exports, even as traders worried that increasing attacks against Saudi Arabia by Houthi fighters could disrupt supply from the Middle Eastern producer. Brent futures fell $2.28, or 2.1%, to settle at $104.32 a barrel. West Texas Intermediate (WTI) crude fell $2.20, or 2.3%, to settle at $92.4………….. REUTERS.COM

US business activity at more than five-year high; inflation pressures building

US business activity raced to a more than five-year ‌high in September, fueled by a surge in new orders, though strong demand strained supply chains and pushed prices higher. S&P Global said on Wednesday its flash US Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 58.4 this month. That was the highest level since July 2021 and followed a reading ​of 56.0 in August. ………….. REUTERS.COM

CBN’s 350bps rate cut reshapes stocks, bonds and bank earnings outlook

The Central Bank of Nigeria’s decision to cut the Monetary Policy Rate by 350 basis points to 23% could reshape how investors allocate money across fixed income and equities, although stockbrokers expect the benefits to vary across sectors and companies. The Monetary Policy Committee reduced the MPR from 26.5% to 23% at its September meeting and reset the standing facilities corridor to +50/-300 basis points………NAIRAMETRICS.COM

Below is the summary of our recommendations for the week. For a detailed review, kindly click the link to see our recommendations for 28092026.