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17th July 2023 Africa Markets Roundup

Markets

  % ChangeYTD (%)  
NGX ASI62,569.73-0.29%22.08%
Brent Crude Oil   79.87-1.83%-7.32%  
Natural Gas2.54-0.24%-37.35%
I&E FX Window 803.90-7.93%-73.61%
Parallel Market  805.00-3.63%-8.45%
Nigerian Treasury Bill (Average Yield %)6.10%-0.01%-0.32%
FGN Bonds (Average Yield %)13.00%-0.02%9.29%
Gold  2,029.51-0.23%7.86%
Cocoa 3,307.00-1.18%23.45%
  • NGX ASI declined slightly by 0.29% on Friday, shedding 179.21 points to close at 62,569.73, a 1-week loss of 0.75%, a 4-week gain of 4.31%, and an overall year-to-date gain of 22.08%. key share price movement include Flour Mills Nigeria (- 10%), UAC of Nigeria (-10%), Wema Bank (-10%) and Champion Breweries (-10%).
  • Oil prices fell more than a dollar a barrel on Friday. Brent crude futures settled at US $79.87 per barrel, down US $1.49, or 1.8%, while the U.S. West Texas Intermediate crude futures fell US $1.47, or 1.9%, to settle at US $75.42 a barrel.
  • Naira lost ground again against the US $ in both the official and parallel markets. At the I&E window, the Naira demonstrated a notable depreciation of 7.93%, ultimately closing at a rate of N803.90. Similarly, on the streets, Naira depreciated by 3.63%, at N805.

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