11th July 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI64,603.692.48%26.05%
Brent Crude Oil   78.24-0.29%-8.93%  
Natural Gas2.652.59%-35.37%
I&E FX Window 744.074.23%-66.27%
Parallel Market  782.001.94%-5.68%
Nigerian Treasury Bill (Average Yield %)6.12%0.00%-0.82%
FGN Bonds (Average Yield %)13.260.02%12.18%
Gold  1,922.93-0.07%5.99%
Cocoa 3,309.000.58%26.99%
  • The equities market sustained the upward movement on Monday as NGX ASI rose by 2.48% as Dangote Cement Plc announces the commencement of the Tranche I share buyback program. The benchmark NGX All-Share Index (ASI) soared 1,563.28 points to close at 64,603.69, representing a week gain of 4.28%, a 4-week gain of 15.31%, and an overall year-to-date gain of 26.05%.  Dangote Cement led the gainers with 10% share price appreciation closing at NGN 330.10 per share, followed by MRS Oil Nigeria (+10%), Neimeth International Pharma (+10%) and Jaiz Bank (+10%).
  • Oil prices slipped on Monday, retreating from Friday’s ten-week high amid continued concerns about the world’s two biggest economies – U.S. and China.  WTI Crude traded at US $73.15, down by 0.96% on the day. The international benchmark, Brent Crude, was down by 0.29% at US $78.24.
  • Both the I & E and street markets saw Naira up – by 4,23% to close N744.07 at the I &E, and by 1.94%, closing at N782.50 on the streets.
  • U.S. natural gas futures climbed about 3% to US$2.65, a one-week high on Monday on forecasts for hotter weather that should boost cooling demand more than previously expected through late July, especially in Texas.

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