Weekly Report and Stock Recommendation

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Oil drops almost 4% on hopes of progress in talks on ending US-Iran war

Oil fell nearly 4% on Monday as talks between ‌Iranian and Qatari officials on a deal to end the US-Israeli war on Iran raised hopes that Middle East supply disruptions could ease. Iranian negotiators left Doha talks on Sunday, but not due to difficulties in negotiations, an official briefed ​on the meeting…………REUTERS.COM

US GDP Growth Accelerates to 3.4% in Q3 2026, Despite Persistent Inflationary Pressures

Real gross domestic product (GDP) increased at an annual rate of 3.4 percent in the third quarter of 2026 (July, August, and September), according to the advance estimate released by the U.S. Bureau of Economic Analysis (BEA). In the second quarter, real GDP increased 2.2 percent…………..BUREAU OF ECONOMIC ANALYSIS

DMO rejects N1.84 trillion bids, pushes T-bill rates lower

The Debt Management Office (DMO), through the Central Bank of Nigeria (CBN), rejected N1.84 trillion in investor subscriptions at the October 28, 2026 Nigerian Treasury Bills auction, allotting just N71.16 billion as the one-year stop rate declined to 15.80%………………NAIRAMETRICS.COM

Below is the summary of our recommendations for the week. For a detailed review, kindly find attached the recommendations for 02112026.

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Oil prices jump $3 on Houthi attacks, oil spill, highest settlement since April

Oil prices ​settled more than $3 higher on Friday, their highest in nearly six months after Houthi attacks in Saudi Arabia stoked concerns over further disruption ‌to energy supplies from the Middle East, where UAE authorities also reported an oil spill. Brent crude futures settled at $116.72 a barrel, up $3.55 or 3.14%, their highest since April 29. US West Texas Intermediate crude closed at $103.27 a barrel, up $3.80 or 3.8%……………REUTERS.COM

US business activity cools in October; strong demand fueling price pressures

US ​business activity slowed modestly in October, though robust demand allowed companies to raise prices for goods and services, ‌a sign that inflation could increase further and remain persistently high in the coming months. S&P Global said on Friday its flash US Composite PMI Output Index, which tracks the manufacturing and services sectors, slipped to 57.6 this month from a five-year high reading of 58.4 in September. A reading above 50 ​indicates expansion in the private sector. Strength in manufacturing was offset by a slight pullback in the vast services sector…………..REUTERS.COM

CBN bills surge to N5.6 trillion, drive 74% of money supply increase in September

Central Bank bills held by money-holding sectors surged to N5.60 trillion in September 2026 from just N9.68 billion in August, accounting for 74.4% of the monthly increase in the country’s broad money supply. Data from the Central Bank of Nigeria (CBN) show that the value of these bills increased by N5.59 trillion within one month, while broad money supply, measured by M3, rose by N7.51 trillion to N146.60 trillion…………NAIRAMETRICS

Below is the summary of our recommendations for the week. For a detailed review, kindly find attached the recommendations for 26102026.

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Oil touches $110 a barrel for first time since May on Middle East, Russia supply fears Brent touched $110 a barrel for the first time since May on Friday on worries that escalating ‌tensions in the Middle East could further tighten supplies, while investors assessed how much diesel Russia could supply to the global market. Brent crude futures settled $3.94, or 3.7%, higher at $109.86, the highest since May 19, while US West Texas Intermediate crude futures closed $3.44, or 3.5%, higher at $101.41, the highest since September 17…………..REUTERS.COM US annual budget gap hits nearly $2 trillion, largest in 5 years The US budget deficit rose by $217 billion to nearly $2 trillion in the ‌2026 fiscal year, fueled in part by tariff refunds and record spending to service the nation’s more than $40 trillion in debt, marking the largest budget shortfall in five years, Treasury Department figures showed on Friday. Continued increases in ​spending for social benefits programs like Social Security and Medicare and a $48 billion jump ​in defense spending also factored into the increase……….REUTERS.COM Nigeria’s inflation slows to 14.63% in September fourth straight monthly decline in 2026 Nigeria’s headline inflation rate eased to 14.63% in September 2026, down from 15.39% in August, extending the country’s disinflation trend for a fourth consecutive month, according to the National Bureau of Statistics (NBS). The latest figure represents a decline of 6.35 percentage points from the 20.98% recorded in September 2025. Month-on-month headline inflation also slowed to 0.06% in September from 0.71% in August, indicating a slower increase in average prices……………..NAIRAMETRICS.COM

Below is the summary of our recommendations for the week. For a detailed review, kindly find attached the recommendations for 19102026.

