11th August 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI65,205.351.62%27.23%
Brent Crude Oil   86.69-0.98%0.91%  
Natural Gas2.77-6.52%-32.44%
I&E FX Window 781.340.19%-74.39%
Parallel Market  930.00-2.76%-25.68%
Nigerian Treasury Bill (Average Yield %)6.88%0.00%12.23%
FGN Bonds (Average Yield %)13.59%-0.02%14.97%
Gold  1,917.170.14%5.68%
Cocoa 3,268.00-1.54%25.41%
  • The benchmark NGX All-Share Index (ASI) increased by 1,037.96 (1.62%) points to close at 65,205.35, representing a week loss of 0.09%, a 4-week gain of 3.91%, and an overall year-to-date gain of 27.23%. Chellarams led the gainers with 10% share price appreciation closing at NGN 4.40 per share, followed by SCOA Nigeria (9.35%), Dangote Cement (9.34%) and Thomas Wyatt Nigeria (9.32%).

Market News – MTN Nigeria has announced that it has obtained the approval of the Securities and Exchange Commission (SEC) for the registration of ordinary shares that allows the company to issue dividends as shares to 5,192 shareholders. Under the plan, 5,192 shareholders elected to receive their FY 2022 final dividends in the form of shares, equivalent to 641,047,053 new ordinary shares of 2kobo each at N232.68 per share. This brings the total issued shares of the Company to 20,995,560,103.

  • Yesterday, Brent crude fell 72 cents to US $86.69 a barrel and West Texas Intermediate crude (WTI) was down 46 cents at US $83.16, after falling by $1 earlier in the trading session.
  • The uncertainty and volatility of the foreign exchange market continues. At the I&E window, Naira depreciated by 3.42%, closing at N782.88 against the US dollar. However, on the streets, Naira nears N950 as it depreciated by 2.76% reaching N930 a dollar.
  • US natural gas futures fell 5% to US $2.8/MMBtu from a 5-month high hit above US $2.9 in the previous session, dragged by a bigger-than-expected storage build last week while investors continue to monitor demand and weather projections.

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