14th July 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI62,748.94-2.03%22.43%
Brent Crude Oil   80.740.74%-6.02%  
Natural Gas2.62-0.57%-36.10%
I&E FX Window 746.287.06%-66.56%
Parallel Market  777.560.31%-5.08%
Nigerian Treasury Bill (Average Yield %)6.11%-0.01%-0.33%
FGN Bonds (Average Yield %)12.92%-0.03%9.31%
Gold  1,960.750.17%8.08%
Cocoa 3,245.00-1.58%24.53%
  • Yesterday made it two consecutive days the benchmark NGX ASI fell by more than 2% this week, as the market plummet 2.03% to close at 62,748.94, showing a week gain of 1.18%, a 4-week gain of 7.88%, and an overall year-to-date gain of 22.43%. Key share price movement include Stanbic IBTC Holdings (- 10%), Transcorp Hotels (-10%), Fidelity Bank (-10%) and Wema Bank (-10%).
  • Global oil benchmark Brent hovered above US $80 a barrel on Thursday after U.S. inflation data implied interest rates in the world’s biggest economy are close to their peak. Brent crude futures 1 cent to US $80.74 per barrel while U.S. West Texas Intermediate crude futures crept 8 cents lower to US $75.67.
  • Following the N800 breach on the streets two days ago, Naira strengthened against the US dollar at the I & E and largely flat on the streets yesterday. At the I & E, Naira closed N746.28,  7.06% change from Wednesday. On the street, it was a mere 0.3% change from Wednesday, closing at N777.56 against the US dollar. Meanwhile, latest data by FMDQ shows inflows into I & E up by US $300 million in June compared to May, following the aggreagation of all CBN’s exchnage rate windows into the I & E window and laregely removing the previous restrictions in the changes in the value of the Naira.
  • US natural gas futures traded around US $2.65/MMBtu, sliught change from Wednesday.

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