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Oil prices fluctuate on Trump’s Russian diesel comments, attacks on Saudi Oil prices oscillated on Monday ​as the market considered possible further supplies after US President Donald Trump hailed fresh Russian ‌diesel exports against supply-constricting signals after major attacks on Saudi Arabia. Retracing earlier losses, Brent crude futures rose 69 cents or 0.7%, to $105.41 a barrel while US West Texas Intermediate crude was at $92.42 a barrel, up 57 cents, ​or 0.6%….REUTERS.COM

Wall St Week Ahead Bank earnings, CPI headline busy markets week as S&P 500 hovers near recordsQuarterly earnings reports from banks, along with inflation data and other economic releases next week, will offer US stock investors insight into the ​strength of corporate profits and the path of interest rates, two factors influencing the market’s rally. On Tuesday, the S&P 500 hit an all-time closing high, ‌its first since mid-August. Its year-to-date gain has swelled to more than 14%….REUTERS.COM

Lagos launches up to N200 billion 10-year bond: Key takeaways for investorsThe Lagos State Government has opened its Series 5 Fixed Rate Bond offer to raise up to N200 billion under its N1 trillion Debt and Hybrid Instruments Issuance Programme. The offer opened on Friday, October 9, 2026, and is scheduled to close on Friday, October 16, 2026.It will be priced through book  building, with indicative coupon guidance of 16.50%–16.75% per annum. Proceeds will finance priority infrastructure projects, including the Blue Line rail extension, hospital construction and the Omu Creek Road and bridge project….NAIRAMETRICS.COM

Below is the summary of our recommendations for the week. For a detailed review, kindly find attached the recommendations for 12102026.

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Oil settles lower after Europe agrees to tap diesel reserves

Oil settled slightly lower on Friday, with Brent at $102.25/bbl (down 6 cents) and WTI at $91.11/bbl (down 1.90%). For the week, Brent was up 0.11% while WTI fell 1.6%.The dip came after EU countries agreed to release more diesel stockpiles at US President Trump’s request. He had earlier said he might ban US diesel exports, which would hit Europe hardest. France proposed that Europe release 50 million barrels of diesel and IEA members release 50 million barrels of crude, but G7 agreement on the volumes was not yet clear. ……REUTERS.COM

US manufacturing steady in September, input prices increase

US manufacturing was little changed in September. The ISM manufacturing PMI dipped to 54.5 from 54.6 in August, below the 55.0 economists expected. It has stayed above 50 all year, which means growth. Demand stayed strong. New orders rose to 55.3 from 53.7 and order backlogs also went up. The AI infrastructure buildout and companies rebuilding stock are supporting factories. ……REUTERS.COM

Nigeria’s composite PMI rises to 53.0 in September, marks fourth month of expansion – CBN

Nigeria’s composite PMI rose to 53.0 in September from 52.7 in August, the fourth straight month of growth. Industry, Services and Agriculture all expanded. Output was at 53.9, new orders at 53.7 and employment at 51.5. Raw material stocks were at 52.1 and supplier delivery times at 52.7, which means faster deliveries. Twenty-three subsectors grew, led by Educational Services, while nine shrank, with Chemical & Pharmaceutical Products falling the most. ……………NAIRAMETRICS

Below is the summary of our recommendations for the week. For a detailed review, kindly click the link to see our recommendations for 05102026.

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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.

Dear Esteemed Client, click to see our weekly recommendation.

Oil slides after China asks Iran to limit Houthi attacks on Saudi oil facilitiesOil prices fell on Friday after China, acting on a request from Saudi Arabia, asked Iran ​to limit attacks by Houthi rebels on Saudi oil infrastructure that have threatened a second oil export route in the Middle ‌East. Brent crude futures settled at $104.87 a barrel, down 95 cents, or 0.93%. US West Texas Intermediate futures finished at $100.30 a barrel, down $1.61, or 1.58%…….REUTERS.COM

Wall St ends lower after Fed hikes interest rates, sees more tightening aheadUS stocks whipsawed ​lower on Wednesday after the Federal Reserve raised its key interest rate for the first time in over three years to fight ‌stubbornly high inflation stemming from soaring crude oil prices during the US-Israeli war on Iran. In its accompanying statement, the Fed said its decision was unanimous and more tightening is likely in the near future to effect a timelier drop in inflation…………….REUTERS.COM

J.P. Morgan includes Nigeria in new emerging-market bond index with 7.4% weight

J.P. Morgan has included Nigeria in its newly introduced Government Bond Index–Emerging Markets Edge (GBI-EM Edge), assigning the country a 7.4% weighting in the benchmark designed to track local-currency government debt across frontier emerging markets. This is according to J.P. Morgan’s Global Index Research report dated September 14, 2026. The inclusion puts Nigerian naira-denominated government bonds back into a J.P. Morgan emerging-market benchmark more than a decade after the country was removed from the bank’s flagship government bond index in 2015……………NAIRAMETRICS

Below is the summary of our recommendations for the week. For a detailed review, kindly click the link to see our recommendations for 21092026.

