Markets
| % Change | YTD (%) | ||
| NGX ASI | 64,167.39 | -1.75% | 25.20% |
| Brent Crude Oil | 87.48 | 1.52% | 1.83% |
| Natural Gas | 2.96 | 6.73% | -27.80% |
| I&E FX Window | 782.88 | -3.42% | -74.73% |
| Parallel Market | 905.00 | -0.89% | -22.30% |
| Nigerian Treasury Bill (Average Yield %) | 6.88% | 0.00% | 12.23% |
| FGN Bonds (Average Yield %) | 13.59% | -0.02% | 14.97% |
| Gold | 1,916.51 | -0.43% | 5.64% |
| Cocoa | 3,292.00 | -1.23% | 26.33% |
- The NGX All-Share Index (ASI) declined by 1,142.26 points (-1.75%) yesterday, closing 64,167.39. This signifies a loss of 0.16% over the past week, a gain of 0.19% over the course of four weeks, and a year-to-date performance of 25.2%. Among the declining stocks are National Salt Company (-10%), Multiverse Mining & Exploration (-10%), John Holt (-9.77%), and Dangote Cement (-9.09%).
- Oil prices hit new peaks on Wednesday with the global Brent benchmark touching its highest since January after a steep drawdown in U.S. fuel stockpiles and Saudi and Russian output cuts offset concerns about slow demand from China. Brent crude settled US $1.38 or 1.52% higher at US $87.48 a barrel, its highest since Jan. 27. West Texas Intermediate crude (WTI) closed US $1.48, or 1.8%, higher at US $84.40, at its highest since November 2022.
- We are now clearly back to where we were eight weeks ago – signficant gap between I & E window and street rates. At the I&E window, Naira depreciated by 3.42%, closing at N782.88 against the US dollar. However, on the streets, Naira down by 0.89%, reaching N905 against the US dollar.
- U.S. natural gas futures jumped nearly 7% to a five-month high on Wednesday as sustained hotter-than-normal weather kept air conditioning demand high, especially in Texas. Front-month gas futures for September delivery on the New York Mercantile Exchange were up 16.1 cents, or 6.73%, to US $2.96 mmBtu.
