14th   August 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI65,325.371.08%27.46%
Brent Crude Oil   86.810.47%1.05%  
Natural Gas2.770.25%-32.44%
I&E FX Window 740.605.17%-65.29%
Parallel Market  940.00-1.08%-27.03%
Nigerian Treasury Bill (Average Yield %)7.03%0.15%14.68%
FGN Bonds (Average Yield %)13.66%0.05%15.57%
Gold  1,913.530.08%5.48%
Cocoa 3,297.000.46%26.53%
  • Nigerian equities market ended last week on a positive note as the benchmark NGX All-Share Index (ASI) inched up 120.02 (0.18%) points to close at 65,325.37, representing a week gain of 0.2%, 4-week gain of 4.4%, and an overall year-to-date gain of 27.46%. Skye Shelter Fund led the gainers with 9.96% share price appreciation closing at NGN 76.20 per share, followed by Computer Warehouse Group (+9.82%), Glaxo Smithkline Consumer (+9.78%) and The Initiates (+9.3%).
  • Oil prices edged higher on Friday after the International Energy Agency forecast record global demand and tightening supplies, propelling prices to the seventh straight week of gains, the longest such streak since 2022. Brent crude futures rose 41 cents, or 0.5%, to settle US $86.81 a barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 37 cents, or 0.5%, to settle at US $83.19. On a weekly basis, both benchmarks rose about 0.5%.
  • Naira was mix at both the I&E and street markets. At the I&E window, Naira appreciated by 5.17%, closing at N740.60 against the US dollar. However, on the streets, it depreciated by 1.08% reaching N940 a dollar.
  • US natural gas futures fell below US $2.8/MMBtu from a 5-month high hit above $2.9 on Wednesday, dragged by a bigger-than-expected storage build last week while investors continue to monitor demand and weather projections.

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