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Oil settles lower on clues about Fed policy, rumors of Hormuz deal

 Oil prices settled lower on Friday, also down for the week as traders evaluated hints about the U.S. Federal Reserve ​Bank’s inflation-fighting policy and rumors of a possible agreement on shipping through the Strait of Hormuz. Brent crude futures settled at $89.31 ‌a barrel, down 39 cents, or 0.43%. West Texas Intermediate Crude Futures finished at $83.40 a barrel, down 13 cents, or 0.16%……..REUTERS.COM

Stocks rattled by inflation risk from rising oil, dicey geopolitics

Rising oil prices, conflict in the Middle East and political uncertainty in Europe kept investors on edge on ​Monday, leaving stocks to drift lower ahead of critical U.S. inflation data later this week. Tehran said it will announce a restricted zone outside ‌the Strait of Hormuz in coming days, after U.S. forces hit three Iranian tankers and Iran’s Islamic Revolutionary Guard Corps launched ballistic missiles at two U.S. Navy ships.………REUTERS.COM

Dangote Refinery Secures SEC Approval for Landmark N2.15trn IPO at N525 Per Share

The proposed N2.15trn Dangote Refinery IPO marks a potentially transformative moment for Nigeria’s capital market, with the scale of the offer capable of significantly expanding NGX market capitalisation and deepening the pipeline of large-cap investment opportunities. For investors, the transaction offers direct exposure to a strategic energy asset with substantial refining capacity and export potential, while providing an opportunity to diversify beyond traditional banking and consumer-led equities. The sheer size of the offer could also attract greater institutional participation and strengthen Nigeria’s appeal to foreign portfolio investors………….PROSHARE.COM

Below is the summary of our recommendations for the week. For a detailed review, kindly click the link to see our recommendations for 07092026.

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Oil falls on report China pushing for end US-Iran war

Crude oil futures prices were more than 4% lower on Friday after sources said ​that China had initiated a push to resume stalled peace talks between the United States and Iran but remained ‌on track for hefty weekly gains. Both Brent and U.S. West Texas Intermediate crude have rallied this week as the United States and Iran exchanged missile strikes, traffic through the Strait of Hormuz fell to a trickle and Yemen’s Houthis attacked shipping in the Red Sea……………..REUTERS.COM

Wall Street indexes dip with technology earnings, rising oil in focus

The Nasdaq led Wall Street lower on Wednesday with a mixed performance from technology stocks, as investors ​waited for key earnings reports to gauge the health of a market rally fed by enthusiasm for artificial intelligence. The S&P 500 fell slightly and ‌the Dow ended virtually unchanged as traders also monitored the latest Middle East hostilities, which led oil futures to settle at a six-week high, fanning inflation worries…………………….REUTERS.COM

CBN retains interest rate at 26.5% as MPC maintains tight monetary policy

The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR), the country’s benchmark interest rate, at 26.5% as the Monetary Policy Committee (MPC) maintained its tight monetary policy stance. The decision was announced by CBN Governor Olayemi Cardoso at the end of the 306th MPC meeting held in Abuja on July 20 and 21, 2026…………………….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 27072026.

Dear Esteemed Client/Reader, click to see our weekly recommendation

Oil settles up on renewed US-Iran hostilities and threat of Red Sea closure

Oil prices climbed more ​than 4% to their highest in more than a month on Friday after the U.S. and ‌Iran stepped up attacks across the Gulf, with shipping threatened by a potential Red Sea closure on top of the restricted traffic through the Strait of Hormuz. Brent crude futures settled $3.87, or 4.59%, higher to $88.10 a barrel, while U.S. West Texas Intermediate futures rose $3.54, or 4.48%, ​at $82.49. Both were at their highest since mid-June……….REUTERS.COM

US consumer inflation moderates; upside risks remain amid renewed Middle East conflict

U.S. consumer inflation slowed more than expected in June as energy prices retreated, but the moderation was insufficient to convince financial markets to take an interest rate increase from the Federal Reserve ​this year off the table against the backdrop of renewed conflict in the Middle East. The report from the Labor Department on Tuesday, which also showed underlying inflation subsiding last month, gave officials ‌at the U.S. central bank some breathing room when they meet later this month, economists said. They, however, cautioned that June’s Consumer Price Index data had been overtaken by the recent escalation in hostilities between the U.S. and Iran…………REUTERS.COM

Nigeria’s inflation eases to 15.91% in June despite rising food prices

Nigeria’s headline inflation rate edged lower to 15.91% in June 2026, compared to 15.93% recorded in May, according to the latest Consumer Price Index (CPI) report. The June inflation rate was significantly lower than the 25.29% recorded in June 2025, reflecting a continued moderation in headline price growth on a year-on-year basis…………..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 20072026