Markets
| % Change | YTD (%) | ||
| NGX ASI | 52,231.29 | 0.03% | 1.91% |
| Brent Crude Oil | 75.46 | 1.74% | -12.16% |
| Natural Gas | 2.35 | 3.47% | -42.68% |
| I&E FX Window | 462.33 | 0.24% | -3.19% |
| Parallel Market | 742.00 | -0.61% | -0.27% |
| Nigerian Treasury Bill (Average Yield %) | 6.70% | -0.44% | 9.03% |
| FGN Bonds (Average Yield %) | 14.31 | -0.01% | 21.07% |
| Gold | 2,018.27 | 1.83% | 11.27% |
| Cocoa | 3,268.00 | 0.80% | 25.41% |
- The benchmark NGX All-Share Index (ASI) inched up 16.67 (0.03%) points to close at 52,231.29, representing a 1-week loss of 0.66%, a 4-week gain of 0.53%, and an overall year-to-date gain of 1.91%. The market is expected to remain stable this week as investors await the Monetary Policy Committee’s decision on the policy rate next Tuesday.
- Oil prices edged up on Monday as the prospect of tightening supplies due to OPEC+ production cuts and a resumption in U.S. buying for reserves outweighed concerns about fuel demand in top global oil consumers the United States and China. Brent crude futures were up US $1.21 or 1.74% to US $75.46 a barrel while U.S. West Texas Intermediate crude was at $70.41 a barrel, up 37 cents or 0.5%.
- Despite new weather reports predicting low national demand, natural gas prices traded higher on Monday. This upward movement is a continuation of the bullish trend that began on Friday, resulting in a 5% rally. Natural Gas future increased by 3.47% yesterday to settle at US $2.35. The catalyst for this surge was a report indicating that the number of oil and natural gas rigs in the United States declined to its lowest level in nearly a year, while Gas rigs experienced their largest weekly drop since February 2016, according to energy services firm Baker Hughes Co.
