16th June 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI59,195.21-1.32%15.50%
Brent Crude Oil   75.903.69%-11.65%  
Natural Gas2.569.35%-37.56%
I&E FX Window 702.19  -15.08%-56.72%
Parallel Market  755.000.98%-2.03%
Nigerian Treasury Bill (Average Yield %)5.93%-0.01%-3.26%
FGN Bonds (Average Yield %)14.130.03%19.54%
Gold  1,958.030.76%7.93%
Cocoa 3,226.001.16%23.80%
  • NGX All-Share Index (ASI) declined 789.89 (-1.32%) points to close at 59,195.21, a 1-week gain of 5.66%, a 4-week gain of 12.93%, and an overall year-to-date gain of 15.5%. Top gainers include TOTAL (+10%), MRS (+10%), GUINNESS (+9.90%), and top losers include MTNN (-3.83%), ACCESSCORP (-9.24%), GTCO (-5.49%) and NB (-5.97%).
  • Oil prices gained about 3% to close a one-week high on Thursday. Brent futures rose US $2.07, or 3.69%, to $75.90 a barrel while U.S. West Texas Intermediate (WTI) crude rose $2.59, or 3.79%, to $70.86.
  • The Naira continues to decline at the I & E window, down 15.08% to N702.19, but appreciated at the street market, up 0.98% to N755. This brings the difference between the two rates to 7%, or N53.
  • US natural gas futures extended gains above US $2.50/MMBtu, the highest in three weeks buoyed by a smaller-than-expected stock build, along with increased demand and decreased supply. A projected heatwave from June 23-30 is expected to drive up demand for gas, particularly for power generation used in air conditioning.

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